Medinotec Inc Financials

MDNC

Source SEC Filings (10-K/10-Q) Data as of May 31, 2026 Currency USD FYE February

This page shows Medinotec Inc (MDNC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MDNC FY2026 2026-07-09

Medinotec’s economic core stayed steady in FY2026, but overhead expansion absorbed much more of each sales dollar.

Between FY2025 and FY2026, gross margin stayed near 53.0%, but operating margin fell to 11.3%, so the pressure came from overhead rather than the basic gross spread on sales. Meanwhile, operating cash flow reached $907K and slightly exceeded net income, partly because receivables stopped expanding, so the FY2026 earnings drop did not bring a matching cash squeeze.

FY2025 now looks less like a new baseline than a peak in fixed-cost absorption: revenue added only $616K in FY2026, but selling and admin expense increased by almost $968K, which explains why profit compressed despite similar gross margins. That pattern says earnings are still highly sensitive to management’s cost footprint, not just to demand.

The balance sheet got meaningfully lighter: total liabilities fell to $1.1M from $2.5M in FY2026. With cash of $2.8M and free cash flow of $905K, day-to-day funding looks internally supported rather than reliant on new financing, even after a financing outflow during the year.

Financial Health Signals

Financial health score pending refresh

We are recalculating Medinotec Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

Medinotec Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.14x

For every $1 of reported earnings, Medinotec Inc generates $1.14 in operating cash flow ($907K OCF vs $795K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

12.5x

Medinotec Inc earns $12.5 in operating income for every $1 of interest expense ($1.1M vs $88K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$9.7M

YoY+6.8%

Medinotec Inc generated $9.7M in revenue in fiscal year 2026. This represents an increase of 6.8% from the prior year.

EBITDA

$1.2M

YoY-64.0%

Medinotec Inc's EBITDA was $1.2M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 64.0% from the prior year.

Net Income

$795K

YoY-63.2%

Medinotec Inc reported $795K in net income in fiscal year 2026. This represents a decrease of 63.2% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$905K

YoY+14.8%

Medinotec Inc generated $905K in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 14.8% from the prior year.

Cash & Debt

$2.8M

YoY-0.5%

Medinotec Inc held $2.8M in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

12M

YoY+0.2%

Medinotec Inc had 12M shares outstanding in fiscal year 2026. This represents an increase of 0.2% from the prior year.

Margins & Returns

Gross Margin

52.7%

YoY-0.2pp

Medinotec Inc's gross margin was 52.7% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the prior year.

Operating Margin

11.3%

YoY-23.8pp

Medinotec Inc's operating margin was 11.3% in fiscal year 2026, reflecting core business profitability. This is down 23.8 percentage points from the prior year.

Net Margin

8.2%

YoY-15.5pp

Medinotec Inc's net profit margin was 8.2% in fiscal year 2026, showing the share of revenue converted to profit. This is down 15.5 percentage points from the prior year.

Return on Equity

13.9%

YoY-36.7pp

Medinotec Inc's ROE was 13.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 36.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$150K

YoY+64.4%

Medinotec Inc invested $150K in research and development in fiscal year 2026. This represents an increase of 64.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1K

YoY-98.5%

Medinotec Inc invested $1K in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 98.5% from the prior year.

MDNC Income Statement

Metric	FY26	FY25	FY24	FY23
Revenue	$9.7M+6.8%	$9.1M+81.5%	$5.0M+402.3%	$1000K
Cost of Revenue	$4.6M+7.1%	$4.3M+266.6%	-$2.6M-517.1%	-$418K
Gross Profit	$5.1M+6.4%	$4.8M+97.3%	$2.4M+319.8%	$582K
R&D Expenses	$150K+64.4%	$91K+507.7%	-$22K+65.5%	-$65K
SG&A Expenses	$2.3M+71.8%	$1.3M+180.7%	-$1.7M-157.8%	-$648K
Operating Income	$1.1M-65.7%	$3.2M+431.4%	$601K+351.7%	-$239K
Interest Expense	$88K-50.3%	$176K+163.6%	-$277K-22.2%	-$227K
Income Tax	-$275K+68.2%	-$865K-472.9%	-$151K-489.5%	$39K
Net Income	$795K-63.2%	$2.2M+633.6%	-$405K-14.7%	-$353K
EPS (Diluted)	N/A	N/A	N/A	N/A

