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M-tron Industries Inc. (MPTI+0.53%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $49,012,000 for 2024, an increase from $41,168,000 in 2023. This growth was primarily driven by strong defense program product and solution shipments.
Total costs and expenses rose to $39,618,000 from $36,869,000 in the previous year, reflecting increased manufacturing costs and higher investment in research and development.
The company reported a gross margin of 46.2%, up from 40.7% in 2023, attributed to improved manufacturing efficiencies and a higher margin product mix.
Net income for 2024 was $7,636,000, compared to $3,489,000 in 2023, with the increase driven by higher revenues and improved gross margins.
Cash provided by operating activities was $7,521,000, up from $4,405,000 in 2023, due to higher net income and deferred income tax provision.
M-tron Industries ended the year with a cash balance of $12,641,000, up from $3,913,000 at the end of 2023, supported by strong operating cash flows and stock option exercises.
The company's order backlog stood at $47,239,000 as of December 31, 2024, a slight decrease from $47,831,000 in the previous year.
M-tron Industries operates in the Electronic Components segment and serves markets including aerospace, defense, space, and avionics.
The company continues to focus on developing new products and expanding its market presence, while managing costs and improving operational efficiencies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the M-tron Industries Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.