ProDex Inc reported QQ2 2025 revenue of $16.793 million, up 33.4% year over year and 12.8% quarter over quarter, supported by a gross profit of $5.072 million and a gross margin of 30.2%. EBITDA stood at $3.103 million with operating income of $2.692 million, and net income of $2.04 million (EPS $0.63). The quarter reflected meaningful profitability gains on higher topline and favorable operating leverage, but cash flow remained negative, driven by a substantial working-capital swing. Net cash from operating activities was a burn of $4.15 million, as accounts receivable and inventories expanded while payables modestly contributed to cash flow. The balance sheet shows a liquid current position (current ratio 2.58, quick ratio 1.44) but material debt levels, and a very light cash balance at period end. The stock trades with a set of valuation metrics that imply a premium to book and sales, consistent with a niche healthcare device supplier with improving earnings power but elevated working-capital needs.