Announcement • Jan 10
Dynatronics Corporation Filed for Bankruptcy Dynatronics Corporation along with its three affiliates, filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the District of Minnesota on January 9, 2026. The debtor listed its assets of $1.07 million and liabilities of $3.30 million. The debtor is represented by Robert J Haupt of Haupt Law PC as its legal counsel. Patti J. Sullivan has been appointed as the case trustee. Announcement • Nov 18
Dynatronics Corporation announced delayed 10-Q filing On 11/17/2025, Dynatronics Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Oct 30
Dynatronics Corporation, Annual General Meeting, Dec 11, 2025 Dynatronics Corporation, Annual General Meeting, Dec 11, 2025. Location: 1200 trapp road, mn 55121, eagen United States Announcement • Oct 16
Dynatronics Corporation Auditor Raises 'Going Concern' Doubt Dynatronics Corporation filed its Annual on Oct 14, 2025 for the period ending Jun 30, 2025. In this report its auditor, Tanner LLC, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Announcement • Sep 27
Dynatronics Corporation announced delayed annual 10-K filing On 09/26/2025, Dynatronics Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • May 10
Dynatronics Corporation Appoints Ryan Staats as Chief Operating Officer On May 9, 2025, the Dynatronics Corporation announced the appointment of Ryan Staats, 45, as its Chief Operating Officer. Prior to this role, Mr. Staats served as Vice President, Operations and Supply Chain for the Company from 2022 to 2025. Prior to joining Dynatronics, he served as the Director of Supply Chain Operations at SeaSpine Inc. While at SeaSpine, Ryan led cost savings projects within Supply Chain and Distribution. He managed third party logistic providers in the US as well as globally. Earlier in his career, Mr. Staats worked at Integra Lifesciences Holdings Corp. where he led the Spinal Implant distribution center in Akron, Ohio as well as managed the field consignment inventory. He has been in the medical device industry for over 17 years where he has gained an understanding of quality control, regulatory compliance and operations in a highly regulated industry. Mr. Staats holds a B.S. in Business Administration/Finance from the University of Akron. Announcement • Apr 18
Dynatronics Corporation Announces Chief Financial Officer Changes, Effective as of May 9, 2025 On April 15, 2025 Gabe Ellwein informed Dynatronics Corporation (the "Company") of his decision to resign as Chief Financial Officer (principal financial officer and principal accounting officer) of the Company, effective as of May 9, 2025, to pursue other professional interests. In connection with Mr. Ellwein's resignation, the Company's Board of Directors has appointed Brian Baker as Chief Financial Officer (principal financial officer and principal accounting officer) of the Company, effective as of May 9, 2025. Mr. Baker, 58, has served as the Company's President since May 18, 2023, and as the Company's Chief Executive Officer and member of the Board of Directors since October 1, 2023. Mr. Baker first joined the Company as President of Therapy Products in February 2018. He served as Chief Operating Officer from May 2019 until his promotion to Chief Executive Officer in August 2019. Mr. Baker held that position until July 2020, when he resigned due to health issues relating to the COVID-19 virus. Following his resignation as Chief Executive Officer, Mr. Baker continued as a member of the Board and a consultant to the Company until his appointment as Chief Operating Officer in January 2022. Prior to joining the Company, Mr. Baker was Vice President of Global Operations of Seaspine Holdings Corporation from July 2015 to January 2018, where he also worked as Vice President of Operations of the SeaSpine business within Integra LifeSciences Corporation from March 2015 to July 2015. From November 2013 until March 2015, he was an industry consultant advising on mergers and acquisitions and providing business process optimization services. He holds a B.A. degree in business from the University of Phoenix. Announcement • Oct 28
Dynatronics Corporation, Annual General Meeting, Dec 05, 2024 Dynatronics Corporation, Annual General Meeting, Dec 05, 2024. Location: 1200 trapp road, minnesota 55121, eagan United States Announcement • Sep 25
Brian M. Larkin Resigns as Member of the Board of Directors of Dynatronics Corporation On September 23, 2024, Brian M. Larkin tendered his resignation as a director of Dynatronics Corporation to the Company's Board of Directors (the "Board"). At the time of his resignation, Mr. Larkin was serving as Chairman of the Compensation Committee and as a member of the Nominating and Governance Committee. Announcement • Jul 11
