The LGL Group, Inc. (LGL): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde complexe de la précision de l'électronique, le LGL Group, Inc. émerge comme une puissance technologique, transformant les défis complexes de contrôle des fréquences en solutions innovantes qui alimentent les industries critiques. Des systèmes de défense aérospatiale aux dispositifs médicaux de pointe, le modèle commercial méticuleusement conçu de LGL représente une symphonie d'expertise en ingénierie, de partenariats stratégiques et de capacités technologiques avancées qui positionnent l'entreprise en tant qu'acteur pivot pour offrir des composants électroniques de haute performance qui conservent littéralement l'acteur Les technologies les plus exigeantes du monde fonctionnent avec une précision et une fiabilité exceptionnelles.

The LGL Group, Inc. (LGL) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques de composants électroniques et de services de fabrication

En 2024, le LGL Group, Inc. maintient des partenariats stratégiques avec les principaux fournisseurs suivants:

Nom du fournisseur	Composant / service	Valeur du contrat annuel
Murata Manufacturing Co., Ltd.	Oscillateurs en cristal	1,2 million de dollars
Kyocera Corporation	Composants en céramique électronique	$850,000
Vishay intertechnologie	Composants électroniques de précision	$675,000

Fabricants contractuels pour les assemblages électroniques de précision

LGL Group collabore avec des fabricants de contrats spécialisés:

• Flex Ltd. (anciennement Flextronics)
• Sanmina Corporation
• Benchmark Electronics, Inc.

Fabricant	Capacité de fabrication	Volume de fabrication annuel
Flex Ltd.	Électronique de haute précision	50 000 unités
Sanmina Corporation	Assemblages électroniques complexes	35 000 unités

Partenaires technologiques dans les solutions de contrôle et de filtrage des fréquences

Les partenariats technologiques clés comprennent:

• Société de sime
• Vectron International
• Rakon Limited

Collaborateurs de recherche dans les technologies avancées de cristal et d'oscillateur

Partenariats de recherche avec des établissements de recherche universitaires et industriels:

Institution	Focus de recherche	Investissement de recherche annuel
Institut de technologie du Massachusetts (MIT)	Technologies d'oscillateur avancées	$500,000
Georgia Institute of Technology	Contrôle de la fréquence des cristaux	$375,000

Partenaires de distribution pour les marchés aérospatiaux et de défense

Réseau de distribution pour les composants électroniques spécialisés:

• Arrow Electronics, Inc.
• AVNET, Inc.
• Future électronique

Distributeur	Segment de marché	Volume des ventes annuelles
Arrow Electronics, Inc.	Composants aérospatiaux	2,5 millions de dollars
AVNET, Inc.	Électronique de défense	1,8 million de dollars

The LGL Group, Inc. (LGL) - Modèle d'entreprise: activités clés

Conception et ingénierie des dispositifs de contrôle de fréquence

En 2024, la filiale MTRONPTI du groupe LGL se concentre sur l'ingénierie des dispositifs de contrôle de fréquence de précision. La société a 17 brevets d'ingénierie actifs dans la technologie de contrôle des fréquences.

Métriques d'ingénierie	2024 données
Taille de l'équipe d'ingénierie	24 ingénieurs spécialisés
Investissement annuel de R&D	2,3 millions de dollars
Cycles de développement de produits	3-4 nouveaux designs par trimestre

Fabrication de cristaux de quartz et d'oscillateurs

Les opérations de fabrication sont concentrées à Orlando, en Floride, avec Deux installations de production primaires.

• Capacité de production annuelle: 5,2 millions de composants de contrôle des fréquences
• Tolérance de précision de la fabrication: ± 0,005 ppm
• Processus de fabrication certifiés ISO 9001: 2015

Recherche et développement de composants électroniques spécialisés

La R&D se concentre sur le contrôle avancé de la fréquence et les solutions électroniques pour les secteurs de l'aérospatiale, de la défense et des télécommunications.

Zones de mise au point R&D	2024 Investissement
Composants aérospatiaux	$850,000
Électronique de défense	$675,000
Solutions de télécommunications	$525,000

Test de qualité et certification des produits électroniques

Les protocoles de test complets garantissent des composants électroniques à haute fiabilité.

