STOCK TITAN

LGL Group (NYSE: LGL) grows revenue, raises $41.8M while losses widen

(Moderate)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

The LGL Group, Inc. reported higher revenue but wider losses for the three and six months ended June 30, 2026. Second-quarter revenues were $1,153,000, up 24.8% from $924,000, driven mainly by a $259,000 increase in Net sales in the Electronic Instruments segment as backlog shipments converted to revenue. However, gross margin fell to 49.2% from 57.0% due to product and pricing mix, including volume-based pricing for a single customer.

Net loss attributable to common stockholders increased to $353,000, or $0.06 per diluted share, from $51,000, or $0.01, mainly from higher Engineering, selling, and administrative expenses, including higher stock-based compensation and professional fees. For the first half of 2026, revenues rose 21.5% to $2,238,000, but net loss widened to $975,000. Cash and cash equivalents and marketable securities were $45.2 million as of June 30, 2026.

LGL’s order backlog was $3,628,000 as of June 30, 2026, up sharply from $625,000 at December 31, 2025, and includes part of a series of August 2026 orders totaling $6.0 million. A January 2026 warrant dividend program generated about $5.0 million, and a July 2026 transferable rights offering generated roughly $41.8 million, bringing cash and marketable securities to over $86.0 million and increasing shares outstanding to approximately 12.6 million.

Positive

  • Revenue grew strongly: Q2 2026 revenues were $1,153,000, up 24.8% year over year; first-half 2026 revenues rose 21.5% to $2,238,000, reflecting higher Net sales in Electronic Instruments.
  • Backlog expanded significantly: order backlog reached $3,628,000 as of June 30, 2026, up from $625,000 at December 31, 2025, supported by a series of $6.0 million in customer orders.
  • Liquidity materially strengthened: cash and cash equivalents and marketable securities were $45.2 million at June 30, 2026, and a July 2026 transferable rights offering generated roughly $41.8 million, increasing cash and marketable securities to over $86.0 million.
  • Capital raised through warrant program: a January 2026 warrant dividend program generated approximately $5.0 million in gross proceeds, adding to the Company’s financial flexibility.

Negative

  • Losses widened sharply: Q2 2026 net loss attributable to common stockholders was $353,000 versus $51,000 a year ago; first-half 2026 net loss was $975,000 versus $57,000.
  • Gross margin deteriorated: Q2 2026 gross margin declined to 49.2% from 57.0%, and first-half 2026 gross margin fell to 50.1% from 54.7%, due to less favorable product and pricing mix.
  • Operating expenses increased heavily: Engineering, selling, and administrative expenses rose, including $822,000 higher stock-based compensation and a $300,000 increase in professional service fees for the first half of 2026.
  • Dilution from new share issuances: the warrant dividend program issued 1,051,664 shares, and the July 2026 rights offering issued 6,062,714 shares, bringing total common shares outstanding to about 12.6 million.
  • Book value per share declined: book value attributable to LGL Group common stockholders per share decreased to $6.77 as of June 30, 2026 from $7.04 at December 31, 2025.

Filing Explained

The completed offering expanded the share base, while June 30 book value per share was $6.77 versus $7.04 at year-end.

The LGL Group’s August 14 8-K confirms that its transferable rights offering, which expired on July 15, 2026, was completed: the company issued 6,062,714 common shares, or approximately 92.6% of the 6,550,435 shares offered, leaving approximately 12.6 million shares outstanding.

Because the shares were issued, the structural effect for existing common holders is dilution: additional shares increase the total share count and reduce an existing holder’s percentage ownership absent offsetting changes.

As of June 30, 2026, book value attributable to common stockholders was $6.77 per share, down from $7.04 at December 31, 2025; the company attributes the decrease partly to the higher share count from the warrant program and employee restricted-stock grants.