Dynatronics Corporation(OTCPK:DYNT) dropped from S&P TMI Index Dynatronics Corporation(OTCPK:DYNT) dropped from S&P TMI Index Announcement • Jul 10
Dynatronics Corporation(OTCPK:DYNT) dropped from NASDAQ Composite Index Dynatronics Corp. has been dropped from NASDAQ Composite Announcement • Jun 28
Dynatronics Common Stock to Suspend At Open July 9, 2024 As previously disclosed, Dynatronics Corporation received written notice from The Nasdaq Stock Market that if Dynatronics' common stock failed to regain compliance with Nasdaq's minimum bid price requirement before June 24, 2024, the Company's common stock would be delisted from Nasdaq. On June 27, 2024, Dynatronics received written notice from Nasdaq that trading of the Company's common stock will be suspended at the open of business on July 9, 2024 due to Dynatronics' failure to regain compliance with the minimum bid price requirement. Prior to receiving Nasdaq's written notice, the Company considered its alternatives and concluded that transitioning to The OTC Markets Group Inc. is the best course of action given recurring instances of noncompliance with Nasdaq listing requirements. OTC has approved the quotation of the Company's common stock on the OTCQB Venture Market and the Company's common stock is expected to be quoted on OTCQB immediately following its suspension of trading on Nasdaq on July 9, 2024. The ticker symbol and CUSIP for the Company's common stock is not expected to change in connection with its commencement of quotation on the OTCQB. Shareholders of the Company's common stock are not required to take any action. The Company will continue to remain a reporting company under the Securities Exchange Act of 1934, as amended, and the transition to OTCQB is not expected to affect the Company's business operations. Reported Earnings • May 10
Third quarter 2024 earnings released: US$0.17 loss per share (vs US$0.36 loss in 3Q 2023) Third quarter 2024 results: US$0.17 loss per share (improved from US$0.36 loss in 3Q 2023). Revenue: US$7.66m (down 17% from 3Q 2023). Net loss: US$851.4k (loss narrowed 40% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has fallen by 56% per year, which means it is performing significantly worse than earnings. Announcement • Apr 30
Dynatronics Receives Another Notice from the Nasdaq Stock Market LLC Regarding Confirmation of the Receipt of the Balance Due and Withdrawal of the Fee Notice On April 23, 2024, Dynatronics Corporation (the ‘Company’) received written notice (‘Fee Notice’) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (‘Nasdaq’) informing the Company that it had not paid certain fees required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5250(f). The Company's past due fee balance was $49,500 as of the date of the Fee Notice. The Fee Notice provided that if the Company elects not to appeal by April 30, 2024, then this lack of payment would lead to the suspension of the trading of the Company's common stock at the opening of business on May 2, 2024 and Nasdaq would file a Form 25-NSE with the Securities and Exchange Commission to remove the Company's securities from listing and registration on The Nasdaq Stock Market. The Company did not intend to appeal and paid the past due fees required by Nasdaq Listing Rule 5250(f) on April 24, 2024. On April 29, 2024, the Company received another notice from Nasdaq confirming the receipt of the balance due and withdrawing the Fee Notice. New Risk • Apr 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$1.7m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (US$2.69m market cap). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). Reported Earnings • Feb 08
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: US$0.27 loss per share. Revenue: US$8.15m (down 25% from 2Q 2023). Net loss: US$1.20m (loss widened 19% from 2Q 2023). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 8.0%. Announcement • Feb 08
Dynatronics Corporation Provides Sales Guidance for the Full Year 2024 Dynatronics Corporation provided sales guidance for the full year 2024. for the year, the company estimated net sales to be in the lower range of revenue estimates of $34 to $37 million, due to slower demand in the rehabilitation space. The Company expects the distribution of net sales across the quarters in fiscal year '24 to align with historical trends, which are highest in the first quarter, lower in the second and third quarters, with a bounce back in the fourth quarter. Announcement • Jan 26
