Richardson Electronics, Ltd. (Rell): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage complexe de l'innovation des composants électroniques, Richardson Electronics, Ltd. (Rell) apparaît comme une centrale de précision technologique, naviguant stratégiquement des marchés industriels complexes avec son modèle commercial méticuleusement conçu. En mélangeant parfaitement une expertise en ingénierie spécialisée, des capacités de fabrication de pointe et des solutions ciblées dans divers secteurs comme les semi-conducteurs, les télécommunications et la technologie médicale, la société s'est positionnée comme un facteur critique des technologies électroniques avancées. Leur approche unique transforme les défis techniques en opportunités stratégiques, offrant des composants de haute performance et des solutions d'ingénierie personnalisées qui stimulent l'innovation dans les industries mondiales.

Richardson Electronics, Ltd. (Rell) - Modèle commercial: partenariats clés

Fournisseurs stratégiques de composants électroniques et de tubes à vide

Depuis l'exercice 2023, Richardson Electronics maintient des partenariats stratégiques avec les principaux fournisseurs suivants:

Fournisseur	Type de composant	Valeur de l'offre annuelle
CPI International	Tubes à vide	3,2 millions de dollars
Division EIMAC	Tubes électron-puissance	2,7 millions de dollars
Dispositifs électron Svetlana	Composants électroniques spécialisés	1,9 million de dollars

Fabricants d'équipements d'origine (OEM) en technologie de puissance et micro-ondes

Richardson Electronics collabore avec plusieurs OEM dans différents domaines technologiques:

• Fabricants d'équipements de communication
• Fournisseurs de systèmes d'énergie industrielle
• Producteurs d'équipements de fabrication de semi-conducteurs
• Sociétés d'équipement de technologie médicale

Catégorie OEM	Nombre de partenariats actifs	Contribution des revenus annuels estimés
OEM de télécommunications	12	6,5 millions de dollars
OEM de puissance industrielle	8	4,3 millions de dollars
OEM de technologie médicale	5	2,1 millions de dollars

Des partenaires de distribution mondiaux dans plusieurs industries

Richardson Electronics conserve des partenariats de distribution dans les régions suivantes:

Région géographique	Nombre de partenaires de distribution	Couverture du marché
Amérique du Nord	22	45% de la distribution totale
Europe	15	25% de la distribution totale
Asie-Pacifique	18	30% de la distribution totale

Collaborations de recherche et développement avec les entreprises technologiques

Détails du partenariat R&D pour l'exercice 2023:

Partenaire de recherche	Domaine de mise au point	Investissement annuel de R&D
Institut de technologie de l'Illinois	Électronique électrique	$750,000
Rochester Institute of Technology	Technologie du tube à vide	$600,000
Université du Wisconsin-Madison	Recherche de composants micro-ondes	$500,000

Richardson Electronics, Ltd. (Rell) - Modèle d'entreprise: Activités clés

Conception et ingénierie de composants électroniques spécialisés

Au quatrième trimestre 2023, Richardson Electronics a investi 3,2 millions de dollars dans les activités de recherche et développement. La société maintient 27 brevets d'ingénierie actifs dans la conception de composants électroniques spécialisés.

Métrique de R&D	Valeur 2023
Dépenses totales de R&D	$3,200,000
Brevets d'ingénierie actifs	27
Personnel d'ingénierie	62 professionnels

Fabrication de technologies d'énergie et de micro-ondes

Richardson Electronics exploite trois installations de fabrication avec une capacité de production totale de 1,4 million de composants électroniques par an.

• Emplacements de fabrication: Illinois (primaire), Californie et installations des partenaires internationaux
• Volume de production annuel: 1,4 million de composants électroniques
• Taux d'efficacité de la fabrication: 92,5%

Support technique et solutions personnalisées pour les clients

La société fournit un soutien technique dans 42 pays une équipe dédiée de 95 spécialistes de support technique.

Métrique de support technique	Valeur 2023
Couverture mondiale du support	42 pays
Personnel de soutien technique	95 spécialistes
Temps de réponse moyen	4,2 heures

Ventes mondiales et commercialisation de produits électroniques

Richardson Electronics a généré 148,3 millions de dollars de revenus totaux pour l'exercice 2023, avec 35% des ventes des marchés internationaux.

• Revenu annuel total: 148,3 millions de dollars
• Contribution du marché international: 35%
• Taille de l'équipe de vente: 73 professionnels

Gestion des stocks et optimisation de la chaîne d'approvisionnement

La société maintient un inventaire d'une valeur de 42,6 millions de dollars avec un ratio de chiffre d'affaires de 6,2 fois par an.

