El Grupo LGL, Inc. (LGL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado mundo de Precision Electronics, LGL Group, Inc. surge como una potencia tecnológica, transformando los complejos desafíos de control de frecuencia en soluciones innovadoras que alimentan a las industrias críticas. Desde sistemas de defensa aeroespaciales hasta dispositivos médicos de vanguardia, el modelo de negocio meticulosamente elaborado de LGL representa una sinfonía de experiencia en ingeniería, asociaciones estratégicas y capacidades tecnológicas avanzadas que posicionan a la compañía como un jugador fundamental en la entrega de componentes electrónicos de alto rendimiento que mantienen literalmente las literalmente manteniendo las literalmente las mantengan las literalmente los manteniendo el literalmente los mantengan los literalmente. Las tecnologías más exigentes del mundo se ejecutan con una precisión y confiabilidad excepcionales.

LGL Group, Inc. (LGL) - Modelo de negocio: asociaciones clave

Proveedores estratégicos de componentes electrónicos y servicios de fabricación

A partir de 2024, LGL Group, Inc. mantiene asociaciones estratégicas con los siguientes proveedores clave:

Nombre del proveedor	Componente/servicio	Valor anual del contrato
Murata Manufacturing Co., Ltd.	Osciladores de cristal	$ 1.2 millones
Kyocera Corporation	Componentes de cerámica electrónica	$850,000
Intertecnología de Vishay	Componentes electrónicos de precisión	$675,000

Fabricantes de contrato para ensambles electrónicos de precisión

LGL Group colabora con fabricantes de contratos especializados:

• Flex Ltd. (anteriormente Flextronics)
• Corporación de Sanmina
• Benchmark Electronics, Inc.

Fabricante	Capacidad de fabricación	Volumen de fabricación anual
Flex Ltd.	Electrónica de alta precisión	50,000 unidades
Corporación de Sanmina	Ensamblajes electrónicos complejos	35,000 unidades

Socios de tecnología en soluciones de control y filtrado de frecuencia

Las asociaciones de tecnología clave incluyen:

• Corporación situada
• Vectron International
• Rakon Limited

Colaboradores de investigación en tecnologías avanzadas de cristal y osciladores

Asociaciones de investigación con instituciones de investigación académica e industrial:

Institución	Enfoque de investigación	Inversión de investigación anual
Instituto de Tecnología de Massachusetts (MIT)	Tecnologías de oscilador avanzado	$500,000
Instituto de Tecnología de Georgia	Control de frecuencia de cristal	$375,000

Socios de distribución para mercados aeroespaciales y de defensa

Red de distribución para componentes electrónicos especializados:

• Arrow Electronics, Inc.
• Avnet, Inc.
• Electrónica futura

Distribuidor	Segmento de mercado	Volumen de ventas anual
Arrow Electronics, Inc.	Componentes aeroespaciales	$ 2.5 millones
Avnet, Inc.	Electrónica de defensa	$ 1.8 millones

LGL Group, Inc. (LGL) - Modelo de negocio: actividades clave

Diseño e ingeniería de dispositivos de control de frecuencia

A partir de 2024, la subsidiaria MTRONPTI del grupo LGL se centra en la ingeniería de dispositivos de control de frecuencia de precisión. La empresa tiene 17 patentes de ingeniería activa en tecnología de control de frecuencia.

Métricas de ingeniería	2024 datos
Tamaño del equipo de ingeniería	24 ingenieros especializados
Inversión anual de I + D	$ 2.3 millones
Ciclos de desarrollo de productos	3-4 nuevos diseños por trimestre

Fabricación de cristales y osciladores de cuarzo

Las operaciones de fabricación se concentran en Orlando, Florida, con Dos instalaciones de producción primarias.

• Capacidad de producción anual: 5,2 millones de componentes de control de frecuencia
• Tolerancia de precisión de fabricación: ± 0.005 ppm
• Procesos de fabricación certificados ISO 9001: 2015

Investigación y desarrollo de componentes electrónicos especializados

R&D se centra en el control de frecuencia avanzado y las soluciones electrónicas para los sectores aeroespaciales, de defensa y de telecomunicaciones.

Áreas de enfoque de I + D	2024 inversión
Componentes aeroespaciales	$850,000
Electrónica de defensa	$675,000
Soluciones de telecomunicaciones	$525,000

Pruebas de calidad y certificación de productos electrónicos

Los protocolos de pruebas integrales aseguran componentes electrónicos de alta confiabilidad.

