PRO DEX INC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>PRO DEX INC filed its quarterly 10-Q report for the period ending March 31, 2024, detailing financial performance and operational updates.</b>

AI Summary

PRO DEX INC (PDEX) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. PRO DEX INC reported financial results for the period ending March 31, 2024. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on June 30th. The filing covers the period from January 1, 2024, to March 31, 2024. Previous periods reported include Q3 2023 and the nine months ending March 31, 2023.

Why It Matters

For investors and stakeholders tracking PRO DEX INC, this filing contains several important signals. This 10-Q filing provides investors with an updated view of PRO DEX INC's financial health and operational progress for the most recent quarter. Understanding the details within this report is crucial for assessing the company's current performance, identifying trends, and making informed investment decisions.

Risk Assessment

Risk Level: medium — PRO DEX INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, without specific financial data or significant disclosures within the provided text, the risk level is assessed as medium due to the inherent uncertainties in any public company filing.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the full 10-Q filing to identify any significant changes in revenue, profitability, or operational risks.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 0630 — Fiscal Year End Month/Day (FISCAL YEAR END)
• 2024-01-01 to 2024-03-31 — Current Quarter (Filing Period)
• 2023-01-01 to 2023-03-31 — Prior Year Quarter (Filing Period)
• 2023-07-01 to 2024-03-31 — Year-to-Date (Current) (Filing Period)
• 2022-07-01 to 2023-03-31 — Year-to-Date (Prior) (Filing Period)

Key Players & Entities

• PRO DEX INC (company) — FILER
• 0001079973-24-000639 (other) — ACCESSION NUMBER
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240502 (date) — FILED AS OF DATE
• 3841 (other) — STANDARD INDUSTRIAL CLASSIFICATION
• 949-769-3231 (phone) — BUSINESS PHONE
• 20151110 (date) — DATE OF NAME CHANGE
• 20151104 (date) — DATE OF NAME CHANGE

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2023-10-06: Previous Filing Date — Indicates a prior filing date, likely for a previous period's report.

Filing Documents

• pdex_10q-033124.htm (10-Q) — 824KB
• ex31x1.htm (EX-31.1) — 9KB
• ex31x2.htm (EX-31.2) — 8KB
• ex32.htm (EX-32) — 6KB
• 0001079973-24-000639.txt (&nbsp;) — 4632KB
• pdex-20240331.xsd (EX-101.SCH) — 37KB
• pdex-20240331_cal.xml (EX-101.CAL) — 55KB
• pdex-20240331_def.xml (EX-101.DEF) — 120KB
• pdex-20240331_lab.xml (EX-101.LAB) — 302KB
• pdex-20240331_pre.xml (EX-101.PRE) — 254KB
• pdex_10q-033124_htm.xml (XML) — 695KB

FINANCIAL STATEMENTS (Unaudited)

FINANCIAL STATEMENTS (Unaudited) 1 Condensed Consolidated Balance Sheets as of March 31, 2024 and June 30, 2023 1 Condensed Consolidated Income Statements for the Three and Nine Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Shareholders' Equity for the Three and Nine Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2024 and 2023 4 Notes to Condensed Consolidated Financial Statements 6 ITEM 2 .

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20 ITEM 3 .

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 25 ITEM 4 .

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 25 PART II — OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 29 ITEM 1A.

RISK FACTORS

RISK FACTORS 29 ITEM 2 . UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 30

OTHER

ITEM 5. OTHER INFORMATION 30

EXHIBITS

ITEM 6. EXHIBITS 30

SIGNATURES

SIGNATURES 31 i PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PRO-DEX, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share amounts) March 31, 2024 June 30, 2023 ASSETS Current Assets: Cash and cash equivalents $ 3,219 $ 2,936 Investments 4,577 1,134 Accounts receivable, net of allowance for expected credit losses of $ 1 and $ 0 at March 31, 2024 and at June 30, 2023, respectively 12,516 9,952 Deferred costs 331 494 Inventory 14,242 16,167 Prepaid expenses and other current assets 1,072 296 Total current assets 35,957 30,979 Land and building, net 6,179 6,249 Equipment and leasehold improvements, net 5,191 5,079 Right of use asset, net 1,575 1,872 Intangibles, net 61 81 Investments 1,543 7,521 Other assets 42 42 Total assets $ 50,548 $ 51,823 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 3,435 $ 2,261 Accrued expenses 2,701 3,135 Deferred revenue 35 — Income taxes payable 390 453 Note payable 3,858 3,827 Total current liabilities 10,419 9,676 Lease liability, net of current portion 1,299 1,638 Deferred income taxes, net 8 8 Notes payable, net of current portion 7,884 8,911 Total non-current liabilities 9,191 10,557 Total liabilities 19,610 20,233 Shareholders' equity: Common shares; no par value; 50,000,000 shares authorized; 3,451,423 and 3,545,309 shares issued and outstanding at March 31, 2024 and June 30, 2023, respectively 5,575 6,767 Retained earnings 25,363 24,823 Total shareholders' equity 30,938 31,590 Total liabilities and shareholders' equity $ 50,548 $ 51,823 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 PRO-DEX, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited) (In thousands, except per share amounts) Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 (

View Full Filing

View this 10-Q filing on SEC EDGAR