10-Q · May 13, 2026
M-tron Industries, Inc. reports a strong fourth quarter of 2026, with revenue rising to $14.7 million, a 15.3% increase from the prior year. EPS significantly beat expectations at $0.99 compared to an estimate of $0.65,…
Earnings analysis · 10-Q
MPTI earnings analysis
Filed August 12, 2026 · Our reading of the company's report
The latest report
M-tron reported Q2 revenue of $15.109 million, up 13.8% year over year and above the $14.76 million consensus estimate, while backlog rose 37.2% to $84.0 million and adjusted EBITDA increased 40.6% to $3.401 million.…
Read full summary
M-tron reported Q2 revenue of $15.109 million, up 13.8% year over year and above the $14.76 million consensus estimate, while backlog rose 37.2% to $84.0 million and adjusted EBITDA increased 40.6% to $3.401 million. However, gross margin fell to 41.2% from 43.6% a year earlier and 44.9% sequentially, while EPS declined to $0.43 and missed consensus by 24.6%. No quantitative forward guidance was provided, and the filing reported no additional material risk-factor changes.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.43
- Gross margin
- 41.2%
What stood out
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Revenue beat estimates and grew year over year
Q2 revenue was $15.109 million, up 13.8% year over year and approximately 0.7% sequentially from $15 million in Q1 2026. Revenue exceeded the $14.76 million consensus estimate by 2.4%.
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Adjusted EBITDA rose 40.6%
Adjusted EBITDA increased 40.6% year over year to $3.401 million, indicating solid earnings growth despite lower gross margin.
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Backlog reached $84.0 million
Backlog increased 37.2% year over year to $84.0 million, providing visibility into future demand.
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Disclosure controls remained effective
Disclosure controls and procedures were concluded to be effective as of June 30, 2026, and the filing reported no internal-control changes that materially affected or were reasonably likely to materially affect reporting.
What to watch
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Gross-margin compression
Gross margin declined to 41.2% from 44.9% in Q1 2026 and 43.6% in Q2 2025, a sequential decrease of 3.7 percentage points and a year-over-year decrease of 2.4 points. Management attributed part of the pressure to a $0.5 million stock-based compensation charge.
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EPS missed estimates and declined
Reported EPS was $0.43 versus $0.57 consensus, a 24.6% miss, and declined from $0.67 in Q1 2026 and $0.53 in Q2 2025.
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Ordinary-course litigation exposure
The filing states that the company may become subject to litigation or claims in the ordinary course, although it was not aware of material pending legal proceedings other than routine litigation as of the filing date.
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No new material risk factors disclosed
The filing identifies no additional material trends or uncertainties beyond those in the 2025 Form 10-K and current-quarter MD&A; therefore, no new material risk-factor changes were disclosed versus the prior annual report.
Management's outlook
No quantitative forward revenue or EPS guidance was provided. The filing states that no additional material trends or uncertainties were identified beyond those described in the 2025 Form 10-K and the current-quarter MD&A.
Earlier filings 4
10-K · March 26, 2026
M-tron reported full-year revenues of $54,417 (2025) versus $49,012 (2024) with a materially higher order backlog of $76,425 at December 31, 2025 (up from $47,239). The company emphasizes a strategy of moving to…
10-Q · November 13, 2024
MtronPTI reported a strong quarter: revenue of $13,214,000 in Q3 (up from $10,888,000 a year ago) with expanding gross margin to 47.8% and operating margin to 22.1%, driving diluted EPS of $0.81. Cash and liquidity…
10-Q · May 14, 2024
MtronPTI reported a strong Q1 ending March 31, 2024: revenue rose to $11,185,000 from $9,367,000 a year earlier (+19.4%), gross margin expanded to 42.8% and operating margin to 16.0%, driving net income of $1,486,000…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.