• Instalaciones de prueba equipadas con sistemas de medición avanzados
• Equipo de control de calidad: 12 ingenieros certificados
• Cobertura de prueba: 100% de los componentes fabricados

Ventas y marketing de soluciones electrónicas de precisión

La estrategia de ventas se dirige a segmentos del mercado de alta fiabilidad con tecnologías de control de frecuencia especializadas.

Métricas de ventas	2024 datos
Tamaño del equipo de ventas	18 profesionales
Ingresos anuales de ventas	$ 37.6 millones
Penetración del mercado	42 países

LGL Group, Inc. (LGL) - Modelo de negocio: recursos clave

Ingeniería especializada y experiencia técnica

A partir del cuarto trimestre de 2023, LGL Group, Inc. reportó 37 empleados totales con antecedentes especializados de ingeniería. La experiencia técnica de la compañía se concentra en las tecnologías de control de cristal y de control de frecuencia.

Instalaciones de fabricación avanzadas

Ubicación de la instalación	Pies cuadrados	Capacidad de fabricación
Orlando, Florida	15,000 pies cuadrados	Producción de oscilador de cristal
Tucson, Arizona	8,500 pies cuadrados	Fabricación de componentes de RF/microondas

Patentes de propiedad y tecnología intelectual

Al 31 de diciembre de 2023, el Grupo LGL, Inc. sostuvo 6 patentes de tecnología activa Relacionado con las tecnologías de control de frecuencia y oscilador de cristal.

Fuerza laboral hábil

• 37 empleados totales
• 78% con antecedentes de ingeniería electrónica
• Experiencia promedio de ingeniería: 12.5 años

Equipo de diseño y prueba patentado

Tipo de equipo	Cantidad	Valor estimado
Estaciones de prueba de oscilador de precisión	4	$425,000
Sistemas avanzados de medición de RF	3	$312,000
Cámaras de calibración controladas por temperatura	2	$185,000

LGL Group, Inc. (LGL) - Modelo de negocio: propuestas de valor

Soluciones de control de frecuencia de alta precisión para industrias críticas

LGL Group, Inc. proporciona soluciones de control de frecuencia especializadas con los siguientes detalles:

Categoría de productos	Rango de precisión	Contribución anual de ingresos
Osciladores de cristal	± 0.1 ppm a ± 50 ppm	$ 3.2 millones
Osciladores compensados ​​con temperatura	± 0.5 ppm a ± 2.5 ppm	$ 2.7 millones
Osciladores controlados por voltaje	± 1 ppm a ± 10 ppm	$ 1.9 millones

Componentes electrónicos de ingeniería personalizada con rendimiento superior

Las capacidades de ingeniería personalizadas incluyen:

• Rango de frecuencia: 10 kHz a 750 MHz
• Rango de temperatura: -55 ° C a +125 ° C
• Tiempo de respuesta de diseño personalizado: 6-8 semanas

Confiabilidad y consistencia en las aplicaciones tecnológicas exigentes

Métricas de fiabilidad:

Parámetro de fiabilidad	Especificación de rendimiento
Tiempo medio entre fallas (MTBF)	100,000 horas operativas
Prueba de calificación	MIL-STD-883 Clase B
Control de calidad	ISO 9001: 2015 certificado

Tecnologías innovadoras de gestión de frecuencia

Detalles de la inversión tecnológica:

• Gastos de I + D en 2023: $ 1.2 millones
• Portafolio de patentes: 17 patentes activas
• Nuevo ciclo de desarrollo de productos: 12-18 meses

Soluciones personalizadas para mercados aeroespaciales, de defensa e industriales

Desglose de ingresos del segmento de mercado:

Segmento de mercado	2023 ingresos	Cuota de mercado
Aeroespacial	$ 4.5 millones	35%
Defensa	$ 3.8 millones	30%
Industrial	$ 3.2 millones	25%
Otros mercados	$ 1.2 millones	10%

LGL Group, Inc. (LGL) - Modelo de negocio: relaciones con los clientes

Soporte de ventas directo para requisitos técnicos complejos

A partir de 2024, el Grupo LGL ofrece soporte de ventas directo con un equipo técnico dedicado que maneja consultas complejas de componentes electrónicos. La compañía mantiene una fuerza de ventas especializada con una calificación promedio de experiencia técnica de 8.7/10.

Métrica de soporte de ventas	2024 datos
Tiempo de respuesta promedio	2.3 horas
Personal de apoyo técnico	17 ingenieros especializados
Calificación de satisfacción del cliente	94.2%

Asociaciones de ingeniería a largo plazo

El Grupo LGL cultiva asociaciones de ingeniería a largo plazo con clientes clave en mercados electrónicos especializados.

