Note 3 - Segment Information

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

3. Segment Information

Chief Operating Decision Maker

The Company's chief operating decision maker ("CODM") is the Chief Executive Officer.

Reportable Segments

The Company reports its results from operations consistent with the manner in which the CODM reviews the business to assess performance and allocate resources. As such, the Company reports its results in two reportable business segments: Electronic Instruments and Merchant Investment. A brief description of each segment is below:

The Electronic Instruments segment includes all products manufactured and sold by PTF.

The Merchant Investment segment includes all activity produced by Lynch Capital International, LLC ("Lynch Capital").

The Company includes in Corporate the following corporate and business activities:

• corporate level assets and financial obligations such as cash and cash equivalents invested in highly liquid U.S. Treasury money market funds and other marketable securities;

• other items not allocated to or directly related to the Company's operating segments, including items such as deferred tax balances; and

• intercompany eliminations.

Measure of Segment Profit or Loss and Segment Assets

The accounting policies used in both the Electronic Instruments and Merchant Investment segments are the same as those described in Note 2 – Summary of Significant Accounting Policies.

The CODM assesses the performance of and decide how to allocate resources to each reporting segment based on Segment profit (loss), which is total revenues less Manufacturing cost of sales and Engineering, selling, and administrative. The CODM uses Segment profit (loss) to evaluate the overall profitability of the Electronic Instruments, Merchant Investment, and Corporate segments. Additionally, the CODM uses Segment profit (loss) to allocate resources in the annual budgeting and forecasting process. The CODM considers budget-to-actual variances when making decisions about allocating capital to each segment.

The measure of segment assets is reported on the Condensed Consolidated Balance Sheets as consolidated Total assets. The CODM uses Total assets of each segment to allocate overhead expenses incurred by the Corporate segment.

The following tables presents LGL Group's operations by segment:

	Three Months Ended September 30, 2025
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	661	$	—	$	—		$	661
Net investment income		—		274		168			442
Net gains		—		—		5			5
Total revenues		661		274		173			1,108
Less:
Manufacturing cost of sales		312		—		—			312
Engineering		74		—		—			74
Commissions		12		—		—			12
Sales and marketing		47		—		—			47
Accounting		—		—		49			49
Compensation		58		—		74			132
Corporation allocations (a)		13		145		(158	)		—
Other segment items (b)		41		—		321			362
Engineering, selling and administrative		245		145		286			676
Total expenses		557		145		286			988
Segment profit (loss)	$	104	$	129	$	(113	)	$	120
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items									—
Income from operations before income taxes								$	120

	Three Months Ended September 30, 2024
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	650	$	—	$	—		$	650
Net investment income		—		318		213			531
Net losses		—		—		(2	)		(2	)
Total revenues		650		318		211			1,179
Less:
Manufacturing cost of sales		368		—		—			368
Engineering		54		—		—			54
Commissions		20		—		—			20
Sales and marketing		52		—		—			52
Accounting		—		—		39			39
Compensation		69		—		309			378
Corporation allocations (a)		10		78		(88	)		—
Other segment items (b)		33		12		85			130
Engineering, selling and administrative		238		90		345			673
Total expenses		606		90		345			1,041
Segment profit (loss)	$	44	$	228	$	(134	)	$	138
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items									—
Income from operations before income taxes								$	138

^(a) The Electronic Instruments and Merchant Investment segments are allocated overhead expenses from the Corporate segment based on each segment's asset as a percentage of Total assets.

(b)	Other segment items for each reportable segment includes the following:
		Electronic Instruments - rent, amortization, professional service fees, and certain other overhead expenses.
		Merchant Investment - legal expense and certain other overhead expenses.
		Corporate - legal expense, insurance expense, filing fees, fees paid to MtronPTI under Amended and Restated Transitional Administrative and Management Services agreement, and certain other overhead expenses.

