Medinotec Inc.
MDNC · Surgical & Medical Instruments & Apparatus · 11.8M shares · +5%/yr ↑ shares · EDGAR filings ↗
Grade
B70Medical-device company — profitable with positive free cash flow and strong coverage.
Strengths
- Profitable with positive FCF — operating margin 11% (81st), ROA 12% (93rd), FCF $0.9M (70th)
- Strong coverage and liquidity — interest coverage 12.5 (94th), current ratio 5.8 (79th)
Risks
- Micro-cap scale/concentration risk — per 10-K
- Geographic-concentration risk — per 10-K
- Competition — per 10-K
Notable findings
- Customer concentration~89% of revenue from one customer/distributor — In particular, sales to DISA Life Sciences in South Africa represented approximately 89% of our total revenue for the fiscal year ended February 28, 2026
- Revenue declineRevenue -28.2% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
52.7%
Operating margin
11.2%
Net margin
8.2%
Return on equity
13.9%
Return on assets
11.7%
Revenue growth (QoQ)
-28.2%
Net-income growth
-63.2%
Interest coverage
12.5×
Current ratio
5.8×
Free cash flow
$905K
EBITDA
$1M
Tangible book value
$6M
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-K | 2026-05-28 | 2026-02-28 | 0001663577-26-000175 ↗ |
| 8-K | 2026-01-20 | 2026-01-20 | 0001663577-26-000020 ↗ |
| 10-Q | 2026-01-09 | 2025-11-30 | 0001663577-26-000005 ↗ |
| 10-Q | 2025-10-08 | 2025-08-31 | 0001663577-25-000293 ↗ |
| 10-Q | 2025-07-16 | 2025-05-31 | 0001663577-25-000240 ↗ |
| 10-K | 2025-05-29 | 2025-02-28 | 0001663577-25-000171 ↗ |
| 8-K | 2025-01-27 | 2025-01-20 | 0001663577-25-000038 ↗ |
| 10-Q | 2025-01-14 | 2024-11-30 | 0001663577-25-000018 ↗ |
| 10-Q | 2024-10-15 | 2024-08-31 | 0001663577-24-000263 ↗ |
| 10-Q | 2024-07-12 | 2024-05-31 | 0001663577-24-000191 ↗ |
| 8-K | 2024-07-10 | 2024-07-08 | 0001663577-24-000179 ↗ |
| 10-K | 2024-07-05 | 2024-02-29 | 0001663577-24-000168 ↗ |