Métrique de gestion des stocks	Valeur 2023
Valeur d'inventaire total	$42,600,000
Ratio de rotation des stocks	6.2x
Partenaires de la chaîne d'approvisionnement	54 fournisseurs mondiaux

Richardson Electronics, Ltd. (Rell) - Modèle commercial: Ressources clés

Expertise en génie spécialisé dans les composants électroniques

Depuis l'exercice 2023, Richardson Electronics a employé 313 employés au total, avec environ 42% dédiés aux rôles d'ingénierie et techniques.

Métriques du département d'ingénierie	Valeur
Personnel d'ingénierie total	132 employés
Expérience d'ingénierie moyenne	14,6 ans
Investissement en R&D en 2023	5,2 millions de dollars

Technologie propriétaire et conceptions de produits

Richardson Electronics maintient un portefeuille de propriétés intellectuels robuste.

• Brevets actifs totaux: 37
• Demandes de brevet en attente: 12
• Catégories de technologie couvertes: Electronics Power, composants RF / micro-ondes, solutions semi-conductrices

Installations de fabrication

Emplacement	Type d'installation	Opérationnel depuis
Genève, Illinois (siège)	Centre de fabrication et de distribution primaire	1947
Partenaires de fabrication internationale	Production de composants spécialisés	Divers emplacements

Main-d'œuvre technique qualifiée

Composition de la main-d'œuvre en 2023:

• Total des employés: 313
• Personnel d'ingénierie: 132
• Personnel de soutien technique: 68
• Diplômes avancés: 24% de la main-d'œuvre technique

Portefeuille de propriété intellectuelle

Catégorie IP	Quantité	Coût de protection annuel
Brevets actifs	37	$425,000
Inscriptions de la marque	16	$85,000
Protections secrètes du commerce	9	$210,000

Richardson Electronics, Ltd. (Rell) - Modèle d'entreprise: propositions de valeur

Composants électroniques haute performance pour les marchés de niche

Au quatrième trimestre 2023, Richardson Electronics a généré 52,3 millions de dollars de revenus à partir de composants électroniques spécialisés. Les catégories de produits comprennent:

• Dispositifs de semi-conducteurs de puissance
• RF et technologies micro-ondes
• Solutions de tube électronique

Catégorie de produits	Revenus (2023)	Part de marché
Semi-conducteurs de puissance	18,7 millions de dollars	3.2%
Composants micro-ondes	22,5 millions de dollars	4.1%
Tubes électroniques	11,1 millions de dollars	2.8%

Solutions d'ingénierie personnalisées pour des défis techniques complexes

Richardson Electronics a investi 3,2 millions de dollars en R&D en 2023, en se concentrant sur les services d'ingénierie spécialisés.

• Capacités de conception personnalisées
• Ingénierie spécifique à l'application
• Support de développement des prototypes

Produits fiables et technologies micro-ondes

La gamme de produits de la technologie de puissance a représenté 26,9 millions de dollars en revenus 2023, avec une cote de fiabilité des produits de 98,6%.

Type de technologie	Ventes annuelles	Cote de fiabilité
Dispositifs d'alimentation haute tension	14,3 millions de dollars	99.2%
Modules d'alimentation micro-ondes	12,6 millions de dollars	98.1%

Support technique mondial et expertise

Les opérations de soutien technique couvrent 12 pays avec 87 membres du personnel de soutien dédié.

• Assistance technique mondiale 24/7
• Canaux de support multi-langues
• Capacités de diagnostic à distance

Solutions innovantes pour les applications industrielles et semi-conducteurs

Le segment des solutions de semi-conducteurs a généré 17,6 millions de dollars en 2023, avec 5 nouvelles demandes de brevet déposées.

Zone de demande	Revenu	Demandes de brevet
Semi-conducteurs industriels	9,4 millions de dollars	3
Technologies avancées des semi-conducteurs	8,2 millions de dollars	2

Richardson Electronics, Ltd. (Rell) - Modèle d'entreprise: relations avec les clients

Assistance des ventes techniques directes

Depuis le quatrième trimestre 2023, Richardson Electronics maintient une équipe de vente technique dédiée de 47 spécialistes dans plusieurs divisions de produits. La société a signalé 2 893 interactions de soutien technique direct au cours de l'exercice 2023.

Canal de support	Volume d'interaction annuel	Temps de réponse moyen
Support téléphonique	1 247 interactions	22 minutes
Assistance par e-mail	1 346 interactions	4,5 heures
Chat en ligne	300 interactions	15 minutes

Partenariats d'ingénierie à long terme

Au cours de l'exercice 2023, Richardson Electronics a maintenu 63 partenariats d'ingénierie à long terme actifs avec des clients industriels et technologiques.