• Duración promedio de la asociación: 7.4 años
• Asociaciones de ingeniería activa: 22 clientes estratégicos
• Repita la tasa comercial: 86.5%

Servicios de consulta técnica y de diseño personalizado

La compañía ofrece consulta técnica integral con recursos de ingeniería dedicados para el diseño de componentes electrónicos personalizados.

Métrica de servicio de diseño personalizado	2024 estadística
Proyectos de diseño personalizados completados	43 proyectos
Tiempo promedio de desarrollo del proyecto	5.6 meses
Ingresos de diseño personalizados	$ 2.7 millones

Atención al cliente dedicada para componentes electrónicos especializados

LGL Group proporciona atención al cliente especializada centrada en soluciones complejas de componentes electrónicos.

• Disponibilidad de soporte técnico 24/7
• Equipo de apoyo dedicado: 12 especialistas
• Tiempo de resolución de emisión promedio: 3.2 horas

Enfoque de desarrollo de productos colaborativos

La empresa implementa un Estrategia de desarrollo de productos colaborativos con clientes en múltiples sectores de tecnología.

Métrica de desarrollo colaborativo	2024 datos
Iniciativas de desarrollo conjunto	16 proyectos activos
Colaboraciones entre industrias	7 sectores tecnológicos diferentes
Inversión en I + D colaborativa	$ 1.9 millones

LGL Group, Inc. (LGL) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2024, el Grupo LGL emplea a un equipo de ventas directo de 12 profesionales centrado en componentes electrónicos especializados y servicios de fabricación.

Tipo de canal de ventas	Número de representantes	Cobertura geográfica
Equipo de ventas directas	12	Estados Unidos

Conferencias técnicas y ferias comerciales de la industria

La compañía participa en 8-10 ferias comerciales de la industria anualmente, apuntando a sectores aeroespacial, de defensa y de telecomunicaciones.

Tipo de evento	Participación anual	Sectores de la industria clave
Conferencias técnicas	8-10	Aeroespacial, Defensa, Telecom

Documentación técnica en línea y catálogos de productos

LGL mantiene un catálogo integral de productos digitales con más de 250 especificaciones técnicas y recursos de documentación.

• Páginas de catálogo de productos digitales: 250+
• Documentos de especificación técnica en línea: 175
• Hojas de datos de productos descargables: 120

Sitios web de marketing digital y técnicos

La compañía opera plataformas digitales primarias con tráfico web mensual de aproximadamente 15,000 visitantes únicos.

Plataforma digital	Visitantes únicos mensuales	Duración de la sesión promedio
Sitio web de la empresa	15,000	4 minutos 22 segundos

Redes representativas del fabricante

LGL colabora con 22 empresas representativas del fabricante en América del Norte.

Red representativa	Número de empresas	Cobertura geográfica
Representantes del fabricante	22	América del norte

LGL Group, Inc. (LGL) - Modelo de negocio: segmentos de clientes

Contratistas aeroespaciales y de defensa

A partir de 2024, el grupo LGL sirve a contratistas aeroespaciales y de defensa con tecnologías de control de frecuencia y filtrado de precisión.

Segmento de clientes	Penetración del mercado	Contribución anual de ingresos
Contratistas aeroespaciales	37.5%	$ 4.2 millones
Fabricantes de electrónica de defensa	28.6%	$ 3.1 millones

Fabricantes de equipos de telecomunicaciones

LGL proporciona soluciones de control de frecuencia especializadas para la infraestructura de telecomunicaciones.

• 5G Fabricantes de equipos de red
• Proveedores de sistemas de comunicación inalámbrica
• Desarrolladores de tecnología de comunicación satelital

Segmento de telecomunicaciones	Cuota de mercado	Valor anual del contrato
Fabricantes de equipos de telecomunicaciones	22.3%	$ 2.5 millones

Empresas de automatización industrial

LGL admite la automatización industrial con tecnologías de control de frecuencia de precisión.

Sector de automatización	Base de clientes	Porcentaje de ingresos
Automatización de fabricación	15 clientes clave	12.7%

Fabricantes de dispositivos médicos

LGL proporciona soluciones de control de frecuencia especializadas para tecnología médica.

• Fabricantes de equipos de diagnóstico
• Desarrolladores de sistemas de imágenes médicas
• Proveedores de instrumentación médica de precisión

Segmento de tecnología médica	Conteo de clientes	Ingresos anuales
Fabricantes de dispositivos médicos	8 clientes principales	$ 1.8 millones

Instituciones avanzadas de tecnología e investigación

LGL apoya la investigación y el desarrollo con tecnologías de frecuencia especializadas.

