Note 3 - Segment Information

9 Months Ended

Sep. 30, 2026

Notes to Financial Statements

Segment Reporting [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. The Company's Platform Operations business activity is currently conducted through the Electronic Instruments reportable segment. 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.

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 decides 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 and Merchant Investment 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. Certain overhead expenses incurred by the parent entity are allocated to the reportable segments based on each segment’s assets as a percentage of total assets. Overhead expenses that are not allocated remain in Corporate.

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

	Three Months Ended September 30, 2026
	Electronic Instruments			Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	720		$	—	$	—		$	720
Net investment income		—			291		453			744
Net gains		—			—		—			—
Total revenues		720			291		453			1,464
Less:
Manufacturing cost of sales		491			—		—			491
Engineering		91			—		—			91
Commissions		3			—		—			3
Sales and marketing		55			—		—			55
Accounting		—			—		65			65
Compensation		59			—		265			324
Corporate allocations (a)		12			168		(180	)		—
Other segment items (b)		73			1		336			410
Engineering, selling and administrative		293			169		486			948
Total expenses		784			169		486			1,439
Segment (loss) profit	$	(64	)	$	122	$	(33	)	$	25
Reconciliation of Segment profit (loss) to Income (loss) before income taxes
Adjustments and reconciling items										—
Income before income taxes									$	25

	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
Corporate 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) before income taxes
Adjustments and reconciling items									—
Income before income taxes								$	120

^(a) Represents overhead expenses incurred by the parent company that are allocated to the Electronic Instruments and Merchant Investment segments based on each segment’s assets as a percentage of Total assets.

(b)	Other segment items for each reportable segment and Corporate 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 M-tron Industries, Inc. under the Amended and Restated Transitional Administrative and Management Services Agreement, expense reimbursements paid to or received from M-tron Industries, Inc., and certain other overhead expenses.

	Nine Months Ended September 30, 2026
	Electronic Instruments			Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	2,152		$	—	$	—		$	2,152
Net investment income		—			753		792			1,545
Net gains		—			—		5			5
Total revenues		2,152			753		797			3,702
Less:
Manufacturing cost of sales		1,206			—		—			1,206
Engineering		258			—		—			258
Commissions		46			—		—			46
Sales and marketing		177			—		—			177
Accounting		—			—		234			234
Compensation		173			—		1,415			1,588
Corporate allocations (a)		40			461		(501	)		—
Other segment items (b)		271			35		1,094			1,400
Engineering, selling and administrative		965			496		2,242			3,703
Total expenses		2,171			496		2,242			4,909
Segment (loss) profit	$	(19	)	$	257	$	(1,445	)	$	(1,207	)
Reconciliation of Segment profit (loss) to Income (loss) before income taxes
Adjustments and reconciling items										—
Loss before income taxes									$	(1,207	)

	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
Corporate 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) before income taxes
Adjustments and reconciling items									—
Income before income taxes								$	130

^(a) Represents overhead expenses incurred by the parent company that are allocated to the Electronic Instruments and Merchant Investment segments based on each segment’s assets as a percentage of Total assets.

(b)	Other segment items for each reportable segment and Corporate 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 M-tron Industries, Inc. under the Amended and Restated Transitional Administrative and Management Services Agreement, expense reimbursements paid to or received from M-tron Industries, Inc., and certain other overhead expenses.

Other Segment Disclosures

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

	Three Months Ended September 30, 2026
	Electronic Instruments			Merchant Investment		Corporate			Total			Adjustments and Reconciling Items		Consolidated
Interest revenue (a)	$	—		$	291	$	453		$	744		$	—	$	744
Amortization (b)		(4	)		—		—			(4	)		—		(4	)
Other significant non-cash items:
Stock-based compensation (c)		—			—		(111	)		(111	)		—		(111	)
Capital expenditures		—			—		(7	)		(7	)		—		(7	)

	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)		(5	)		—		—			(5	)		—		(5	)
Other significant non-cash items:
Stock-based compensation (c)		—			—		(18	)		(18	)		—		(18	)
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.

	Nine Months Ended September 30, 2026
	Electronic Instruments			Merchant Investment		Corporate			Total			Adjustments and Reconciling Items		Consolidated
Interest revenue (a)	$	—		$	753	$	792		$	1,545		$	—	$	1,545
Amortization (b)		(15	)		—		—			(15	)		—		(15	)
Other significant non-cash items:
Stock-based compensation (c)		—			—		(959	)		(959	)		—		(959	)
Capital expenditures		—			—		(7	)		(7	)		—		(7	)

	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		—			—		—			—			—		—

^(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, 2026 and  December 31, 2025:

	September 30, 2026
	Electronic Instruments		Merchant Investment		Corporate		Total		Adjustments and Reconciling Items		Consolidated
Total assets	$	1,976	$	28,991	$	61,005	$	91,972	$	—	$	91,972

	December 31, 2025
	Electronic Instruments		Merchant Investment		Corporate		Total		Adjustments and Reconciling Items		Consolidated
Total assets	$	1,237	$	25,768	$	19,771	$	46,776	$	—	$	46,776