• Durée du partenariat moyen: 4,7 ans
• Revenus de partenariat: 12,3 millions de dollars
• Répéter le taux de partenariat: 78%

Développement de produits personnalisés

Richardson Electronics a réalisé 87 projets de développement de produits personnalisés en 2023, ce qui représente 22% du total des revenus annuels.

Secteur de l'industrie	Projets personnalisés	Valeur moyenne du projet
Semi-conducteur	34 projets	$276,000
Électronique industrielle	29 projets	$218,500
Télécommunications	24 projets	$192,700

Consultation technique en cours

La société a fourni 512 engagements de consultation technique en cours en 2023, avec une valeur de consultation moyenne de 45 600 $.

Modèle de service client réactif

Richardson Electronics a obtenu une cote de satisfaction du client de 96,4% en 2023, avec un temps de résolution moyen de 1,7 jours.

• Représentants totaux du service à la clientèle: 32
• Budget annuel du service à la clientèle: 3,1 millions de dollars
• Taux de rétention de la clientèle: 91,2%

Richardson Electronics, Ltd. (Rell) - Modèle d'entreprise: canaux

Équipe de vente directe

Depuis l'exercice 2023, Richardson Electronics a maintenu une équipe de vente directe de 87 professionnels de la vente couvrant plusieurs régions géographiques.

Canal de vente	Nombre de représentants	Couverture géographique
Amérique du Nord	42	États-Unis et Canada
Europe	23	Allemagne, Royaume-Uni, France
Asie-Pacifique	22	Chine, Japon, Corée du Sud

Plateforme de commerce électronique en ligne

Richardson Electronics exploite une plate-forme de commerce électronique B2B complète avec les mesures suivantes:

• Trafficage du site Web: 156 000 visiteurs uniques mensuels
• Catalogue de produits en ligne: 3 247 composants électroniques distincts
• Volume des transactions numériques: 14,3 millions de dollars au cours de l'exercice 2023

Salons et conférences de l'industrie

Participation annuelle aux événements commerciaux techniques:

Type d'événement	Nombre d'événements	Investissement total
Salons internationaux	12	$687,000
Conférences techniques	8	$412,000

Réseaux de distributeurs techniques

Composition du canal de distribution:

• Total des distributeurs autorisés: 127
• Couverture mondiale de la distribution: 38 pays
• Revenus de vente des distributeurs: 62,4 millions de dollars au cours de l'exercice 2023

Plateformes de marketing numérique et de communication technique

Métriques d'engagement numérique:

Plate-forme	Adeptes / abonnés	Taux d'engagement annuel
Liendin	24,700	4.2%
Webinaires techniques	3 600 participants enregistrés	6.7%
Envoyez un e-mail à la newsletter technique	11 500 abonnés	3.9%

Richardson Electronics, Ltd. (Rell) - Modèle d'entreprise: segments de clientèle

Fabricants d'équipements industriels

Richardson Electronics dessert les fabricants d'équipements industriels avec des composants électroniques spécialisés et des solutions d'alimentation.

Métriques du segment de la clientèle	2023 données
Clients de fabrication industrielle totale	187
Revenus annuels du segment industriel	42,3 millions de dollars
Valeur du contrat client moyen	$226,000

Sociétés de semi-conducteurs

Richardson Electronics fournit des composants électroniques critiques aux fabricants de semi-conducteurs.

• Pays de clients semi-conducteurs clés: États-Unis, Chine, Taïwan
• Revenus de segment semi-conducteur: 31,7 millions de dollars en 2023
• Nombre de clients de l'entreprise semi-conducteurs: 64

Fournisseurs de télécommunications

L'infrastructure de télécommunications nécessite des composants électroniques spécialisés fournis par Richardson Electronics.

Détails du segment des télécommunications	2023 statistiques
Clients totaux de télécommunications	43
Revenus de segments annuels	22,5 millions de dollars
Tarif client répété	87%

Entreprises de technologie médicale

Richardson Electronics soutient les entreprises de technologie médicale avec des composants électroniques de précision.

• Nombre de clients de la technologie médicale: 52
• Revenu du segment: 18,6 millions de dollars en 2023
• Zones d'intervention principales: équipement de diagnostic, imagerie médicale

Institutions de recherche scientifique

Richardson Electronics propose des solutions électroniques spécialisées pour les environnements de recherche scientifique.

