LGL GROUP INC

For the period ended Dec 31, 2024. Filed Mar 31, 2025.

About this filing

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FY2024 · Filed Mar 31, 2025

LGL$6.63+1.2%Stored close · as of Nov 6, 2026

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Contents

Segment Information

3. Segment Information

Chief Operating Decision Maker

The Company's chief operating decision maker ("CODM") are the co-Chief Executive Officers.

Reportable Segments

The Company reports its results from operations consistent with the manager in which the CODM review the business to assess performance and allocate resources. As such, the Company reports its results intwo reporting segments: Electronic Instruments and Merchant Investment. A brief description of each segment is below:

The Electronic Instruments segment includes all products manufactured and sold by PTF.

The Merchant Investment segment includes all activity produced by Lynch Capital International, LLC ("Lynch Capital").

The Company includes in Corporate the following corporate and business activities:

•	corporate level assets and financial obligations such as cash and equivalents invested in highly liquid U.S. Treasury money market funds and other marketable securities;

•	other items not allocated to or directly related to the Company's operating segments, including items such as deferred tax balances; and

•	intercompany eliminations.

Measure of Segment Profit or Loss and Segment Assets

The accounting policies used in both the Electronic Instruments and Merchant Investment segments are the same as those described in Note2 – Summary of Significant Accounting Policies.

The CODM assess the performance of and decide how to allocate resources to each reporting segment based on Segment profit (loss), which is total revenues less Manufacturing cost of sales and Engineering, selling, and administrative. The CODM uses Segment profit (loss) to evaluate the overall profitability of the Electronic Instruments, Merchant Investment, and Corporate segments. Additionally, the CODM uses Segment profit (loss) to allocate resources in the annual budgeting and forecasting process. The CODM considers budget-to-actual variances when making decisions about allocating capital to each segment.

The measure of segment assets is reported on the Consolidated Balance Sheets as consolidated Total assets. The CODM uses Total assets of each segment to allocate overhead expenses incurred by the Corporate segment.

The following tables present LGL Group's continuing operations by segment:

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$2,226	$—	$—	$2,226
Net investment income	—	1,228	843	2,071
Net losses	—	—	(5)	(5)
Total revenues	2,226	1,228	838	4,292
Less:
Manufacturing cost of sales	1,047	—	—	1,047
Engineering	209	—	—	209
Commissions	112	—	—	112
Sales and marketing	185	—	—	185
Accounting	—	—	270	270
Compensation	243	—	779	1,022
Corporate allocations (a)	42	371	(413)	—
Other segment items (b)	145	10	593	748
Engineering, selling and administrative	936	381	1,229	2,546
Total expenses	1,983	381	1,229	3,593
Segment profit (loss)	$243	$847	$(391)	$699
Reconciliation of Segment profit (loss) to Income (loss) from continuing operations before income taxes
Adjustments and reconciling items				—
Income from continuing operations before income taxes				$699

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$1,728	$—	$—	$1,728
Net investment income	—	869	697	1,566
Net gains	—	—	384	384
Total revenues	1,728	869	1,081	3,678
Less:
Manufacturing cost of sales	796	—	—	796
Engineering	248	—	—	248
Commissions	99	—	—	99
Sales and marketing	11	—	—	11
Accounting	—	—	339	339
Compensation	224	—	367	591
Corporate allocations (a)	35	189	(224)	—
Other segment items (b)	163	27	758	948
Engineering, selling and administrative	780	216	1,240	2,236
Total expenses	1,576	216	1,240	3,032
Segment profit (loss)	$152	$653	$(159)	$646
Reconciliation of Segment profit (loss) to Income (loss) from continuing operations before income taxes
Adjustments and reconciling items				—
Income from continuing operations before income taxes				$646

(a)	The Electronic Instruments and Merchant Investment segments are allocated overhead expenses from the Corporate segment based on each segment's assets as a percentage of Total assets.

(b)	Other segment items for each reportable segment includes the following:
		Electronic Instruments - rent, amortization, professional service fees, and certain other overhead expenses.
		Merchant Investment - legal expense and certain other overhead expenses.
		Corporate - legal expense, insurance expense, filing fees, fees paid to MtronPTI under Amended and Restated Transitional Administrative and Management Services Agreement, and certain other overhead expenses.

Other Segment Disclosures

The following table presents other segment information by segment:

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$1,227	$843	$2,070	$—	$2,070
Depreciation (b)	—	—	—	—	—	—
Amortization (b)	21	—	—	21	—	21
Other significant non-cash items:
Stock-based compensation (c)	—	—	36	36	—	36
Total assets	1,249	24,748	17,148	43,145	—	43,145
Capital expenditures	—	—	—	—	—	—

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$869	$697	$1,566	$—	$1,566
Depreciation (b)	1	—	—	1	—	1
Amortization (b)	21	—	—	21	—	21
Other significant non-cash items:
Stock-based compensation (c)	—	—	3	3	—	3
Total assets	843	23,530	17,477	41,850	—	41,850
Capital expenditures	—	—	—	—	—	—

(a)	Interest revenue is included in Net investment income on the Consolidated Statements of Operations.

(b)	Depreciation and Amortization are included within the other segment expense captions, such as Manufacturing cost of sales, Engineering, or Other segment items.

(c)	Stock-based compensation is included within the Compensation expense caption.

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