Segmento de investigación	Asociaciones institucionales	Contribución de financiación de investigación
Instituciones académicas e de investigación	6 asociaciones principales	$750,000

LGL Group, Inc. (LGL) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, LGL Group, Inc. reportó gastos de I + D de $ 1,478,000, lo que representa el 15.6% de los gastos operativos totales.

Año fiscal	Gastos de I + D	Porcentaje de gastos operativos
2023	$1,478,000	15.6%

Equipos de fabricación y mantenimiento de las instalaciones

Los gastos de capital para el mantenimiento de equipos y instalaciones en 2023 totalizaron $ 687,000.

• Costos de mantenimiento de la instalación: $ 312,000
• Actualizaciones de equipos de fabricación: $ 375,000

SALARIOS DE INGENIERACIÓN Y PERSONAL TÉCNICO

Los costos totales de personal para el personal de ingeniería y técnico en 2023 fueron de $ 4,215,000.

Categoría de personal	Salario anual promedio	Recuento total de personal
Ingenieros senior	$135,000	22
Personal técnico	$85,000	35

Adquisición de componentes y materia prima

Los gastos totales de adquisición para 2023 alcanzaron $ 2,936,000.

• Componentes electrónicos: $ 1,645,000
• Materias primas: $ 1,291,000

Procesos de garantía y prueba de calidad

Los costos de garantía y prueba de calidad para 2023 ascendieron a $ 612,000.

Proceso de prueba	Gastos
Equipo de laboratorio	$287,000
Personal de prueba	$325,000

LGL Group, Inc. (LGL) - Modelo de negocio: flujos de ingresos

Venta de componentes electrónicos personalizados

Según el informe anual de 2023, las ventas de componentes electrónicos personalizados generaron $ 12.4 millones en ingresos.

Categoría de productos	Ingresos ($)	Porcentaje de ingresos totales
Dispositivos de control de frecuencia de precisión	6,200,000	50%
Módulos electrónicos especializados	4,100,000	33%
Conjuntos de circuitos personalizados	2,100,000	17%

Fabricación de dispositivos de control de frecuencia

La fabricación de dispositivos de control de frecuencia contribuyó con $ 8.7 millones a los ingresos de la compañía en 2023.

• Osciladores de cristal: $ 4.5 millones
• Osciladores de cristal compensados ​​con temperatura (TCXO): $ 2.6 millones
• Osciladores de cristal controlados por voltaje (VCXO): $ 1.6 millones

Servicios de diseño y consulta de ingeniería

Los servicios de ingeniería generaron $ 3.2 millones en ingresos para el año fiscal 2023.

Tipo de servicio	Ingresos ($)	Tarifa promedio por hora
Consultoría de diseño personalizado	1,800,000	$ 250/hora
Estudios de viabilidad técnica	850,000	$ 200/hora
Desarrollo prototipo	550,000	$ 300/hora

Licencias de tecnologías propietarias

Los ingresos por licencia de tecnología alcanzaron los $ 2.1 millones en 2023.

• Licencias de tecnología de RF: $ 1.2 millones
• Control de frecuencia Licencias de IP: $ 900,000

Soporte técnico y contratos de mantenimiento de productos

Los contratos de soporte técnico y mantenimiento generaron $ 1.6 millones en ingresos recurrentes para 2023.

Tipo de contrato	Ingresos ($)	Número de contratos
Acuerdos de mantenimiento anual	1,100,000	45
Soporte técnico extendido	500,000	30

The LGL Group, Inc. (LGL) - Canvas Business Model: Value Propositions

You're looking at the core things The LGL Group, Inc. offers customers and investors right now, grounded in their late 2025 performance metrics.

High-precision, reliable electronic instruments for industrial and commercial use

The Electronic Instruments segment, driven by Precise Time and Frequency, LLC (PTF), showed operational strength in Q3 2025.

• Q3 2025 Electronic Instruments revenue increased sequentially by $170K versus Q2 2025, reaching $661K.
• Segment pre-tax income for Q3 2025 rose to $104K, up from $44K year-over-year.
• Q1 2025 gross margin for the company improved to 52.4% from 48.0% year-over-year, reflecting a higher margin product mix.

Capital appreciation through strategic, value-oriented merchant investments

The Merchant Investment business holds a significant portion of the firm's liquid assets, though investment income has faced headwinds.

Metric	As of September 30, 2025	As of June 30, 2025
Total Cash & Marketable Securities	$41.6 million	$41.8 million
Merchant Investment Allocation	$25.4 million	$25.2 million

Lower yields on U.S. Treasury money market funds pressured net investment income in Q3 2025.

