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 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%) 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 ...