The LGL Group, Inc. Reports Third Quarter 2026 Results

Rhea-AI Summary

The LGL Group (NYSE American: LGL) reported third-quarter 2026 revenue of $1.464 million, up from the prior-year quarter. Revenue rose 32.1%, but common stockholders recorded a $45,000 loss versus $772,000 income a year earlier. Gross margin fell to 31.8% from 52.8%, reflecting volume pricing for one customer and higher inventory reserves.

Nine-month revenue increased 25.5% to $3.702 million, while the common-stockholder loss reached $1.020 million versus $715,000 income. Electronic Instruments backlog was $6.5 million at September 30, versus $625,000 at December 31, 2025. Cash, cash equivalents and marketable securities rose to $87.0 million from $41.6 million. The July 24 rights offering raised $41.5 million net through 6,062,714 new shares. Book value per share declined 3.3% to $6.81; warrant and rights shares were issued below book value.

10 points · 1 major

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Positive

• Major pointJuly 2026 rights offering generated $41.5 million in net proceeds. 47% of market cap
• Moderate pointQ3 revenue rose 32.1% to $1.464 million from $1.108 million in Q3 2025.
• Moderate pointNine-month revenue increased 25.5% to $3.702 million from $2.950 million in 2025.
• Moderate pointElectronic Instruments backlog reached $6.5 million at September 30, 2026, versus $625,000 at December 31, 2025. 7.4% of market cap
• Moderate pointCash, cash equivalents and marketable securities reached $87.0 million, versus $41.6 million at December 31, 2025.
• Moderate pointJanuary 2026 warrant program generated approximately $5.0 million gross and $4.6 million net. 5.7% of market cap
• Moderate pointWorking capital increased to $86.786 million at September 30, 2026, from $45.409 million at December 31, 2025.
• Moderate pointCommon-stockholder book value rose 97.6% to $85.932 million from $43.488 million at December 31, 2025.

2 minor points

• Minor pointSkyline Instruments May 2026 received $1.7 million in capital contributions from non-controlling interests.
• Minor pointQ3 Corporate pretax loss narrowed to $33,000 from $113,000 in Q3 2025.

Negative

• Major point6,062,714 rights-offering shares and 1,051,664 warrant-program shares diluted holders; both issuances were below book value.
• Moderate pointQ3 common-stockholder loss was $45,000, or $0.00 diluted, versus $772,000 income, or $0.14, in Q3 2025.
• Moderate pointNine-month common-stockholder loss was $1.020 million, or $0.13 diluted, versus $715,000 income, or $0.12, in 2025.
• Moderate pointQ3 gross margin fell to 31.8% from 52.8%, reflecting customer volume pricing and higher inventory reserves.
• Moderate pointNine-month gross margin fell to 44.0% from 53.9%, reflecting customer volume pricing and higher inventory reserves.
• Moderate pointNine-month Corporate pretax loss widened to $1.445 million from $491,000 in 2025.
• Moderate pointStock-based compensation increased $874,000 in the first nine months of 2026.
• Moderate pointProfessional service fees increased $451,000 in the first nine months of 2026.

7 minor points

• Minor pointBook value per share declined 3.3% to $6.81 from $7.04 at December 31, 2025.
• Minor pointQ3 Electronic Instruments pretax loss was $64,000, versus $104,000 income in Q3 2025.
• Minor pointNine-month Electronic Instruments pretax loss was $19,000, versus $191,000 income in 2025.
• Minor pointQ3 Merchant Investment pretax income fell 5.4% to $122,000 from $129,000 in Q3 2025.
• Minor pointNine-month Merchant Investment pretax income fell 40.2% to $257,000 from $430,000 in 2025.
• Minor pointSalaries, wages and benefits increased $140,000 in the first nine months of 2026.
• Minor pointOther corporate expenses increased $178,000 in the first nine months of 2026.

