The LGL Group, Inc. Reports Second Quarter 2026 Results
Rhea-AI Summary
LGL Group (NYSE American: LGL) reported second quarter 2026 revenues of $1.15 million, up 24.8% from $0.92 million a year earlier, driven mainly by a 52.7% increase in Electronic Instruments net sales. Q2 gross margin declined to 49.2% from 57.0%.
Net loss attributable to common stockholders widened to $353,000, or $0.06 per diluted share, versus a $51,000 loss, or $0.01 per share, in Q2 2025. For the first half of 2026, revenues rose 21.5% to $2.24 million, while net loss expanded to $0.98 million.
Order backlog reached $3.63 million at June 30, 2026, up $3.00 million since December 31, 2025, and LGL received a series of orders totaling $6.0 million from a satellite communications customer, $3.4 million of which was already in backlog. Cash, cash equivalents and marketable securities were $45.2 million at quarter-end, rising to over $86.0 million after a July 2026 rights offering that generated roughly $41.8 million in gross proceeds and added 6,062,714 shares.
Positive
- Q2 2026 revenue $1.153M, up 24.8% year over year
- H1 2026 revenue $2.238M, up 21.5% versus H1 2025
- Electronic Instruments sales up 52.7% year over year in Q2 2026
- Backlog $3.628M at June 30, 2026, up $3.003M from year-end 2025
- New satellite communications orders totaling $6.0M through July 31, 2026
- Rights offering proceeds about $41.8M, lifting cash and securities to over $86.0M
Negative
- Q2 2026 gross margin fell to 49.2% from 57.0% in Q2 2025
- Q2 net loss widened to $353K from $51K year over year
- H1 2026 net loss $975K versus $57K in the prior-year period
- Engineering, selling and administrative expenses rose to $1.219M from $744K in Q2 2025
- Book value per share decreased to $6.77 from $7.04 at December 31, 2025
- Total Q2 expenses increased 67.5% year over year to $1.600M
News Explained
The completed offering expanded the share base, while Marc Gabelli is reported to own 4,387,727 shares.
The completed
That larger share count reduces existing holders’ percentage ownership absent offsetting changes.
The release reports that Marc Gabelli bought 3,331,675 shares and now owns 4,387,727 shares.
The reported backlog consists of unfilled orders based on signed contracts that the company considers firm, primarily for fulfillment within the next 12 months, with most shipments expected within 90 days.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 11 | Q1 earnings | Negative | -3.5% | Revenue and backlog growth accompanied lower margins and a larger quarterly loss. |
| Nov 13 | Q3 earnings | Positive | +6.0% | Net income and diluted earnings improved despite lower revenue and gross margin. |
| May 15 | Q1 earnings | Negative | -3.2% | A small revenue increase coincided with a return to net loss. |
| Apr 01 | Q4 earnings | Positive | -3.2% | Revenue, earnings per share, gross margin, and backlog all improved year over year. |
| Nov 13 | Q3 earnings | Negative | +2.8% | Revenue increased, but diluted earnings and gross margin declined year over year. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings releases averaged a -0.23% reaction, with three aligned and two divergent reactions across the five supplied events.
Key Terms
convertible promissory note financial
marketable securities financial
non-controlling interests financial
mark-to-market financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Revenues increased
$229,000 t o$1,153,000 for the three months ended June 30, 2026 compared to$924,000 for the three months ended June 30, 2025 driven by our Electronic Instruments segment - Backlog within the Electronic Instruments segment increased
$3,003,000 t o$3,628,000 as of June 30, 2026 from$625,000 as of December 31, 2025 - Received orders totaling
$6.0 million from a satellite communications customer through July 31, 2026, of which$3.4 million was already included in backlog as of June 30, 2026 - Cash and cash equivalents and marketable securities were
$45.2 million as of June 30, 2026 compared to$41.6 million as of December 31, 2025 - Completed rights offering on July 24, 2026, issuing 6,062,714 shares with gross proceeds of
$41.8 million and increasing cash and cash equivalents to over$86.0 million
Orlando, Florida--(Newsfile Corp. - August 14, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL," "LGL Group," or the "Company") announced today its financial results for the second quarter ended June 30, 2026.
