PDEXNasdaqSurgical & Medical Instruments & ApparatusUS GAAP · USD

Pro-Dex, Inc

PRO-DEX, Inc. designs and manufactures precision medical devices and components used in surgical and dental applications. The company is based in the United States and serves healthcare equipment customers through a focused portfolio of engineered instruments, motors, and related assemblies.

Revenue77.5m USD
+16.5 %y/y
Operating profit (EBIT)13.0m USD
+21.5 %y/y
EBIT margin16.8%
+0.7 ppy/y
Net income13.7m USD
+52.2 %y/y
Free cash flow6.8m USD
+330.8 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

020406080m USD2021: 38 m USD2021: EBIT 4.5 m USD20212022: 42 m USD2022: EBIT 5.1 m USD20222023: 46 m USD2023: EBIT 5.8 m USD20232024: 54 m USD2024: EBIT 7.2 m USD20242025: 67 m USD2025: EBIT 11 m USD20252026: 78 m USD2026: EBIT 13 m USD20267813
RevenueOperating profit (EBIT)

Business

Share of revenue
Handpieces45 %

Reusable and disposable handpieces used in surgical and dental procedures.

Motors and drive systems25 %

Micro-motors and related drive assemblies incorporated into medical devices.

OEM components20 %

Engineered parts and subassemblies sold to medical device manufacturers.

Custom medical assemblies10 %

Application-specific assemblies built to customer specifications for healthcare equipment.

Customers

PRO-DEX sells primarily to original equipment manufacturers that incorporate its components into finished medical devices. Its end markets are concentrated in surgical and dental equipment, where customers value precision, reliability, and the ability to meet device specifications and regulatory requirements.

Medical device OEMs

Buy engineered components and assemblies for incorporation into branded devices.

Dental equipment manufacturers

Purchase handpieces and related precision products used in dental procedures.

Surgical equipment manufacturers

Source motors, drive systems, and assemblies for surgical applications.

Strategy

The company’s strategic position depends on maintaining precision manufacturing capabilities and long-term OEM relationships in regulated medical end markets. Its priorities are likely centered on product quality, customer qualification, and the ability to support specialized device programs over time.

Precision manufacturing and quality controlShort term

Medical device customers require consistent performance and low defect rates.

Deepen OEM customer integrationMedium term

Design-in relationships can create recurring demand and switching costs.

Specialized medical end-market focusLong term

Niche surgical and dental applications can support differentiation versus commoditized suppliers.

Geography

PRO-DEX is headquartered in the United States and its business is tied to U.S.-based manufacturing and customer relationships. The available disclosures do not provide a country revenue split, so the company should be viewed as primarily U.S.-centric with exposure to any international OEM demand it may serve through export or indirect channels.

Risks

PRO-DEX faces the typical risks of a specialized medical device supplier, including customer concentration, qualification risk, and dependence on OEM demand cycles. Because its products are used in regulated healthcare applications, quality issues, supply interruptions, or design changes at customers can quickly affect orders and program continuity.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Customer concentration1Customer design changes and program loss2Product quality and regulatory compliance3Supply chain and manufacturing disruption4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Customer concentrationImpact: HighLikelihood: Medium

    A limited number of OEM relationships can create revenue volatility if a program is lost or delayed.

    Exposure: Medical device OEM accounts

  2. Customer design changes and program lossImpact: HighLikelihood: Medium

    OEMs can redesign products or switch suppliers after qualification cycles.

    Exposure: Handpieces and assemblies

  3. Product quality and regulatory complianceImpact: HighLikelihood: Low

    Medical device components must meet strict specifications and quality standards.

    Exposure: Surgical and dental applications

  4. Supply chain and manufacturing disruptionImpact: MediumLikelihood: Low

    Precision manufacturing depends on stable sourcing, tooling, and production execution.

    Exposure: OEM component production

Accounting

Judgemental items
Revenue recognition

Medical device sales may be recognized at shipment or upon acceptance depending on contract terms.

Impact: Affects quarterly revenue timing and comparability

Inventory valuation and obsolescence

Specialized components can become obsolete if customer designs change or demand slows.

Impact: Can require reserves that reduce gross profit

Warranty and quality reserves

Precision medical products may require accruals for returns, repairs, or field issues.

Impact: Affects operating expenses and margins

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026