M-tron Industries Inc 2025年季度报告

For the transition period from ____________ to ____________ Commission File No.001-41391 (Exact Name of Registrant as Specified in Its Charter)Delaware46-0457944(State or Other Jurisdiction of Incorporation or Organization)(I.R.S. Employer Identification No.)2525 Shader Rd.,Orlando,Florida32804(Address of principal executive offices)(Zip Code) 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 reporting company,"and "emerging growth company"in Rule 12b-2 of the Exchange Act.Large accelerated filerNon-accelerated filer 13.Subsequent Events Management’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskControls and ProceduresOTHER INFORMATIONLegal ProceedingsOther InformationExhibitsSignatures to 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 risks (in thousands)Balance at December 31, 2024 Net income———1,630Stock-based compensation expense——249—Exercise of stock options————Balance at March 31, 2025$—$28$20,156$12,967$ (in thousands)PreferredStockCommonStockAdditionalPaid-inCapitalRetainedEarningsTotal EquityBalance at December 31, 2023$—$27$16,167$3,701$ Balance at March 31, 2024$—$27$16,501$5,187$See accompanying Notes to the Condensed Consolidated Financial Statements. (in thousands, except share data) Net incomeAdjustments to reconcile net income to net cash provided by operating activities: Noncash revenues, expenses, gains and losses included in income:Depreciation250Amortization of finite-lived intangible assets— Deferred income tax provisionChanges in operating assets and liabilities: Increase in accounts receivable, net124Increase in inventories, net144Decrease in prepaid expenses and other assets68 Cash flows from investing activities:Capital expenditures Net cash used in investing activitiesCash flows from financing activities:Proceeds from stock option exercise Net cash provided by financing activitiesIncrease in cash and cash equivalents Cash and cash equivalents at beginning of period12,641Cash and cash equivalents at end of period$13,662$Supplemental Disclosure: Cash paid for income taxes$23$See accompanying Notes to the Condensed Consolidated Financial Statements. 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 thefrequency or timing of signals in electronic circuits in various applications. Mtron's primary markets are defense, aerospace, space,and avionics.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 network equipment industries. As an engineering-centric company, Mtronprovides frequency oven-controlled crystal oscillators ("OCXO"), integrated phase-locked loops OCXOs, temperature-compensated crystaloscillators, voltage-controlled crystal oscillators, low jitter and harsh environment oscillators; crystal resonators, Integrated Microwave Assemblies ("IMA"); and state-of-the-art solid state power amplifier products. The Company has manufacturing facilities in Orlando, Florida; Yankton, South Dakota; and Noida, India. The Company also has asales office in Hong Kong. All of Mtron’s production facilities are International Organization for Standardization ("ISO")9001:2015certified (the international standard for creating a quality management system)and Restriction of Hazardous Substances("RoHS") compliant. In addition, its U.S. production facilities in Orlando and Yankton are International Traffic in ArmsRegulations ("ITAR") registered and International Aerospace Quality GroupAS9100Rev Dcertified and our Yankton production Internet address is www.mtron.com. Our common stock and warrantsaretraded on the NYSE American under the symbols"MPTI" and "MPTI WS," respectively. 2.Summary of Significant Accounting Policies These unaudited CondensedConsolidatedFinancial Statements donotinclude all disclosures that are normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP")andshould be read in conjunction with the audited Consolidated and C