News Explained

The completed rights offering issued 6,062,714 shares, reducing existing holders’ percentage ownership absent offsetting changes; Executive Chairman Marc Gabelli bought 3,331,675 shares, bringing his total to 4,387,727.

Key Figures

Q3 revenue: $1.464M vs. $1.108M; +32.1% Gross margin: 31.8% vs. 52.8%; down 2,100 basis points Net income (loss) attributable to common stockholders: ($45,000) vs. $772,000 +3 more

Q3 revenue

$1.464M vs. $1.108M; +32.1%

Q3 2026 vs. Q3 2025

Gross margin

31.8% vs. 52.8%; down 2,100 basis points

Q3 2026 vs. Q3 2025

Net income (loss) attributable to common stockholders

($45,000) vs. $772,000

Q3 2026 vs. Q3 2025

Electronic Instruments backlog

$6.463M vs. $625,000 and $776,000

As of September 30, 2026 vs. December 31, 2025 and September 30, 2025

Cash, cash equivalents and marketable securities

$87.0M vs. $41.6M

As of September 30, 2026 vs. December 31, 2025

Completed rights offering

6,062,714 shares issued; $41.5M net proceeds

Completed in July 2026

Previous Earnings Reports

2 past events · Latest: Aug 14

Same Type 2 events

1. Aug 14

   Q2 earnings

   24h Move

   +0.7%

   Revenue grew, but gross margin compressed and common-stockholder net loss widened.

2. Nov 13

   Q3 earnings

   24h Move

   +6.0%

   Profit rose year over year despite lower revenue and gross margin.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

convertible promissory note, subscription rights offering, uncertain tax position, stock-based compensation

4 terms

convertible promissory note financial

"partially offset by the $2.5 million investment in the convertible promissory note"

A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.

subscription rights offering financial

"LGL Group completed a transferable subscription rights offering"

A subscription rights offering is a company giving its existing shareholders the chance to buy additional new shares at a specified price before the shares are offered to the public. It matters to investors because exercising the rights lets them maintain their ownership percentage and potentially buy stock at a discount, while declining can lead to ownership dilution and changes in the share price as the company raises new capital.

uncertain tax position financial

"the reversal of a previously recorded uncertain tax position in 2025"

An uncertain tax position is when a company takes a tax treatment on its returns but there is a real chance a tax authority could disagree, leading to additional taxes, interest or penalties. Investors care because resolving that disagreement can change a company’s reported profits and cash on hand — like getting a surprise bill after a meal — so it affects valuation, risk and future cash flow forecasts.

stock-based compensation financial

"an $874,000 increase in stock-based compensation"

Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.

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• Total revenues were $1,464,000 in Q3 2026 compared to $1,108,000 in Q3 2025
• Net income (loss) attributable to LGL Group common stockholders was ($45,000) in Q3 2026 compared to $772,000 in Q3 2025
• Backlog within the Electronic Instruments segment was $6.5 million as of September 30, 2026 compared to $625,000 as of December 31, 2025
• Cash and cash equivalents and marketable securities were $87.0 million as of September 30, 2026 compared to $41.6 million as of December 31, 2025
• Book value attributable to LGL Group common stockholders per share was $6.81 as of September 30, 2026 compared to $7.04 as of December 31, 2025
• Completed rights offering on July 24, 2026, issuing 6,062,714 shares with net proceeds of $41.5 million

Arlington, Virginia--(Newsfile Corp. - November 12, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL," "LGL Group," or the "Company") announced today its financial results for the third quarter ended September 30, 2026.

"Our third quarter results reflect continued demand in our Electronic Instruments segment. Revenues increased 32.1% from Q3 2025, driven by higher net sales and increased net investment income on larger invested balances," said Jason Lamb, LGL Group Chief Executive Officer. "While volume discounts and costs associated with scaling production weighed on gross margin, we remain focused on disciplined pricing and cost management. Our $6.5 million backlog as of September 30, 2026 provides visibility heading into the fourth quarter, and we continue to invest in the business to support mission-critical defense, aerospace, and communications applications."