"This quarter's revenue growth and record backlog reflect strong underlying demand for the mission-critical timing and synchronization technology our platforms provide," said Jason Lamb, LGL Group Chief Executive Officer. "We are encouraged by the trajectory of our aerospace and defense and commercial applications and remain focused on translating this momentum into sustained long-term growth and stockholder value creation."
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||
| (in thousands, except share data) | 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||||||||||||||||||
| U.S. GAAP Financial Measures | ||||||||||||||||||||||||||||
| Revenues | $ | 1,153 | $ | 924 | $ | 2,238 | $ | 1,842 | ||||||||||||||||||||
| Gross margin | ( | ( | ||||||||||||||||||||||||||
| Net loss | $ | (353) | $ | (51) | $ | (975) | $ | (57) | 1, | |||||||||||||||||||
| Net loss per diluted share | $ | (0.06) | $ | (0.01) | $ | (0.15) | $ | (0.01) | 1, | |||||||||||||||||||
| (in thousands, except share data) | June 30, 2026 | December 31, 2025 | % Change | |||||||||||
| U.S. GAAP Financial Measures | ||||||||||||||
| Book value attributable to LGL Group common stockholders | $ | 44,342 | $ | 43,488 | ||||||||||
| Book value attributable to LGL Group common stockholders per share | $ | 6.77 | $ | 7.04 | ( | |||||||||
Consolidated Results
Second Quarter 2026
Total revenues were
Gross margin was
Net loss attributable to LGL Group common stockholders was (
Fiscal Year to Date 2026
Total revenues were
Gross margin was
Net loss attributable to LGL group common stockholders was (
Cash and cash equivalents and marketable securities were
Book value attributable to LGL Group common stockholders was
Backlog
As of June 30, 2026, our order backlog was
Liquidity
Our working capital metrics were as follows:
| (in thousands) | June 30, 2026 | December 31, 2025 | ||||||
| Current assets | $ | 47,006 | $ | 46,324 | ||||
| Less: Current liabilities | 1,811 | 915 | ||||||
| Working capital | $ | 45,195 | $ | 45,409 | ||||
As of June 30, 2026, LGL Group had investments (classified within Cash and cash equivalents and Marketable securities) with a fair value of
Warrant Dividend Program
In January 2026, LGL Group completed its warrant dividend program, generating approximately
Rights Offering
In July 2026, LGL Group completed a transferable subscription rights offering (the "Rights Offering") generating roughly
Marc Gabelli, Executive Chairman of LGL Group, purchased 3,331,675 shares, increasing his total share ownership to 4,387,727 shares.
About The LGL Group, Inc.
The LGL Group, Inc. ("LGL," "LGL Group," or the "Company") is a holding company engaged in services, merchant investment and manufacturing business activities. Precise Time and Frequency, LLC ("PTF") is a globally positioned producer of industrial Electronic Instruments and commercial products and services. Founded in 2002, PTF operates from our design and manufacturing facility in Wakefield, Massachusetts. Lynch Capital International LLC is focused on the development of value through investments.
LGL Group was incorporated in 1928 under the laws of the State of Indiana, and in 2007, the Company was reincorporated under the laws of the State of Delaware as The LGL Group, Inc. We maintain our executive offices at 2525 Shader Road, Orlando, Florida 32804. Our telephone number is (202) 780-5941. Our Internet address is www.lglgroup.com. LGL Group common stock is traded on the NYSE American ("NYSE") under the symbol "LGL."
