M-tron Industries, Inc.
For the period ended Mar 31, 2026. Filed May 13, 2026.
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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, 2026 · Filed May 13, 2026
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
We report our results of operations consistent with the manner in which the CODM reviews the business to assess performance and allocate resources. As such, we report our results in a single reporting segment: Electronic Components.
The Electronic Components segment derives revenues from sales to customers of wide range of precision frequency control and spectrum control solutions, including, butnot limited to, the following:
| • | filters; |
| • | oscillators; |
| • | crystal resonators; and |
| • | integrated microwave assemblies. |
Measure of Segment Profit or Loss and Segment Assets
The accounting policies of the Electronic Components segment are the same as those described in Note2 – Summary of Significant Accounting Policies.
The CODM assesses the performance of and decides how to allocate resources to the Electronic Components segment based on Segment gross profit (loss) as well as Net income, which is also reported on the Consolidated Statements of Operations as consolidated Net income. The CODM uses Segment gross profit to evaluate to evaluate the manufacturing costs of the Electronic Components segment’s products and to ensure those products are priced appropriately. The CODM uses Segment net income to evaluate income generated from segment assets in deciding whether to reinvest profits into the Electronic Components segment or into other parts of the entity, such as for capital expenditures or acquisitions. Additionally, the CODM uses net income to monitor budget versus actual results as well as in competitive analysis to Mtron's peers. The budget versus actuals and competitive analysis are used in assessing the performance of the Electronic Components segment.
The measure of segment assets is reported on the Consolidated Balance Sheets as consolidated Total assets.
The following table presents Mtron's operations for the Electronic Components segment for thethree months ended* March 31, 2026and2025*:
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenues | $14,686 | $12,732 |
| Less: | ||
| Cost of goods sold | 6,094 | 5,221 |
| Manufacturing expenses | 1,998 | 2,105 |
| Segment gross profit | $6,594 | $5,406 |
| Less: | ||
| Research and development costs | 849 | 722 |
| Selling and commissions | 988 | 975 |
| General and administrative expenses | 2,175 | 1,670 |
| Income tax expense | 470 | 484 |
| Other segment items (a) | (276) | (75) |
| Segment net income | $2,388 | $1,630 |
| Reconciliation of Segment gross profit to Consolidated net income | ||
| Segment operating expenses, net | (3,984) | (3,393) |
| Other income | 248 | 101 |
| Income tax expense | (470) | (484) |
| Consolidated net income | $2,388 | $1,630 |
| Reconciliation of Segment net income to Consolidated net income | ||
| Adjustments and reconciling items | — | — |
| Consolidated net income | $2,388 | $1,630 |
| (a) | Other segment items includes the following: |
|---|
| • | Interest income |
| • | Income received under the Amended and Restated Transitional Administrative and Management Services Agreement with The LGL Group, Inc. |
| • | Foreign currency gains and losses |
| • | Other gains and losses |
| • | Expense reimbursements paid to / received from The LGL Group, Inc. |
8
Other Segment Disclosures
The following tables present other segment information for the Electronic Components segment as of* March 31, 2026* and* December 31, 2025* and for thethree months ended* March 31, 2026and2025*:
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Interest income | $386 | $115 |
| Interest expense | (16) | (4) |
| Depreciation | 302 | 250 |
| Amortization | — | — |
| Other significant non-cash items: | ||
| Stock-based compensation | 382 | 249 |
| Capital expenditures | (452) | (586) |
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| Total assets | $79,295 | $68,383 |
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