LSI Industries Inc 2026年季度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, DC20549 FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2025, OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 FOR THE TRANSITION PERIOD FROM ________________ TO ________________. Commission File No. 0-13375 Securities registered pursuant to Section 12(b) of the Act: Indicate by checkmark whether the registrant:(1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports) and (2) has been subject to such filing requirements for the past 90 days.YES☒NO☐ Indicate by checkmark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files).YES☒NO☐ Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting 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 filer☐Accelerated filer☒Emerging growth company☐Non-accelerated filer☐Smaller reporting company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct. Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YES☐NO☒ As of January 30, 2026, there were 31,133,195 shares of the registrant's common stock, no par value per share, outstanding. LSI INDUSTRIES INC.FORM 10-QFOR THE QUARTER ENDED DECEMBER 31, 2025INDEXPART I. FINANCIAL INFORMATION3ITEM 1.FINANCIAL STATEMENTS3CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS3CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME4CONDENSED CONSOLIDATED BALANCE SHEETS5CONDENSED CONSOLIDATED BALANCE SHEETS6CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDER’S EQUITY7CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS8NOTES TOCONDENSED CONSOLIDATED FINANCIAL STATEMENTS9ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS23ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK32ITEM 4.CONTROLS AND PROCEDURES32PART II. OTHER INFORMATION33ITEM 5.OTHER INFORMATION33ITEM 6.EXHIBITS33SIGNATURES34Page 2 PART I.FINANCIAL INFORMATION ITEM 1.FINANCIAL STATEMENTS LSI INDUSTRIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited) LSI INDUSTRIES INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(Unaudited) LSI INDUSTRIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) LSI INDUSTRIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) LSI INDUSTRIES INC. CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY(Unaudited) LSI INDUSTRIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) LSI INDUSTRIES INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE 1-INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The interim condensed consolidated financial statements are unaudited and are prepared in accordance with accounting principlesgenerally accepted in the United States of America for interim financial information, and rules and regulations of the Securities andExchange Commission.Certain information and footnote disclosures normally included in financial statements prepared inaccordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations.In the opinion of management, the interim financial statements include all normal adjustments and disclosures necessary to presentfairly the Company’s financial position as of December 31, 2025, the results of its operations for the three and six-month periodsended December 31, 2025, and 2024, and its cash flows for the six-month periods ended December 31, 2025, and 2024. Thesestatements should be read in conjunction with the financial statements and footnotes included in the fiscal 2025 Annual Report onForm 10-K.Financial information as of June 30, 2025, has been derived from the Company’s audited consolidated financialstatements. NOTE 2-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation: A summary of the Company’s significant accounting policies is included in Note 1 to the audited consolidated financial statementsof the Company’s fiscal 2025 Annual Report on Form 10-K. Revenue Recognition: The Company recognizes revenue when it sat