M-tron Industries, Inc. reported a revenue increase of 12.5% for the second quarter of 2025, reaching $13.3 million compared to $11.8 million in the same period of 2024. For the first half of 2025, revenues totaled $26.0 million, up 13.1% from $23.0 million in the prior year. Despite the revenue growth, the company experienced a decline in net income, which fell to $1.6 million for the second quarter, down 10.6% from $1.7 million in 2024. For the six-month period, net income decreased slightly to $3.2 million from $3.3 million in the previous year.
The increase in revenues was primarily attributed to strong demand for defense program products and solutions. However, total costs and expenses also rose significantly, increasing by 17.9% to $11.4 million in the second quarter, driven by an 18.8% rise in manufacturing costs and a 16.3% increase in engineering, selling, and administrative expenses. The gross margin decreased from 46.6% to 43.6% year-over-year, reflecting the impact of higher production costs and tariffs on materials.
Operationally, M-tron reported a backlog of $61.2 million as of June 30, 2025, marking a 29.6% increase from $47.2 million at the end of 2024. This growth in backlog indicates a strong pipeline of orders, particularly in the aerospace and defense sectors. The company also noted an increase in cash and cash equivalents, which rose to $15.5 million from $12.6 million at the end of 2024, reflecting improved cash flow from operations.
Looking ahead, M-tron remains focused on managing its working capital efficiently and investing in growth opportunities, including new product development. The company is also monitoring the potential impacts of tariffs on its operations and is exploring avenues to mitigate these effects. M-tron’s management expressed confidence in the company’s ability to navigate market conditions and capitalize on its strong order backlog to drive future growth.
About M-tron Industries, Inc.
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