LGL Group's business strategy is primarily focused on growth through expanding new and existing operations across diversified industries. The Company's engineering and design origins date back to the early 1900s. In 1917, Lynch Glass Machinery Company ("Lynch Glass"), the predecessor of LGL Group, was formed and emerged in the late 1920s as a successful manufacturer of glass-forming machinery. Lynch Glass was then renamed Lynch Corporation ("Lynch") and was incorporated in 1928 under the laws of the State of Indiana. In 1946, Lynch was listed on the "New York Curb Exchange," the predecessor to the NYSE American. The Company has a had a long history of owning and operating various business in the precision engineering, manufacturing, and services sectors.
Cautionary Note Concerning Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the Company's financial condition, results of operations, business strategy and financial needs. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to LGL Group, are intended to identify forward-looking statements.
These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by LGL Group with the Securities and Exchange Commission, including those risks set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K as filed with the SEC on March 30, 2026. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. LGL Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
###
Contact:
The LGL Group, Inc.
(202) 780-5941
info@lglgroup.com
The LGL Group, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||
| (in thousands, except share data) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||
| Revenues: | |||||||||||||||||||||
| Net sales | $ | 750 | $ | 491 | $ | 1,432 | $ | 989 | |||||||||||||
| Net investment income | 412 | 428 | 801 | 845 | |||||||||||||||||
| Net (losses) gains | (9) | 5 | 5 | 8 | |||||||||||||||||
| Total revenues | 1,153 | 924 | 2,238 | 1,842 | |||||||||||||||||
| Expenses: | |||||||||||||||||||||
| Manufacturing cost of sales | 381 | 211 | 715 | 448 | |||||||||||||||||
| Engineering, selling and administrative | 1,219 | 744 | 2,755 | 1,384 | |||||||||||||||||
| Total expenses | 1,600 | 955 | 3,470 | 1,832 | |||||||||||||||||
| (Loss) income before income taxes | (447) | (31) | (1,232) | 10 | |||||||||||||||||
| Income tax (benefit) expense | (95) | 14 | (275) | 42 | |||||||||||||||||
| Net loss | (352) | (45) | (957) | (32) | |||||||||||||||||
| Less: Net income attributable to non-controlling interests | 1 | 6 | 18 | 25 | |||||||||||||||||
| Net loss attributable to LGL Group common stockholders | $ | (353) | $ | (51) | $ | (975) | $ | (57) | |||||||||||||
| Loss per common share attributable to LGL Group common stockholders: | |||||||||||||||||||||
| Basic | $ | (0.06) | $ | (0.01) | $ | (0.15) | $ | (0.01) | |||||||||||||
| Diluted | $ | (0.06) | $ | (0.01) | $ | (0.15) | $ | (0.01 | |||||||||||||
| Weighted average shares outstanding: | |||||||||||||||||||||
| Basic | 6,410,602 | 5,352,937 | 6,379,287 | 5,352,937 | |||||||||||||||||
| Diluted | 6,410,602 | 5,352,937 | 6,379,287 | 5,352,937 | |||||||||||||||||
The LGL Group, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
| (in thousands) | June 30, 2026 | December 31, 2025 | |||||||
| Assets: | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 45,115 | $ | 41,514 | |||||
| Restricted cash and cash equivalents | 320 | — | |||||||
| Marketable securities | 41 | 36 | |||||||
| Accounts receivable, net of allowance | 538 | 572 | |||||||
| Inventories, net | 628 | 297 | |||||||
| Prepaid expenses and other current assets | 364 | 255 | |||||||
| Warrant proceeds receivable | — | 3,650 | |||||||
| Total current assets | 47,006 | 46,324 | |||||||
| Convertible promissory note, at fair value | 1,968 | — | |||||||
| Right-of-use lease assets | 237 | 247 | |||||||
| Intangible assets, net | 4 | 15 | |||||||
| Deferred income tax assets | 462 | 190 | |||||||
| Other assets | 7 | — | |||||||
| Total assets | $ | 49,684 | $ | 46,776 | |||||
| Liabilities: | |||||||||
| Total current liabilities | 1,811 | 915 | |||||||
| Non-current liabilities | 286 | 296 | |||||||
| Total liabilities | 2,097 | 1,211 | |||||||
| Stockholders' equity: | |||||||||
| Total LGL Group stockholders' equity | 44,342 | 43,488 | |||||||
| Non-controlling interests | 3,245 | 2,077 | |||||||
| Total stockholders' equity | 47,587 | 45,565 | |||||||
| Total liabilities and stockholders' equity | $ | 49,684 | $ | 46,776 | |||||
The LGL Group, Inc.
