LGL GROUP INC

For the period ended Sep 30, 2025. Filed Nov 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.

Sep 30, 2025 · Filed Nov 14, 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") 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 reports 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	$661	$—	$—	$661
Net investment income	—	274	168	442
Net gains	—	—	5	5
Total revenues	661	274	173	1,108
Less:
Manufacturing cost of sales	312	—	—	312
Engineering	74	—	—	74
Commissions	12	—	—	12
Sales and marketing	47	—	—	47
Accounting	—	—	49	49
Compensation	58	—	74	132
Corporation allocations (a)	13	145	(158)	—
Other segment items (b)	41	—	321	362
Engineering, selling and administrative	245	145	286	676
Total expenses	557	145	286	988
Segment profit (loss)	$104	$129	$(113)	$120
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$120

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$650	$—	$—	$650
Net investment income	—	318	213	531
Net losses	—	—	(2)	(2)
Total revenues	650	318	211	1,179
Less:
Manufacturing cost of sales	368	—	—	368
Engineering	54	—	—	54
Commissions	20	—	—	20
Sales and marketing	52	—	—	52
Accounting	—	—	39	39
Compensation	69	—	309	378
Corporation allocations (a)	10	78	(88)	—
Other segment items (b)	33	12	85	130
Engineering, selling and administrative	238	90	345	673
Total expenses	606	90	345	1,041
Segment profit (loss)	$44	$228	$(134)	$138
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$138

(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	$1,650	$—	$—	$1,650
Net investment income	—	783	504	1,287
Net gains	—	—	13	13
Total revenues	1,650	783	517	2,950
Less:
Manufacturing cost of sales	760	—	—	760
Engineering	188	—	—	188
Commissions	52	—	—	52
Sales and marketing	139	—	—	139
Accounting	—	—	174	174
Compensation	166	—	423	589
Corporation allocations (a)	35	331	(366)	—
Other segment items (b)	119	22	777	918
Engineering, selling and administrative	699	353	1,008	2,060
Total expenses	1,459	353	1,008	2,820
Segment profit (loss)	$191	$430	$(491)	$130
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$130

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$1,573	$—	$—	$1,573
Net investment income	—	922	646	1,568
Net losses	—	—	(6)	(6)
Total revenues	1,573	922	640	3,135
Less:
Manufacturing cost of sales	786	—	—	786
Engineering	141	—	—	141
Commissions	75	—	—	75
Sales and marketing	132	—	—	132
Accounting	—	—	227	227
Compensation	189	—	585	774
Corporation allocations (a)	29	204	(233)	—
Other segment items (b)	101	13	432	546
Engineering, selling and administrative	667	217	1,011	1,895
Total expenses	1,453	217	1,011	2,681
Segment profit (loss)	$120	$705	$(371)	$454
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items				—
Income from operations before income taxes				$454

(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)	$—	$274	$168	$442	$—	$442
Amortization (b)	(27)	—	—	(27)	—	(27)
Other significant non-cash items:
Stock-based compensation (c)	—	—	(18)	(18)	—	(18)
Capital expenditures	—	—	—	—	—	—

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$318	$213	$531	$—	$531
Amortization (b)	(11)	—	—	(11)	—	(11)
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)	$—	$783	$504	$1,287	$—	$1,287
Amortization (b)	(16)	—	—	(16)	—	(16)
Other significant non-cash items:
Stock-based compensation (c)	—	—	(44)	(44)	—	(44)
Capital expenditures	—	—	—	—	—	—

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Interest revenue (a)	$—	$922	$646	$1,568	$—	$1,568
Amortization (b)	—	—	—	—	—	—
Other significant non-cash items:
Stock-based compensation (c)	—	—	(27)	(27)	—	(27)
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 LGL Group's identifiable assets by segment as of* September 30, 2025* and* December 31, 2024*:

	Electronic Instruments	Merchant Investment	Corporate	Total	Adjustments and Reconciling Items	Consolidated
Total assets	$1,223	$25,508	$16,553	$43,284	$—	$43,284

	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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