Summary Financial Results

			Three Months Ended September 30,									Nine Months Ended September 30,
(in thousands, except per share data)			2026			2025			Change			2026			2025			Change
U.S. GAAP Financial Measures
Revenues		$	1,464		$	1,108			32.1%		$	3,702		$	2,950			25.5%
Gross margin			31.8%			52.8%			(2,100) bps			44.0%			53.9%			(990) bps
Net (loss) income attributable to LGL Group common stockholders		$	(45	)	$	772			n/m		$	(1,020	)	$	715			n/m
Net (loss) income attributable to LGL Group common stockholders per diluted share		$	(0.00	)	$	0.14			n/m		$	(0.13	)	$	0.12			n/m

 

(in thousands, except share and per share data)			September 30, 2026			December 31, 2025			% Change
U.S. GAAP Financial Measures
Book value attributable to LGL Group common stockholders		$	85,932		$	43,488			97.6%
Book value attributable to LGL Group common stockholders per share		$	6.81		$	7.04			(3.3%)
Common stock outstanding			12,613,149			6,174,950

 

1

 

Summary Segment Financial Results

The following table summarizes income (loss) before income taxes of our reportable segments and Corporate:

			Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)			2026			2025			% Change		2026				2025			% Change
Electronic Instruments		$	(64	)	$	104			n/m		$	(19	)	$	191			n/m
Merchant Investment			122			129			(5.4%)			257			430			(40.2%)
Corporate			(33	)		(113	)		70.8%			(1,445	)		(491	)		(194.3%)
Income (loss) before income taxes		$	25		$	120			(79.2%)		$	(1,207	)	$	130			n/m

 

Consolidated Results

Third Quarter 2026

Total revenues were $1,464,000 in Q3 2026 compared to $1,108,000 in Q3 2025. Net sales were $720,000 compared to $661,000, reflecting higher product shipments. Net investment income was $744,000 compared to $442,000, reflecting higher balances invested in United States Treasury money market funds and accrued interest earned on the Skyline Note.

Gross margin was 31.8% in Q3 2026 compared to 52.8% in Q3 2025, a decrease of 2,100 basis points, primarily due to changes in product and pricing mix associated with volume-based pricing extended to a single customer in connection with increased order volume as well as higher inventory reserves associated with increased inventory levels.

Net (loss) income attributable to LGL Group common stockholders was ($45,000), or ($0.00) per diluted share, in Q3 2026 compared to $772,000, or $0.14 per diluted share, in Q3 2025. The change was primarily due to the reversal of a previously recorded uncertain tax position in 2025 that did not occur in 2026.

Fiscal Year to Date 2026

Total revenues were $3,702,000 for the first nine months of 2026 compared to $2,950,000 for the first nine months of 2025. Net sales were $2,152,000 compared to $1,650,000, reflecting higher product shipments. Net investment income was $1,545,000 compared to $1,287,000, reflecting higher balances invested in United States Treasury money market funds and accrued interest earned on the Skyline Note.

Gross margin was 44.0% for the first nine months of 2026 compared to 53.9% for the first nine months of 2025, a decrease of 990 basis points, primarily due to changes in product and pricing mix associated volume-based pricing extended to a single customer in connection with increased order volume as well as higher inventory reserves associated with increased inventory levels.

Net (loss) income attributable to LGL Group common stockholders was ($1,020,000), or ($0.13) per diluted share, compared with $715,000, or $0.12 per diluted share, in 2025. The change was primarily due to higher Engineering, selling and administrative expenses driven by an $874,000 increase in stock-based compensation due to grants made to key employees in January and May 2026, a $451,000 increase in professional service fees, a $140,000 increase in salaries, wages, and benefits, and a $178,000 increase in other corporate expenses partially offset by the increase in revenues discussed above.