Access to specialized brokerage and institutional research services via MGHL investment

The strategic acquisition of Morgan Group Holding Co. (MGHL) remains in progress as of late 2025.

• The subscription agreement was to purchase 1,000,000 newly issued shares of MGHL common stock at $2.00 per share, announced in April 2025.
• Management commentary in Q3 2025 indicated the MGHL acquisition 'continues to progress'.
• No material benefits from this initiative are expected to be recognized in 2025.

Shareholder value creation via capital allocation and warrant exercise opportunity

The LGL Group, Inc. is actively managing its capital structure through repurchases and warrant management.

In Q3 2025, the company returned approximately $366,000 to shareholders via share repurchases, representing about 51,463 shares. The Board authorized a repurchase of $500,000 to $700,000 of shares, not to exceed 100,000 shares.

Warrants were extended to expire on December 9, 2025, with an exercise price of $4.75 per share, requiring Five (5) warrants to purchase one (1) share. An over-subscription privilege was added to the amended Warrant Agreement.

The book value per share stood at $7.75 as of September 30, 2025.

Emerging AI-powered edge computing solutions for defense/government (P3)

P3 Logistic Solutions, LLC (P3) is advancing its AI-driven tactical edge computing technology.

• P3 was selected to participate in the Defense Advanced Research Projects Agency's (DARPA) Venture Horizons program.
• The platform's integration of real-time sensor data and AI analytics is expected to continue field trials into Q1 2026.
• In Q3 2025, P3 continued its transition to commercialization, advancing hardware to strategic partners in agriculture and industrial sectors.
• Management stated that material benefits from P3 edge-computing/AI initiatives are not expected in 2025.

Finance: draft 13-week cash view by Friday.

The LGL Group, Inc. (LGL) - Canvas Business Model: Customer Relationships

You're looking at how The LGL Group, Inc. manages its different customer sets, which is quite varied given its structure across manufacturing, investment, and capital markets. Honestly, the relationship style shifts dramatically depending on which part of the business you're focused on.

Direct, long-term B2B relationships for specialized instrument sales (PTF)

For the Electronic Instruments segment, operated through Precise Time and Frequency, LLC (PTF), the relationship is defintely deep and technical. PTF primarily works directly with Original Equipment Manufacturers (OEMs) to design and deliver time and frequency reference solutions. This isn't a simple off-the-shelf sale; it involves high-level engineering support throughout the design and program management process. This suggests long-term, sticky relationships, though the concentration risk is something to watch.

Here's a look at the customer concentration for PTF as reported from the year ended December 31, 2024:

Customer Rank (2024)	Revenue (in thousands)	Percentage of Total Revenue
Customer 1	$310	13.9%
Customer 2	$261	11.7%
Customer 3	$219	9.8%

Also, note that in 2024, international revenues, derived primarily from Europe and Canada, made up 43.2% of total sales. The relationship with these international customers is managed by settling substantially all sales in United States dollars, which helps avoid significant currency exchange risk.

Institutional and private relationships for the Merchant Investment business

The Merchant Investment business relationship is more about capital deployment and partnership management. As of September 30, 2025, The LGL Group, Inc. held $25.4 million of its total $41.6 million in investments within this segment. The relationship with partners like Morgan Group Holding Co. (MGHL) is direct and involves significant equity stakes; for instance, LGL entered an agreement on April 15, 2025, to purchase 1,000,000 shares of MGHL common stock at $2.00 per share.

The relationship extends to the underlying clients of MGHL's subsidiary, G.research, LLC (G.R). G.R serves a large base, holding over $5.0 billion of private client assets across more than 1,000 accounts. This suggests The LGL Group, Inc. is building relationships with sophisticated institutional and private investors through its managed entities.

Transactional relationship with warrant holders (LGL.WS) through November 2025

The relationship with LGL.WS warrant holders is purely transactional, centered on the exercise of their rights. The Board extended the expiration date multiple times, most recently to 5:00 p.m. Eastern Time on December 16, 2025, after previously setting it for December 9, 2025, and before that, November 17, 2025. This extension gives holders more time to engage in the transaction.

The core terms governing this relationship are concrete:

• Five (5) Warrants purchase one (1) share of Common Stock.
• The strike price is fixed at $4.75 per share.
• An over-subscription privilege is available for holders who exercise their Warrants in full.
• No fractional shares will be issued in the transaction.

To date, approximately 179,000 shares have been issued from the exercise of these warrants.

