Pro-Dex, Inc. Announces Fiscal 2026 Third Quarter and Nine Month Results

About this update from Pro-dex, Inc.

[{"type":"text","content":"IRVINE, CA / ACCESS Newswire / April 30, 2026 / PRO-DEX, INC. (NasdaqCM:PDEX) today announced financial results for its fiscal 2026 third quarter ended March 31, 2026. The Company also filed its Quarterly Report on Form 10-Q for the third quarter of fiscal year 2026 with the Securities and Exchange Commission today.Quarter Ended March 31, 2026Net sales for the three months ended March 31, 2026, increased $2.5 million, or 15%, to $19.9 million from $17.4 million for the three months ended March 31, 2025, primarily due to an increase in shipments in the amount of $4.7 million of our largest customer's next generation orthopedic handpiece offset by a decrease in repair revenue of $2.4 million similarly generated from our largest customer. We also recognized $345,000 more NRE and prototype revenue during the three months ended March 31, 2026 as compared to the corresponding period of the prior fiscal year.Gross profit for the three months ended March 31, 2026, increased $335,000, or 6%, to $6.1 million from $5.8 million for the same period in fiscal 2025. Gross margin decreased by 2 percentage points to 31% for the three months ended March 31, 2026, compared to 33% for the corresponding period of the prior fiscal year. The decrease in gross margin is primarily due to an unfavorable product mix.Operating expenses (which include selling, general and administrative, and research and development expenses) for the quarter ended March 31, 2026, increased $881,000, or 41%, to $3.0 million compared to $2.2 million in the prior fiscal year's corresponding quarter, reflecting increases in selling, general and administrative expenses mostly due to higher expenses related to the acquisition of Advanced Precision Machining, LLC (\"APM\") as well as increased personnel related expenses and includes approximately $200,000 in non-recurring legal and consulting fees related to the APM acquisition offset by lower research and development expenditures.Operating income for the quarter ended March 31, 2026, decreased $546,000, or 15%, to $3.1 million compared to $3.6 million for the prior fiscal year's corresponding quarter. The decrease is attributable to higher general and administrative expenses related to increased personnel costs, professional fees incurred related to our APM acquisition (which are non-recurring), as well as the inclusion of APM's ...

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