$PDEX

PRO DEX INC

CIK:0000788920|SEC Filings

CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 77,548	$ 66,593
Cost of sales	53,213	47,083
Gross profit	24,335	19,510
Operating expenses:
Selling, general and administrative expenses	7,999	5,185
Research and development costs	3,345	3,636
Total operating expenses	11,344	8,821
Operating income	12,991	10,689
Other income (expense):
Interest and dividend income	181	82
Gain on marketable equity investments, net	5,655	2,116
Interest expense	(812)	(829)
Total other income	5,024	1,369
Income before income taxes	18,015	12,058
Income tax expense	(4,353)	(3,080)
Net income	$ 13,662	$ 8,978
Basic & Diluted income per share:
Basic net income per share	$ 4.24	$ 2.73
Diluted net income per share	$ 4.12	$ 2.67
Weighted-average common shares outstanding:
Basic	3,225,884	3,287,844
Diluted	3,317,064	3,361,207

Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 13,662	$ 8,978
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,394	1,239
Unrealized loss (gain) on equity investments	3,434	(1,521)
Gain on sale of investments	(9,089)	(595)
Non-cash straight-line lease amortization	(49)	(33)
Allowance for credit losses	368
Amortization of loan fees, net	12	9
Share-based compensation	688	555
Deferred income taxes	(129)	140
Changes in operating assets and liabilities:
Accounts receivable	(4,713)	(2,546)
Deferred costs	(46)	238
Inventory	1,630	(6,944)
Prepaid expenses and other assets	(105)	(67)
Accounts payable and accrued expenses	(12)	179
Deferred revenue	(176)	188
Income taxes	373	(1,502)
Net cash provided by (used in) operating activities	7,242	(1,682)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of equipment and improvements	(483)	(1,246)
Purchase of APM, net of cash acquired	(6,493)
Purchases of investments	(350)	(899)
Proceeds from sale of investments	11,239	1,907
Net cash provided by (used in) investing activities	3,913	(238)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable, leases, and revolving loan	(23,649)	(11,528)
Proceeds from notes and revolving loan, net of fees	23,617	15,003
Repurchases of common stock	(3,408)	(3,504)
Payments of employee taxes on net issuance of common stock	(27)	(305)
Proceeds from exercise of stock options and ESPP contributions	85	42
Net cash used in financing activities	(3,382)	(292)
Net increase (decrease) in cash and cash equivalents	7,773	(2,212)
Cash and cash equivalents, beginning of year	419	2,631
Cash and cash equivalents, end of year	8,192	419
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	775	818
Cash paid during the period for income taxes by jurisdiction, net of refunds:
Federal income tax payments	3,460	3,030
California income tax payments	2	1,427
Colorado income tax refunds	(50)
Florida income tax payments	570
Indiana income tax payments	130
Total income tax payments	4,112	4,457
Non-cash investing and financing activity:
Cashless stock option exercise		117
Promissory note issued in conjunction with APM acquisition	$ 2,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 8,192	$ 419
Investments	1,150	6,740
Accounts receivable, net of allowance for credit losses of $349 and $0 at June 30, 2026 and 2025, respectively	21,205	16,433
Deferred costs	70	24
Inventory	21,458	22,213
Income taxes receivable	620	1,056
Prepaid expenses	553	410
Total current assets	53,248	47,295
Land and building, net	5,967	6,061
Equipment and improvements, net	5,373	5,153
Right of use asset, net	602	1,050
Intangibles, net	686	26
Deferred income taxes, net	1,544	1,415
Investments	504	148
Goodwill	6,525
Other assets	60	44
Total assets	74,509	61,192
Current liabilities:
Accounts payable	4,262	4,614
Accrued liabilities	4,366	3,479
Income taxes payable	124	186
Deferred revenue	26	202
Notes payable	4,205	6,148
Total current liabilities	12,983	14,629
Non-current liabilities:
Lease liability, net of current portion	627	685
Notes payable, net of current portion	13,266	9,246
Total non-current liabilities	13,893	9,931
Total liabilities	26,876	24,560
Shareholders’ equity:
Common stock, no par value, 50,000,000 shares authorized; 3,186,135 and 3,261,043 shares issued and outstanding at June 30, 2026 and 2025, respectively		704
Retained earnings	47,633	35,928
Total shareholders’ equity	47,633	36,632
Total liabilities and shareholders’ equity	$ 74,509	$ 61,192