The core medical device business continues to grow with improving margins, but the large swing in investment gains masks underlying earnings power. Monitor the next quarter for sustained operating leverage and any update on Monogram/Zimmer Biomet validation unit shipments.
Price Chart
Executive Summary
Pro-Dex reported fiscal Q1 2027 revenue of $20.6M, up 11% YoY and slightly above the $20.4M consensus. GAAP diluted EPS was $0.92, well above the $0.67 consensus, but net income fell to $3.0M from $4.7M a year ago due to the absence of a large unrealized gain on equity investments that boosted the prior-year period. Operating income rose 13% to $3.5M, and gross margin improved to 33% from 29%.
Key Financial Metrics
Key Facts
- Net sales $20.6M vs $18.5M YoY, +11%
- GAAP diluted EPS $0.92 vs $1.40 YoY (prior year included $3.3M unrealized gain on investments)
- Operating income $3.5M vs $3.1M YoY, +13%
- Gross margin 33% vs 29% YoY, +4pp
- Operating expenses $3.3M vs $2.3M YoY, +48% due to APM acquisition costs and higher personnel
- Net income $3.0M vs $4.7M YoY, decline driven by lower unrealized gains ($73K vs $3.3M)
- Cash and equivalents $11.8M vs $8.2M at June 30, 2026
Financial Impact
Revenue beat consensus by $0.2M (1%); EPS beat consensus by $0.25 (37%) on a GAAP basis; operating income grew 13% YoY
Risk Factors
- Net income decline due to volatile investment gains; core operating earnings are a cleaner metric
- Operating expenses rising 48% YoY, partly from APM integration, could pressure margins if revenue growth slows
- Concentration on largest customer for next-generation handpiece revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001079973-26-001411 |
| Document: pdex_8k.htm | 0001079973-26-001411 |
| Document: 0001079973-26-001411-index-headers.html | 0001079973-26-001411 |
| Document: 0001079973-26-001411-index.html | 0001079973-26-001411 |
| Document: 0001079973-26-001411.txt | 0001079973-26-001411 |
| 8-K Data (Synthetic) | 0001079973-26-001411 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | 8-K | $64.57 | awaiting T+20 | awaiting T+20 | $58.16 (−9.93%) |
Oct 29, 2026 3d ago | 8-K | $62.00 | awaiting T+20 | awaiting T+20 | $58.16 (−6.19%) |
Oct 6, 2026 26d ago | DEFA14A | $62.80 | awaiting T+20 | awaiting T+20 | $58.16 (−7.39%) |
Oct 6, 2026 26d ago | DEF 14A | $62.80 | awaiting T+20 | awaiting T+20 | $58.16 (−7.39%) |
Sep 14, 2026 6w ago | Insider Cluster | $66.91 $62.27 | ▼ −6.93% | ▼ −9.66% | $58.16 (−13.08%) |
Sep 10, 2026 7w ago | Insider Cluster | $62.81 $62.49 | ▼ −0.50% | ▼ −2.37% | $58.16 (−7.40%) |
Aug 28, 2026 9w ago | 8-K | $62.10 $70.02 | ▲ +12.75% | ▲ +12.94% | $58.16 (−6.34%) |
Jun 17, 2026 19w ago | 8-K | $64.37 $59.08 | ▼ −8.22% | ▼ −8.75% | $58.16 (−9.65%) |
Apr 30, 2026 26w ago | 8-K | $48.36 $66.93 | ▲ +38.40% | ▲ +33.12% | $58.16 (+20.26%) |
US Market Status
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