PRO DEX INC

PDEX · Surgical & Medical Instruments & Apparatus · 3.2M shares · -3%/yr ↓ buyback · EDGAR filings ↗

Net buyback after stock comp: $3M (gross $4M, SBC $605K)

Reference price $62.09 · est. market cap ~$198M — last insider sale, 2026-05-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B76

Surgical-device (motor/driver) maker with strong margins, returns, growth, and low leverage.

Strengths

Strong margins/returns — operating margin 16% (87th), net margin 13% (88th), ROA 15% (95th)
Strong growth — revenue +24%, net income +322%
Solid balance sheet — current ratio 3.2, D/E 0.4

Risks

Customer concentration — per 10-K
Negative operating cash flow this period (working capital) — OCF margin -3%
Small scale — per 10-K

Notable findings

Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
Customer concentration~100% of revenue from one customer/distributor — 16 Results of Operations for the Fiscal Year Ended June 30, 2025 Compared to the Fiscal Year Ended June 30, 2024 The following tables set forth results from operations for the fiscal years ended
Exec changeRecent 8-K item 5.02 8-K ↗
Buying back stockNet buyback — share count -3%/yr over 4y
New fund positionNotable fund(s) opened this quarter: CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC
AccumulatingInstitutional holders rose 4→5 QoQ (2025-12-31→2026-03-31)
Insider sellingInsider selling — 6 open-market sale(s) by 1 insider(s) (~$626,248, last 6mo) Form 4 ↗
Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)

Quarterly revenue

2025-06-30 · $17M2025-09-30 · $19M2025-12-31 · $19M2026-03-31 · $20M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

29.3%

Operating margin

16.1%

Net margin

13.5%

Return on equity

24.5%

Return on assets

14.7%

ROIC

16.2%

Revenue growth (QoQ)