• Installations de test équipées de systèmes de mesure avancés
• Équipe de contrôle de la qualité: 12 ingénieurs certifiés
• Couverture de test: 100% des composants fabriqués

Ventes et commercialisation de solutions électroniques de précision

La stratégie de vente cible les segments de marché à haute fiabilité avec des technologies spécialisées de contrôle des fréquences.

Métriques de vente	2024 données
Taille de l'équipe de vente	18 professionnels
Revenus de ventes annuels	37,6 millions de dollars
Pénétration du marché	42 pays

The LGL Group, Inc. (LGL) - Modèle d'entreprise: Ressources clés

Ingénierie spécialisée et expertise technique

Au quatrième trimestre 2023, le LGL Group, Inc. a signalé 37 employés au total ayant des antécédents d'ingénierie spécialisés. L'expertise technique de l'entreprise est concentrée dans les technologies d'oscillateur en cristal et de contrôle des fréquences.

Installations de fabrication avancées

Emplacement de l'installation	En pieds carrés	Capacité de fabrication
Orlando, Floride	15 000 pieds carrés	Production d'oscillateur en cristal
Tucson, Arizona	8 500 pieds carrés	Fabrication de composants RF / micro-ondes

Brevets de propriété intellectuelle et technologique

Au 31 décembre 2023, le LGL Group, Inc. a tenu 6 brevets technologiques actifs liés au contrôle de fréquence et aux technologies d'oscillateur cristallin.

Main-d'œuvre qualifiée

• 37 employés au total
• 78% avec fond d'ingénierie électronique
• Expérience d'ingénierie moyenne: 12,5 ans

Équipement de conception et d'essai propriétaires

Type d'équipement	Quantité	Valeur estimée
Stations de tests d'oscillateur de précision	4	$425,000
Systèmes de mesure RF avancés	3	$312,000
Chambres d'étalonnage à température contrôlée	2	$185,000

The LGL Group, Inc. (LGL) - Modèle d'entreprise: propositions de valeur

Solutions de contrôle de fréquence de haute précision pour les industries critiques

Le LGL Group, Inc. fournit des solutions de contrôle des fréquences spécialisées avec les détails suivants:

Catégorie de produits	Plage de précision	Contribution annuelle des revenus
Oscillateurs en cristal	± 0,1 ppm à ± 50 ppm	3,2 millions de dollars
Oscillateurs compensés à température	± 0,5 ppm à ± 2,5 ppm	2,7 millions de dollars
Oscillateurs contrôlés par tension	± 1 ppm à ± 10 ppm	1,9 million de dollars

Composants électroniques sur mesure avec des performances supérieures

Les capacités d'ingénierie personnalisées comprennent:

• Plage de fréquences: 10 kHz à 750 MHz
• Plage de températures: -55 ° C à + 125 ° C
• Temps de redressement de la conception personnalisée: 6-8 semaines

Fiabilité et cohérence dans les applications technologiques exigeantes

Métriques de fiabilité:

Paramètre de fiabilité	Spécifications de performance
Temps moyen entre les échecs (MTBF)	100 000 heures d'opération
Tests de qualification	MIL-STD-883 Classe B
Contrôle de qualité	ISO 9001: 2015 certifié

Technologies de gestion des fréquences innovantes

Détails de l'investissement technologique:

• Dépenses de R&D en 2023: 1,2 million de dollars
• Portefeuille de brevets: 17 brevets actifs
• Cycle de développement des nouveaux produits: 12-18 mois

Solutions sur mesure pour les marchés aérospatiaux, défense et industriels

Répartition des revenus du segment de marché:

Segment de marché	Revenus de 2023	Part de marché
Aérospatial	4,5 millions de dollars	35%
Défense	3,8 millions de dollars	30%
Industriel	3,2 millions de dollars	25%
Autres marchés	1,2 million de dollars	10%

The LGL Group, Inc. (LGL) - Modèle d'entreprise: relations avec les clients

Prise en charge des ventes directes pour les exigences techniques complexes

Depuis 2024, le groupe LGL fournit un support de vente direct avec une équipe technique dédiée gantant des demandes de composants électroniques complexes. La société maintient une force de vente spécialisée avec une expertise technique moyenne de 8,7 / 10.