Segment and Corporate Results

Third Quarter 2026

Electronic Instruments

Electronic Instruments income (loss) before income taxes was ($64,000) in Q3 2026 compared to $104,000 in Q3 2025. The change was primarily due to higher Manufacturing cost of sales driven by the growth in revenues and changes in product and pricing mix and higher Engineering, selling and administrative driven by higher engineering-related costs and professional services fees partially offset by higher net sales driven by higher product shipments.

Merchant Investment

Merchant Investment income (loss) before income taxes was $122,000 in Q3 2026 compared to $129,000 in Q3 2025. The change was primarily due to higher Net investment income driven by accrued interest earned on the Skyline Note partially offset by lower yields on investments in United States Treasury money market funds and higher Engineering, selling and administrative driven by higher corporate-level expenses allocated to the Merchant Investment segment.

Corporate

Corporate income (loss) before income taxes was ($33,000) in Q3 2026 compared to ($113,000) in Q3 2025. The change was primarily due to higher Net investment income driven by higher balances invested in United States Treasury money market funds partially offset by higher Engineering, selling and administrative related to higher stock-based compensation, higher salaries and wages and related benefits, and higher professional services fees.

Fiscal Year to Date 2026

Electronic Instruments

Electronic Instruments income (loss) before income taxes was ($19,000) for the first nine months of 2026 compared to $191,000 for the first nine months of 2025. The change was primarily due to higher Manufacturing cost of sales driven by the growth in revenues and changes in product and pricing mix and higher Engineering, selling and administrative expenses driven by higher engineering-related costs and professional services fees partially offset by higher net sales driven by higher product shipments.

Merchant Investment

Merchant Investment income (loss) before income taxes was $257,000 for the first nine months of 2026 compared to $430,000 for the first nine months of 2025. The change was primarily due to lower Net investment income driven by lower yields on investments in United States Treasury money market funds partially offset by accrued interest earned on the Skyline Note and higher Engineering, selling and administrative driven by higher corporate-level expenses allocated to the Merchant Investment segment and formation costs related to Skyline SPV.

Corporate

Corporate income (loss) before income taxes was ($1,445,000) for the first nine months of 2026 compared to ($491,000) for the first nine months of 2025. The change was primarily due to higher Engineering, selling and administrative driven by higher stock-based compensation, higher salaries and wages and related benefits, and higher professional services fees partially offset by higher Net investment income driven by higher balances invested in United States Treasury money market funds.

Backlog and Orders

As of September 30, 2026, Electronic Instruments backlog was $6,463,000 compared to $625,000 as of December 31, 2025 and $776,000 as of September 30, 2025. Backlog consists of amounts under signed contracts that have not yet been fulfilled. Backlog is adjusted quarterly to reflect cancellations, deferrals, and revisions to scope and cost, if any.

Liquidity and Capital

Cash and cash equivalents and marketable securities was $87.0 million as of September 30, 2026 compared to $41.6 million as of December 31, 2025. The change was primarily due to $41.5 million of net proceeds from the subscription rights offering completed in July 2026, $4.6 million of net proceeds from the warrant dividend program completed in January 2026, and $1.7 million in capital contributions from non-controlling interests into Skyline Instruments May 2026, a Series of CGF2021 LLC partially offset by the $2.5 million investment in the convertible promissory note issued by Skyline Instruments Corporation.

Our working capital metrics were as follows:

(in thousands)			September 30, 2026			December 31, 2025
Current assets		$	88,741		$	46,324
Less: Current liabilities			1,955			915
Working capital		$	86,786		$	45,409

 

Book value attributable to LGL Group common stockholders was $85.9 million, or $6.81 per share, as of September 30, 2026 compared to $43.5 million, or $7.04 per share, as of December 31, 2025. The change was primarily due to the Net loss attributable to LGL Group common stockholders as well as the warrant dividend and rights offering proceeds, which were issued at a discount to book value.