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Revenue	$2.7M+45.5%	$1.8M-28.2%	$2.5M-21.6%	$3.2M+51.7%	$2.1M-38.9%	$3.5M+36.2%	$2.6M+42.2%	$1.8M
Cost of Revenue	$1.3M+40.6%	$955K-19.8%	$1.2M-3.5%	$1.2M+1.1%	$1.2M-50.2%	$2.5M+60.9%	$1.5M+57.0%	$971K
Gross Profit	$1.3M+50.9%	$867K-35.6%	$1.3M-32.8%	$2.0M+119.3%	$913K-61.0%	$2.3M+125.2%	$1.0M+24.9%	$833K
R&D Expenses	$8K-69.7%	$26K+215.7%	$8K-87.4%	$66K+35.1%	$49K+40.2%	$35K-49.5%	$69K+3561.2%	$2K
SG&A Expenses	$594K-0.8%	$599K+37.6%	$435K-40.0%	$725K+30.1%	$557K-37.6%	$893K+135.5%	$379K+7.2%	$354K
Operating Income	$181K+168.5%	-$264K-147.8%	$553K+4.6%	$529K+90.5%	$277K-85.8%	$2.0M+271.4%	$527K+21.0%	$436K
Interest Expense	$7K-17.1%	$8K+16.4%	$7K-82.3%	$40K+26.2%	$32K+14.4%	$28K-35.7%	$43K-7.8%	$47K
Income Tax	$14K+102.1%	-$631K-4769.8%	$14K-93.0%	$194K+30.2%	$149K+111.9%	-$1.3M-939.8%	$149K+34.6%	$111K
Net Income	$222K+420.6%	-$69K-117.2%	$403K+16.4%	$347K+204.6%	$114K-92.3%	$1.5M+376.0%	$310K+9.0%	$285K
EPS (Diluted)	N/A	N/A	N/A	$0.03+200.0%	$0.01	N/A	N/A	$0.02

MDNC Balance Sheet

Metric	FY26	FY25	FY24	FY23
Total Assets	$6.8M+0.1%	$6.8M+41.7%	$4.8M+7.0%	$4.5M
Current Assets	$6.4M-0.1%	$6.4M+46.7%	$4.4M+30.0%	$3.4M
Cash & Equivalents	$2.8M-0.5%	$2.8M-1.4%	$2.8M-0.7%	$2.8M
Inventory	$979K+33.7%	$732K+28.4%	$570K+49.5%	$381K
Accounts Receivable	$2.4M-10.0%	$2.6M+343.0%	$590K+2698.5%	$21K
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$1.1M-56.6%	$2.5M-3.8%	$2.6M+36.3%	$1.9M
Current Liabilities	$1.1M-26.8%	$1.5M+81.9%	$827K+1060.3%	$71K
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$5.7M+33.7%	$4.3M+97.1%	$2.2M-15.2%	$2.6M
Retained Earnings	N/A	N/A	N/A	N/A

