LGL GROUP INC

For the period ended Mar 31, 2025. Filed May 15, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 15, 2025

LGL$6.77+2.1%Stored close · as of Nov 9, 2026

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Contents

Segment Information

3. Segment Information

Chief Operating Decision Maker

The Company's chief operating decision maker ("CODM") is the Chief Executive Officer.

Reportable Segments

The Company reports its results from operations consistent with the manner in which the CODM reviews the business to assess performance and allocation resources. As such, the Company reports its results intwo business 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 cash 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 Condensed 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 presents LGL Group's operations by segment:

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$498	$—	$—	$498
Net investment income	—	247	170	417
Net gains (losses)	—	—	3	3
Total revenues	498	247	173	918
Less:
Manufacturing cost of sales	237	—	—	237
Engineering	57	—	—	57
Commissions	19	—	—	19
Sales and marketing	57	—	—	57
Accounting	—	—	75	75
Compensation	56	—	192	248
Corporate allocations (a)	11	93	(104)	—
Other segment items (b)	42	1	141	184
Engineering, selling and administrative	242	94	304	640
Total expenses	479	94	304	877
Segment profit (loss)	$19	$153	$(131)	$41
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$41

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$392	$—	$—	$392
Net investment income	—	289	210	499
Net (losses) gains	—	—	(3)	(3)
Total revenues	392	289	207	888
Less:
Manufacturing cost of sales	204	—	—	204
Engineering	39	—	—	39
Commissions	19	—	—	19
Sales and marketing	33	—	—	33
Accounting	—	—	156	156
Compensation	58	—	130	188
Corporate allocations (a)	9	49	(58)	—
Other segment items (b)	28	—	142	170
Engineering, selling and administrative	186	49	370	605
Total expenses	390	49	370	809
Segment profit (loss)	$2	$240	$(163)	$79
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$79

(a)	The Electronic Instruments and Merchant Investment segments are allocated overhead expenses from the Corporate segment based on each segment's asset 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 tables presents other segment information by segment for thethree months ended* March 31, 2025and2024*:

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$247	$170	$417	$—	$417
Amortization (b)	6	—	—	6	—	6
Other significant non-cash items
Stock-based compensation (c)	—	—	9	9	—	9
Capital expenditures	—	—	—	—	—	—

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$289	$210	$499	$—	$499
Amortization (b)	5	—	—	5	—	5
Other significant non-cash items
Stock-based compensation (c)	—	—	9	9	—	9
Capital expenditures	—	—	—	—	—	—

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

(b)	Amortization is 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.

The following tables present other segment information by segment as of* March 31, 2025* and* December 31, 2024*:

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Total assets	$998	$24,993	$17,311	$43,302	$—	$43,302

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Total assets	$1,249	$24,748	$17,148	$43,145	$—	$43,145

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