Pro-Dex, Inc. subsidiary Advanced Precision Machining, LLC (APM) renewed three leases with Trico Costa Mesa Properties, L.P., covering approximately 2,500 square feet of office, manufacturing and warehouse space at 1645, 1647 and 1649 Monrovia Avenue in Costa Mesa. The lease terms extend to September 30, 2030. For each of spaces 1647 and 1649, monthly base rent is $5,651 from February 1, 2027 through October 31, 2028, then increases by 4.0%, or $227 per month, beginning November 1, 2028. For space 1645, rent is $5,513 per month over that initial period, then increases by 6.6%, or $365 per month, beginning November 1, 2028.
APM also entered a lease with the Salter Family Trust for an approximately 5,800-square-foot industrial unit at 921-923 Newhall Street in Costa Mesa, running from November 1, 2026 through September 30, 2030. Monthly base rent is $11,600 through February 29, 2028, $12,064 from March 1, 2028 through June 30, 2029, and $12,547 from July 1, 2029 through September 30, 2030.
Pro-Dex, Inc. (PDEX) reported fiscal 2027 first-quarter net sales of $20.6 million for the three months ended September 30, 2026, up 11% from $18.5 million a year earlier. Gross profit increased 28% to $6.9 million, and gross margin rose to 33% from 29%, primarily due to favorable product mix. Operating income increased 13% to $3.5 million, while operating expenses rose 48% to $3.3 million.
Net income was $3.0 million, or $0.92 per diluted share, compared with $4.7 million, or $1.40 per diluted share, in the prior-year quarter. Unrealized gains on marketable equity investments were $73,000 versus $3.3 million; Pro-Dex says investment valuations can be highly volatile. Medical-device revenue increased $3.3 million, including $1.8 million related to the next-generation handpiece sold to its largest customer, offset by a $1.7 million decrease in repairs of the legacy handpiece. Revenue increased by $511,000 from the newly acquired Advanced Precision Machining subsidiary, excluding $814,000 of intercompany sales eliminated in consolidation. Pro-Dex expects to ship validation units later this fiscal year.
Pro-Dex, Inc. (PDEX) reported net sales of $20.560 million for the three months ended September 30, 2026, compared with $18.530 million for the same period in 2025. Gross profit increased to $6.857 million from $5.367 million, and gross margin was 33%, compared with 29%. Operating income was $3.515 million, versus $3.109 million.
Net income was $3.048 million, compared with $4.680 million. The prior-year period included a $3.299 million unrealized gain on investments, compared with $73,000 in the current period. Operating cash flow was $6.490 million, versus $2.310 million. Backlog was approximately $43.1 million as of September 30, 2026, including $42.4 million scheduled for delivery during the remainder of fiscal 2027.
One customer accounted for 72% of quarterly sales. The exclusive supplier of a proprietary medical-grade finish for many handpiece parts told Pro-Dex shipments would resume on a timely basis by mid-November; the company said delays could put shipments to its largest customer at risk. Management said cash, cash equivalents and receivables were expected to meet requirements for at least the next 12 months.
Pro-Dex, Inc. (PDEX) reported fiscal 2026 net sales of $77.548 million, up 16% from $66.593 million, and net income of $13.662 million compared with $8.978 million. Operating income was $12.991 million, compared with $10.689 million.
Medical-device sales rose 30% to $62.098 million, while repair revenue declined 33% to $12.540 million as the largest customer transitioned from its legacy handpiece. That customer represented 78% of fiscal 2026 sales; its amended supply agreement extends through calendar 2028 and provides for higher volumes of its newest surgical handpiece. Pro-Dex acquired APM in February 2026, adding precision machining operations serving aerospace and defense customers.
Operating activities provided $7.242 million of cash, compared with $1.682 million used in fiscal 2025. Backlog was $32.9 million at June 30, 2026, versus $50.4 million at June 30, 2025. Substantially all of the June 2026 backlog and certain subsequent purchase orders were expected to be delivered in fiscal 2027.
PRO DEX INC (symbol: PDEX) is the issuer of record for a Form DEF 14A filing submitted to the SEC. Pro-Dex, Inc. is seeking shareholder votes at its November 19, 2026 annual meeting on seven director nominees, auditor ratification and an advisory compensation proposal. The board recommends a vote “for” each nominee and both proposals, including Baker Tilly US, LLP as auditor for the fiscal year ending June 30, 2027; the compensation vote is nonbinding. Holders of record at close of business on September 22, 2026 may vote; 3,233,234 common shares were outstanding at close of business on that date.
The company reported 16% year-over-year sales growth in fiscal 2026, all-time highs in quarterly and annual sales, a completed acquisition of Advanced Precision Machining, and a three-year extension with its largest customer. Net income in its pay-versus-performance table was $13.662 million for fiscal 2026, compared with $8.978 million for fiscal 2025. Reported total compensation was $727,584 for CEO Richard L. Van Kirk and $353,737 for CFO Alisha K. Charlton.
PRO DEX INC (PDEX) entered into a Third Amendment to its Standard Industrial/Commercial Multi-Tenant Lease – Net with Irvine Business Properties, effective August 18, 2026. The lease covers approximately 28,180 square feet at 2361 McGaw Avenue in Irvine, California, which includes the company’s executive offices and manufacturing facility.
The amendment extends the lease term to September 30, 2030 and, beginning October 1, 2027, provides for 3.5% annual base rent increases. Base rent will be $49,281.75 per month from October 1, 2027 through September 30, 2028 and will increase by 3.5%, or $1,724.86 per month, on October 1, 2028 and an additional 3.5% per month, or $1,785.23 per month, on October 1, 2029. Other lease terms remain unchanged.
PRO DEX INC (PDEX) reports that Chief Executive Officer and director Richard Lee Van Kirk Jr sold 765 shares of common stock on September 11, 2026 in two open-market or private transactions. The sales, executed under a Rule 10b5-1 trading plan adopted on May 28, 2026, occurred at weighted average prices of $58.94 for 290 shares (with individual prices ranging from $58.36 to $59.35) and $59.62 for 475 shares (with individual prices ranging from $59.39 to $59.91).
PRO DEX INC (PDEX) reported that its Chief Executive Officer and director, Richard Lee Van Kirk Jr, sold a total of 19,235 shares of common stock on September 9, 2026 in a series of open-market transactions under a Rule 10b5-1 trading plan adopted on May 28, 2026, at weighted average prices generally in the high-$50s to mid-$60s per share, each calculated from multiple trades within disclosed price ranges.
PRO DEX INC (PDEX) reported that Chief Financial Officer Alisha Charlton sold a total of 2,300 shares of common stock on September 9, 2026 in open-market transactions. The sales consisted of 1,500 shares at a weighted average price of $61.05 and 800 shares at a weighted average price of $61.76. The 1,500-share sale occurred in multiple trades between $60.59 and $61.41, and the 800-share sale in trades between $61.674 and $61.92. No Rule 10b5-1 trading plan is reported for these transactions.
PRO DEX INC (PDEX) has a planned resale under Rule 144 by stockholder Richard Van Kirk Jr. The notice covers the proposed sale of 20,000 shares of common stock, with an indicated aggregate market value of $1,294,000.00 and reference to 3,203,334 shares of common stock, as of a stated context.
The shares to be sold were acquired through a stock option exercise on September 9, 2020, from the issuer. The proposed Rule 144 sale is dated September 9, 2026, and the shares are held through The Charles Schwab Corporation in an account associated with the filer.