M-tron Industries Inc. 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 (Exact Name of Registrant as Specified in Its Charter) Securities registered pursuant to Section12(b) of the Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of "large accelerated filer,""accelerated filer,""smaller Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of April 30, 2025, the registrant had2,917,329shares of common stock, $0.01 par value per share, outstanding. M-TRON INDUSTRIES, INC.Form 10-Q for the Period EndedMarch 31, 2025 INDEX PART I.FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)Condensed Consolidated Statements of Operations Condensed Consolidated Balance SheetsCondensed Consolidated Statements of EquityCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial Statements1.Background and Description of Business2.Summary of Significant Accounting Policies3.Segment Information4.Related Party Transactions5.Income Taxes6.Revolving Credit Agreement7.Stock-Based Compensation8.Stockholders' Equity9.Earnings per Share ("EPS")10.Commitments and Contingencies11.Other Financial Statement Information12.Domestic and Foreign Revenues13.Subsequent Events Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations Item 3.Quantitative and Qualitative Disclosures About Market Risk PART II.OTHER INFORMATIONItem 1.Legal ProceedingsItem 5.Other InformationItem 6.ExhibitsSignatures Table of Contents Cautionary Note Concerning Forward-Looking Statements Certain statements contained in this Quarterly Report on Form 10-Q of M-tron Industries, Inc. ("Mtron" or the "Company") andthe Company's other communications and statements, other than historical facts, may be considered forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of theSecurities Exchange Act of 1934, as amended (the "Exchange Act"). The Company intends for all such forward-looking statementsto be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act andSection 21E of the Exchange Act, as applicable by law. Such statements include, in particular, statements about the Company'sbeliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are subject to significant risksand uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. The words"may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "target," "goal," and similarexpressions are intended to identify forward-looking statements. All forward-looking statements, by their nature, are subject to M-tron Industries, Inc.Condensed ConsolidatedBalance Sheets(Unaudited) March 31, 2025December 31, 2024 Assets: Cash and cash equivalents$13,662$12,641Accounts receivable, net of reserves of $201and $182, respectively6,7186,842Inventories, net9,3659,509 Stockholders' equity: M-tron Industries, Inc.Condensed ConsolidatedStatements of Cash Flows Table of Contents M-tron Industries, Inc.Notes to the Condensed Consolidated Financial Statements (Unaudited)(Dollar amounts in thousands, unless otherwise stated) 1.Background and Description of Business Originally founded in1965,M-tron Industries, Inc. (the "Company," "Mtron," "we," "us," or "our") is engaged in the designing,manufacturing and marketing of highly engineered, high reliability frequency and spectrum control products used to control the Our component-level devices and modules are used extensively in electronic systems for applications in commercial and militarydefense, aerospace, satellites, down-hole drilling, medical devices, instrumentation, industrial devices and in infrastructureequipment for the telecommunications and n