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Dynatronics Corp (NASDAQ: DYNT) is a prominent United States-based company renowned for its innovative medical devices and restorative products targeted towards achieving optimal health. Established over 31 years ago, Dynatronics has built a robust reputation for competitive pricing, exemplary customer service, and unmatched clinical support. The company designs, manufactures, and distributes advanced-technology medical devices, therapeutic tables, rehabilitation equipment, and a wide array of rehabilitation and therapy products and supplies.
Dynatronics’ product portfolio includes electrotherapy, therapeutic ultrasound, phototherapy, customized athletic training treatment tables, institutional cabinetry, and exercise products. These products are marketed to a diverse range of healthcare professionals such as physical therapists, chiropractors, athletic trainers, and sports medicine practitioners. The company’s commitment to quality is reflected in its reputable brands including Bird & Cronin®, Solaris™, Hausmann®, Physician's Choice®, and PROTEAM™, among others.
With over 60 sales representatives and 150 active distributors located nationwide, Dynatronics ensures immediate service and extensive field support, from equipment setup to in-service training. Their experienced and knowledgeable sales force is one of the most respected in the industry.
In recent developments, Dynatronics has made significant strides to optimize its cost structure and strengthen its balance sheet. The company recently entered into a new Loan and Security Agreement with Gibraltar Business Capital, enhancing its operational and financial flexibility. Additionally, Brian Baker has assumed the role of Chief Executive Officer, bringing a wealth of experience and a customer-focused approach to the leadership team.
The company has shown resilience and adaptability amidst economic challenges, continuously working on business optimization strategies. The financial guidance for fiscal year 2024 shows a net sales target of $34 million to $37 million, with a strategic focus on cost reduction and margin expansion.
Dynatronics is also focusing on launching new products, with plans for a limited launch in the third quarter and a full launch in the fourth quarter of fiscal year 2024. These new product lines are expected to complement their existing offerings and contribute to the company's revenue growth.
For more information about Dynatronics Corp and its latest updates, visit www.dynatronics.com.
Dynatronics Corporation (NASDAQ:DYNT) reported its Q2 fiscal year 2023 results, showcasing total net sales of $10.9 million and a gross profit margin increase to 28.1% from 19.8% a year prior. Net loss improved to $0.8 million, down from $1.4 million, and current liabilities reduced by $1.0 million. The company reaffirmed its net sales guidance for fiscal year '23 at $45 million to $48 million, projecting a 5% improvement from the previous year. However, it deferred gross margin guidance due to inflationary pressures and other economic challenges.
Dynatronics Corporation (NASDAQ:DYNT) announced a 1-for-5 reverse stock split effective February 1, 2023, at 5:00 p.m. (ET) to comply with NASDAQ's minimum bid price requirement. As a result, outstanding shares will reduce from approximately 19.6 million to 3.9 million. The common stock will trade on a split-adjusted basis starting February 2, 2023. The reverse stock split will not affect the Series A and B preferred stock, though their conversion ratios will change. The company seeks to maintain compliance with NASDAQ's listing requirements, but no guarantees can be made regarding future compliance.
Dynatronics Corporation (NASDAQ:DYNT) announced its second-quarter financial results for fiscal year 2023, scheduled for release on February 9, 2023, before market open. Following the results, a conference call will take place at 8:00 AM ET, featuring management remarks, a slide presentation, and a Q&A session. Interested participants can access the call by dialing specific numbers provided in the release, and a replay will be available until February 16, 2023. The company manufactures products for athletic training, physical therapy, and rehabilitation, emphasizing its commitment to high-quality restorative solutions.
Dynatronics Corporation (NASDAQ:DYNT) reported its Q1 fiscal year 2023 results, revealing net sales of $12.1 million and a gross profit margin increase to 30.2% from 23.4% in Q4 FY22. The net loss improved to $0.5 million from $1.6 million. The company maintains a debt-free status for the 9th consecutive quarter. Guidance for FY23 net sales is set at $45 million to $48 million, a 5% increase from FY22. However, due to inflation, gross margin guidance is deferred as the company anticipates continued volatility from economic challenges.
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