Dynatronics Corporation to Report Q2, 2024 Results on Feb 08, 2024 Dynatronics Corporation announced that they will report Q2, 2024 results Pre-Market on Feb 08, 2024 Announcement • Jan 16
Dynatronics Corporation Announces Board and Committee Changes On January 12, 2024, Scott A. Klosterman tendered his resignation as a director of Dynatronics Corporation (the "Company") to the Company's Board of Directors (the "Board"). At the time of his resignation, Mr. Klosterman was serving as Chairman of the Compensation Committee and as a member of the Audit and Nominating and Governance Committees. In connection with Mr. Klosterman's resignation, the Board has appointed Brian M. Larkin to serve as the Chairman of the Compensation Committee. On January 12, 2024, the Board appointed Andrew Hulett as a director to fill the vacancy created by Mr. Klosterman's resignation to serve for a term commencing January 12, 2024 and expiring at the 2024 Annual Meeting of Shareholders of the Company and until his successor is duly elected and qualified, unless he sooner dies, retires or resigns. In connection with his appointment as a director, Mr. Hulett was also appointed by the Board to serve on the Board's Compensation, Audit and Nominating and Governance Committees. Mr. Hulett, 50, has been the principal of Common Sail Investment Group from 2004 to the present, the parent of Laurus Strategies, Empower HR and five other businesses. As principal and executive of Empower HR, an HR outsourcing services firm, he led business development and professionalizing the back office of emerging middle market businesses from 2011 through 2024, which included leading the sale of the business in 2022 and supporting transition activity with new ownership. Mr. Hulett co-founded Larus Strategies and was one of the firm's leading executives from 2004 to 2017. He led the sale of the business in 2014 and was retained to support transition activity through 2017. From 1999 to 2004, Mr. Hulett was Group Insurance Representative for Jefferson Pilot Financial, where he was recognized as sales representative of the year 5 times. Mr. Hulett attended University of Minnesota and is a graduate of Carlson School of Management. The Board believes that Mr. Hulett's extensive experience in business ownership and as a seasoned executive in business development qualify him to serve as a member of Board. New Risk • Jan 09
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$1.9m free cash flow). Earnings have declined by 13% per year over the past 5 years. Market cap is less than US$10m (US$2.66m market cap). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Announcement • Dec 29
Dynatronics Receives Non-Compliance Notice from Nasdaq As previously reported by Dynatronics Corporation (the "Company"), on June 26, 2023 the Company received a letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") notifying the Company that it was not in compliance with the Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement") because the closing bid price for the Company's common stock had closed below $1.00 per share for the previous 30 consecutive business days. The Company was provided an initial grace period to regain compliance, which ended on December 26, 2023. On December 27, 2023, the Company received notice from Nasdaq indicating that, while the Company had not regained compliance with the Minimum Bid Price Requirement, the Staff had determined that the Company was eligible for an additional 180 calendar day period, or until June 24, 2024, to regain compliance (the "Second 180 Day Compliance Period"). The Staff indicated that its determination was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the exception of the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the Second 180 Day Compliance Period by effecting a reverse stock split, if necessary. The Company notes that at its Annual Meeting of the Shareholders held on December 7, 2023, the shareholders approved the adoption of an amendment to the Company's Articles of Incorporation to effect, in the discretion of the Company's Board of Directors (the "Board"), a reverse split of the Company's outstanding common stock, at a ratio of not less than one-for-five and not more than one-for-ten, at any time within one year from the date of shareholder approval. The Board has not yet determined to effect a reverse stock split. If at any time during the Second 180 Day Compliance Period the closing bid price of the Company's common stock is at least $1.00 per share for a minimum of 10 consecutive business days, the Staff will provide written confirmation of compliance. If compliance cannot be demonstrated by June 24, 2024, the Staff will provide written notification that the Company's securities will be delisted from Nasdaq. At that time, the Company may appeal the Staff's determination to a Nasdaq hearings panel. While there can be no assurance that the Company will regain or demonstrate compliance by June 24, 2024, the Company intends to consider available options to regain compliance by that date. Major Estimate Revision • Nov 16