6.9%

Net-income growth

322.1%

Debt / equity

0.4×

Net debt / EBITDA

0.7×

Current ratio

3.2×

EBITDA

$12M

Tangible book value

$37M

Cash & investments

$7M

Stock comp / revenue

0.8%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-05-22	Van Kirk Richard Lee Jr	Sell	2.8K	$62.09
2026-05-22	Van Kirk Richard Lee Jr	Sell	50	$63.63
2026-05-22	Van Kirk Richard Lee Jr	Sell	1.3K	$62.93
2026-05-21	Van Kirk Richard Lee Jr	Sell	3.4K	$62.96
2026-05-21	Van Kirk Richard Lee Jr	Sell	1.9K	$62.22
2026-05-21	Van Kirk Richard Lee Jr	Sell	550	$63.92
2026-01-22	Domingo Angelita Rebamontan	Grant	18	$34.36
2025-11-21	Philp Katrina Marie Kramer	Grant	900	$32.73
2025-11-21	Philp Katrina Marie Kramer	Grant	2.2K	$32.70
2025-11-20	CABILLOT RAYMOND E	Grant	1.0K	—
2025-11-20	Farrell William James III	Grant	1.0K	—
2025-11-20	Van Kirk Richard Lee Jr	Tax withheld	72	$30.83
2025-11-20	Swenson Nicholas John	Grant	1.0K	—
2025-11-20	Philp Katrina Marie Kramer	Grant	1.0K	—
2025-11-20	HOVDA DAVID	Grant	1.0K	—
2025-11-20	Domingo Angelita Rebamontan	Tax withheld	72	$30.83
2025-11-20	Domingo Angelita Rebamontan	Grant	1.0K	—
2025-11-20	Charlton Alisha	Tax withheld	72	$30.83
2025-11-20	Charlton Alisha	Grant	1.0K	—
2025-07-24	Domingo Angelita Rebamontan	Grant	15	$42.34
2025-04-02	Swenson Nicholas John	Sell	1.9K	—
2025-04-02	Swenson Nicholas John	Sell	2.6K	—
2025-04-01	CABILLOT RAYMOND E	Sell	7.3K	$50.01
2025-03-31	CABILLOT RAYMOND E	Sell	836	$50.00
2025-03-28	CABILLOT RAYMOND E	Sell	842	$50.00
2025-03-26	CABILLOT RAYMOND E	Sell	3.1K	$50.13
2025-03-25	CABILLOT RAYMOND E	Sell	12K	$50.25
2025-03-25	CABILLOT RAYMOND E	Sell	452	$51.08
2025-03-24	CABILLOT RAYMOND E	Sell	2.8K	$50.00
2025-03-20	CABILLOT RAYMOND E	Sell	1.1K	$50.00
2025-03-19	CABILLOT RAYMOND E	Sell	1.0K	$50.00
2025-03-14	CABILLOT RAYMOND E	Sell	5.2K	$50.00
2025-03-11	CABILLOT RAYMOND E	Sell	5.1K	$45.06
2025-03-10	CABILLOT RAYMOND E	Sell	7.7K	$45.00
2025-01-30	CABILLOT RAYMOND E	Sell	1.1K	$45.01
2025-01-28	CABILLOT RAYMOND E	Sell	5.4K	$41.64
2025-01-27	CABILLOT RAYMOND E	Sell	8.1K	$41.62
2025-01-24	CABILLOT RAYMOND E	Sell	1.4K	$41.44
2025-01-23	CABILLOT RAYMOND E	Sell	835	$42.00
2025-01-23	Domingo Angelita Rebamontan	Grant	15	$41.11
2025-01-22	CABILLOT RAYMOND E	Sell	1.3K	$42.02
2025-01-22	CABILLOT RAYMOND E	Sell	66	$44.50
2025-01-22	CABILLOT RAYMOND E	Sell	947	$43.02
2025-01-21	CABILLOT RAYMOND E	Sell	4.3K	$44.71
2025-01-21	CABILLOT RAYMOND E	Sell	2.6K	$46.06
2025-01-17	CABILLOT RAYMOND E	Sell	2.8K	$44.40
2025-01-17	CABILLOT RAYMOND E	Sell	4.0K	$45.18
2025-01-16	CABILLOT RAYMOND E	Sell	1.5K	$44.24
2025-01-15	CABILLOT RAYMOND E	Sell	1.9K	$45.18
2025-01-14	CABILLOT RAYMOND E	Sell	1.1K	$45.18
2025-01-13	CABILLOT RAYMOND E	Sell	3.6K	$46.66
2025-01-10	CABILLOT RAYMOND E	Sell	1.2K	$47.76

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (0)

Suppliers (3)

Fischer Connectors
Portescap
Tadiran Batteries

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-06-17	Reg FDExhibits	filing ↗
2026-04-30	ResultsExhibits	filing ↗
2026-03-27	Exec/director change	filing ↗
2026-02-12	Material agreementAcquisition/dispositionDebt obligationReg FDExhibits	filing ↗
2026-01-29	ResultsExhibits	filing ↗
2025-12-19	Exec/director changeOtherExhibits	filing ↗
2025-11-21	Exec/director changeShareholder voteExhibits	filing ↗
2025-10-30	ResultsExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-17	2026-06-17	0001079973-26-000854 ↗
10-Q	2026-04-30	2026-03-31	0001079973-26-000580 ↗
8-K	2026-04-30	2026-04-30	0001079973-26-000581 ↗
8-K	2026-03-27	2026-03-23	0001079973-26-000372 ↗
8-K	2026-02-12	2026-02-09	0001079973-26-000201 ↗
10-Q	2026-01-29	2025-12-31	0001079973-26-000140 ↗
8-K	2026-01-29	2026-01-29	0001079973-26-000141 ↗
8-K	2025-12-19	2025-12-18	0001079973-25-001880 ↗
8-K	2025-11-21	2025-11-20	0001553350-25-000115 ↗
8-K	2025-10-30	2025-10-30	0001079973-25-001656 ↗
10-Q	2025-10-30	2025-09-30	0001079973-25-001655 ↗
8-K	2025-09-04	2025-09-04	0001079973-25-001427 ↗