Marc Gabelli purchased 3,331,675 shares in the offering, increasing his total reported ownership to 4,387,727 shares.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Revenue $1,153,000 Three months ended June 30, 2026; up 24.8% from $924,000 in 2025
Q2 2026 Net Loss Attributable to Common $353,000 Three months ended June 30, 2026; versus $51,000 in Q2 2025
Six Months 2026 Revenue $2,238,000 Six months ended June 30, 2026; up 21.5% from $1,842,000 in 2025
Order Backlog $3,628,000 As of June 30, 2026; up from $625,000 at December 31, 2025
Cash and Marketable Securities $45.2 million Investments classified within Cash and cash equivalents and Marketable securities as of June 30, 2026
Rights Offering Proceeds $41.8 million Transferable subscription rights offering completed July 2026
Shares Issued in Rights Offering 6,062,714 shares Common stock issued, representing approximately 92.6% of 6,550,435 shares offered
Book Value Per Share $6.77 Book value attributable to LGL Group common stockholders per share as of June 30, 2026
backlog financial
"As of June 30, 2026, our order backlog was $3,628,000, an increase"
A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.
warrant dividend program financial
"In January 2026, LGL Group completed its warrant dividend program, generating"
transferable subscription rights offering financial
"In July 2026, LGL Group completed a transferable subscription rights offering"
An offering where a company gives its existing shareholders tradable rights to buy newly issued shares at a set price for a limited time; those rights can be sold, transferred, or exercised by the holder. Think of each right like a short-term coupon or ticket that lets a shareholder maintain their ownership proportion or convert the coupon into cash by selling it. This matters to investors because it changes the potential number of shares outstanding, creates a marketable asset separate from the stock, and can affect share price, ownership percentages, and liquidity.
Merchant Investment financial
"Merchant Investment business. 2 Warrant Dividend Program In January 2026"
book value attributable to LGL Group common stockholders financial
"Book value attributable to LGL Group common stockholders was $6.77 as of"
Q2 2026 Revenues $1,153,000 vs $924,000 in Q2 2025 24.8%
Q2 2026 Net Loss Attributable to Common $353,000 vs $51,000 in Q2 2025 592.2%
Q2 2026 Gross Margin 49.2% vs 57.0% in Q2 2025 (13.7%)
Six Months 2026 Revenues $2,238,000 vs $1,842,000 in 2025 21.5%
Six Months 2026 Net Loss Attributable to Common $975,000 vs $57,000 in 2025 1,610.5%

FAQ

How did LGL (LGL) perform financially in Q2 2026?

LGL reported Q2 2026 revenues of $1,153,000, up 24.8% from $924,000 in Q2 2025. However, net loss attributable to common stockholders increased to $353,000, or $0.06 per diluted share, compared with $51,000, or $0.01 per share.

What were LGL (LGL) results for the first half of 2026?

For the six months ended June 30, 2026, LGL generated revenues of $2,238,000, up 21.5% from $1,842,000 in 2025. Net loss attributable to common stockholders widened to $975,000, or $0.15 per diluted share, compared with $57,000, or $0.01 per share.

How strong is LGL (LGL) liquidity as of mid-2026?

As of June 30, 2026, LGL held $45.2 million in cash and cash equivalents and marketable securities. A July 2026 transferable rights offering added roughly $41.8 million, increasing cash and marketable securities to over $86.0 million, supporting future operations and investments.

What is LGL (LGL) order backlog and demand outlook?

LGL’s order backlog was $3,628,000 as of June 30, 2026, up from $625,000 at December 31, 2025. The Company also announced August 2026 orders totaling $6.0 million, with $3.4 million included in backlog, mostly expected to ship within 90 days.

What capital-raising actions did LGL (LGL) complete in 2026?

LGL completed a warrant dividend program in January 2026, generating approximately $5.0 million, and a transferable subscription rights offering in July 2026, generating roughly $41.8 million. The rights offering issued 6,062,714 shares of common stock.

How have margins and expenses trended for LGL (LGL)?

Q2 2026 gross margin declined to 49.2% from 57.0%, impacted by product and pricing mix. Engineering, selling, and administrative expenses increased, including $822,000 higher stock-based compensation and a $300,000 rise in professional service fees for the first half of 2026.

How many LGL (LGL) shares are outstanding after recent offerings?

Following the July 2026 rights offering, LGL states it has approximately 12.6 million shares of common stock outstanding. The rights offering issued 6,062,714 shares, and the January 2026 warrant dividend program issued 1,051,664 shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates
false 0000061004 0000061004 2026-08-14 2026-08-14
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): August 14, 2026
 
logo.jpg
 
THE LGL GROUP, INC.
(Exact Name of Registrant as Specified in Charter)
     
Delaware
001-00106
38-1799862
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
     
2525 Shader Road, Orlando, FL
32804
(Address of Principal Executive Offices)
(Zip Code)
 
(202) 780-5941
(Registrant’s Telephone Number, Including Area Code)
 
(Former Name or Former Address, If Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Common Stock, par value $0.01
 
LGL
 
NYSE American
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 

 
Item 2.02.
Results of Operations and Financial Condition
 
On August 14, 2026, The LGL Group, Inc. ("LGL Group" or the "Company") issued a press release announcing its financial results for the second quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
 
The information in this Current Report on Form 8-K, including the exhibits hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any future filings by the Company under the Securities Act of 1933, as amended, or under the Exchange Act, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.
 