Consensus EPS estimates upgraded to US$0.72 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -US$0.80 to -US$0.717 per share. Revenue forecast steady at US$35.3m. Medical Equipment industry in the US expected to see average net income growth of 25% next year. Consensus price target of US$3.93 unchanged from last update. Share price fell 4.4% to US$0.52 over the past week. Reported Earnings • Nov 15
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: US$0.12 loss per share (improved from US$0.18 loss in 1Q 2023). Revenue: US$9.35m (down 22% from 1Q 2023). Net loss: US$528.0k (loss narrowed 22% from 1Q 2023). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Revenue is forecast to stay flat during the next 2 years compared to a 7.8% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Announcement • Oct 31
Dynatronics Corporation Announces CFO Changes Dynatronics Corporation announced the appointment of Gabe Ellwein as Chief Financial Officer ("CFO"), effective October 30, 2023. Ellwein will report to the company's President and Chief Executive Officer, Brian Baker, and will lead the company's finance, accounting, and investor relations teams. He succeeds John Krier whose resignation as CEO became effective on October 1 of this year and who has continued to serve as Interim Chief Financial Officer until Ellwein's appointment. Ellwein was previously the Senior Vice President Finance /Head of Finance Department for Element Electronics, an electronic and home appliance manufacturing company located in Eden Prairie, Minnesota. Prior to that his roles included Director, FPA &Pricing at Bluestem Brands and Senior Merchant Computing and Tablet Connections and Merchandise Planning at Best Buy Inc. He also held various roles at Target and Clifton Larson Allen earlier in his career. Most recently, he was a fractional CFO at a private equity-backed manufacturing company. Ellwein has experience in private equity, public, and family-owned businesses including retail, ecommerce, and manufacturing and production. His wealth of knowledge in financial planning and analysis, financial modeling, and mergers and acquisitions will help Dynatronics to continue to be a leading manufacturer in the industry. Announcement • Oct 29
Dynatronics Corporation to Report Q1, 2024 Results on Nov 09, 2023 Dynatronics Corporation announced that they will report Q1, 2024 results on Nov 09, 2023 Board Change • Oct 27
High number of new directors CEO, President & Director Brian Baker was the last director to join the board, commencing their role in 2023. Announcement • Oct 25
Dynatronics Corporation, Annual General Meeting, Dec 07, 2023 Dynatronics Corporation, Annual General Meeting, Dec 07, 2023, at 08:00 Central Standard Time. Location: 1200 Trapp Road Eagan Minnesota United States Agenda: To Elect the three director nominees named in the accompanying Proxy Statement to board of directors (the "Board"), each to serve until next annual meeting of shareholders and until her or his successor is duly elected and qualified, or until the director's earlier resignation, removal or death; and to discuss other matters. New Risk • Oct 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$2.39m market cap). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$2.1m net loss in 2 years). Share price has been volatile over the past 3 months (9.4% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Major Estimate Revision • Oct 10
Consensus estimates of losses per share improve by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$34.6m to US$35.0m. EPS estimate increased from -US$1.00 per share to -US$0.80 per share. Medical Equipment industry in the US expected to see average net income growth of 24% next year. Consensus price target down from US$5.50 to US$3.93. Share price fell 2.4% to US$0.72 over the past week. Major Estimate Revision • Oct 05
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$35.5m to US$35.0m. Losses expected to increase from US$0.68 per share to US$0.80. Medical Equipment industry in the US expected to see average net income growth of 23% next year. Consensus price target down from US$5.50 to US$4.83. Share price was steady at US$0.71 over the past week. Reported Earnings • Sep 29