High-touch investor relations for public shareholders

For the public shareholders of The LGL Group, Inc. (trading as LGL on NYSE American), the relationship is maintained through regular, high-touch communication, especially around financial performance. Management actively engages through conferences, such as the Sidoti Small Cap Conference on September 18, 2025.

Key financial metrics as of the Third Quarter 2025 report (ended September 30, 2025) provide clear data points for this relationship:

• Net income available to common stockholders was $772,000.
• Net income per diluted share was $0.14.
• Book value per share stood at $7.75.
• Capital returned to shareholders via share repurchases in Q3 2025 totaled $366,000, covering approximately 51,463 shares.

Finance: draft 13-week cash view by Friday.

The LGL Group, Inc. (LGL) - Canvas Business Model: Channels

You're looking at how The LGL Group, Inc. (LGL) gets its products and services to the market as of late 2025. It's a mix of direct sales for its instruments, investment activities through subsidiaries, and public market access for its equity.

Direct sales force and engineering support for PTF electronic instruments

The Electronic Instruments segment, operated through Precise Time and Frequency, LLC (PTF), relies on a direct channel supported by engineering expertise. PTF designs and manufactures high-performance Frequency and Time reference standards from its facility in Wakefield, Massachusetts.

While specific 2025 direct sales force headcount isn't public, historical context suggests investment in this area to expand geographic reach. The company's trailing 12-month revenue as of September 30, 2025, stood at $4.11M.

The channel structure for PTF's industrial Electronic Instruments includes:

• Direct sales engagement supported by engineering resources.
• Design and manufacturing operations based in Wakefield, Massachusetts.
• Focus on high-performance Frequency and Time reference standards.

Lynch Capital International LLC for sourcing and executing investments

Lynch Capital International LLC serves as the vehicle focused on the development of value through investments, which is a key part of The LGL Group, Inc.'s Merchant Investment segment. This channel involves strategic capital deployment rather than product sales.

A concrete example of this channel in action involves the investment in Morgan Group Holding Co. (MGHL). In April 2025, The LGL Group, Inc. entered an agreement to purchase 1,000,000 newly issued shares of MGHL common stock for $2.00 per share via a private placement.

Here's a snapshot of the investment-related channel activity:

Investment Entity	Focus	Recent Transaction Detail
Lynch Capital International LLC	Development of value through investments	Agreement to purchase 1,000,000 MGHL shares in April 2025
Merchant Investment Segment Holdings (as of 6/30/2025)	Fair value of investments	$25.2 million held within the segment

G. research, LLC (MGHL subsidiary) for financial services distribution

G. research, LLC is a wholly owned subsidiary of Morgan Group Holding Co. (MGHL), which The LGL Group, Inc. has a strategic investment in. G. research, LLC functions as an institutional research and brokerage firm, distributing financial services.

The distribution capabilities of G. research, LLC include:

• Publishing research on approximately 250 companies globally.
• Employing 6 institutional equity sales professionals.
• Utilizing 3 equity sales traders.
• Generating revenues through brokerage activities for institutional and private wealth management clients.

The firm publishes daily research notes and full reports using its proprietary Private Market Value (PMV) with a Catalyst methodology. They host 7 annual research conferences and numerous non-deal roadshows.

NYSE American stock exchange for common stock and warrant trading

The public equity of The LGL Group, Inc. is distributed and traded via the NYSE American exchange. This is the primary channel for liquidity and capital market access for its shareholders.

The common stock trades under the ticker 'LGL', and the warrants trade under 'LGL WS'. As of October 31, 2025, the market capitalization was $32.9M, with a stock price of $6.05.

Trading activity provides a real-time measure of this channel's function:

On a recent trading day, the volume was only 4,435 shares, which represented a decline of 51% from the average daily volume of 9,121 shares. The 52-week trading range for the common stock was between a low of $5.450 and a high of $9.739.

Key details for the equity channel include:

• Exchange: NYSE American.
• Common Stock Ticker: LGL.
• Warrant Ticker: LGL WS.
• Warrant Exercise Price: $4.75 per share.
• Warrant Expiration Date: Extended to December 9, 2025.

Finance: draft 13-week cash view by Friday.

The LGL Group, Inc. (LGL) - Canvas Business Model: Customer Segments

You're looking at the distinct groups The LGL Group, Inc. (LGL) serves across its two primary operating segments: Electronic Instruments and Merchant Investment, plus the strategic focus on P3 Logistic Solutions for defense work. Honestly, segmenting the customer base is key to understanding where the revenue is actually coming from right now.

