Pro-Dex, Inc. (NasdaqCM: PDEX) announced its financial results for the fiscal year ended June 30, 2026, in a press release dated September 3, 2026. The company reported net sales of $77.5 million for fiscal 2026, representing a 16% increase compared to the prior fiscal year.
The company attributes the sales growth primarily to a $15.3 million increase in revenue from its largest customer’s next generation orthopedic handpiece. This growth was partially offset by a $6.0 million reduction in repair revenue from the same customer. Additionally, revenue increased due to $952,000 in new engineering (NRE) revenue and $718,000 in revenue from the Advanced Precision Machining, LLC (APM) subsidiary since its acquisition on February 9, 2026.
Gross profit for fiscal 2026 increased by $4.8 million, or 25%, to $24.3 million. The company notes that its gross margin improved from 29% in fiscal 2025 to 31% in fiscal 2026 due to a favorable product mix. Operating expenses for the year increased by $2.5 million, or 29%, to $11.3 million. The increase is largely attributed to personnel costs, including $582,000 in bonus accruals and non-cash equity compensation, as well as $669,000 in APM’s separate operating expenses and $500,000 in consulting fees.
As a result, operating income for fiscal 2026 increased to $13.0 million, up from $10.7 million in the prior year. Net income for the year ended June 30, 2026, was $13.7 million, or $4.12 per diluted share, compared to $9.0 million, or $2.67 per diluted share, in fiscal 2025. The company notes that the net income for both years includes gains on marketable equity investments.
On the balance sheet, as of June 30, 2026, the company reported cash and cash equivalents of $8.2 million. The company also repurchased $3.4 million of its common stock during the fiscal year.