Warrant Dividend Program

In January 2026, LGL Group completed its warrant dividend program, generating approximately $5.0 million in gross proceeds. The warrants were distributed on November 16, 2020 and expired on December 31, 2025. The Company issued 1,051,664 shares of common stock, par value $0.01 (the "Common Stock"), representing 100% of the shares issuable.

Rights Offering

In July 2026, LGL Group completed a transferable subscription rights offering (the "Rights Offering") generating $41.5 million in net proceeds. The Rights Offering commenced on June 8, 2026 and expired at 5:00 p.m., Eastern time, on Wednesday, July 15, 2026. The Company issued 6,062,714 shares of Common Stock, representing approximately 92.6% of the 6,550,435 shares offered in the Rights Offering.

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. (NYSE American: LGL) is a publicly traded holding company that acquires, owns and builds businesses and makes strategic investments, with an emphasis on critical technologies. LGL Group conducts its business through two complementary activities: Platform Operations and Merchant Investment.

Through Platform Operations, LGL Group develops operating companies through organic growth, operational improvement and complementary acquisitions. Platform Operations is currently anchored by Precise Time and Frequency, LLC ("PTF"), a provider of precision time and frequency instruments, systems and related solutions based in Wakefield, Massachusetts.

Through Merchant Investment, LGL Group selectively deploys capital in minority investments, co-investments and strategic partnerships. These activities broaden LGL Group's opportunity set, develop strategic relationships and can support future platform development.

Across both activities, LGL Group seeks to compound shareholder value through disciplined capital allocation, active ownership, operational excellence and prudent financial management.

Incorporated in 1928, LGL Group has been publicly traded since 1946. Additional information is available at www.lglgroup.com.

Cautionary Note Concerning Forward-Looking Statements

This press release may contain 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 ("SEC"), including those risks set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 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, LGL Group claims 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.
(571) 543-1946
ir@lglgroup.com

The LGL Group, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)

			Three Months Ended  September 30,						Nine Months Ended  September 30,
(in thousands, except share and per share data)			2026			2025			2026			2025
Revenues:
Net sales		$	720		$	661		$	2,152		$	1,650
Net investment income			744			442			1,545			1,287
Net gains			-			5			5			13
Total revenues			1,464			1,108			3,702			2,950
Expenses:
Manufacturing cost of sales			491			312			1,206			760
Engineering, selling and administrative			948			676			3,703			2,060
Total expenses			1,439			988			4,909			2,820
Income (loss) before income taxes			25			120			(1,207	)		130
Income tax expense (benefit)			25			(674	)		(250	)		(632	)
Net income (loss)			-			794			(957	)		762
Less: Net income attributable to non-controlling interests			45			22			63			47
Net (loss) income attributable to LGL Group common stockholders		$	(45	)	$	772		$	(1,020	)	$	715
(Loss) income per common share attributable to LGL Group common stockholders:
Basic		$	(0.00	)	$	0.14		$	(0.13	)	$	0.13
Diluted		$	(0.00	)	$	0.14		$	(0.13	)	$	0.12
Weighted average shares outstanding:
Basic			10,960,348			5,371,308			7,958,795			5,415,721
Diluted			10,960,348			5,708,254			7,958,795			5,738,317

 

The LGL Group, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)

(in thousands)			September 30, 2026			December 31, 2025
Assets:
Current assets:
Cash and cash equivalents		$	86,930		$	41,514
Restricted cash and cash equivalents			20			-
Marketable securities			41			36
Accounts receivable, net of allowance			558			572
Inventories, net			992			297
Prepaid expenses and other current assets			200			255
Warrant proceeds receivable			-			3,650
Total current assets			88,741			46,324
Convertible promissory note, at fair value			2,464			-
Right-of-use lease assets			231			247
Intangible assets, net			10			15
Deferred income tax assets			458			190
Other assets			68			-
Total assets		$	91,972		$	46,776
Liabilities:
Total current liabilities			1,955			915
Non-current liabilities			290			296
Total liabilities			2,245			1,211
Stockholders' equity:
Total LGL Group stockholders' equity			85,932			43,488
Non-controlling interests			3,795			2,077
Total stockholders' equity			89,727			45,565
Total liabilities and stockholders' equity		$	91,972		$	46,776