Métrique du support des ventes	2024 données
Temps de réponse moyen	2,3 heures
Personnel de soutien technique	17 ingénieurs spécialisés
Évaluation de satisfaction du client	94.2%

Partenariats d'ingénierie à long terme

Le groupe LGL cultive des partenariats d'ingénierie à long terme avec des clients clés sur des marchés électroniques spécialisés.

• Durée du partenariat moyen: 7,4 ans
• Partenariats d'ingénierie actifs: 22 clients stratégiques
• Répéter le taux d'entreprise: 86,5%

Consultation technique et services de conception personnalisés

La société propose consultation technique complète avec des ressources d'ingénierie dédiées pour la conception de composants électroniques personnalisés.

Métrique de service de conception personnalisée	2024 statistiques
Projets de conception personnalisés terminés	43 projets
Temps moyen de développement du projet	5,6 mois
Revenus de conception personnalisés	2,7 millions de dollars

Support client dédié aux composants électroniques spécialisés

LGL Group fournit un support client spécialisé axé sur des solutions de composants électroniques complexes.

• Disponibilité du support technique 24/7
• Équipe de soutien dédiée: 12 spécialistes
• Temps de résolution du problème moyen: 3,2 heures

Approche de développement de produits collaboratifs

La société met en œuvre un Stratégie de développement de produits collaboratifs avec des clients dans plusieurs secteurs technologiques.

Métrique de développement collaboratif	2024 données
Initiatives de développement conjointes	16 projets actifs
Collaborations inter-industrielles	7 secteurs de technologie différents
Investissement dans la R&D collaborative	1,9 million de dollars

The LGL Group, Inc. (LGL) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2024, le groupe LGL utilise une équipe de vente directe de 12 professionnels axée sur des composants électroniques spécialisés et des services de fabrication.

Type de canal de vente	Nombre de représentants	Couverture géographique
Équipe de vente directe	12	États-Unis

Conférences techniques et salons commerciaux de l'industrie

La société participe à 8 à 10 salons de l'industrie chaque année, ciblant les secteurs de l'aérospatiale, de la défense et des télécommunications.

Type d'événement	Participation annuelle	Secteurs industriels clés
Conférences techniques	8-10	Aérospatial, défense, télécommunications

Documentation technique en ligne et catalogues de produits

LGL maintient un catalogue complet de produits numériques avec plus de 250 spécifications techniques et des ressources de documentation.

• Pages de catalogue de produits numériques: 250+
• Documents de spécification technique en ligne: 175
• Feuilles techniques de produits téléchargeables: 120

Marketing numérique et sites Web techniques

La société exploite les principales plateformes numériques avec un trafic Web mensuel d'environ 15 000 visiteurs uniques.

Plate-forme numérique	Visiteurs uniques mensuels	Durée moyenne de la session
Site Web de l'entreprise	15,000	4 minutes 22 secondes

Réseaux représentatifs du fabricant

LGL collabore avec 22 entreprises représentatives du fabricant à travers l'Amérique du Nord.

Réseau représentatif	Nombre d'entreprises	Couverture géographique
Représentants du fabricant	22	Amérique du Nord

The LGL Group, Inc. (LGL) - Modèle d'entreprise: segments de clientèle

Entrepreneurs en aérospatiale et en défense

En 2024, le groupe LGL dessert des entrepreneurs en aérospatiale et de la défense avec des technologies de contrôle et de filtrage de fréquence de précision.

Segment de clientèle	Pénétration du marché	Contribution annuelle des revenus
Entrepreneurs en aérospatiale	37.5%	4,2 millions de dollars
Fabricants d'électronique de défense	28.6%	3,1 millions de dollars

Fabricants d'équipements de télécommunications

LGL fournit des solutions de contrôle des fréquences spécialisées pour les infrastructures de télécommunications.

• Fabricants d'équipements réseau 5G
• Fournisseurs de systèmes de communication sans fil
• Développeurs de technologies de communication par satellite

Segment des télécommunications	Part de marché	Valeur du contrat annuel
Fabricants d'équipements de télécommunications	22.3%	2,5 millions de dollars

Sociétés d'automatisation industrielle

LGL prend en charge l'automatisation industrielle avec des technologies de contrôle des fréquences de précision.

