Dynatronics Corp. Files 2024 10-K

TL;DR

Dynatronics Corp. 2024 10-K is in. Assets detailed, customer risk noted.

AI Summary

Dynatronics Corp. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its operations in surgical and medical instruments. The filing details its assets, including buildings and equipment, and mentions customer concentration risk. The company, formerly Dynatronics Laser Corp., is incorporated in Utah and headquartered in Salt Lake City.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Dynatronics Corp.'s financial health and operational status for the past fiscal year, including asset details and potential risks.

Risk Assessment

Risk Level: medium — The filing mentions customer concentration risk, indicating potential vulnerability if major customers are lost.

Key Numbers

• 2024-06-30 — Fiscal Year End (Reporting period for the 10-K)
• 2023-06-30 — Prior Fiscal Year End (For comparative financial analysis)
• 2022-06-30 — Previous Fiscal Year End (For trend analysis)

Key Players & Entities

• DYNATRONICS CORP (company) — Filer
• 20240630 (date) — Fiscal year end
• 3841 (number) — Standard Industrial Classification (SIC) for Surgical & Medical Instruments & Apparatus
• SALT LAKE CITY (location) — Company Headquarters
• DYNATRONICS LASER CORP (company) — Former company name

FAQ

Key Financial Figures

• $10 — ically, any transfer of value exceeding $10 in a single transfer or cumulative tran
• $100 — nsfers over a one-year period exceeding $100 to any statutorily defined practitioner

Filing Documents

• form10k.htm (10-K) — 1216KB
• exhibit4-4.htm (EX-4.4) — 11KB
• exhibit10-14.htm (EX-10.14) — 1KB
• exhibit10-15.htm (EX-10.15) — 2KB
• exhibit21-1.htm (EX-21.1) — 1KB
• exhibit23-1.htm (EX-23.1) — 1KB
• exhibit31-1.htm (EX-31.1) — 7KB
• exhibit31-2.htm (EX-31.2) — 7KB
• exhibit32-1.htm (EX-32.1) — 3KB
• exhibit32-2.htm (EX-32.2) — 3KB
• exhibit97.htm (EX-97) — 13KB
• exhibit10-14xu001.jpg (GRAPHIC) — 162KB
• exhibit10-14xu002.jpg (GRAPHIC) — 115KB
• exhibit10-15xu001.jpg (GRAPHIC) — 107KB
• exhibit10-15xu002.jpg (GRAPHIC) — 186KB
• exhibit10-15xu003.jpg (GRAPHIC) — 25KB
• exhibit10-15xu004.jpg (GRAPHIC) — 33KB
• exhibit10-15xu007.jpg (GRAPHIC) — 34KB
• exhibit10-15xu008.jpg (GRAPHIC) — 34KB
• 0001062993-24-016944.txt ( ) — 7358KB
• dynt-20240630.xsd (EX-101.SCH) — 52KB
• dynt-20240630_cal.xml (EX-101.CAL) — 47KB
• dynt-20240630_def.xml (EX-101.DEF) — 110KB
• dynt-20240630_lab.xml (EX-101.LAB) — 602KB
• dynt-20240630_pre.xml (EX-101.PRE) — 285KB
• form10k_htm.xml (XML) — 1021KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unresolved Staff Comments 13 Item 1C. Cybersecurity 13 Item 2.

Properties

Properties 14 Item 3.

Legal Proceedings

Legal Proceedings 14 Item 4. Mine Safety Disclosures 14 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15 Item 6. [Reserved] 15 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 20 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 21 Item 9. Changes in Disagreements with Accountants on Accounting and Financial Disclosure 37 Item 9A.

Controls and Procedures

Controls and Procedures 37 Item 9B. Other Information 37 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 37 PART III. Item 10. Directors, Executive Officers and Corporate Governance 38 Item 11.

Executive Compensation

Executive Compensation 38 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 38 Item 13. Certain Relationships and Related Transactions, and Director Independence 38 Item 14. Principal Accounting Fees and Services 38 PART IV. Item 15. Exhibits, Financial Statement Schedules 39 Item 16. Form 10-K Summary 41

Signatures

Signatures 42 1 Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K, including documents incorporated herein by reference, contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements include, but are not limited to: any projections of net sales, earnings, or outlook for fiscal year 2025, and other financial items; any statements of the strategies, plans and objectives of management for future operations; expectations in connection with the Company's previously announced business optimization plan; any statements concerning proposed new products or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements can be identified by their use of such words as "may," "will," "estimate," "intend," "continue," "believe," "expect," or "anticipate" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could c

Business

Item 1. Business Company Background Dynatronics Corporation is a leading medical device company committed to providing high-quality restorative products designed to accelerate achieving optimal health. The Company designs, manufactures, and sells a broad range of products for clinical use in physical therapy, rehabilitation, orthopedics, pain management, and athletic training. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, and hospitals. The Company's products are marketed under a portfolio of high-quality, well-known industry brands including Bird & Cronin, Solaris, Hausmann, PROTEAM, and Mammoth, among others. Unless the context otherwise requires, all references in this report to "registrant," "we," "us," "our," "Dynatronics," or the "Company" refer to Dynatronics Corporation, a Utah corporation, and our wholly owned subsidiaries. In this report, unless otherwise expressly indicated, references to "dollars" and "

View Full Filing

View this 10-K filing on SEC EDGAR