Segment de l'institution de recherche	2023 données
Clients totaux de l'institution de recherche	37
Revenus de segments annuels	14,2 millions de dollars
Attribution moyenne du budget de la recherche client	$384,000

Richardson Electronics, Ltd. (Rell) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Richardson Electronics a déclaré des dépenses de R&D de 4,2 millions de dollars, ce qui représente 4,7% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	$4,200,000	4.7%
2022	$3,900,000	4.5%

Coûts de fabrication et de production

Les coûts de fabrication totaux pour Richardson Electronics en 2023 étaient de 37,6 millions de dollars, avec une ventilation comme suit:

• Coûts de main-d'œuvre directes: 12,3 millions de dollars
• Dépenses de matières premières: 18,5 millions de dollars
• Fabrication des frais généraux: 6,8 millions de dollars

Dépenses de vente et de marketing

Les frais de vente et de marketing pour la société ont totalisé 8,1 millions de dollars au cours de l'exercice 2023.

Catégorie de dépenses	Montant
Compensation du personnel des ventes	4,3 millions de dollars
Campagnes marketing	2,5 millions de dollars
Communication client	1,3 million de dollars

Distribution et logistique globales

Les coûts de distribution et de logistique pour l'électronique Richardson en 2023 s'élevaient à 5,7 millions de dollars.

• Force et expédition: 3,2 millions de dollars
• Entreposage: 1,5 million de dollars
• Gestion de la logistique internationale: 1,0 million de dollars

Maintenance des infrastructures technologiques

Les frais de maintenance des infrastructures technologiques se sont élevés à 3,5 millions de dollars au cours de l'exercice 2023.

Composant d'infrastructure	Coût de maintenance
Systèmes informatiques	1,8 million de dollars
Infrastructure réseau	1,2 million de dollars
Cybersécurité	0,5 million de dollars

Richardson Electronics, Ltd. (Rell) - Modèle d'entreprise: Strots de revenus

Ventes de produits de composants électroniques

Pour l'exercice 2023, Richardson Electronics a déclaré des ventes nettes totales de 148,3 millions de dollars, avec des composants électroniques représentant une partie importante des revenus.

Catégorie de produits	Revenus ($ m)	Pourcentage des ventes totales
Réseau électrique / diffusion	44.2	29.8%
Semi-conducteur	37.6	25.3%
RF / micro-ondes	66.5	44.9%

Frais de service d'ingénierie personnalisés

Les services d'ingénierie personnalisés ont généré environ 8,5 millions de dollars de revenus pour l'exercice 2023.

Services de consultation technique

Les services de consultation technique ont contribué 3,2 millions de dollars à la source de revenus de la société en 2023.

Pièces de remplacement et contrats de maintenance

Les revenus des pièces de maintenance et de remplacement ont totalisé 6,7 millions de dollars au cours de l'exercice 2023.

Type de contrat	Revenus ($ m)
Contrats de maintenance standard	4.3
Services de garantie prolongés	2.4

Licence technologique et revenus de la propriété intellectuelle

Les licences de propriété intellectuelle et de technologie ont généré 2,1 millions de dollars de revenus pour 2023.

• Accords de licence de brevet: 1,4 million de dollars
• Frais de transfert de technologie: 0,7 million de dollars

Répartition totale des revenus pour l'exercice 2023:

Flux de revenus	Montant ($ m)
Ventes de produits	148.3
Services d'ingénierie personnalisés	8.5
Consultation technique	3.2
Pièces d'entretien et de remplacement	6.7
Licence de technologie	2.1
Revenus totaux	168.8

Richardson Electronics, Ltd. (RELL) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Richardson Electronics, Ltd. (RELL) brings to its customers as of late 2025. These aren't just abstract ideas; they are backed by specific operational data and market penetration figures.

Engineered solutions that improve system efficiency and reliability for industrial OEMs

Richardson Electronics, Ltd. provides engineered solutions where they design and manufacture approximately 50% of the products sold across their power, microwave, and imaging solutions segments. This capability is supported by value-added services including design-in support, system integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair. The company finished the trailing twelve months ending August 30, 2025, with total revenue of $209.79 million.

Patented ULTRA3000®: a drop-in replacement for wind turbine pitch batteries with longer life

The ULTRA3000® Pitch Energy Module (PEM) is an ultracapacitor-based drop-in replacement for traditional lead-acid batteries in GE wind turbine pitch systems, specifically compatible with GE 20 & 30 Nm pitch systems. This technology is engineered for a lifetime exceeding 15 years and can handle over 1 million charge-discharge cycles. Richardson Electronics, Ltd. has achieved a milestone of installing over 50,000 ULTRA3000 PEMs in North America. This single retrofit effort is estimated to eliminate 250,000 toxic lead-acid batteries and save 3,300 tons of carbon dioxide ($\text{CO}_2$). The Green Energy Solutions (GES) segment, which houses this product, saw sales surge 84% year-over-year in Q2 FY2025, and posted a 14.1% sales rise in Q4 FY2025.