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: US$1.46 loss per share (further deteriorated from US$1.32 loss in FY 2022). Revenue: US$40.6m (down 8.4% from FY 2022). Net loss: US$5.66m (loss widened 20% from FY 2022). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 64%. Revenue is expected to decline by 7.3% p.a. on average during the next 2 years, while revenues in the Medical Equipment industry in the US are expected to grow by 7.9%. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. CEO, CFO & Director John Krier was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 29
Dynatronics Receives Written Notice from Nasdaq Regarding Minimum Bid Price Requirement On June 26, 2023, Dynatronics Corporation (the "Company") received written notice ("Letter") from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") informing the Company that the closing bid price of its common stock (the "Common Stock") for the last 30 consecutive business days prior to the date of the Letter failed to comply with the $1.00 per share minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The Letter has no immediate effect on the Common Stock listing or trading on Nasdaq. Nasdaq indicated that the Company will be provided with a compliance period of 180 calendar days. The date by which the Company must gain compliance with the minimum bid price requirement is December 26, 2023 (the "Compliance Date") pursuant to Nasdaq Listing Rule 5810(c)(3)(A). If at any time before the Compliance Date, the closing bid price of the Common Stock is at least $1.00 per share for a minimum of ten consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid requirement. If the Company does not regain compliance by the Compliance Date, it may be eligible for an additional grace period, provided it meets the applicable market value of publicly held shares requirement for continued listing, and all other applicable Nasdaq standards for initial listing on the Nasdaq Capital Market, with the exception of bid price. The Company intends to actively monitor the bid price for its common stock between now and the Compliance Date, and will consider available options to resolve the deficiency and regain compliance with Nasdaq's minimum bid price requirement, but has not yet determined to take any other action in response to the notice. Major Estimate Revision • May 18
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$46.1m to US$40.0m. Forecast losses increased from -US$0.547 to -US$0.917 per share. Medical Equipment industry in the US expected to see average net income growth of 18% next year. Consensus price target down from US$13.42 to US$5.50. Share price fell 46% to US$0.77 over the past week. Reported Earnings • May 11
Third quarter 2023 earnings released: US$0.36 loss per share (vs US$0.46 loss in 3Q 2022) Third quarter 2023 results: US$0.36 loss per share (improved from US$0.46 loss in 3Q 2022). Revenue: US$9.24m (down 11% from 3Q 2022). Net loss: US$1.42m (loss narrowed 14% from 3Q 2022). Revenue is expected to decline by 5.4% p.a. on average during the next 3 years, while revenues in the Medical Equipment industry in the US are expected to grow by 8.3%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • May 11
Dynatronics Corporation to Report Q3, 2023 Results on May 11, 2023 Dynatronics Corporation announced that they will report Q3, 2023 results at 9:30 AM, US Eastern Standard Time on May 11, 2023 Reported Earnings • Feb 10
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: US$0.18 loss per share (improved from US$0.46 loss in 2Q 2022). Revenue: US$10.9m (up 3.3% from 2Q 2022). Net loss: US$667.7k (loss narrowed 59% from 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 80%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Dynatronics Corporation Provides Earnings Guidance for the Year of 2023 Dynatronics Corporation provided earnings guidance for the year of 2023. For the year, the company reaffirmed net sales guidance for fiscal year 2023 of $45 million to $48 million. The midpoint of this range is a 5% improvement over the Company's $44.3 million net sales in fiscal year ‘22. The Company expects the distribution of net sales across the quarters in fiscal year ‘23 to align with historical trends, which are in the first quarter, lower in the second and third quarters, with a bounce back in the fourth quarter. The second quarter of fiscal year 2023 continued this historical seasonality trend. Announcement • Jan 27
Dynatronics Corporation to Report Q2, 2023 Results on Feb 09, 2023 Dynatronics Corporation announced that they will report Q2, 2023 results at 9:30 AM, US Eastern Standard Time on Feb 09, 2023 Major Estimate Revision • Nov 17