Item 9.01.
Financial Statements and Exhibits
 
 
(d)
Exhibits
 
Exhibit No.
Description
   
99.1
Press Release of The LGL Group, Inc. dated August 14, 2026.
   
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
 
 
 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
THE LGL GROUP, INC.
  (Registrant)
   
Date:   August 14, 2026
By:
/s/ Patrick Huvane
   
Name:
Patrick Huvane
   
Title:
Executive Vice President - Business Development
 
 
 
 
 

Exhibit 99.1

logo.jpg

 

THE LGL GROUP, INC. REPORTS SECOND QUARTER 2026 RESULTS

 

Revenues increased $229,000 to $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 to $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, FL. – 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       24.8 %   $ 2,238     $ 1,842       21.5 %

Gross margin

    49.2 %     57.0 %     (13.7 %)     50.1 %     54.7 %     (8.5 %)

Net loss

  $ (353 )   $ (51 )     592.2 %   $ (975 )   $ (57 )     1,610.5 %

Net loss per diluted share

  $ (0.06 )   $ (0.01 )     478.0 %   $ (0.15 )   $ (0.01 )     1,335.3 %

 

(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       2.0 %

Book value attributable to LGL Group common stockholders per share

  $ 6.77     $ 7.04       (3.9 %)

 

 

1

 

Consolidated Results

 

Second Quarter 2026 

Total revenues were $1,153,000 for the three months ended June 30, 2026 compared to $924,000 for the three months ended June 30, 2025. The increase was primarily due to the $259,000 increase in Net sales within our Electronic Instruments segment due to higher product shipments as orders in backlog as of March 31, 2026 converted to revenue partially offset by the $16,000 decrease in Net investment income driven by lower yields on investments in United States Treasury money market funds and the $14,000 decrease in Net gains (losses) driven by lower mark-to-market movements on Marketable securities.

 

Gross margin was 49.2% for the three months ended June 30, 2026 compared to 57.0% for the three months ended June 30, 2025. The decrease was 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 partially offset by the increase in Net sales discussed above.

 

Net loss attributable to LGL Group common stockholders was ($353,000), or ($0.06) per diluted share, compared with ($51,000), or ($0.01) per diluted share, in the second quarter of 2025. The decrease was primarily due to higher Engineering, selling, and administrative expenses driven by a $143,000 increase in stock-based compensation, a $100,000 increase in professional service fees, a $37,000 increase in salaries and wages and related benefits, and a $78,000 increase in other corporate expenses partially offset by higher Net sales discussed above.

 

Fiscal Year to Date 2026

Total revenues were $2,238,000 for the six months ended June 30, 2026 compared to $1,842,000 for the six months ended June 30, 2025. The increase was primarily due to the $443,000 increase in Net sales within our Electronic Instruments segment due to higher product shipments as orders in backlog converted to revenue partially offset by the $44,000 decrease in Net investment income driven by lower yields on investments in United States Treasury money market funds.

 

Gross margin was 50.1% for the six months ended June 30, 2026 compared to 54.7% for the six months ended June 30, 2025. The decrease was primarily due to changes in product and pricing mix associated volume-based pricing extended to a single customer in connection with increased order volume partially offset by the increase in Net sales discussed above.

 

Net loss attributable to LGL group common stockholders was ($975,000), or ($0.15) per diluted share, compared with ($57,000), or ($0.01) per diluted share, in 2025. The increase was primarily due to higher Engineering, selling, and administrative expenses driven by $822,000 higher stock-based compensation related to grants made to key employees in January and May 2026, a $300,000 increase in professional service fees, a $85,000 increase in salaries and wages and related benefits, and a $100,000 increase in other corporate expenses partially offset by higher Net sales due to higher product shipments as orders in backlog converted to revenue.

