Pro-Dex, Inc. furnished a Form 8-K announcing it is issuing a press release covering financial performance for its first fiscal quarter ended September 30, 2025. The Item 2.02 information is expressly furnished, not filed for purposes of Section 18 of the Exchange Act. The press release is included as Exhibit 99.1.
Pro-Dex, Inc. reported stronger quarterly results. Net sales were $18.53 million, up 24% year over year, as orthopedic product shipments recovered and CMF drivers grew. Gross margin was 29% versus 35% a year ago, reflecting higher product costs, under‑absorption, and lower repair margins.
Operating income was $3.11 million. Other income rose to $3.11 million, including $3.30 million of unrealized gains on investments. Net income was $4.68 million, with diluted EPS of $1.40. Cash was $0.51 million and investments measured at fair value totaled $10.19 million. Working capital was $37.12 million. Notes payable were $13.28 million, and $2.16 million was drawn on the revolving loan.
Backlog was approximately $46.8 million, with $43.6 million scheduled for delivery during the remainder of fiscal 2026. Customer concentration remained high: one customer represented 78% of revenue and 84% of gross receivables. After quarter‑end, Pro-Dex received $8.9 million in cash from the Monogram sale and expects to record a $6.8 million realized gain in the next quarter; it also received contingent value rights tied to future milestones.
Pro‑Dex, Inc. discloses ownership, governance, compensation and equity-plan details in its definitive proxy. There are 3,280,004 shares outstanding and a group of directors, named executives and related parties hold 1,505,896 shares (45.9%). AO Partners I, L.P. holds 922,204 shares and those shares are pledged as collateral for a bank loan.
Board biographies highlight long tenure and industry experience in finance and medical devices. Executive pay descriptions show base salaries (CEO base noted at $350,000 and another executive at $247,200), year-by-year total compensation figures, and a pay-for-performance approach where bonuses tie to revenues, profit, cash flow and stock price. Outstanding equity awards include 237,250 non-qualified stock options (79,750 vested) and restricted/performance shares; the shareholder‑approved plan caps issuance at 1,500,000 shares.
Pro-Dex, Inc. filed a current report to share that it is releasing its financial results for the fourth fiscal quarter and fiscal year ended June 30, 2025. On September 4, 2025, the company issued a press release describing this performance, which is included as Exhibit 99.1. The company notes that the financial information in this item and the press release is being furnished rather than filed under the Exchange Act, which affects how it is treated for certain legal purposes.
Pro-Dex, Inc. filed its Form 10-K for fiscal 2025 describing operations in medical and scientific devices, including segment sales, balance sheet highlights, financing activity, and governance disclosures. Repairs revenue rose to $18,586 (up from $16,505), CMF sales totaled $9,943 (down ~4%), and thoracic sales increased by $1.3 million to $4.3 million. Operating income improved to $10,689 from $7,173. Investments carried net unrealized gains of $3.3 million at June 30, 2025 versus $1.8 million a year earlier. The company purchased a property for $6.5 million financed with a $5.2 million Property Loan. The revolving credit line was increased to $11.0 million and term loans carry maturities through 2029–2030 with a $3.1 million balloon due at maturity. Share repurchases totaled 130,148 shares at $3.5 million in fiscal 2025. The filing discloses customer concentration (major customer represented ~75% of sales) and notes cybersecurity risk management and standard risk-factor disclosures.
Pro-Dex, Inc. disclosed that its Compensation Committee approved discretionary cash bonuses for its two senior executives. On August 14, 2025, the committee granted a $50,000 bonus to Chief Financial Officer Alisha K. Charlton and a $70,000 bonus to Chief Executive Officer Richard L. Van Kirk. The company states that Mr. Van Kirk’s bonus was based on Pro-Dex’s sales growth and fiscal 2025 financial performance exceeding plan. Both bonuses will be paid in cash in the next bi-weekly pay period, with a pay date of August 21, 2025.