 

The LGL Group, Inc.
Segment Financial Information
(Unaudited)

			Three Months Ended  September 30,
(in thousands)			2026			2025			$ Change			% Change
Revenues:
Electronic Instruments		$	720		$	661		$	59			8.9%
Merchant Investment			291			274			17			6.2%
Corporate			453			173			280			161.8%
Total revenues			1,464			1,108			356			32.1%
Expenses:
Electronic Instruments			784			557			227			40.8%
Merchant Investment			169			145			24			16.6%
Corporate			486			286			200			69.9%
Total expenses			1,439			988			451			45.6%
Income (loss) before income taxes:
Electronic Instruments			(64	)		104			(168	)		n/m
Merchant Investment			122			129			(7	)		(5.4%)
Corporate			(33	)		(113	)		80			70.8%
Income before income taxes			25			120			(95	)		(79.2%)
Income tax expense (benefit)			25			(674	)		699			n/m
Net income			-			794			(794	)		n/m
Less: Net income attributable to non-controlling interests			45			22			23			104.5%
Net (loss) income attributable to LGL Group common stockholders		$	(45	)	$	772		$	(817	)		n/m

 

The LGL Group, Inc.
Segment Financial Information
(Unaudited)

			Nine Months Ended September 30,
(in thousands)			2026			2025			$ Change			% Change
Revenues:
Electronic Instruments		$	2,152		$	1,650		$	502			30.4%
Merchant Investment			753			783			(30	)		(3.8%)
Corporate			797			517			280			54.2%
Total revenues			3,702			2,950			752			25.5%
Expenses:
Electronic Instruments			2,171			1,459			712			48.8%
Merchant Investment			496			353			143			40.5%
Corporate			2,242			1,008			1,234			122.4%
Total expenses			4,909			2,820			2,089			74.1%
Income (loss) before income taxes:
Electronic Instruments			(19	)		191			(210	)		n/m
Merchant Investment			257			430			(173	)		(40.2%)
Corporate			(1,445	)		(491	)		(954	)		(194.3%)
(Loss) income before income taxes			(1,207	)		130			(1,337	)		n/m
Income tax benefit			(250	)		(632	)		382			60.4%
Net (loss) income			(957	)		762			(1,719	)		n/m
Less: Net income attributable to non-controlling interests			63			47			16			34.0%
Net (loss) income attributable to LGL Group common stockholders		$	(1,020	)	$	715		$	(1,735	)		n/m

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/323827

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were LGL Group's third-quarter 2026 earnings results?

LGL Group reported $1.464 million in revenue and a $45,000 loss attributable to common stockholders for Q3 2026. Revenue increased 32.1% from Q3 2025, when common-stockholder income was $772,000. Diluted earnings moved from $0.14 to a loss reported as $0.00 per share.

Why did LGL Group's third-quarter 2026 earnings decline?

LGL Group attributed the earnings change primarily to a 2025 reversal of a previously recorded uncertain tax position that did not recur in 2026. Q3 2026 income tax expense was $25,000, compared with a $674,000 tax benefit in Q3 2025.

How much of LGL Group's 2026 rights offering was subscribed?

LGL Group issued 6,062,714 shares, representing approximately 92.6% of the 6,550,435 shares offered. Executive Chairman Marc Gabelli purchased 3,331,675 shares, increasing his total ownership to 4,387,727 shares.

What investment did LGL Group make in Skyline Instruments?

LGL Group invested $2.5 million in a convertible promissory note issued by Skyline Instruments Corporation. The note's fair value was $2.464 million at September 30, 2026.