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

Pro-Dex, Inc. reported financial results for the third quarter and nine months ended March 31, 2026. For the third quarter, net sales increased by 15% to $19.9 million, driven by higher shipments of a next-generation orthopedic handpiece, partially offset by a decrease in repair revenue. Gross profit rose by 6% to $6.1 million, though gross margin decreased to 31% due to an unfavorable product mix. Operating expenses increased by 41% to $3.0 million, mainly due to higher selling, general, and administrative expenses related to the acquisition of Advanced Precision Machining, LLC (APM). Operating income decreased by 15% to $3.1 million. Net income for the quarter was $3.9 million, or $1.20 per diluted share, which included a $2.3 million realized gain from contingent value rights. For the nine months ended March 31, 2026, net sales increased by 16% to $57.1 million. Operating income increased by 1% to $9.5 million, and net income was $10.8 million, or $3.27 per diluted share. The nine-month net income included a $9.1 million realized gain related to an investment in Monogram Technologies, Inc.