Here's a quick look at the performance metrics tied to this value proposition:

Metric	Value/Range	Context
Estimated Lifetime	Exceeding 15 years	ULTRA3000 PEM operational life
Charge-Discharge Cycles	Over 1 million	Demonstrates reliability over battery replacements
Units Installed (Cumulative)	Over 50,000	North America's largest retrofit milestone
GES Sales YoY Growth (Q2 FY25)	129.0%	Indicates strong initial adoption/demand

Custom, high-reliability display solutions (Canvys) for medical and industrial applications

Canvys operates as a global value-added integrator and manufacturer, creating visual technology solutions for Original Equipment Manufacturers (OEMs). You should note the recent positive momentum here, as Canvys sales increased by $2.6 million, or 39.5% year-over-year, in Q3 FY2025, driven by improved North American market conditions. The segment also posted a 9.1% sales increase in Q4 FY2025. However, the gross margin for Canvys decreased to 30.9% in Q1 FY2026 from 34.3% in Q1 FY2025, primarily due to product mix and higher freight costs.

Single-source global supply chain for power and microwave components

This capability is centered in the Power and Microwave Technologies Group (PMT), which benefits significantly from demand in the semiconductor wafer fab equipment market. In Q3 FY2025, PMT sales grew by 6.6%, or $2.1 million, year-over-year, largely due to this semiconductor demand. The semiconductor wafer fab business alone saw sales surge by 139% in that same quarter. Management has anticipated that this specific business could generate over $40 million in revenue for FY2025. PMT sales continued this strong performance, growing 17.8% in Q4 FY2025.

The overall financial health supports this global supply chain strategy:

• Cash and Cash Equivalents as of August 30, 2025: $35.7 million.
• Net Cash Position (TTM): $33.63 million.
• Annual Revenue for Fiscal Year 2025 (ending May 31, 2025): $208.91 million.

Technical expertise and aftermarket service for complex equipment like CT tubes

While Richardson Electronics, Ltd. has strategically sold the majority of its Healthcare assets in January 2025, the value proposition of servicing complex equipment remains through specific agreements. The company maintains a 10-year service agreement for Siemens CT tubes. Following the asset sale, Healthcare sales decreased by $1.0 million, or 32.3%, in Q3 FY2025. The company generated $1.0 million in operating income in Q1 FY2026, up from $0.3 million in Q1 FY2025, showing improved profitability as the portfolio shifts away from the divested segment.

Finance: draft 13-week cash view by Friday.

Richardson Electronics, Ltd. (RELL) - Canvas Business Model: Customer Relationships

You're looking at how Richardson Electronics, Ltd. (RELL) builds and maintains its connections with the market, which is clearly rooted in deep technical engagement rather than just transactional sales. This relationship model supports their specialized, high-value engineered solutions.

Dedicated technical sales support and design-in assistance (Assisted Sales)

The company supports its value proposition with a significant internal technical resource base. Out of a total of over 440 employees, more than half are dedicated to sales, engineering, and product management functions, which directly feeds into design-in support for customers. This structure helps them provide specialized technical expertise alongside their components and systems. This focus on technical partnership is crucial for their Power and Microwave Technologies Group (PMT) and Green Energy Solutions (GES) segments, which saw sales growth of 17.8% and 14.1% respectively in Q4 2025.

Long-term, contractual service agreements for critical equipment

For critical equipment, Richardson Electronics, Ltd. (RELL) employs agreements that are typically long term. These contracts usually include provisions allowing either party to terminate if there are significant, uncured breaches. This structure underpins the stability of their service revenue, which supports a business with annual net sales of $208.9 million for fiscal year 2025. The company maintains a strong foundation for future business, with a backlog at the end of fiscal year 2025 reported at $33.9 million.

Co-creation of engineered solutions with key customers and technology partners

Richardson Electronics, Ltd. (RELL) explicitly states its strategy is to provide specialized technical expertise and "engineered solutions" based on core engineering and manufacturing capabilities. This involves co-creation through system integration, prototype design and manufacturing, and testing, often in collaboration with technology partners. For instance, the company has entered strategic technology partnerships to ensure global competitiveness, which is vital as they expand Green Energy Solutions into Europe and Asia.

Focus on long-term viability and defintely respecting every interaction

The stated philosophy for Richardson Electronics, Ltd. (RELL) is a focus on long term viability for the company, its community, and the world. This translates operationally into a commitment that every interaction is important and deserving of respect. This ethos is intended to build the trust reflected in their customer base of over 20,000 OEM and end-user customers globally.

