PRO DEX INC Files 10-Q for Q2 2025

TL;DR

PRO DEX INC 10-Q filed. Q2 FY25 numbers in.

AI Summary

PRO DEX INC filed its 10-Q for the period ending December 31, 2024. The company, located at 2361 McGaw Avenue, Irvine, CA, operates in the Surgical & Medical Instruments & Apparatus sector. The filing covers the second quarter of fiscal year 2025, with financial data reported as of December 31, 2024.

Why It Matters

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

Risk Assessment

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

Key Players & Entities

• PRO DEX INC (company) — Filer of the 10-Q
• 2361 MCGAW AVENUE, IRVINE, CA (location) — Business and mailing address
• 3841 (industry_code) — Standard Industrial Classification for Surgical & Medical Instruments & Apparatus
• 20241231 (date) — End of the reporting period
• 20250130 (date) — Date of filing

FAQ

Key Financial Figures

• $1,250,000 — gram Warrant") in full in cash totaling $1,250,000 and received 1,828,551 shares of Monogr
• $1.3 million — rice of $ 6.5 million, of which we paid $1.3 million in cash and the balance of $5.2 million
• $5.2 million — $1.3 million in cash and the balance of $5.2 million we financed (the "Property Loan") throu

Filing Documents

• pdex_10q12312024.htm (10-Q) — 730KB
• ex31x1.htm (EX-31.1) — 8KB
• ex31x2.htm (EX-31.2) — 8KB
• ex32x1.htm (EX-32.1) — 5KB
• 0001079973-25-000164.txt ( ) — 4144KB
• pdex-20241231.xsd (EX-101.SCH) — 33KB
• pdex-20241231_cal.xml (EX-101.CAL) — 47KB
• pdex-20241231_def.xml (EX-101.DEF) — 99KB
• pdex-20241231_lab.xml (EX-101.LAB) — 283KB
• pdex-20241231_pre.xml (EX-101.PRE) — 235KB
• pdex_10q12312024_htm.xml (XML) — 584KB

— FINANCIAL

PART I — FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS (Unaudited)

FINANCIAL STATEMENTS (Unaudited) 1 Condensed Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024 1 Condensed Consolidated Statements of Operations for the Three and Six Months Ended December 31, 2024 and 2023 2 Condensed Consolidated Statements of Shareholders' Equity for the Three and Six Months Ended December 31, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the Six Months Ended December 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 15 ITEM 3 .

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 23 ITEM 4 .

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 23

— OTHER

PART II — OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 24 ITEM 1A.

RISK FACTORS

RISK FACTORS 24 ITEM 2 . UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 24

OTHER

ITEM 5. OTHER INFORMATION 25 ITEM 6. EXHIBITS 25

SIGNATURES

SIGNATURES 26 i PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PRO-DEX, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands except per share amounts) December 31, 2024 June 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 66 $ 2,631 Investments 4,671 4,217 Accounts receivable, net of allowance for expected credit losses of $ 27 and $ 0 at December 31, 2024 and at June 30, 2024, respectively 18,467 13,887 Deferred costs 152 262 Inventory 19,611 15,269 Prepaid expenses and other current assets 1,333 345 Total current assets 44,300 36,611 Land and building, net 6,108 6,155 Equipment and leasehold improvements, net 5,443 5,024 Right-of-use asset, net 1,265 1,473 Intangibles, net 40 54 Deferred income taxes, net 1,555 1,555 Investments 1,619 1,563 Other assets 44 42 Total assets $ 60,374 $ 52,477 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,689 $ 4,513 Accrued liabilities 5,234 3,359 Income taxes payable 303 632 Deferred revenue — 14 Notes payable 5,913 4,374 Total current liabilities 17,139 12,892 Lease liability, net of current portion 939 1,182 Notes payable, net of current portion 10,474 7,536 Total non-current liabilities 11,413 8,718 Total liabilities 28,552 21,610 Shareholders' equity: Common stock; no par value; 50,000,000 shares authorized; 3,260,390 and 3,363,412 shares issued and outstanding at December 31, 2024 and June 30, 2024, respectively 366 3,917 Retained earnings 31,456 26,950 Total shareholders' equity 31,822 30,867 Total liabilities and shareholders' equity $ 60,374 $ 52,477 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 PRO-DEX, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except share and per share amounts) Three Months Ended December 31, Six Months Ended

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