M-tron Industries, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>M-tron Industries, Inc. has filed its 2023 10-K annual report, detailing its financial performance and business operations.</b>

AI Summary

M-tron Industries, Inc. (MPTI) filed a Annual Report (10-K) with the SEC on March 25, 2024. M-tron Industries, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company is located at 2525 Shader Road, Orlando, FL 32804. The filing was made on March 25, 2024. The Standard Industrial Classification code is 3679 (Electronic Components, NEC). The company's IRS number is 460457994.

Why It Matters

For investors and stakeholders tracking M-tron Industries, Inc., this filing contains several important signals. This filing provides a comprehensive overview of M-tron Industries' financial health and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess performance. As a public company, M-tron Industries is required to disclose detailed financial information annually, offering transparency into its operations and market position within the electronic components sector.

Risk Assessment

Risk Level: low — M-tron Industries, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) with no immediate red flags or significant negative disclosures, indicating a routine update.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand M-tron Industries' current financial standing and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-03-25 — Filing Date (As of Date)
• 001-41391 — SEC File Number (SEC File Number)
• 0001902314 — Central Index Key (Central Index Key)

Key Players & Entities

• M-tron Industries, Inc. (company) — Filer name
• 2525 Shader Road (address) — Business and mailing address
• Orlando (location) — City for business and mailing address
• FL (location) — State for business and mailing address
• 32804 (postal_code) — ZIP code for business and mailing address
• 460457994 (tax_id) — IRS Number
• 3679 (sic_code) — Standard Industrial Classification
• DE (state) — State of Incorporation

FAQ

Industry Context

M-tron Industries operates within the Electronic Components, NEC (3679) sector, which involves the manufacturing and distribution of electronic components.

Regulatory Implications

As a publicly traded company, M-tron Industries is subject to the regulations of the Securities and Exchange Commission (SEC), requiring regular filings like the 10-K.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the business description and risk factors to understand the company's operations and potential challenges.
3. Examine any disclosures related to executive compensation or significant corporate events.

Year-Over-Year Comparison

This is the 2023 10-K filing, representing the company's annual performance update.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value MPTI NYSE American Secur
• $12,921,000 — 023, our largest customer accounted for $12,921,000, or 31.4%, of the Company's total reven
• $8,190,000 — e Company's total revenues, compared to $8,190,000, or 25.7%, of the Company's total reven
• $7,822,000 — r ended December 31, 2023 accounted for $7,822,000, or 19.0%, of the Company's total reven
• $4,857,000 — e Company's total revenues, compared to $4,857,000, or 15.3%, of the Company's total reven
• $3,774,000 — t customers accounted for approximately $3,774,000, or 76.4%, of accounts receivable. As o
• $2,872,000 — t customers accounted for approximately $2,872,000, or 53.8%, of accounts receivable. The
• $2,216,000 — . Research and development expense was $2,216,000 and $2,006,000 for the years ended Dece
• $2,006,000 — development expense was $2,216,000 and $2,006,000 for the years ended December 31, 2023 a
• $30,104,000 — c Revenues Our domestic revenues were $30,104,000 in 2023, or 73.1% of total consolidated
• $22,439,000 — otal consolidated revenues, compared to $22,439,000, or 70.5% of total consolidated revenue
• $11,064,000 — enues Our international revenues were $11,064,000 in 2023, or 26.9% of total consolidated
• $9,406,000 — otal consolidated revenues, compared to $9,406,000, or 29.5% of total consolidated revenue
• $47,831,000 — Order Backlog Our order backlog was $47,831,000 and $46,180,000 as of December 31, 2023
• $46,180,000 — Our order backlog was $47,831,000 and $46,180,000 as of December 31, 2023 and 2022, respe

Filing Documents

• mpti20221231_10k.htm (10-K) — 1024KB
• ex_572216.htm (EX-31.1) — 13KB
• ex_572217.htm (EX-31.2) — 13KB
• ex_572218.htm (EX-32.1) — 5KB
• ex_572219.htm (EX-32.2) — 5KB
• ex_628201.htm (EX-97.1) — 20KB
• 0001437749-24-009243.txt (&nbsp;) — 5503KB
• mpti-20231231.xsd (EX-101.SCH) — 47KB
• mpti-20231231_cal.xml (EX-101.CAL) — 41KB
• mpti-20231231_def.xml (EX-101.DEF) — 329KB
• mpti-20231231_lab.xml (EX-101.LAB) — 296KB
• mpti-20231231_pre.xml (EX-101.PRE) — 362KB
• mpti20221231_10k_htm.xml (XML) — 811KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 18 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 23 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 24 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 44 Item 9A.

Controls and Procedures

Controls and Procedures. 44 Item 9B. Other Information . 45 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection s 45 PART III Item 10. Directors, Executive Officers and Corporate Governance. 46 Item 11.

Executive Compensation

Executive Compensation. 46 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 46 Item 13. Certain Relationships and Related Transactions, and Director Independence. 46 Item 14. Principal Accountant Fees and Services. 46 PART IV Item 15. Exhibits and Financial Statement Schedules. 47 Item 16. Form 10-K Summary. 48 Table of Contents PART I Caution Concerning Forward-Looking Statements This annual report on Form 10-K (this "Report") and the Company's (as defined below) other communications and statements may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements about the Company's beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. The words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "target," "goal," and similar expressions are intended to identify forward-looking statements. All forward-looking statements, by their nature, are subject to risks and uncertainties. The Company's actual future results may differ materially from those set forth in the Company's forward-looking statements. For information concerning these factors and related matters, see "Risk Factors" in Part I, Item 1A in this Report, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 in this Report. However, other factors besides those referenced could adversely affect the Company's results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. Any forward-looking statements made by the Company herein speak as of

View Full Filing

View this 10-K filing on SEC EDGAR