Pro-Dex Inc Colo SEC Filings

Pro-Dex, Inc. reported higher sales and earnings for its fiscal third quarter and nine months ended March 31, 2026. Third-quarter net sales rose 15% to $19.9 million from $17.4 million, driven mainly by higher shipments of its largest customer’s next generation orthopedic handpiece, partly offset by lower repair revenue. Gross profit increased to $6.1 million, but gross margin slipped to 31% from 33% on a less favorable product mix. Operating expenses climbed 41% to $3.0 million, reflecting the Advanced Precision Machining acquisition and higher personnel costs, reducing operating income to $3.1 million from $3.6 million.

Third-quarter net income rose to $3.9 million, or $1.20 per diluted share, from $3.3 million, or $0.98, boosted by a $2.3 million realized gain on contingent value rights tied to Monogram Technologies. For the nine months, net sales increased 16% to $57.1 million, and net income grew to $10.8 million, or $3.27 per diluted share, aided by a $9.1 million realized gain partly offset by reversal of $3.2 million in prior unrealized gains. Cash and cash equivalents rose to $10.0 million and shareholders’ equity to $45.2 million as of March 31, 2026.

Pro-Dex, Inc. reported strong results for the quarter ended March 31, 2026, with net sales of $19.9 million and net income of $3.9 million. Revenue rose from higher medical device sales, particularly orthopedic products for its largest customer, which represented 79% of quarterly sales. Gross margin was 31%, slightly lower than the prior year due to product mix and higher inventory-related charges. For the nine months, net sales reached $57.1 million and net income was $10.8 million, helped by gains totaling $8.1 million from the sale and milestone-related contingent value rights tied to its Monogram investment. The company acquired Advanced Precision Machining, LLC for $8.65 million to expand machining capacity and diversify into aerospace and defense, funded mainly by new term debt. Cash and cash equivalents increased to $10.0 million, working capital to $39.1 million, and backlog to about $39.0 million, while notes payable rose to $18.5 million. Pro-Dex also continued share repurchases, buying 69,422 shares for $2.8 million year-to-date.

Pro-Dex, Inc. reported a compensation change for its Chief Financial Officer, Alisha K. Charlton. Effective with the company’s next bi-weekly pay period, her annual base salary will increase from $247,200 to $257,000. Her employment otherwise continues on an at-will basis under previously disclosed terms.

Pro-Dex, Inc. completed the acquisition of all membership interests of Advanced Precision Machining LLC on February 9, 2026 for approximately $8,650,000. The company paid about $6,650,000 in cash at closing and agreed to a $2,000,000 subordinated seller promissory note bearing 8% simple interest with twenty-one equal quarterly payments of $117,569.54.

To fund the cash portion, Pro-Dex entered into a Second Amended and Restated Credit and Security Agreement with UMB Bank and issued Term Note D in the principal amount of $6,650,000, while extending the maturity of its $11,000,000 revolving note to December 29, 2027. No amounts are drawn under the revolving note as of the report date.

Advanced Precision Machining manufactures machined components for multiple industries, including medical devices and aerospace, and has long supplied Pro-Dex sub-assemblies. Management describes the deal as part of expansion plans tied to a recently announced contract extension with its largest customer and expected revenue growth, while also aiming to maintain and expand Advanced Precision Machining’s business with other industries.

Pro-Dex, Inc. furnished an update on its recent financial results by announcing that it issued a press release covering its financial performance for the second quarter and six months ended December 31, 2025. The company attached this press release as Exhibit 99.1 to the current report.

The report clarifies that the press release and related information are being furnished rather than filed for liability purposes under securities laws. The filing also includes an exhibit for the cover page interactive data file and is signed on behalf of the company by its Chief Financial Officer, Alisha K. Charlton.

Pro-Dex, Inc. reported higher sales and profits for the three and six months ended December 31, 2025. Quarterly net sales rose to $18.7 million from $16.8 million, while net income increased to $2.2 million, or $0.66 diluted per share, up from $0.61.

For the six-month period, net sales grew to $37.2 million from $31.7 million and net income improved to $6.9 million, or $2.07 diluted per share, versus $1.33. Growth was driven mainly by orthopedic device sales tied to a next-generation handpiece for the company’s largest customer and stronger CMF driver demand, partially offset by lower repair revenue.

Pro-Dex realized $8.9 million of cash proceeds from the sale of Monogram Technologies shares and recorded a $6.8 million realized gain, contributing to stronger cash flow and lifting cash and cash equivalents to $8.0 million. Total notes payable fell to $10.5 million. Customer concentration remains high, with one customer representing about 79% of sales and 82% of accounts receivable, and order backlog was approximately $37.4 million.

Pro-Dex, Inc. director Angelita Domingo reported a small purchase of company stock through an employee plan. On 01/22/2026, she acquired 18 shares of common stock at a price of $34.36 per share in a transaction made under the company’s Employee Stock Purchase Plan, which is described as exempt under Rule 16b-3(c) and Rule 16b-3(d). After this transaction, she directly held 15,465 shares of Pro-Dex common stock.

PRO DEX INC (PDEX) reported an insider stock purchase by a director on 11/21/2025. The filing shows the director acquired 900 shares of common stock at a price of $32.73 per share in a directly owned account, bringing the directly held total to 2,900 shares. On the same date, an additional 2,200 shares of common stock were acquired at $32.70 per share and are reported as indirectly owned by the director’s spouse, bringing the spouse’s reported indirect holdings to 16,896 shares. The filing is signed by an attorney-in-fact on behalf of the reporting person.

PRO DEX INC (PDEX) reported an insider equity transaction by its Chief Executive Officer and Director, Richard Van Kirk. On 11/20/2025, 72 shares of common stock were disposed of at a price of $30.83 per share. After this transaction, he directly beneficially owned 99,707 shares of PRO DEX common stock.

The filing explains that these 72 shares were forfeited to pay payroll taxes related to the vesting of 200 restricted shares that were originally granted on 11/20/2024 under the company’s 2016 Equity Incentive Plan. This is a routine tax-withholding event tied to equity compensation rather than an open-market sale.