R F INDUSTRIES LTD

Listed Company

RFILCIK 0000740664NasdaqNon-AcceleratedSmaller ReportingElectronic ConnectorsNevadaFY ends Oct 31

Period

FY 2025

Revenue

—

Net Income

$75.0K

Total Assets

$73.05M

Equity

$35.20M

Shares Out

10.81M

Op. Cash Flow

$4.58M

Business

R F INDUSTRIES LTD is a national manufacturer and marketer of interconnect products and systems serving telecommunications, wireless and network infrastructure carriers and OEMs. It designs, engineers, manufactures and sells RF connectors and adapters, dividers, couplers, filters, coaxial and data cables, fiber and hybrid cabling, custom cable assemblies, wire harnesses, energy‑efficient cooling systems and integrated small cell enclosures. The company operates two reporting segments: RF Connector and Cable Assembly (including Microlab) and Custom Cabling Manufacturing and Assembly (Cables Unlimited, Rel‑Tech, Schrofftech). It distributes primarily in the United States through independent distributors and direct sales to carriers, OEMs and national telecommunication providers, with modest exports, notably to Canada.

Summary from filing dated 2025-01-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Net sales	81	65	72	72	57
Cost of sales	54	46	53	53	40
Gross profit	27	19	20	20	18
Engineering	3	3	3	3	1
Selling and general	22	19	20	20	12
Total operating expenses	25	22	23	23	13
Operating income (loss)	2	−3	−4	−4	4
Other expense	−972,000	−980,000	−453,000	−453,000	3
Income (loss) before provision (benefit) for income taxes	813,000	−4	−4	−4	7
Provision for income taxes	700,000	3	−1	−1	1
Consolidated net income (loss)	75,000	−7	−3	−3	6
Basic (in dollars per share)	0.01	−0.63	−0.3	−0.3	0.62
Diluted (in dollars per share)	0.01	−0.63	−0.3	−0.3	0.61
Basic (in shares)	11	10	10	10	10
Diluted (in shares)	11	10	10	10	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash and cash equivalents	5	839,000	5	5	13
Trade accounts receivable, net of allowance for credit losses of $141 and $159, respectively	15	12	10	15	14
Inventories	14	15	19	21	11
Other current assets	1	1	2	6	3
TOTAL CURRENT ASSETS	35	29	36	46	41
Equipment and tooling	5	5	5	4	4
Furniture and office equipment	6	6	6	3	1
Property, Plant and Equipment, Gross	11	11	10	8	5
Less accumulated depreciation	7	6	6	5	4
Total property and equipment, net	4	5	5	3	708,000
Operating lease right-of-use assets, net	14	15	16	13	1
Goodwill	8	8	8	8	2
Amortizable intangible assets, net	10	12	14	15	3
Non-amortizable intangible assets	1	1	1	1	1
Other assets	477,000	688,000	277,000	295,000	70,000
TOTAL ASSETS	73	71	82	90	50
Accounts payable	3	4	3	6	4
Accrued expenses	8	4	5	9	5
Line of credit	8	8	1	0	—
Current portion of operating lease liabilities	2	2	1	2	832,000
Income taxes payable	260,000	0	0	759,000	0
TOTAL CURRENT LIABILITIES	21	18	13	20	9
Operating lease liabilities	17	19	19	15	675,000
Deferred tax liabilities	247,000	210,000	0	—	—
TOTAL LIABILITIES	38	37	43	48	10
Common stock - authorized 20,000,000 shares of $0.01 par value; 10,713,801 and 10,544,431 shares issued and outstanding at October 31, 2025 and 2024, respectively	107,000	106,000	104,000	102,000	101,000
Additional paid-in capital	28	27	26	25	24
Retained earnings	7	7	14	17	15
TOTAL STOCKHOLDERS' EQUITY	35	34	40	42	40
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	73	71	82	90	50

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Bad debt expense	50,000	5,000	102,000	15,000	29,000
Depreciation and amortization	2	3	2	2	770,000
Gain on disposal of fixed assets	−12,000	0	—	—	—
Stock-based compensation expense	872,000	924,000	898,000	689,000	769,000
Amortization of debt issuance cost	173,000	113,000	9,000	6,000	0
Tax payments related to shares cancelled for vested restricted stock awards	−54,000	−21,000	−12,000	−21,000	−16,000
Deferred income taxes	37,000	3	−677,000	−1	445,000
Extinguishment of debt issuance cost	0	14,000	0	0	−3
Trade accounts receivable	−3	−2	4	1	−8
Inventories	990,000	4	2	−6	−3
Other current assets	146,000	706,000	4	−3	−2
Right-of-use assets	−358,000	355,000	1	3	−35,000
Other long-term assets	38,000	−1,000	18,000	225,000	−1,000
Accounts payable	−690,000	597,000	−2	1	2
Accrued expenses	3	−325,000	−4	3	2
Income taxes payable	260,000	0	−759,000	759,000	−43,000
Net cash provided by operating activities	5	3	4	3	−3
Proceeds from sale of fixed assets	12,000	0	—	—	—
Capital expenditures	−235,000	−738,000	−2	−3	−227,000
Net cash used in investing activities	−223,000	−738,000	−2	−27	−227,000
Proceeds from exercise of stock options	245,000	0	87,000	150,000	605,000
Debt issuance cost	0	−520,000	0	−32,000	0
Line of credit payments	−361,000	−44	−1	0	—
Line of credit draws	0	51	2	0	—
Term Loan payments	0	−13	−2	−1	0
Net cash used in financing activities	−116,000	−6	−1	16	605,000
Net increase (decrease) in cash and cash equivalents	4	−4	365,000	−9	−3
Supplemental cash flow information income taxes paid	194,000	64,000	642,000	−314,000	949,000
Supplemental cash flow information interest paid	889,000	883,000	529,000	—	—

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