Aftermarket technical service and repair through global infrastructure

Value is added through comprehensive aftermarket technical service and repair, which is delivered through a global infrastructure. Richardson Electronics, Ltd. (RELL) operates with 60+ locations worldwide, maintaining legal entities in 24 countries. This infrastructure supports customers across diverse markets including healthcare, aviation, broadcast, communications, and semiconductor manufacturing.

Here's a quick look at the scale of the customer-facing structure as of late 2025:

Metric	Value/Amount	Context/Source Year
Total Global Customers	Over 20,000	Current Customer Base
Global Legal Entities	24 Countries	Global Infrastructure
Total Employees in Sales/Engineering/Product Mgmt	Over half of 440+	Technical Support Capacity
FY 2025 Annual Net Sales	$208.9 million	Overall Business Scale
Backlog at End of FY 2025	$33.9 million	Indication of Future Commitments
Largest Single Customer Sales (FY 2023)	$31.2 million (12% of Net Sales)	Customer Concentration Data

The company's commitment to technical depth is evident in how they structure their personnel. You can see the emphasis on engineering support in the breakdown of their operational focus:

• Design-in support for engineered solutions.
• Systems integration and prototype design/manufacturing.
• Testing, logistics, and global repair services.
• Long-term agreements for critical equipment.

Finance: draft the service revenue component of the Q2 FY2026 forecast by Friday.

Richardson Electronics, Ltd. (RELL) - Canvas Business Model: Channels

You're looking at how Richardson Electronics, Ltd. gets its engineered solutions and products to market. It's a mix of direct technical sales and a wide physical and digital footprint. Honestly, for a company focused on specialized tech, the channel strategy has to be deep, not just wide.

Direct sales force of degreed engineers for complex engineered solutions

The core of selling complex engineered solutions relies on technical expertise right at the point of contact. Richardson Electronics, Ltd. supports this with a significant internal team. Over half of their 440+ employees are dedicated to sales, engineering, and product management, providing the necessary design-in support and systems integration for customers.

Global network of 60+ facilities for local support and logistics

Richardson Electronics, Ltd. maintains a substantial global infrastructure to handle logistics and local technical service and repair. This network is key for aftermarket support across their diverse customer base.

• Global reach includes legal entities in 24 countries.
• The network comprises 60+ locations worldwide.
• Key manufacturing locations include LaFox, Illinois, Marlborough, Massachusetts, and Donaueschingen, Germany.

Here's a quick look at the scale of their physical presence and manufacturing base as of their July 2025 filings:

Metric	Value	Context
Total Global Locations	60+	Facilities for local support and logistics.
Legal Entities	24	Countries where Richardson Electronics, Ltd. has a legal entity.
US Manufacturing Footprint	250,000 sq. ft.	Size of the state-of-the-art manufacturing facility in the USA.
Percentage of Products Manufactured In-House (US/Germany)	More than 55%	Products manufactured in LaFox, Marlborough, or Donaueschingen.

This infrastructure helps them provide value through testing, logistics, and aftermarket technical service.

Strategic distribution partners like IPS for specific product lines (e.g., ULTRA3000®)

For specific product lines, Richardson Electronics, Ltd. uses strategic partners to expand market penetration, especially in the Green Energy Solutions sector. For instance, they partnered with Integrated Power Services (IPS) in North America to supply and install their patented ULTRA3000® pitch energy module.

The ULTRA3000® unit, a drop-in replacement for lead-acid batteries in wind turbine pitch systems, is a major focus. Richardson Electronics, Ltd. secured two multi-million dollar production contracts for these units in late 2024, with expected shipments throughout calendar year 2025.

Online presence and investor relations for financial communication

The company communicates its financial performance and strategy through regular investor relations activities, including conference calls accessible via webcast. They announced the conference call for their Q1 Fiscal Year 2026 results on October 8, 2025, following the Q4 Fiscal Year 2025 results call on July 23, 2025. This digital channel serves their global customer base, which numbers over 20,000 OEM and end-user customers worldwide.

Richardson Electronics, Ltd. (RELL) - Canvas Business Model: Customer Segments

You're looking at the core groups Richardson Electronics, Ltd. (RELL) serves, which directly map to their business unit performance as of the end of fiscal year 2025. This is where the money is actually coming from.

The Green Energy Solutions (GES) segment, which heavily targets global wind farm owners and operators, saw significant financial growth in fiscal year 2025. GES sales reached $28.7 million for the full year, marking a substantial 23.6% increase over fiscal year 2024. For the fourth quarter specifically, GES sales increased by 14.1%, driven by pitch energy modules and related wind energy products. The segment maintained a strong book-to-bill ratio of 1.25 for the full year, showing strong future demand visibility.

The Power and Microwave Technologies Group (PMT) serves the semiconductor wafer fab equipment manufacturers, which is clearly the high-growth area. PMT sales for fiscal year 2025 totaled $137.8 million, which is a 7% year-over-year increase. The momentum was strong in the final quarter, with PMT sales rising 17.8% year-over-year, supported by continued strength in the semiconductor segment. The book-to-bill ratio for PMT in the fourth quarter was 1.03.

The Industrial OEMs in power conversion, welding, solar, and robotics are served primarily through the PMT segment, though specific revenue allocation isn't broken out beyond the semiconductor focus mentioned. The overall PMT segment's gross margin improved to 32.5% in Q4 FY2025 from 31.1% in Q4 FY2024, reflecting an improved product mix, which likely includes these industrial applications.

Medical device manufacturers and end-users requiring custom displays are served by the Canvys division. Canvys sales for the full fiscal year 2025 were $33.1 million, a 2.2% increase from $32.4 million in fiscal year 2024. However, the fourth quarter showed a 9.1% increase in sales, exceeding both plan and the prior year's performance for that quarter. Still, the gross margin for Canvys was noted as lower compared to the prior year's second quarter, which is something to watch.

The aviation, broadcast, military, and scientific markets for specialized components fall under the broader PMT umbrella, though the search results don't isolate their exact revenue contribution. The company as a whole designs and manufactures approximately 50% of the products it sells for power, microwave, and imaging solutions to industries worldwide. The total consolidated net sales for Richardson Electronics, Ltd. in fiscal year 2025 were $208.9 million, up 6.3% from the prior year.

Here's a quick look at how the major revenue-generating segments performed in FY 2025:

Customer Segment Focus Area	Business Unit	FY 2025 Net Sales (Millions USD)	Year-over-Year Growth Rate
Global wind farm owners/operators	GES	$28.7	23.6%
Semiconductor wafer fab equipment mfrs	PMT	$137.8	7%
Custom displays (Medical)	Canvys	$33.1	2.2%

The company supports over 20,000 OEM and end-user customers globally, operating with legal entities in 24 countries across 60+ locations. The strong backlog at the end of fiscal year 2025 stood at $33.9 million, providing a foundation for these customer segments moving into 2026. The cash position supporting these operations was $35.9 million at the end of FY 2025.

You should note the diversity in segment performance, which is key to understanding the customer base:

• GES sales growth in Q2 FY2025 was exceptionally high at 129% year-over-year.
• PMT sales growth in Q2 FY2025 was 9.9%, driven by semiconductor wafer fab customers.
• Canvys sales decreased by 6.0% in Q2 FY2025, though Q4 showed a rebound.
• Healthcare sales declined by 22.8% in Q2 FY2025, reflecting the sale of the majority of those assets in January 2025.

Finance: draft 13-week cash view by Friday.

Richardson Electronics, Ltd. (RELL) - Canvas Business Model: Cost Structure

The Cost Structure for Richardson Electronics, Ltd. (RELL) is heavily influenced by the nature of its business as a global manufacturer and distributor of engineered solutions, which inherently involves significant Cost of Goods Sold (COGS) related to components and production.

Significant cost of goods sold (COGS) due to manufacturing and component distribution

The cost associated with generating sales, which is the COGS, is reflected in the Gross Margin figures. For instance, in the first quarter of fiscal year 2026 (Q1 FY26), the consolidated Gross Margin was 31.0% of net sales. This margin reflects the costs of the components distributed and the manufacturing absorption for the products, which are designed and manufactured in facilities across the US and Germany, or by global partners. To be fair, the gross margin varied by segment; for example, the Green Energy Solutions (GES) gross margin was 29.6% in Q1 FY26.

Operating expenses of $16.0 million in Q1 FY26, controlled tightly

Operating expenses (OpEx) show a tight control, especially relative to sales growth. In the first quarter of fiscal year 2026, Operating Expenses were $16.0 million, a slight decrease from $16.1 million in the first quarter of fiscal year 2025. As a percentage of net sales, OpEx improved to 29.2% in Q1 FY26, down from 30.0% in Q1 FY25. For the entire fiscal year 2025, OpEx represented 29.8% of net sales. This focus on fixed cost management helped drive operating income to $1.0 million in Q1 FY26, up from $0.3 million the prior year.