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 losses forecast to reduce from -US$0.18 to -US$0.12 per share. Revenue forecast steady at US$46.5m. Medical Equipment industry in the US expected to see average net income growth of 14% next year. Consensus price target of US$2.75 unchanged from last update. Share price rose 15% to US$0.45 over the past week. Reported Earnings • Nov 16
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: US$0.036 loss per share (down from US$0.017 profit in 1Q 2022). Revenue: US$12.1m (down 2.0% from 1Q 2022). Net loss: US$676.5k (down 329% from profit in 1Q 2022). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: US$0.036 loss per share (down from US$0.017 profit in 1Q 2022). Revenue: US$12.1m (down 2.0% from 1Q 2022). Net loss: US$676.5k (down 329% from profit in 1Q 2022). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Nov 02
Dynatronics Corporation to Report Q1, 2023 Results on Nov 10, 2022 Dynatronics Corporation announced that they will report Q1, 2023 results Pre-Market on Nov 10, 2022 Announcement • Oct 06
Dynatronics Corporation, Annual General Meeting, Nov 17, 2022 Dynatronics Corporation, Annual General Meeting, Nov 17, 2022, at 08:00 Central Standard Time. Location: 1200 Trapp Road, Eagan, Minnesota 55121 Minneota United States Agenda: to consider appointment of to consider; to consider the appointment of Tanner LLC as independent registered public accounting firm for the fiscal year ending June 30, 2023. Reported Earnings • Sep 23
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: US$0.27 loss per share (down from US$0.078 profit in FY 2021). Revenue: US$44.3m (down 7.2% from FY 2021). Net loss: US$4.73m (down 491% from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.0%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Sep 23
Dynatronics Corporation Provides Sales Guidance for the Fiscal Year 2023 Dynatronics Corporation provided sales guidance for the fiscal year 2023. For the year, the company's net sales guidance of $45 million to $48 million, assuming similar procedure volume despite the impacts of COVID-19. The midpoint of this range is a 5% improvement relative to the $44.3 million net sales in fiscal year 2022. Announcement • Sep 09
Dynatronics Corporation to Report Fiscal Year 2022 Results on Sep 22, 2022 Dynatronics Corporation announced that they will report fiscal year 2022 results Pre-Market on Sep 22, 2022 Announcement • Sep 08
Dynatronics Corporation Announces Board Changes, Effective September 16, 2022 Dynatronics Corporation received notice from Skyler Black of his resignation as Corporate Controller, Corporate Secretary and Principal Accounting Officer of the Company, effective September 16, 2022, in order to pursue other professional opportunities. Mr. Black’s resignation is not related to any disagreement with the Company or due to any matter relating to the Company’s operations, policies, or practices, including accounting principles and practices. In connection with Mr. Black’s resignation, effective September 16, 2022, John Krier will assume the responsibilities of Principal Accounting Officer on an interim basis while the Company conducts its search process to identify and appoint a new Principal Accounting Officer. Mr. Krier has served as the Company’s Chief Executive Officer since July 7, 2020, and as the Company’s Chief Financial Officer since July 22, 2022, and will continue to serve in those capacities. Announcement • Aug 27
Dynatronics Corporation Receives Notice from Nasdaq for Compliance with the Minimum Bid Price Requirement On August 24, 2022, Dynatronics Corporation received notice from Nasdaq indicating that, while the Company has not regained compliance with the Minimum Bid Price Requirement, the Staff has determined that the Company is eligible for an additional 180 calendar day period, or until February 20, 2023, to regain compliance (the “Second 180 Day Compliance Period”). The Staff indicated that its determination is based on the Company meeting the continued listing requirement for market value of publicly held shares, and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the Second 180 Day Compliance Period by effecting a reverse stock split, if necessary. If at any time during the Second 180 Day Compliance Period the closing bid price of the Company’s common stock is at least $1.00 per share for a minimum of 10 consecutive business days, the Staff will provide written confirmation of compliance. If compliance cannot be demonstrated by February 20, 2023, the Staff will provide written notification that the Company’s securities will be delisted from Nasdaq. At that time, the Company may appeal the Staff’s determination to a Nasdaq hearings panel. While there can be no assurance that the Company will regain or demonstrate compliance by February 20, 2023, the Company intends to consider available options to regain compliance by that date. Price Target Changed • Jul 27
