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PDEX

Pro-Dex, Inc.

PDEX

Pro-Dex, Inc. • NASDAQ
$36.44 ▼ -0.87% (-0.32)
Market Cap $118.86 M
52w High $70.26
52w Low $23.47
Dividend Yield 0%
P/E 10.98
Volume 9.91K
Outstanding Shares 3.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $18.53M ▲ $2.258M ▲ $4.68M ▲ 25.256% ▲ $1.43 ▲ $6.733M ▲
Q4-2025 $17.494M ▲ $2.146M ▼ $1.196M ▼ 6.837% ▼ $0.37 ▼ $3.61M ▼
Q3-2025 $17.414M ▲ $2.158M ▼ $3.275M ▲ 18.807% ▲ $1 ▲ $3.64M ▲
Q2-2025 $16.793M ▲ $2.38M ▲ $2.04M ▼ 12.148% ▼ $0.63 ▼ $3.103M ▼
Q1-2025 $14.892M $2.137M $2.466M 16.559% $0.76 $3.773M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $514K ▼ $64.298M ▲ $22.785M ▼ $41.513M ▲
Q4-2025 $7.159M ▼ $61.192M ▼ $24.56M ▼ $36.632M ▲
Q3-2025 $9.89M ▲ $64.273M ▲ $28.991M ▲ $35.282M ▲
Q2-2025 $4.737M ▼ $60.374M ▲ $28.552M ▲ $31.822M ▲
Q1-2025 $7.819M $54.308M $23.431M $30.877M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $4.68M ▲ $2.31M ▲ $-98K ▲ $-2.117M ▲ $95K ▲ $2.31M ▲
Q4-2025 $1.197M ▼ $-173K ▼ $-992K ▼ $-2.889M ▼ $-4.054M ▼ $-266K ▼
Q3-2025 $3.275M ▲ $754K ▲ $1.727M ▲ $1.926M ▲ $4.407M ▲ $574K ▲
Q2-2025 $2.04M ▼ $-4.15M ▼ $-542K ▼ $1.677M ▲ $-3.015M ▼ $-4.692M ▼
Q1-2025 $2.466M $1.887M $-431K $-1.006M $450K $1.456M

Revenue by Products

Product Q1-2013Q2-2013
Repairs
Repairs
 $0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Pro-Dex looks like a small but consistently profitable business with modest growth. Revenue has trended upward over the past few years, and the company has generally maintained healthy margins for its size. Operating profit has stayed positive, which suggests decent cost control and a focused product mix. Net income has been a bit bumpy, with one year close to break-even and a more recent year showing a very strong jump in earnings that likely reflects one-time gains from investments as well as the core business. Overall, the income statement points to a niche company that can make money, but with results that can swing from year to year.

Balance Sheet

Balance Sheet The balance sheet appears reasonably solid for a small healthcare manufacturer. Assets have grown gradually, and shareholders’ equity has steadily increased, which signals that the business has been building its capital base over time. Debt is present but not overwhelming relative to equity, suggesting a manageable level of financial leverage. The reported cash position looks quite lean, so the company may depend more on ongoing cash generation and credit arrangements than on a large cash cushion. In simple terms, the balance sheet looks sound but not overly conservative, with limited room for major missteps.

Cash Flow

Cash Flow Cash generation has been generally positive but not consistently strong. Operating cash flow has been modest and has dipped in some years, reflecting the lumpiness of both earnings and working capital needs in a project-driven business. Free cash flow has improved recently, helped by controlled investment spending, after earlier years where capital spending weighed more heavily on cash. This pattern suggests a business that usually funds itself from operations but doesn’t always produce a large surplus, so timing of large projects, customer orders, or investments can noticeably affect cash in any given year.

Competitive Edge

Competitive Edge Pro-Dex operates in a narrow but attractive niche: precision-powered surgical and dental instruments. Its competitive strength comes from deep engineering know-how, long operating history, and vertical integration from design through manufacturing and regulatory support. The company is embedded in long-term relationships with major medical device manufacturers, often on an exclusive basis, which creates switching costs and a sticky customer base. Regulatory approvals and quality certifications form additional barriers to entry. The flip side is customer concentration risk: relying heavily on a few large partners means that delays, redesigns, or contract changes at those customers can significantly impact results.

Innovation and R&D

Innovation and R&D Innovation is a clear focal point for Pro-Dex. The company develops specialized technologies such as patented torque-limiting software that helps surgeons avoid over-tightening screws, and proprietary sealing solutions that improve durability through repeated sterilization. It combines custom product development for large OEMs with its own branded products like powered surgical drivers and precision motors. Recent patents related to robotic surgery and intelligent instruments suggest an effort to stay ahead of industry trends. In addition, selective strategic investments in related technologies show a willingness to use capital to enhance its innovation pipeline, though this also introduces some added execution and integration risk.

Summary

Overall, Pro-Dex appears to be a small, specialized medical device player with steady but uneven financial performance, a reasonably healthy balance sheet, and limited cash buffers. Its main strengths lie in technical expertise, tight integration with major OEM partners, and a strong innovation track record in a narrow, high-value segment of surgical tools. Key risks include reliance on a concentrated customer base, variability in profits and cash flow, and the need to keep investing in new technologies and products to maintain its niche. For observers, the most important things to watch are the stability of its key customer relationships, the sustainability of recent earnings strength once one-time gains are stripped out, and the company’s success in expanding its proprietary product offerings and presence in growing areas like robotics-assisted surgery.

NEWS

October 30, 2025 · 4:00 PM UTC

Pro-Dex, Inc. Announces Fiscal 2026 First Quarter Results

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October 16, 2025 · 4:00 PM UTC

Pro-Dex, Inc. Announces Clarification Related to Trading Symbol

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September 4, 2025 · 4:00 PM UTC

Pro-Dex, Inc. Announces Fiscal 2025 Fourth Quarter and Full-Year Results

Read more