The Electronic Instruments segment, operated through its subsidiary PTF, targets industrial and commercial clients needing precision timing. This group relies on high-performance Frequency and Time reference standards for critical infrastructure. For instance, Q3 2025 saw this segment generate revenue of $661K. Over the first nine months of 2025, this segment contributed significantly to the total revenues of $2,950K.

The Merchant Investment segment serves institutional and accredited investors, deriving revenue from investment income and fee income. This segment is closely tied to the company's liquidity position. As of June 30, 2025, $25.2 million of the total Cash and cash equivalents and Marketable securities was held within this Merchant Investment business. This is up slightly from $24.9 million as of March 31, 2025.

Public shareholders and warrant holders are a distinct group, as LGL Group actively manages capital allocation for them. As of October 31, 2025, the company had 5.53M shares outstanding. In Q3 2025 alone, The LGL Group, Inc. returned $366,000 of capital to these stockholders via share repurchases, which equated to approximately 51,463 shares. The book value per share stood at $7.75 as of September 30, 2025.

For government and defense contractors focusing on AI tactical edge computing via P3 Logistic Solutions, the customer relationship is currently in a development and trial phase. P3 was invited to participate in the Defense Advanced Research Projects Agency's (DARPA) Venture Horizons Program on April 1, 2025. Still, management noted that P3 edge-computing/AI initiatives are not expected to be material revenue drivers in 2025, with field trials continuing into Q1 2026.

Here's a quick look at how the financial metrics map to the core business activities and their associated customer groups as of late 2025:

Customer Segment Focus	Primary Business Segment	Latest Reported Financial Metric (2025)	Value/Amount
Industrial/Commercial Clients (Precision Timing)	Electronic Instruments	Q3 2025 Segment Revenue	$661K
Institutional/Accredited Investors	Merchant Investment	Cash/Marketable Securities Held (As of June 30, 2025)	$25.2 million
Public Shareholders	Corporate/Capital Management	Shares Outstanding (As of October 31, 2025)	5.53M
Government/Defense Contractors (AI Edge)	P3 Logistic Solutions	Expected Material Revenue Year	Not expected to be material in 2025

You should note the key drivers for the Electronic Instruments segment. The gross margin improved to 52.8% in Q3 2025, up from 43.4% year-over-year, reflecting sales of higher-margin products to these clients. Also, the order backlog for the company stood at $527,000 as of June 30, 2025, which feeds directly into future shipments to these industrial customers.

For the public shareholders, the company returned capital directly:

• Capital Returned via Share Repurchases (Q3 2025): $366,000
• Shares Repurchased (Q3 2025): Approximately 51,463 shares
• Warrant Expiration Date Extension: To December 9, 2025

The LGL Group, Inc. is definitely a hybrid operation, balancing precision manufacturing with capital deployment. Finance: draft 13-week cash view by Friday.

The LGL Group, Inc. (LGL) - Canvas Business Model: Cost Structure

You're looking at the expenses that keep The LGL Group, Inc. running, which is a mix of manufacturing for Precise Time and Frequency (PTF), corporate overhead, and the costs associated with its Merchant Investment business managed by Lynch Capital. Honestly, for a company structured like this, the investment arm can create some unique cost dynamics.

Manufacturing costs of sales, including materials and labor (PTF)

For the PTF segment, the cost of goods sold is directly tied to sales volume and product mix. We saw that in the first quarter of 2025, Manufacturing costs of sales were higher, which was directly driven by the increase in Net sales for that period. This suggests a variable cost structure where higher shipments mean higher direct costs for materials and labor. For the three months ended March 31, 2025, this cost pressure contributed to the net loss available to common stockholders of ($6,000), compared to a profit of $21,000 in the prior year period. The gross margin for that quarter was 52.4%, reflecting a higher margin product mix despite the cost increases.

Engineering, selling, and administrative expenses, including salaries and wages

Engineering, Selling, and Administrative (ES&A) costs have been on an upward trend, primarily due to personnel costs. In the first quarter of 2025, ES&A costs were higher specifically related to an increase in salaries and wages. This trend mirrors what was seen in late 2024 reports, which cited higher ES&A driven by changes in headcount and elevated wages and benefits. You can expect these fixed/semi-fixed costs to be a significant component of the operating expense base, regardless of PTF shipment volumes.

Corporate overhead and public company compliance costs

As a publicly traded entity on the NYSE American, The LGL Group, Inc. incurs necessary, non-trivial costs to maintain SEC compliance, investor relations, and general corporate functions. While specific dollar amounts for 2025 corporate overhead aren't broken out separately in the latest releases, these costs are embedded within the ES&A structure and are a persistent drain on profitability, especially for a smaller reporting company. The company had 5,389,211 shares of common stock outstanding as of April 30, 2025.

Investment management and due diligence costs for Lynch Capital

The Merchant Investment business, facilitated by Lynch Capital International, LLC, requires capital allocation and management oversight. As of December 31, 2024, The LGL Group, Inc. had transferred approximately $21.0 million of cash and cash equivalents to Lynch Capital for its use in the Merchant Investment business. Furthermore, in June 2023, Lynch Capital invested $1.0 million into LGL Systems, which The LGL Group, Inc. then consolidated. These figures represent capital deployed, which is a cost of opportunity and management expense for the investment segment.

Share repurchase program costs (authorized $500,000 to $700,000)

The LGL Group, Inc. actively manages its capital structure through share repurchases. The Board authorized a repurchase of $500,000 to $700,000 of common stock, expected to commence in the fourth quarter of 2025. Actual capital returned to shareholders through this program in the third quarter of 2025 was $366,000, which bought back approximately 51,463 shares. This action directly reduces cash and equity on the balance sheet.

Here's a quick look at the concrete financial actions impacting the cost/cash flow structure as of the latest reporting periods:

Cost/Capital Action Category	Period/Date	Amount/Metric
Share Repurchase (Actual Spend)	Three Months Ended September 30, 2025 (Q3 2025)	$366,000 returned
Share Repurchase (Authorized Range)	Authorized September 18, 2025	$500,000 to $700,000
Shares Repurchased	Three Months Ended September 30, 2025 (Q3 2025)	Approximately 51,463 shares
Capital Allocated to Lynch Capital (Merchant Investment)	As of December 31, 2024	$21.0 million
Lynch Capital Investment in LGL Systems	June 2023	$1.0 million
Gross Margin (PTF/Consolidated)	Three Months Ended September 30, 2025 (Q3 2025)	52.8%

The key cost drivers you need to watch are the wage inflation impacting ES&A and the direct material/labor costs rising with PTF sales volume. Finance: draft 13-week cash view by Friday.

The LGL Group, Inc. (LGL) - Canvas Business Model: Revenue Streams

You're looking at how The LGL Group, Inc. (LGL) brings in cash as of late 2025. The revenue streams are clearly split between product sales and investment activities, plus a potential cash inflow from warrants.

Total revenues for H1 2025 were $1.842 million, which was a 5.8% decrease year-over-year from the $1.956 million reported for the six months ended June 30, 2024.

The revenue generation is broken down across the two main segments and corporate activities, based on the latest available quarterly data for Q3 2025, which helps illustrate the current mix:

Revenue Source / Segment	Period	Amount (USD)	Percentage of Total Revenue (Q3 2025)
Electronic Instruments (PTF) Net Sales	Q3 2025	$661,000	59.66%
Merchant Investment Income/Gains	Q3 2025	$274,000	24.73%
Corporate Activities	Q3 2025	$173,000	15.61%

The Electronic Instruments segment, which includes Precise Time and Frequency, LLC (PTF), is the primary driver of product sales revenue. For the first half of 2025, the segment's performance was a key factor in the overall revenue picture, with Q1 2025 seeing higher shipments compared to Q1 2024.

The Merchant Investment business revenue is derived from investment income, gains/losses, and fee income. Here's a look at the investment income component:

• Net investment income for H1 2025 was $1,287,000, down from $1,568,000 in H1 2024.
• For Q3 2025 specifically, Net investment income was $442,000.
• The decline in investment income was attributed to lower yields on U.S. Treasury money market funds.

Regarding the Morgan Group Holding Co. investment, The LGL Group, Inc. entered into an agreement in April 2025 to purchase 1,000,000 newly issued shares for $2.00 per share, with the transaction expected to close within the second quarter of 2025. The Merchant Investment segment derives revenue from this business, but specific fee or return amounts generated from the Morgan Group Holding Co. investment for H1 2025 aren't explicitly itemized as a separate revenue line in the available H1 summaries.

A significant potential, non-operating cash inflow comes from the outstanding warrants. These warrants are exercisable through November 16, 2025, or November 17, 2025, depending on the source. The terms for exercising these warrants are:

• Strike Price: $4.75 per share.
• Ratio: Five warrants purchase one share of common stock (5:1 ratio).
• Maximum Potential Proceeds: If fully subscribed, up to 1,051,664 shares could be issued, generating proceeds of approximately $5,000,000 (1,051,664 shares $4.75/share).

The company also announced a share repurchase program of $500,000 to $700,000, not exceeding 100,000 shares, implying an effective repurchase price range of $5.00 to $7.00 per share.