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Dynatronics Corporation is a leading medical device company committed to providing high-quality products designed to accelerate optimal health. The Company designs, manufactures, and sells a broad range of products for clinical use in physical therapy, rehabilitation, orthopedics, pain management, and athletic training.
The business is unprofitable at the operating level (-8.96% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 15.8% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from -8.71% to -14.58%, capital efficiency is deteriorating. Net debt of $4M represents 15.8x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$27M
▼ -15.8% YoY
Net Income (TTM)
-$11M
▼ -304.1% YoY
Op. Margin
-8.54%
▼ -2.0pp YoY
ROIC
-14.91%
▼ -5.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$76K
▲ +114.6% YoY
Op. Cash Flow (TTM)
$107K
▲ +118.7% YoY
Net Debt
$4M
Cash & Equiv.
$762K
5Y CAGR: -12.5%
5Y CAGR: -37.3%
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