Price target increased to US$2.75 Up from US$2.18, the current price target is an average from 2 analysts. New target price is 321% above last closing price of US$0.65. Stock is down 54% over the past year. The company is forecast to post a net loss per share of US$0.24 compared to earnings per share of US$0.078 last year. Major Estimate Revision • May 19
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -US$0.20 to -US$0.24 per share. Revenue forecast unchanged at US$44.5m. Medical Equipment industry in the US expected to see average net income growth of 16% next year. Consensus price target down from US$2.18 to US$2.13. Share price rose 3.2% to US$0.64 over the past week. Reported Earnings • May 13
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: US$0.092 loss per share (down from US$0.004 loss in 3Q 2021). Revenue: US$10.3m (down 10.0% from 3Q 2021). Net loss: US$1.65m (loss widened US$1.59m from 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 3.1%, compared to a 8.8% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to US$2.12 Down from US$2.45, the current price target is an average from 3 analysts. New target price is 216% above last closing price of US$0.67. Stock is down 43% over the past year. The company is forecast to post a net loss per share of US$0.20 compared to earnings per share of US$0.078 last year. Major Estimate Revision • Feb 19
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$43.0m to US$44.3m. Forecast EPS reduced from -US$0.08 to -US$0.20 per share. Medical Equipment industry in the US expected to see average net income growth of 19% next year. Consensus price target of US$2.12 unchanged from last update. Share price fell 3.1% to US$0.80 over the past week. Major Estimate Revision • Feb 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -US$0.08 to -US$0.19 per share. Revenue forecast unchanged at US$43.1m. Medical Equipment industry in the US expected to see average net income growth of 19% next year. Consensus price target down from US$2.45 to US$2.12. Share price fell 10.0% to US$0.81 over the past week. Reported Earnings • Feb 12
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$0.091 loss per share (down from US$0.062 loss in 2Q 2021). Revenue: US$10.5m (down 12% from 2Q 2021). Net loss: US$1.62m (loss widened 79% from 2Q 2021). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 125%. Over the next year, revenue is expected to shrink by 3.6% compared to a 11% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Feb 11
Dynatronics Corporation Provides Sales Guidance for the Fiscal Year 2022 Dynatronics Corporation provided sales guidance for the fiscal year 2022. The company expects net sales in fiscal year 2022 to be $40 million to $45 million. Announcement • Jan 28
Dynatronics Corporation to Report Q2, 2022 Results on Feb 10, 2022 Dynatronics Corporation announced that they will report Q2, 2022 results Pre-Market on Feb 10, 2022 Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorated over the past week After last week's 18% share price decline to US$1.02, the stock trades at a trailing P/E ratio of 8.7x. Average forward P/E is 35x in the Medical Equipment industry in the US. Total loss to shareholders of 61% over the past three years. Reported Earnings • Nov 13
First quarter 2022 earnings released: EPS US$0.017 (vs US$0.041 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: US$12.3m (up 1.4% from 1Q 2021). Net income: US$296.0k (up US$867.9k from 1Q 2021). Profit margin: 2.4% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 16% share price gain to US$1.59, the stock trades at a trailing P/E ratio of 23.1x. Average forward P/E is 42x in the Medical Equipment industry in the US. Total loss to shareholders of 46% over the past three years. Reported Earnings • Sep 24
Full year 2021 earnings released: EPS US$0.078 (vs US$0.42 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: US$47.8m (down 11% from FY 2020). Net income: US$1.21m (up US$5.53m from FY 2020). Profit margin: 2.5% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Sep 24
Dynatronics Corporation Provides Sales Guidance for the First Quarter and Full Year 2022 Dynatronics Corporation provided sales guidance for the first quarter and full year 2022. For the year, product sales will represent products the company plans to offer moving forward since the optimization initiatives announced on April 22, 2021 were substantially completed in financial year 2021.
