Mtron announced its financial results for the second quarter ended June 30, 2025, reporting revenues of $13.3 million. This represents a 12.5% increase compared to $11.8 million in the second quarter of 2024, primarily driven by continued strong defense program product and solution shipments. For the six months ended June 30, 2025, revenue increased by 13.1% to $26.0 million from $23.0 million in the prior year.
The company's backlog significantly increased to $61.2 million as of June 30, 2025, up from $47.2 million at December 31, 2024, and $45.3 million a year prior. This growth reflects broad demand for Mtron's products, including continued purchasing under large aerospace and defense programs, new program orders, and an uptick in avionics and space industry orders. Adjusted EBITDA for Q2 2025 was $2.4 million, a slight decrease from $2.5 million in Q2 2024.
Despite revenue and backlog growth, net income for Q2 2025 decreased by 10.6% to $1.6 million, or $0.53 per diluted share, compared to $1.7 million, or $0.63 per diluted share, in Q2 2024. Gross margin also declined to 43.6% from 46.6% in the prior-year quarter. This decrease was primarily attributed to product mix and the ongoing impact of tariffs, partially offset by higher revenues. Increased investments in research and development and higher administrative expenses also contributed to the net income decrease.
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