Segment Results
(Unaudited)
| Three Months Ended June 30, | |||||||||||||||||||
| (in thousands) | 2026 | 2025 | $ Change | % Change | |||||||||||||||
| Revenues: | |||||||||||||||||||
| Electronic Instruments | $ | 750 | $ | 491 | $ | 259 | |||||||||||||
| Merchant Investment | 239 | 262 | (23) | ( | |||||||||||||||
| Corporate | 164 | 171 | (7) | ( | |||||||||||||||
| Total revenues | 1,153 | 924 | 229 | ||||||||||||||||
| Expenses: | |||||||||||||||||||
| Electronic Instruments | 722 | 423 | 299 | ||||||||||||||||
| Merchant Investment | 202 | 114 | 88 | ||||||||||||||||
| Corporate | 676 | 418 | 258 | ||||||||||||||||
| Total expenses | 1,600 | 955 | 645 | ||||||||||||||||
| Income (loss) before income taxes | |||||||||||||||||||
| Electronic Instruments | 28 | 68 | (40) | ( | |||||||||||||||
| Merchant Investment | 37 | 148 | (111) | ( | |||||||||||||||
| Corporate | (512) | (247) | (265) | ||||||||||||||||
| Loss before income taxes | (447) | (31) | (416) | 1, | |||||||||||||||
| Income tax (benefit) expense | (95) | 14 | (109) | ( | |||||||||||||||
| Net loss | (352) | (45) | (307) | ||||||||||||||||
| Less: Net income attributable to non-controlling interests | 1 | 6 | (5) | ( | |||||||||||||||
| Net loss attributable to LGL Group common stockholders | $ | (353) | $ | (51) | $ | (302) | |||||||||||||
The LGL Group, Inc.
Segment Results
(Unaudited)
| Six Months Ended June 30, | ||||||||||||||||||
| (in thousands) | 2026 | 2025 | $ Change | % Change | ||||||||||||||
| Revenues: | ||||||||||||||||||
| Electronic Instruments | $ | 1,432 | $ | 989 | $ | 443 | ||||||||||||
| Merchant Investment | 462 | 509 | (47) | ( | ||||||||||||||
| Corporate | 344 | 344 | — | |||||||||||||||
| Total revenues | 2,238 | 1,842 | 396 | |||||||||||||||
| Expenses: | ||||||||||||||||||
| Electronic Instruments | 1,387 | 902 | 485 | |||||||||||||||
| Merchant Investment | 327 | 208 | 119 | |||||||||||||||
| Corporate | 1,756 | 722 | 1,034 | |||||||||||||||
| Total expenses | 3,470 | 1,832 | 1,638 | |||||||||||||||
| Income (loss) before income taxes | ||||||||||||||||||
| Electronic Instruments | 45 | 87 | (42) | ( | ||||||||||||||
| Merchant Investment | 135 | 301 | (166) | ( | ||||||||||||||
| Corporate | (1,412) | (378) | (1,034) | |||||||||||||||
| (Loss) income before income taxes | (1,232) | 10 | (1,242) | (12, | ||||||||||||||
| Income tax (benefit) expense | (275) | 42 | (317) | ( | ||||||||||||||
| Net loss | (957) | (32) | (925) | 2, | ||||||||||||||
| Less: Net income attributable to non-controlling interests | 18 | 25 | (7) | ( | ||||||||||||||
| Net loss attributable to LGL Group common stockholders | $ | (975) | $ | (57) | $ | (918) | 1, | |||||||||||
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309715