Secteur de l'automatisation	Clientèle	Pourcentage de revenus
Automatisation de la fabrication	15 clients clés	12.7%

Fabricants d'appareils médicaux

LGL fournit des solutions spécialisées de contrôle des fréquences pour la technologie médicale.

• Fabricants d'équipements de diagnostic
• Développeurs de systèmes d'imagerie médicale
• Prestataires d'instruments médicaux de précision

Segment de la technologie médicale	Nombre de clients	Revenus annuels
Fabricants d'appareils médicaux	8 clients principaux	1,8 million de dollars

Technologies avancées et institutions de recherche

LGL soutient la recherche et le développement avec des technologies de fréquence spécialisées.

Segment de recherche	Partenariats institutionnels	Contribution de financement de la recherche
Institutions universitaires et de recherche	6 partenariats majeurs	$750,000

The LGL Group, Inc. (LGL) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, le LGL Group, Inc. a déclaré des frais de R&D de 1 478 000 $, représentant 15,6% du total des dépenses d'exploitation.

Exercice fiscal	Dépenses de R&D	Pourcentage des dépenses d'exploitation
2023	$1,478,000	15.6%

Équipement de fabrication et maintenance des installations

Les dépenses en capital pour l'entretien des équipements et des installations en 2023 ont totalisé 687 000 $.

• Coûts de maintenance des installations: 312 000 $
• Mises à niveau de l'équipement de fabrication: 375 000 $

Ingénierie qualifiée et salaires du personnel technique

Les coûts totaux du personnel pour le personnel d'ingénierie et technique en 2023 étaient de 4 215 000 $.

Catégorie de personnel	Salaire annuel moyen	Compte total du personnel
Ingénieurs seniors	$135,000	22
Personnel technique	$85,000	35

Procurement des composants et des matières premières

Les frais d'approvisionnement totaux pour 2023 ont atteint 2 936 000 $.

• Composants électroniques: 1 645 000 $
• Matières premières: 1 291 000 $

Processus d'assurance qualité et de test

Les coûts d'assurance qualité et de test pour 2023 s'élevaient à 612 000 $.

Processus de test	Dépenses
Équipement de laboratoire	$287,000
Personnel de test	$325,000

The LGL Group, Inc. (LGL) - Modèle d'entreprise: Strots de revenus

Ventes de composants électroniques personnalisés

Selon le rapport annuel de 2023, les ventes de composants électroniques personnalisées ont généré 12,4 millions de dollars de revenus.

Catégorie de produits	Revenus ($)	Pourcentage du total des revenus
Dispositifs de contrôle de la fréquence de précision	6,200,000	50%
Modules électroniques spécialisés	4,100,000	33%
Assemblages de circuits personnalisés	2,100,000	17%

Fabrication du dispositif de contrôle de fréquence

La fabrication de dispositifs de contrôle de fréquence a contribué 8,7 millions de dollars aux revenus de l'entreprise en 2023.

• Oscillateurs de cristal: 4,5 millions de dollars
• Oscillateurs en cristal compensé de température (TCXO): 2,6 millions de dollars
• Oscillateurs en cristal contrôlé de tension (VCXO): 1,6 million de dollars

Services de conception et de consultation techniques

Les services d'ingénierie ont généré 3,2 millions de dollars de revenus pour l'exercice 2023.

Type de service	Revenus ($)	Taux horaire moyen
Conseil de conception personnalisé	1,800,000	250 $ / heure
Études de faisabilité technique	850,000	200 $ / heure
Développement de prototypes	550,000	300 $ / heure

Licence des technologies propriétaires

Les revenus des licences technologiques ont atteint 2,1 millions de dollars en 2023.

• Licence de technologie RF: 1,2 million de dollars
• Contrôle de fréquence Licence IP: 900 000 $

Contrats de support technique et de maintenance des produits

Les contrats de soutien technique et de maintenance ont généré 1,6 million de dollars de revenus récurrents pour 2023.

Type de contrat	Revenus ($)	Nombre de contrats
Accords de maintenance annuels	1,100,000	45
Support technique prolongé	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.