MEDINOTEC INC
5.0000+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQX · MDNC · USD
Key Stats
Market Cap
58.78MP/E (TTM)
27.78Basic EPS (TTM)
0.18Dividend Yield
0%Recent Filings
10-Q
Q2 FY2026 results
Medinotec's Q2 FY2026 revenue surged 79% y/y to $3.2M, propelled by 105% growth in South African distribution sales that now dominate 96% of the total, while U.S. Trachealator sales dipped 20% y/y on order timing. Gross margin expanded to 62% from 46% y/y, thanks to a favorable product mix, but operating expenses ballooned 271% y/y to $1.5M amid sales ramp-up and compliance costs, yielding $529K operating income—up 21% y/y. Net income rose 22% y/y to $347K, with diluted EPS steady at $0.03 on 11.8M shares. Cash dipped to $2.2M after $980K debt repayment, yet free cash flow held at $464K from operations minus zero capex. Debt concentration in one South African customer poses risks.
10-Q
Q1 FY2026 results
Medinotec's Q1 FY2026 revenue surged 70.5% y/y to $2.1M, fueled by 77% growth in the outside-US segment to $2.0M from new South African distribution deals, while US sales rose 11% y/y to $150K on Trachealator adoption. Gross profit climbed to $925K with a 43.3% margin, down from 48% y/y due to a sales mix shift toward lower-margin distribution products and ZAR strengthening; operating income edged up 3% y/y to $277K, but net income grew 30% y/y to $114K after taxes. Cash dipped to $1.95M from operating outflows of $759K (derived), tied to receivables buildup from top customer DISA Life Sciences (84% of revenue), offset by $38K debt repayment; total debt stands at $939K with ample $4.9M working capital. FDA clearance for the Aortic Dilatation Balloon in March bolsters US expansion. Yet customer concentration leaves revenue vulnerable to DISA shifts.
10-K
FY2025 results
Medinotec's FY2025 revenue surged 81.5% to $9.1M, fueled by new cardiology distribution deals in South Africa and Trachealator sales in the US hitting $678K, up from $554K last year—yet US operations still posted a $251K operating loss amid ramp-up costs. Q4 momentum built on sequential quarterly gains, with gross margins expanding to 53% from 49% annually, driven by efficiencies in manufacturing and a stabilizing rand that curbed forex hits on imports. Distribution sales dominated at $7.6M, but heavy South African reliance underscores concentration risks. Cash swelled to $2.8M, funding US rollout without fresh debt, while compliance costs tripled to $527K for regulatory pushes. No formal guidance issued, though pipeline nods to aortic valve clearance post-year-end. South Africa's power instability threatens quarterly production flows.
8-K
Medinotec schedules virtual AGM
Medinotec announced its 2024 annual shareholder meeting for February 19, 2025, via virtual webcast, with a December 5, 2024 record date and 11,733,750 common shares eligible to vote. Shareholders will elect five directors, including CEO Gregory Vizirgianakis and CFO Pieter van Niekerk, and ratify Mercurius & Associates LLP as auditors for fiscal 2024, following BDO South Africa's dismissal in July 2024. This routine governance step maintains board continuity amid related-party loans totaling $1.86 million. Virtual format streamlines participation.
10-Q
Q3 FY2025 results
Medinotec's Q3 FY2025 revenue climbed 28% y/y to $2.6M, fueled by 64% U.S. growth from Trachealator sales, while outside the U.S. distribution surged on new South African partnerships—yet proprietary product volumes dipped amid European headwinds. Gross margin slipped to 41% from 43% y/y, reflecting thinner distribution margins, but operating income jumped to $527K from $258K as expenses fell 15% on lower admin costs. YTD, revenue doubled to $5.6M with $1.2M operating income, driving $682K net profit versus last year's loss; EPS hit $0.06 basic on steady 11.7M shares. Cash stood at $2.7M after $779K operating inflow, with $843K related-party debt repayment trimming the $1.0M balance at 11.25%—free cash flow not disclosed in the 10-Q. Debt servicing remains a key risk amid high rates.
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