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Total Assets	$7.0M+2.5%	$6.8M-0.6%	$6.9M+7.5%	$6.4M-13.9%	$7.4M+8.7%	$6.8M+27.0%	$5.4M+1.3%	$5.3M
Current Assets	$6.6M+2.4%	$6.4M-0.8%	$6.5M+8.3%	$6.0M-14.0%	$7.0M+8.3%	$6.4M+30.5%	$4.9M+0.4%	$4.9M
Cash & Equivalents	$2.5M-8.7%	$2.8M-3.5%	$2.9M+27.1%	$2.2M+15.2%	$2.0M-29.6%	$2.8M+3.5%	$2.7M-3.0%	$2.8M
Inventory	$867K-11.4%	$979K+6.3%	$921K+24.2%	$742K+13.2%	$655K-10.5%	$732K-37.0%	$1.2M-9.4%	$1.3M
Accounts Receivable	$2.5M+6.8%	$2.4M+4.1%	$2.3M-12.3%	$2.6M-33.7%	$3.9M+48.8%	$2.6M+163.2%	$992K+28.7%	$771K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.1M+2.8%	$1.1M-18.6%	$1.4M-11.8%	$1.5M-49.4%	$3.0M+19.6%	$2.5M+0.1%	$2.5M-8.3%	$2.8M
Current Liabilities	$1.1M+2.8%	$1.1M-18.6%	$1.4M-11.9%	$1.5M-26.6%	$2.1M+38.9%	$1.5M+2.0%	$1.5M-5.8%	$1.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$5.9M+2.5%	$5.7M+3.8%	$5.5M+13.7%	$4.8M+10.7%	$4.4M+2.3%	$4.3M+51.1%	$2.8M+11.7%	$2.5M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MDNC Cash Flow Statement

Metric	FY26	FY25	FY24	FY23
Operating Cash Flow	$907K+3.3%	$878K+6063.7%	$14K+102.9%	-$491K
Capital Expenditures	$1K-98.5%	$89K+4047.4%	-$2K-104.1%	$55K
Free Cash Flow	$905K+14.8%	$789K+6480.6%	$12K+102.2%	-$546K
Investing Cash Flow	-$1K+98.5%	-$89K-979.1%	$10K+101.9%	-$530K
Financing Cash Flow	-$983K-9.9%	-$894K-10953.9%	-$8K-100.2%	$3.6M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Operating Cash Flow	-$176K-46.0%	-$121K-121.4%	$563K-54.0%	$1.2M+261.2%	-$759K-869.1%	$99K-20.7%	$125K-69.5%	$408K
Capital Expenditures	$40K	N/A	N/A	N/A	N/A	-$1K-101.9%	$73K+205.3%	$24K
Free Cash Flow	-$216K	N/A	N/A	N/A	N/A	$97K+87.7%	$52K-86.5%	$385K
Investing Cash Flow	-$40K	N/A	N/A	N/A	N/A	$1K+101.9%	-$73K-521.9%	-$12K
Financing Cash Flow	-$38K-151700.0%	$25+101.0%	-$3K+99.7%	-$943K-2387.0%	-$38K+25.6%	-$51K+53.6%	-$110K+43.0%	-$192K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MDNC Financial Ratios

Metric	FY26	FY25	FY24	FY23
Gross Margin	52.7%-0.2pp	52.9%+4.2pp	48.6%-9.6pp	58.2%
Operating Margin	11.3%-23.8pp	35.0%+23.1pp	12.0%+35.8pp	-23.9%
Net Margin	8.2%-15.5pp	23.7%+31.8pp	-8.1%+27.2pp	-35.3%
Return on Equity	13.9%-36.7pp	50.6%+69.2pp	-18.7%-4.9pp	-13.8%
Return on Assets	11.7%-20.1pp	31.7%+40.1pp	-8.4%-0.6pp	-7.9%
Current Ratio	5.83+1.6	4.27-1.0	5.29-42.0	47.25
Debt-to-Equity	0.19-0.4	0.59-0.6	1.22+0.5	0.76
FCF Margin	9.3%+0.7pp	8.7%+8.4pp	0.2%+54.9pp	-54.6%