 

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. The increase was primarily due to $4.6 million of net proceeds from the warrant dividend program completed in January 2026 and $1.2 million in capital contributions from non-controlling interests into Skyline Instruments May 2026, a Series of CGF2021 LLC partially offset by the $2.0 million investment in the convertible promissory note issued by Skyline Instruments Corporation.

 

Book value attributable to LGL Group common stockholders was $6.77 as of June 30, 2026 compared to $7.04 as of December 31, 2025. The decrease was primarily due to the net loss attributable to LGL Group common stockholders discussed above, the increase in shares outstanding resulting from restricted stock grants to key employees in January and May 2026 for which a portion vested immediately, and the increase in shares outstanding related to the warrant program completed in January 2026, pursuant to which shares were issued at an exercise price of $4.75 per share.

 

Backlog

 

As of June 30, 2026, our order backlog was $3,628,000, an increase of $3,003,000 from $625,000 as of December 31, 2025 and an increase of $3,101,000 from $527,000 as of June 30, 2025. The backlog of unfilled orders includes amounts based on signed contracts, which we have determined are firm orders likely to be fulfilled primarily in the next 12 months but most of the backlog will ship in the next 90 days. Additionally, we announced a series of orders totaling $6.0 million from a customer in August 2026, of which $3.4 million was included in our backlog as of June 30, 2026.

 

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 $45.2 million, of which $26.2 million was held within the Merchant Investment business.

 

 

2

 

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 roughly $41.8 million, increasing cash and cash equivalents and marketable securities to over $86.0 million. 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. After giving effect to the shares sold in the Rights Offering, the Company currently has approximately 12.6 million shares of Common Stock outstanding.

 

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

 

 

3

 

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  

 

 

4

 

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  

 

 

5

 

The LGL Group, Inc.

Segment Results

(Unaudited)

 

   

Three Months Ended June 30,

               

(in thousands)

 

2026

 

2025

 

$ Change

 

% Change

Revenues:

                               

Electronic Instruments

  $ 750     $ 491     $ 259       52.7 %

Merchant Investment

    239       262       (23 )     (8.8 %)

Corporate

    164       171       (7 )     (4.1 %)

Total revenues

    1,153       924       229       24.8 %
                                 

Expenses:

                               

Electronic Instruments

    722       423       299       70.7 %

Merchant Investment

    202       114       88       77.2 %

Corporate

    676       418       258       61.7 %

Total expenses

    1,600       955       645       67.5 %
                                 

Income (loss) before income taxes

                               

Electronic Instruments

    28       68       (40 )     (58.8 %)

Merchant Investment

    37       148       (111 )     (75.0 %)

Corporate

    (512 )     (247 )     (265 )     107.3 %

Loss before income taxes

    (447 )     (31 )     (416 )     1,341.9 %

Income tax (benefit) expense

    (95 )     14       (109 )     (778.6 %)

Net loss

    (352 )     (45 )     (307 )     682.2 %

Less: Net income attributable to non-controlling interests

    1       6       (5 )     (83.3 %)

Net loss attributable to LGL Group common stockholders

  $ (353 )   $ (51 )   $ (302 )     592.2 %

 

 

6

 

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       44.8 %

Merchant Investment

    462       509       (47 )     (9.2 %)

Corporate

    344       344             0.0 %

Total revenues

    2,238       1,842       396       21.5 %
                                 

Expenses:

                               

Electronic Instruments

    1,387       902       485       53.8 %

Merchant Investment

    327       208       119       57.2 %

Corporate

    1,756       722       1,034       143.2 %

Total expenses

    3,470       1,832       1,638       89.4 %
                                 

Income (loss) before income taxes

                               

Electronic Instruments

    45       87       (42 )     (48.3 %)

Merchant Investment

    135       301       (166 )     (55.1 %)

Corporate

    (1,412 )     (378 )     (1,034 )     273.5 %

(Loss) income before income taxes

    (1,232 )     10       (1,242 )     (12,420.0 %)

Income tax (benefit) expense

    (275 )     42       (317 )     (754.8 %)

Net loss

    (957 )     (32 )     (925 )     2,890.6 %

Less: Net income attributable to non-controlling interests

    18       25       (7 )     (28.0 %)

Net loss attributable to LGL Group common stockholders

  $ (975 )   $ (57 )   $ (918 )     1,610.5 %

 

 

7

Filing Exhibits & Attachments

5 documents