Net sales are on pace to achieve approximately $11.5 to $12.0 million for first quarter of 2022, which exceeds the $9.25 million quarterly continued product net sales baseline set in April 2021 and the $9.8 million continued product net sales in fourth quarter of 2021. Breakeven Date Change • May 15
No longer forecast to breakeven The 3 analysts covering Dynatronics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$1.76m in 2023. New consensus forecast suggests the company will make a loss of US$2.23m in 2023. Reported Earnings • May 15
Third quarter 2021 earnings released: US$0.004 loss per share (vs US$0.13 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: US$11.5m (down 16% from 3Q 2020). Net loss: US$64.0k (loss narrowed 95% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 26
Consensus EPS estimates fall to -US$0.27 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from US$48.8m to US$46.5m. Losses expected to increase from -US$0.21 to -US$0.27. Medical Equipment industry in the US expected to see average net income growth of 21% next year. Consensus price target of US$2.12 unchanged from last update. Share price rose 8.0% to US$1.22 over the past week. Is New 90 Day High Low • Feb 26
New 90-day high: US$1.60 The company is up 129% from its price of US$0.70 on 27 November 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$5.94 per share. Major Estimate Revision • Feb 18
Analysts lower EPS estimates to -US$0.21 The 2021 consensus revenue estimate was lowered from US$50.7m to US$48.8m. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -US$0.14 to -US$0.21 for the same period. The Medical Equipment industry in the US is expected to see an average net income growth of 25% next year. The consensus price target increased from US$1.66 to US$2.00. Share price stayed mostly flat at US$1.49 over the past week. Price Target Changed • Feb 13
Price target raised to US$2.00 Up from US$1.66, the current price target is an average from 4 analysts. The new target price is 32% above the current share price of US$1.52. As of last close, the stock is up 69% over the past year. Reported Earnings • Feb 12
Second quarter 2021 earnings released: US$0.062 loss per share (vs US$0.05 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: US$12.0m (down 21% from 2Q 2020). Net loss: US$906.3k (loss widened 102% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 12
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 13%. Over the next year, revenue is forecast to grow 13%, compared to a 21% growth forecast for the Medical Equipment industry in the US. Announcement • Jan 30
Dynatronics Corporation to Report Q2, 2021 Results on Feb 11, 2021 Dynatronics Corporation announced that they will report Q2, 2021 results on Feb 11, 2021 Is New 90 Day High Low • Jan 20
New 90-day high: US$1.15 The company is up 67% from its price of US$0.69 on 21 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$2.44 per share. Is New 90 Day High Low • Dec 25
New 90-day high: US$0.87 The company is up 30% from its price of US$0.67 on 25 September 2020. The American market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$2.31 per share. Announcement • Nov 10
Dynatronics Corporation Announces CFO Changes Dynatronics Corporation announced the appointment of Norman Roegner III as Chief Financial Officer, effective November 9, 2020. He will report to the company’s President and Chief Executive Officer, John Krier, and will lead the finance, accounting, investor relations, and supply chain teams. He succeeds Krier who was promoted to CEO in July of this year and who continued to serve as acting CFO until Roegner’s appointment. He was previously affiliated with Molex, LLC, a subsidiary of Koch Industries and globally recognized provider of electronic solutions in a wide range of industries, including medical device manufacturing. Most recently, he was the Vice President of Finance of Phillips-Medisize, LLC, a Molex company, where he served on the executive leadership team leading the global finance and accounting functions for Molex’s Medical and Pharmaceutical Solutions division. Phillips-Medisize, LLC is an end-to-end provider of innovation, development, and manufacturing solutions to pharmaceutical, diagnostics, and medical device markets. Prior to Phillips-Medisize, LLC, he had various leadership roles in the finance, supply chain, sales operations and marketing divisions throughout the Molex organization. He will operate from the Company’s Eagan, Minnesota facility, which is the location of the Company’s principal executive offices. Announcement • Nov 06
Dynatronics Corporation to Report Q1, 2021 Results on Nov 12, 2020 Dynatronics Corporation announced that they will report Q1, 2021 results at 9:00 AM, Eastern Standard Time on Nov 12, 2020 Announcement • Sep 26
Dynatronics Corporation Announces That It Will Not Be Providing Financial Guidance for the Fiscal Year 2021 Dynatronics Corporation announced that it will not be providing financial guidance for the fiscal year 2021. Announcement • Jul 09
Dynatronics Corporation Announces Management Changes On July 7, 2020, Brian Baker, citing the need for a reduced work schedule to allow more flexibility to address health issues relating to the COVID-19 virus, has stepped down as Chief Executive Officer of Dynatronics Corporation (Dynatronics or Company), effective immediately. Mr. Baker will continue to serve as a member of the Companys board of directors and subject to the conditions and provisions of the Companys equity incentive plans, equity awards held by Mr. Baker will continue to vest and be exercisable according to their respective terms. The Board of Dynatronics has named John Krier as the Companys Chief Executive Officer effective July 7, 2020. Mr. Krier has served as Chief Financial Officer of Dynatronics since March 2020. Mr. Krier will continue to serve as the Companys Chief Financial Officer on an interim basis until a successor has been identified and engaged.