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Gross Margin	49.3%+1.8pp	47.6%-5.5pp	53.1%-8.8pp	61.9%+19.1pp	42.8%-24.3pp	67.1%+26.5pp	40.6%-5.6pp	46.2%
Operating Margin	6.8%+21.3pp	-14.5%-36.3pp	21.8%+5.5pp	16.3%+3.3pp	13.0%-43.1pp	56.1%+35.5pp	20.6%-3.6pp	24.1%
Net Margin	8.4%+12.2pp	-3.8%-19.7pp	15.9%+5.2pp	10.7%+5.4pp	5.3%-37.0pp	42.3%+30.2pp	12.1%-3.7pp	15.8%
Return on Equity	3.8%+5.0pp	-1.2%-8.5pp	7.3%+0.2pp	7.2%+4.6pp	2.6%-32.0pp	34.6%+23.6pp	11.0%-0.3pp	11.3%
Return on Assets	3.2%+4.2pp	-1.0%-6.9pp	5.9%+0.5pp	5.4%+3.9pp	1.5%-20.2pp	21.7%+15.9pp	5.8%+0.4pp	5.4%
Current Ratio	5.81-0.0	5.83+1.0	4.79+0.9	3.90+0.6	3.33-0.9	4.27+0.9	3.34+0.2	3.13
Debt-to-Equity	0.190.0	0.19-0.1	0.25-0.1	0.32-0.4	0.69+0.1	0.59-0.3	0.90-0.2	1.09
FCF Margin	-8.2%	N/A	N/A	N/A	N/A	2.8%+0.8pp	2.0%-19.3pp	21.3%

Frequently Asked Questions

What is Medinotec Inc's annual revenue?

Medinotec Inc (MDNC) reported $9.7M in total revenue for fiscal year 2026. This represents a 6.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Medinotec Inc's revenue growing?

Medinotec Inc (MDNC) revenue grew by 6.8% year-over-year, from $9.1M to $9.7M in fiscal year 2026.

Is Medinotec Inc profitable?

Yes, Medinotec Inc (MDNC) reported a net income of $795K in fiscal year 2026, with a net profit margin of 8.2%.

What is Medinotec Inc's EBITDA?

Medinotec Inc (MDNC) had EBITDA of $1.2M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

What is Medinotec Inc's gross margin?

Medinotec Inc (MDNC) had a gross margin of 52.7% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Medinotec Inc's operating margin?

Medinotec Inc (MDNC) had an operating margin of 11.3% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Medinotec Inc's net profit margin?

Medinotec Inc (MDNC) had a net profit margin of 8.2% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is Medinotec Inc's return on equity (ROE)?

Medinotec Inc (MDNC) has a return on equity of 13.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Medinotec Inc's free cash flow?

Medinotec Inc (MDNC) generated $905K in free cash flow during fiscal year 2026. This represents a 14.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Medinotec Inc's operating cash flow?

Medinotec Inc (MDNC) generated $907K in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Medinotec Inc's total assets?

Medinotec Inc (MDNC) had $6.8M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Medinotec Inc's capital expenditures?

Medinotec Inc (MDNC) invested $1K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Medinotec Inc spend on research and development?

Medinotec Inc (MDNC) invested $150K in research and development during fiscal year 2026.

How many shares does Medinotec Inc have outstanding?

Medinotec Inc (MDNC) had 12M shares outstanding as of fiscal year 2026.

What is Medinotec Inc's current ratio?

Medinotec Inc (MDNC) had a current ratio of 5.83 as of fiscal year 2026, which is generally considered healthy.

What is Medinotec Inc's debt-to-equity ratio?

Medinotec Inc (MDNC) had a debt-to-equity ratio of 0.19 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Medinotec Inc's return on assets (ROA)?

Medinotec Inc (MDNC) had a return on assets of 11.7% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Medinotec Inc's Piotroski F-Score?

Medinotec Inc (MDNC) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Medinotec Inc's earnings high quality?

Medinotec Inc (MDNC) has an earnings quality ratio of 1.14x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Medinotec Inc cover its interest payments?

Medinotec Inc (MDNC) has an interest coverage ratio of 12.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.