PRO DEX INC Files Q1 2025 10-Q

TL;DR

PRO DEX INC Q1 2025 10-Q filed. Financials updated.

AI Summary

PRO DEX INC filed its 10-Q for the period ending September 30, 2024. The filing covers the first quarter of fiscal year 2025. Key financial data points and balance sheet information as of June 30, 2024, and September 30, 2024, are included.

Why It Matters

This filing provides investors with an update on PRO DEX INC's financial performance and position for the first quarter of fiscal year 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• Q1 2025 — Fiscal Quarter (Period covered by the 10-Q filing)
• 2024-09-30 — Reporting Period End (The end date for the financial information presented)
• 2024-06-30 — Previous Fiscal Year End (Balance sheet date for comparison)
• 2023-09-30 — Prior Year Comparable Period (For year-over-year comparison of financial results)

Key Players & Entities

• PRO DEX INC (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• 2025-01-01 (date) — Start of fiscal year 2025
• 2024-06-30 (date) — Previous fiscal year end
• 2023-09-30 (date) — Prior year comparable period end

FAQ

Filing Documents

• pdex_10q-093024.htm (10-Q) — 563KB
• ex31x1.htm (EX-31.1) — 9KB
• ex31x2.htm (EX-31.2) — 8KB
• ex32.htm (EX-32) — 6KB
• 0001079973-24-001462.txt ( ) — 3590KB
• pdex-20240930.xsd (EX-101.SCH) — 33KB
• pdex-20240930_cal.xml (EX-101.CAL) — 50KB
• pdex-20240930_def.xml (EX-101.DEF) — 86KB
• pdex-20240930_lab.xml (EX-101.LAB) — 272KB
• pdex-20240930_pre.xml (EX-101.PRE) — 225KB
• pdex_10q-093024_htm.xml (XML) — 414KB

— FINANCIAL

PART I — FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS (Unaudited)

FINANCIAL STATEMENTS (Unaudited) 1 Condensed Consolidated Balance Sheets as of September 30, 2024 and June 30, 2024 1 Condensed Consolidated Statements of Operations for the Three September 30, 2024 and June 30, 2024 2 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 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

— OTHER

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 ITEM 6. EXHIBITS 30

SIGNATURES

SIGNATURES 31 PART I — FINANCIAL INFORMATION

FINANCIAL

ITEM 1. FINANCIAL PRO-DEX, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share amounts) September 30, 2024 June 30, 2024 ASSETS Current Assets: Cash and cash equivalents $ 3,081 $ 2,631 Investments 4,738 4,217 Accounts receivable, net of allowance for credit losses of $ 3 and $ 0 at September 30, 2024 and at June 30, 2024, respectively 13,456 13,887 Deferred costs 211 262 Inventory 16,604 15,269 Prepaid expenses and other current assets 412 345 Total current assets 38,502 36,611 Land and building, net 6,132 6,155 Equipment and leasehold improvements, net 5,183 5,024 Right-of-use asset, net 1,370 1,473 Intangibles, net 47 54 Deferred income taxes 1,555 1,555 Investments 1,475 1,563 Other assets 44 42 Total assets $ 54,308 $ 52,477 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 4,442 $ 4,513 Accrued liabilities 4,019 3,359 Income taxes payable 423 632 Deferred revenue — 14 Notes payable 2,401 4,374 Total current liabilities 11,285 12,892 Lease liability, net of current portion 1,063 1,182 Notes payable, net of current portion 11,083 7,536 Total non-current liabilities 12,146 8,718 Total liabilities 23,431 21,610 Shareholders' Equity: Common stock; no par value; 50,000,000 shares authorized; 3,297,510 and 3,363,412 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively 1,461 3,917 Retained earnings 29,416 26,950 Total shareholders' equity 30,877 30,867 Total liabilities and shareholders' equity $ 54,308 $ 52,477 The accompanying notes are an integral part of these condensed consolidated financial statements. PRO-DEX, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except share and per share amounts) Three Months Ended September 30, 2024 2023 Net sales $ 14

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