Research and development investment in Green Energy Solutions (GES)

RELL continues to invest in engineering and manufacturing resources to develop its power management and green energy storage solutions. The company has explicitly stated it is investing in additional field engineers and R&D resources, with some funding coming from the sale of its healthcare parts business. This investment supports the development of next-generation battery energy storage systems.

Costs associated with maintaining a global infrastructure and specialized workforce

Maintaining the global infrastructure is a key cost driver. Richardson Electronics, Ltd. operates with global operations spanning 60+ locations and legal entities in 24 countries. Furthermore, a planned expansion in La Fox, Illinois, involves a capital investment of more than $8.5 million over the next four years, which is intended to enhance operations and create 54 new full-time positions while retaining nearly 200 jobs. This highlights the ongoing cost of supporting a specialized, global workforce and manufacturing footprint.

Capital expenditures of $0.5 million in Q2 FY25 for facilities and IT systems

Capital spending is directed towards maintaining and improving core assets. In the second quarter of fiscal year 2025 (Q2 FY25), Capital Expenditures (CapEx) totaled $0.5 million, primarily for facilities and IT systems, a significant reduction from $1.5 million spent in Q2 FY24. More recently, in Q1 FY26, CapEx was $1.0 million, focused on manufacturing, facilities improvements, and IT systems.

Here are some key financial metrics that inform the cost structure:

Metric	Amount/Percentage	Period	Source Reference
Operating Expenses	$16.0 million	Q1 FY26
Operating Expenses (% of Sales)	29.2%	Q1 FY26
Gross Margin	31.0%	Q1 FY26
Capital Expenditures	$0.5 million	Q2 FY25
Capital Expenditures	$1.0 million	Q1 FY26
Planned Capital Investment (REV Illinois)	Over $8.5 million (over four years)	Announced Aug 2025

The cost structure is managed through a focus on controlling SG&A (Selling, General, and Administrative) levels and improving gross margin through a more profitable sales mix.

• Investment in engineering and manufacturing resources for GES.
• Costs associated with global infrastructure across 60+ locations.
• Costs tied to specialized workforce, including planned creation of 54 new jobs.
• Costs related to component distribution, impacting gross margin.

Finance: draft 13-week cash view by Friday.

Richardson Electronics, Ltd. (RELL) - Canvas Business Model: Revenue Streams

You're looking at the revenue generation engine for Richardson Electronics, Ltd. as of late 2025, based on the most recent quarterly snapshot. The top line shows continued momentum, marking the fifth consecutive quarter of year-over-year sales growth.

For the first quarter of fiscal year 2026 (Q1 FY26), Richardson Electronics, Ltd. reported consolidated net sales of $54.6 million. This figure represents a 1.6% increase from the $53.7 million reported in the prior year's first quarter. If you look past the divested healthcare business, which saw the majority of its assets sold in January 2025, the underlying net sales growth was 6.8% year-over-year. The trailing twelve months (TTM) revenue ending August 30, 2025, stood at $209.79M.

The revenue streams are clearly segmented across the Power & Microwave Technologies (PMT) Group, Canvys, and Green Energy Solutions (GES). Here's how those streams performed in Q1 FY26:

Revenue Stream / Segment	Q1 FY26 Net Sales Change (YoY)	Key Driver / Detail
Power & Microwave Technologies (PMT)	2.8% overall growth	Driven by a 52.2% year-over-year increase in semiconductor wafer fab net sales. PMT sales excluding healthcare grew 10.5%.
Canvys (Custom Display Solutions)	8.3% growth	Reflecting improved market conditions in Europe.
Green Energy Solutions (GES)	-10.2% decrease	Attributed to the non-recurrence of a large electric vehicle locomotive order.

The strength in the PMT segment, particularly from semiconductor wafer fab customers, is a major component of the current revenue mix. The company also generated $1.0 million of operating income in the quarter, more than tripling the $0.3 million from Q1 FY25. The total backlog at the end of Q1 FY26 was $134.7 million.

Revenue from aftermarket service, repair, and spare parts is embedded within the segment results, though the dedicated healthcare aftermarket component is reduced following the January 2025 asset sale. The company declared a quarterly cash dividend of $0.06 per common share. Cash and cash equivalents on the balance sheet at the end of the quarter were $35.7 million.

You can see the gross margin contribution from each area, which affects the quality of the revenue:

• PMT Gross Margin: 31.3%, up from 30.1%.
• GES Gross Margin: 29.6%, up from 29.4%.
• Canvys Gross Margin: 30.9%, down from 34.3%.

The consolidated gross margin for the quarter was 31.0% of net sales, an improvement from 30.6% in the prior year's first quarter.