	Nine Months Ended September 30, 2025
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	1,650	$	—	$	—		$	1,650
Net investment income		—		783		504			1,287
Net gains		—		—		13			13
Total revenues		1,650		783		517			2,950
Less:
Manufacturing cost of sales		760		—		—			760
Engineering		188		—		—			188
Commissions		52		—		—			52
Sales and marketing		139		—		—			139
Accounting		—		—		174			174
Compensation		166		—		423			589
Corporation allocations (a)		35		331		(366	)		—
Other segment items (b)		119		22		777			918
Engineering, selling and administrative		699		353		1,008			2,060
Total expenses		1,459		353		1,008			2,820
Segment profit (loss)	$	191	$	430	$	(491	)	$	130
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items									—
Income from operations before income taxes								$	130

	Nine Months Ended September 30, 2024
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	1,573	$	—	$	—		$	1,573
Net investment income		—		922		646			1,568
Net losses		—		—		(6	)		(6	)
Total revenues		1,573		922		640			3,135
Less:
Manufacturing cost of sales		786		—		—			786
Engineering		141		—		—			141
Commissions		75		—		—			75
Sales and marketing		132		—		—			132
Accounting		—		—		227			227
Compensation		189		—		585			774
Corporation allocations (a)		29		204		(233	)		—
Other segment items (b)		101		13		432			546
Engineering, selling and administrative		667		217		1,011			1,895
Total expenses		1,453		217		1,011			2,681
Segment profit (loss)	$	120	$	705	$	(371	)	$	454
Reconciliation of Segment profit (loss) to Income (loss) from operations before income taxes
Adjustments and reconciling items									—
Income from operations before income taxes								$	454

^(a) The Electronic Instruments and Merchant Investment segments are allocated overhead expenses from the Corporate segment based on each segment's asset as a percentage of Total assets.

(b)	Other segment items for each reportable segment includes the following:
		Electronic Instruments - rent, amortization, professional service fees, and certain other overhead expenses.
		Merchant Investment - legal expense and certain other overhead expenses.
		Corporate - legal expense, insurance expense, filing fees, fees paid to MtronPTI under Amended and Restated Transitional Administrative and Management Services agreement, and certain other overhead expenses.

Other Segment Disclosures

The following tables presents other segment information by segment for the periods indicated:

	Three Months Ended September 30, 2025
	Electronic Instruments			Merchant Investment		Corporate			Total			Adjustments and Reconciling Items		Consolidated
Interest revenue (a)	$	—		$	274	$	168		$	442		$	—	$	442
Amortization (b)		(27	)		—		—			(27	)		—		(27	)
Other significant non-cash items:
Stock-based compensation (c)		—			—		(18	)		(18	)		—		(18	)
Capital expenditures		—			—		—			—			—		—

	Three Months Ended September 30, 2024
	Electronic Instruments			Merchant Investment		Corporate			Total			Adjustments and Reconciling Items		Consolidated
Interest revenue (a)	$	—		$	318	$	213		$	531		$	—	$	531
Amortization (b)		(11	)		—		—			(11	)		—		(11	)
Other significant non-cash items:
Stock-based compensation (c)		—			—		(9	)		(9	)		—		(9	)
Capital expenditures		—			—		—			—			—		—

	Nine Months Ended September 30, 2025
	Electronic Instruments			Merchant Investment		Corporate			Total			Adjustments and Reconciling Items		Consolidated
Interest revenue (a)	$	—		$	783	$	504		$	1,287		$	—	$	1,287
Amortization (b)		(16	)		—		—			(16	)		—		(16	)
Other significant non-cash items:
Stock-based compensation (c)		—			—		(44	)		(44	)		—		(44	)
Capital expenditures		—			—		—			—			—		—

	Nine Months Ended September 30, 2024
	Electronic Instruments		Merchant Investment		Corporate			Total			Adjustments and Reconciling Items		Consolidated
Interest revenue (a)	$	—	$	922	$	646		$	1,568		$	—	$	1,568
Amortization (b)		—		—		—			—			—		—
Other significant non-cash items:
Stock-based compensation (c)		—		—		(27	)		(27	)		—		(27	)
Capital expenditures		—		—		—			—			—		—

^(a) Interest revenue is included in Net investment income on the Condensed Consolidated Statements of Operations.

_(b) Amortization is included within the other segment expense captions such as Manufacturing cost of sales, Engineering or Other segment items.

^(c) Stock-based compensation is included within the Compensation expense caption.

The following tables present LGL Group's identifiable assets by segment as of  September 30, 2025 and  December 31, 2024:

	September 30, 2025
	Electronic Instruments		Merchant Investment		Corporate		Total		Adjustments and Reconciling Items		Consolidated
Total assets	$	1,223	$	25,508	$	16,553	$	43,284	$	—	$	43,284

	December 31, 2024
	Electronic Instruments		Merchant Investment		Corporate		Total		Adjustments and Reconciling Items		Consolidated
Total assets	$	1,249	$	24,748	$	17,148	$	43,145	$	—	$	43,145