LGL GROUP INC

For the period ended Jun 30, 2025. Filed Aug 14, 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.

Jun 30, 2025 · Filed Aug 14, 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 allocate resources. As such, the Company report its results intwo reportable 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 assesses 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	$491	$—	$—	$491
Net investment income	—	262	166	428
Net gains (losses)	—	—	5	5
Total revenues	491	262	171	924
Less:
Manufacturing cost of sales	211	—	—	211
Engineering	57	—	—	57
Commissions	21	—	—	21
Sales and marketing	35	—	—	35
Accounting	—	—	50	50
Compensation	52	—	157	209
Corporation allocations (a)	11	93	(104)	—
Other segment items (b)	36	21	315	372
Engineering, selling and administrative	212	114	418	744
Total expenses	423	114	418	955
Segment profit (loss)	$68	$148	$(247)	$(31)
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Loss from operations before income taxes				$(31)

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$531	$—	$—	$531
Net investment income	—	315	223	538
Net gains (losses)	—	—	(1)	(1)
Total revenues	531	315	222	1,068
Less:
Manufacturing cost of sales	214	—	—	214
Engineering	48	—	—	48
Commissions	36	—	—	36
Sales and marketing	47	—	—	47
Accounting	—	—	32	32
Compensation	62	—	146	208
Corporation allocations (a)	10	77	(87)	—
Other segment items (b)	40	1	205	246
Engineering, selling and administrative	243	78	296	617
Total expenses	457	78	296	831
Segment profit (loss)	$74	$237	$(74)	$237
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Loss from operations before income taxes				$237

(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.

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$989	$—	$—	$989
Net investment income	—	509	336	845
Net gains (losses)	—	—	8	8
Total revenues	989	509	344	1,842
Less:
Manufacturing cost of sales	448	—	—	448
Engineering	114	—	—	114
Commissions	40	—	—	40
Sales and marketing	92	—	—	92
Accounting	—	—	125	125
Compensation	108	—	349	457
Corporation allocations (a)	22	186	(208)	—
Other segment items (b)	78	22	456	556
Engineering, selling and administrative	454	208	722	1,384
Total expenses	902	208	722	1,832
Segment profit (loss)	$87	$301	$(378)	$10
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$10

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$923	$—	$—	$923
Net investment income	—	604	433	1,037
Net gains (losses)	—	—	(4)	(4)
Total revenues	923	604	429	1,956
Less:
Manufacturing cost of sales	418	—	—	418
Engineering	87	—	—	87
Commissions	55	—	—	55
Sales and marketing	80	—	—	80
Accounting	—	—	188	188
Compensation	120	—	276	396
Corporation allocations (a)	19	126	(145)	—
Other segment items (b)	68	1	347	416
Engineering, selling and administrative	429	127	666	1,222
Total expenses	847	127	666	1,640
Segment profit (loss)	$76	$477	$(237)	$316
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$316

(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 the periods indicated:

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$262	$166	$428	$—	$428
Amortization (b)	5	—	—	5	—	5
Other significant non-cash items:
Stock-based compensation (c)	—	—	17	17	—	17
Capital expenditures	—	—	—	—	—	—

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$315	$223	$538	$—	$538
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)	$—	$509	$336	$845	$—	$845
Amortization (b)	11	—	—	11	—	11
Other significant non-cash items:
Stock-based compensation (c)	—	—	26	26	—	26
Capital expenditures	—	—	—	—	—	—

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$604	$433	$1,037	$—	$1,037
Amortization (b)	11	—	—	11	—	11
Other significant non-cash items:
Stock-based compensation (c)	—	—	18	18	—	18
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 table presents LGL Group's identifiable assets by segment as of* June 30, 2025* and* December 31, 2024*:

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Total assets	$1,072	$25,235	$16,723	$43,030	$—	$43,030

	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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