LGL GROUP INC (LGL) Form 10-Q — Aug 14, 2026

$LGLForm 10-QFiled Aug 14, 2026, 5:23 PM ET0001437749-26-028064Original filing

The LGL Group reported Q2 2026 net sales of $750 thousand, up 52.7% year over year, but its net loss attributable to common stockholders widened to $353 thousand, or $0.06 per share, from $51 thousand a year earlier, as expenses grew faster than revenue. Six-month net sales rose 44.8% to $1.43 million while the six-month attributable loss reached $975 thousand, driven by an $822K jump in stock-based compensation and higher corporate costs. Order backlog surged 480.5% to $3.63 million from year-end 2025 and up 588.4% year over year on rising defense and aerospace demand for precision timing products.

Key figures

Eps: -$0.06 Q2; -$0.15 six months (basic and diluted, attributable to LGL common stockholders)
Revenue: $1.43M six-month net sales; $0.75M Q2 net sales (+52.7% YoY)
Net Income: -$975K six-month net loss attributable to LGL common stockholders (vs -$57K prior year); -$353K Q2 (vs -$51K)
Revenue Yoy: +44.8% six months; +52.7% Q2 (net sales)
Cash Position: $45.1M cash and equivalents plus $0.3M restricted cash at June 30, 2026
Gross Proceeds: $41.8M from completed rights offering (July 24, 2026); $5.0M gross from warrant over-subscription settlement (January 2026)
Offering Price: $6.90 per share (rights offering subscription price)
Shares Outstanding: 12613149
Order backlog: $3,628K at June 30, 2026, up 480.5% from $625K at Dec 31, 2025 and up 588.4% YoY
Q2 gross margin: 49.2%, down 780 bps from 57.0% on volume-based pricing to a single customer
Stock based comp 6m: $848K vs $26K prior year
Rights offering detail: 3,419,215 rights (52.1%) exercised plus 2,643,499 over-subscription shares; closed July 24, 2026
Skyline note fair value: $1,968K Level 3 convertible promissory note held via Skyline SPV
Net investment income 6m: $801K (vs $845K prior year, lower Treasury money market yields)
Customer concentration q2: Two customers represented 65.3% and 13.3% of Q2 net sales; two customers hold 79.0% of gross receivables
Lynch capital skyline stake: 42.5% of Skyline SPV at June 30, 2026; reduced to 33.9% after July 2026 second closing ($505K)

Price after filing

1 day: -1.7%7 days: +0.7%30 days: -10.2%

Close on the filing date to close N calendar days later (from $7.55). Historical, not a forecast.

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