FEIMMEDIUM SIGNALOPERATIONAL10-K

Frequency Electronics completed organizational restructuring while achieving solid revenue growth of 26% amid substantially higher R&D investment.

The language changes suggest FEIM has completed its multi-year consolidation of FEI-Elcom operations and clarified its operational structure, with the CODM role shifting from CEO measurement to a more formal designation. The company appears to be investing heavily in future capabilities through meaningfully expanded R&D spending, which could position it well for growth in precision timing technology markets.

Comparing 2025-07-18 vs 2024-08-02View on EDGAR →
FINANCIAL ANALYSIS

FEIM delivered strong operational performance with revenue growing 26% to $69.8M and gross profit expanding substantially to $30.1M, indicating improved operational leverage. However, the company significantly increased R&D investment to $6.1M while cash declined notably from $18.3M to $4.7M, suggesting management is prioritizing growth investments over cash preservation. The overall financial picture shows a company in transition, with stronger profitability but tighter liquidity as it funds expansion initiatives.

FINANCIAL STATEMENT CHANGES
R&D Expense
P&L
+79.8%
$3.4M→$6.1M

R&D investment increased 79.8% — signals commitment to future product development, though near-term margin impact.

Cash & Equivalents
Balance Sheet
-74.2%
$18.3M→$4.7M

Cash declined 74.2% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Gross Profit
P&L
+62%
$18.6M→$30.1M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Stockholders Equity
Balance Sheet
+39.7%
$39.8M→$55.6M

Equity base grew 39.7% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Accounts Receivable
Balance Sheet
+28.2%
$4.6M→$5.9M

Receivables grew 28.2% — monitor days sales outstanding for collection efficiency.

Revenue
P&L
+26.3%
$55.3M→$69.8M

Revenue growing 26.3% — solid top-line momentum, watch margins for quality of growth.

Current Liabilities
Balance Sheet
-23.8%
$30.8M→$23.5M

Current liabilities reduced — improved short-term financial position and working capital health.

Capital Expenditure
Cash Flow
+21.2%
$1.5M→$1.8M

Capex increased 21.2% — ongoing investment in capacity or infrastructure for future growth.

SG&A Expense
P&L
+20.7%
$10.2M→$12.3M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

Total Assets
Balance Sheet
+12.6%
$83.3M→$93.7M

Asset base grew 12.6% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2025-07-18
PRIOR — 2024-08-02
ADDED
(sometimes referred to as Registrant , Frequency Electronics or the Company ) is a world leader in precision time and frequency generation technology, which is incorporated into commercial and U.S.
Government satellites, Command, Control, Communication, Computer, Intelligence, Surveillance and Reconnaissance ( C4ISR ), and Electronic Warfare ( EW ) systems.
satellites with varying remaining useful lives operating in Geostationary, Medium and Low Earth Orbits ( LEO ).
These products are designed and manufactured at the Company s Long Island, New York headquarters facility.
FEI-Zyfer Precision time references for terrestrial secure communications and command and control, and frequency products that incorporate GPS technology are manufactured by FEI-Zyfer.
+7 more — sign up free →
REMOVED
(sometimes referred to as Registrant , Frequency Electronics or the Company ) is a world leader in precision time and frequency generation technology, which is incorporated into commercial and Government Satellites, Command, Control, Communication, Computer, Intelligence, Surveillance and Reconnaissance ( C4ISR ), and Electronic Warfare ( EW ) systems.
satellites with varying remaining useful lives operating in Geostationary, Medium and Low Earth Orbits.
military and commercial telecom customers, are designed and manufactured at the Company s Long Island, New York headquarters facility.
The Company began consolidating FEI-Elcom s manufacturing capabilities into its FEI-NY operations in 2020, in an effort to reduce costs and improve margin.
FEI-Zyfer Precision time references for terrestrial secure communications and command and control, and frequency products that incorporate GPS technology are manufactured by the Company s subsidiary, FEI-Zyfer.
+7 more — sign up free →
MORE OPERATIONAL SIGNALS
NVDAHIGHNVIDIA has repositioned itself from a "full-stack computing infrastructure compa...
2026-02-25
NVDAHIGHNVIDIA has repositioned itself from a "full-stack computing infrastructure compa...
2026-02-25
NOWHIGHServiceNow has fundamentally repositioned itself as an AI-first platform company...
2026-01-29
TSLAHIGHTesla has fundamentally repositioned itself from an electric vehicle company to ...
2026-01-29
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →