Dynatronics (DYNT) 10-Q 9 May 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Entity Registrant Name	Dynatronics Corporation
Entity Central Index Key	0000720875
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		5,308,519
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-12697
Entity Incorporation State Country Code	UT
Entity Tax Identification Number	87-0398434
Entity Interactive Data Current	Yes
Entity Address Address Line 1	1200 Trapp Road
Entity Address City Or Town	Eagan,
Entity Address State Or Province	MN
Entity Address Postal Zip Code	55121
City Area Code	801
Local Phone Number	5687000
Security 12b Title	Common Stock, no par value per share
Trading Symbol	DYNT
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 441,545	$ 398,797
Restricted cash	154,073	154,073
Trade accounts receivable, less allowance for doubtful accounts of $59,404 and $131,403 as of March 31, 2024 and June 30, 2023, respectively	3,716,298	3,721,677
Other receivables	478,182	39,678
Inventories, net	6,183,992	7,403,194
Prepaid expenses	1,034,521	701,456
Total current assets	12,008,611	12,418,875
Property and equipment, net	2,129,496	2,448,282
Operating lease assets	2,859,912	3,631,780
Intangible assets, net	3,154,550	3,618,275
Goodwill	7,116,614	7,116,614
Other assets	495,519	829,049
Total assets	27,764,702	30,062,875
Current liabilities:
Accounts payable	3,571,305	4,529,703
Accrued payroll and benefits expense	439,321	877,781
Accrued expense	759,497	891,467
Warranty reserve	123,860	115,637
Line of credit	2,352,038	0
Current portion of finance lease liability	298,793	286,522
Current portion of deferred gain	150,448	150,448
Current portion of operating lease liability	886,388	1,075,690
Other liabilities	0	13,744
Total current liabilities	8,581,650	7,940,992
Finance lease liability, net of current portion	1,506,215	1,731,868
Deferred gain, net of current portion	664,478	777,314
Operating lease liability, net of current portion	1,973,524	2,554,450
Other liabilities	193,268	201,725
Total liabilities	12,919,135	13,206,349
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value: Authorized 50,000,000 shares; 3,351,000 shares issued and outstanding as of March 31, 2024 and June 30, 2023, respectively	7,980,788	7,980,788
Common stock, no par value: Authorized 100,000,000 shares; 4,882,375 shares and 4,044,984 shares issued and outstanding as of March 31, 2024 and June 30, 2023, respectively	34,926,119	34,355,315
Accumulated deficit	(28,061,340)	(25,479,577)
Total stockholders' equity	14,845,567	16,856,526
Total liabilities and stockholders' equity	$ 27,764,702	$ 30,062,875

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Condensed Consolidated Balance Sheets
Allowance For Doubtful Accounts	$ 59,404	$ 131,403
Preferred Stock, Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	3,351,000	3,351,000
Preferred Stock, Shares Outstanding	3,351,000	3,351,000
Common Stock, Par Value	$ 0	$ 0
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	4,882,375	4,044,984
Common Stock, Shares Outstanding	4,882,375	4,044,984

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Condensed Consolidated Statements of Operations (Unaudited)
Net sales	$ 7,657,846	$ 9,236,037	$ 25,161,111	$ 32,171,794
Cost of sales	5,840,729	7,027,630	19,218,072	23,258,363
Gross profit	1,817,117	2,208,407	5,943,039	8,913,431
Selling, general, and administrative expenses	2,389,073	3,429,001	7,656,196	11,408,537
Operating loss	(571,956)	(1,220,594)	(1,713,157)	(2,495,106)
Other income (expense):
Interest expense, net	(109,292)	(24,385)	(299,418)	(93,782)
Other income (expense), net	0	(541)	0	605
Net other expense	(109,292)	(24,926)	(299,418)	(93,177)
Loss before income taxes	(681,248)	(1,245,520)	(2,012,575)	(2,588,283)
Income tax benefit (provision)	13,526	27	2,783	(4,003)
Net loss	(667,722)	(1,245,493)	(2,009,792)	(2,592,286)
Preferred stock dividend, in common stock, issued or to be issued	(183,668)	(174,873)	(571,971)	(518,577)
Net loss attributable to common stockholders	$ (851,390)	$ (1,420,366)	$ (2,581,763)	$ (3,110,863)
Net loss per common share:
Net loss per common share Basic	$ (0.17)	$ (0.36)	$ (0.57)	$ (0.82)
Net loss per common share Diluted	$ (0.17)	$ (0.36)	$ (0.57)	$ (0.82)
Weighted average shares outstanding:
Weighted average shares outstanding Basic	4,878,512	3,929,577	4,553,847	3,809,610
Weighted average shares outstanding Diluted	4,878,512	3,929,577	4,553,847	3,809,610

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common stock [Member]	Preferred stock [Member]	Accumulated deficit [Member]	Total
Balance, shares at Jun. 30, 2022	3,639,663	3,351,000
Balance, amount at Jun. 30, 2022	$ 33,533,003	$ 7,980,788	$ (19,815,233)	$ 21,698,558
Stock-based compensation, shares	16,901
Stock-based compensation, amount	$ 60,401	0	0	60,401
Preferred stock dividend, in common stock, issued or to be issued, shares	59,687
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 170,576	0	(170,576)	0
Net loss	$ 0	$ 0	(505,926)	(505,926)
Balance, shares at Sep. 30, 2022	3,716,251	3,351,000
Balance, amount at Sep. 30, 2022	$ 33,763,980	$ 7,980,788	(20,491,735)	21,253,033
Stock-based compensation, shares	11,521
Stock-based compensation, amount	$ 25,955	0	0	25,955
Preferred stock dividend, in common stock, issued or to be issued, shares	68,838
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 173,128	0	(173,128)	0
Net loss	$ 0	$ 0	(840,867)	(840,867)
Balance, shares at Dec. 31, 2022	3,796,610	3,351,000
Balance, amount at Dec. 31, 2022	$ 33,963,063	$ 7,980,788	(21,505,730)	20,438,121
Stock-based compensation, shares	5,154
Stock-based compensation, amount	$ 22,848	0	0	22,848
Preferred stock dividend, in common stock, issued or to be issued, shares	88,762
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 174,873	0	(174,873)	0
Net loss	$ 0	$ 0	(1,245,493)	(1,245,493)
Balance, shares at Mar. 31, 2023	3,890,526	3,351,000
Balance, amount at Mar. 31, 2023	$ 34,160,784	$ 7,980,788	(22,926,096)	19,215,476
Adjustment for fractional shares (in shares)	7,224
Adjustment for fractional shares	$ 0	0	0	0
Stock-based compensation, shares	156
Stock-based compensation, amount	$ 22,132	0	0	22,132
Preferred stock dividend, in common stock, issued or to be issued, shares	147,078
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 172,399	0	(172,399)	0
Net loss	$ 0	$ 0	(2,381,082)	(2,381,082)
Balance, shares at Jun. 30, 2023	4,044,984	3,351,000
Balance, amount at Jun. 30, 2023	$ 34,355,315	$ 7,980,788	(25,479,577)	16,856,526
Stock-based compensation, shares	13,399
Stock-based compensation, amount	$ 19,173	0	0	19,173
Preferred stock dividend, in common stock, issued or to be issued, shares	201,656
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 197,059	0	(197,059)	0
Net loss	$ 0	$ 0	(330,654)	(330,654)
Balance, shares at Sep. 30, 2023	4,260,039	3,351,000
Balance, amount at Sep. 30, 2023	$ 34,571,547	$ 7,980,788	(26,007,290)	16,545,045
Stock-based compensation, shares	8,080
Stock-based compensation, amount	$ (3,848)	0	0	(3,848)
Preferred stock dividend, in common stock, issued or to be issued, shares	262,718
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 191,244	0	(191,244)	0
Net loss	$ 0	$ 0	(1,011,416)	(1,011,416)
Balance, shares at Dec. 31, 2023	4,530,837	3,351,000
Balance, amount at Dec. 31, 2023	$ 34,758,943	$ 7,980,788	(27,209,950)	15,529,781
Stock-based compensation, shares	10,154
Stock-based compensation, amount	$ (16,492)	0	0	(16,492)
Preferred stock dividend, in common stock, issued or to be issued, shares	341,384
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 183,668	0	(183,668)	0
Net loss	$ 0	$ 0	(667,722)	(667,722)
Balance, shares at Mar. 31, 2024	4,882,375	3,351,000
Balance, amount at Mar. 31, 2024	$ 34,926,119	$ 7,980,788	$ (28,061,340)	$ 14,845,567

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (2,009,792)	$ (2,592,286)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	520,051	540,103
Amortization of intangible assets	463,725	467,875
Loss on sale of property	41,389	0
Stock-based compensation	(1,166)	109,204
Change in allowance for doubtful accounts receivable	(71,999)	(140,382)
Change in allowance for inventory obsolescence	151,390	(241)
Amortization of deferred gain on sale/leaseback	(112,836)	(112,836)
Change in operating assets and liabilities:
Trade accounts receivable	77,378	1,189,473
Inventories	1,067,812	2,368,420
Prepaid expenses and other receivables	(771,569)	43,884
Other assets	333,530	23,605
Accounts payable, accrued expenses, and other current liabilities	(1,542,806)	(1,492,530)
Net cash (used in) provided by operating activities	(1,854,893)	404,289
Cash flows from investing activities:
Purchase of property and equipment	(241,014)	(177,086)
Net cash used in investing activities	(241,014)	(177,086)
Cash flows from financing activities:
Principal payments on long-term debt	0	(5,362)
Principal payments on finance lease liability	(213,383)	(253,561)
Net change in line of credit	2,352,038	0
Net cash provided by (used in) financing activities	2,138,655	(258,923)
Net change in cash and cash equivalents and restricted cash	42,748	(31,720)
Cash and cash equivalents and restricted cash at beginning of the period	552,870	701,317
Cash and cash equivalents and restricted cash at end of the period	595,618	669,597
Supplemental disclosure of cash flow information:
Cash paid for interest	455,932	135,047
Supplemental disclosure of non-cash investing and financing activities
Preferred stock dividend, in common stock, issued or to be issued	571,971	174,873
Operating lease right-of-use assets obtained in exchange for lease obligations	35,366	2,973,474
Finance lease right-of-use assets obtained in exchange for lease obligations	$ 0	$ 86,119

Presentation and Summary of Sig

Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2024
Presentation and Summary of Significant Accounting Policies
Presentation and Summary of Significant Accounting Policies [Text Block]	Note 1. Presentation and Summary of Significant Accounting Policies Business Dynatronics Corporation (the "Company," or "Dynatronics") is a leading medical device company committed to providing high-quality restorative products designed to accelerate achieving 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. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, and hospitals. Reverse Stock Split On November 17, 2022, the Company's shareholders approved Articles of Amendment to the Company's Amended and Restated Articles of Incorporation (the "Articles of Amendment") to effect a reverse stock split at a ratio in the range of 1-for-2 to 1-for-5, with such ratio to be determined in the discretion of the Company's board of directors and with such reverse stock split to be effected at such time and date, if at all, as determined by the Company's board of directors in its sole discretion. Thereafter, the Company's board of directors set the split ratio in the reverse stock split at 1-for-5 and approved and authorized the filing of the Articles of Amendment to effect the reverse stock split with the Utah Department of Commerce, Division of Corporations and Commercial Code. The Articles of Amendment and reverse stock split became effective at 5:00 p.m. Eastern Standard Time on February 1, 2023. At the effective time, every five issued and outstanding shares of common stock were converted into one share of common stock, with any fractional shares resulting from the reverse stock split rounded up to the nearest whole share. The reverse stock split did not affect the Company's authorized shares of common stock or preferred stock, which remained at 100,000,000 and 50,000,000 shares, respectively. The par value of each share of common stock remained unchanged. Proportionate adjustments were made to the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all stock options, restricted stock and warrants outstanding at February 1, 2023, which resulted in a proportional decrease in the number of shares of the Company's common stock reserved for issuance upon exercise or vesting of such stock options, restricted stock and warrants, and, in the case of stock options and warrants, a proportional increase in the exercise price of all such stock options and warrants. Additionally, Unless noted, all common shares and per share amounts contained in the condensed consolidated financial statements and management's discussion and analysis have been retroactively adjusted to reflect a one-for-five reverse stock split. Proposed 2023 Reverse Stock Split On October 9, 2023, the board of directors unanimously approved and recommended that the Company's shareholders (including holders of our Series A 8% Convertible Preferred Stock and Series B Convertible Preferred Stock) approve at our annual meeting of shareholders the adoption of an amendment (the "Amendment") to the Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's common stock (the "Proposed Reverse Stock Split") at any whole number between, and inclusive of, one-for-five to one-for-ten. On December 7, 2023, during the "2023 Annual Meeting" the shareholders approved a resolution granting the board of directors the authority, but not the obligation, to file the Amendment to effect the Proposed Reverse Stock Split at any time within one year from the date of shareholder approval, with the exact ratio and timing of the Proposed Reverse Stock Split to be determined at the discretion of the board of directors. For additional information about the 2023 Annual Meeting and the Proposed Reverse Stock Split, please see the Company's Definitive Proxy Statement filed with the SEC on October 24, 2023. Basis of Presentation The accompanying unaudited condensed consolidated financial statements (the "Condensed Consolidated Financial Statements") have been prepared by the Company in accordance with generally accepted accounting principles in the United States ("GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. As such, these Condensed Consolidated Financial Statements should be read in conjunction with the Company's audited financial statements and accompanying notes included in its Annual Report on Form 10K for the fiscal year ended June 30, 2023 (the "Annual Report") filed with the SEC on September 28, 2023. The Condensed Consolidated Balance Sheet at June 30, 2023, has been derived from the Annual Report. The accounting policies followed by the Company are set forth in Part II, Item 8, Note 1, Basis of Presentation and Summary of Accounting Policies, of the Notes to Financial Statements included in the Company's Annual Report. In the opinion of management, the Condensed Consolidated Financial Statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company's financial position as of March 31, 2024 and its results of operations and its cash flows for the periods presented. The results of operations for the first nine months of the fiscal year are not necessarily indicative of results for the full year or any future periods. The Company's fiscal year begins on July 1 and ends on June 30 and references made to "fiscal year 2024" and "fiscal year 2023" refer to the Company's fiscal year ending June 30, 2024 and the fiscal year ended June 30, 2023, respectively. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions. Other Receivables Other receivables consist of amounts due from the Company's contract manufacturer for raw materials components provided for use in the production of the Company's products. Payments are due from the Company's contract manufacturer based on the usage of raw material components. Recent Accounting Pronouncements In August 2020, the FASB issued ASU 202006, Debt- Debt with Conversion and Other Options (Subtopic 47020) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 81540): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity In June 2016, the FASB issued ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Net Loss per Common Share

Net Loss per Common Share	9 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss per Common Share [Text Block]	Note 2. Net Loss per Common Share Net loss per common share is computed based on the weightedaverage number of common shares outstanding and, when appropriate, dilutive potential common stock outstanding during the period. Stock options, convertible preferred stock and warrants are considered to be potential common stock. The computation of diluted net loss per common share does not assume exercise or conversion of securities that would have an antidilutive effect. Basic net loss per common share is the amount of net loss for the period available to each weightedaverage share of common stock outstanding during the reporting period. Diluted net loss per common share is the amount of net loss for the period available to each weightedaverage share of common stock outstanding during the reporting period and to each share of potential common stock outstanding during the period, unless inclusion of potential common stock would have an antidilutive effect. All outstanding options, warrants and convertible preferred stock for common shares are not included in the computation of diluted net loss per common share because they are antidilutive, which for the three months ended March 31, 2024 and 2023, totaled 670,200 and 1,555,615 respectively, and for the nine months ended March 31, 2024 and 2023, totaled 670,200 and 1,562,900, respectively.

Convertible Preferred Stock

Convertible Preferred Stock	9 Months Ended
	Mar. 31, 2024
Convertible Preferred Stock
Convertible Preferred Stock [Text Block]	Note 3. Convertible Preferred Stock As of March 31, 2024, the Company had issued and outstanding a total of 1,992,000 shares of Series A 8% Convertible Preferred Stock ("Series A Preferred") and 1,359,000 shares of Series B Convertible Preferred Stock ("Series B Preferred"). The Series A Preferred and Series B Preferred are convertible into a total of 670,200 shares of common stock. Dividends payable on these preferred shares accrue at the rate of 8% per year and are payable quarterly in stock or cash at the option of the Company. The Company generally pays the dividends on the preferred stock by issuing shares of its common stock. The formula for paying these dividends using common stock in lieu of cash can change the effective yield on the dividend to more or less than 8% depending on the market price of the common stock at the time of issuance. In April 2024, the Company paid $183,668 of preferred stock dividends with respect to the Series A Preferred and Series B Preferred that accrued during the three months ended March 31, 2024, by issuing 426,144 shares of common stock.

Inventories

Inventories	9 Months Ended
	Mar. 31, 2024
Inventories
Inventories [Text Block]	Note 4. Inventories Inventories consisted of the following: March 31, 2024 June 30, 2023 Raw materials $ 4,072,364 $ 4,693,634 Work in process 70,987 66,359 Finished goods 2,687,961 3,139,131 Inventory reserve (647,320 ) (495,930 ) $ 6,183,992 $ 7,403,194

Debt

Debt	9 Months Ended
	Mar. 31, 2024
LongTerm Debt
Debt [Text Block]	Note 5. Debt As of March 31, 2024 and June 30, 2023, the line of credit was $2,352,038 and $0, respectively. On August 1, 2023, the Company entered into a Loan and Security Agreement (the "Loan Agreement") with Gibraltar Business Capital, LLC ("Lender"), to provide asset-based financing to the Company to be used for operating capital. Amounts available under the Loan Agreement (the "Revolving Loans") are subject to a borrowing base calculation of up to a maximum availability of $7,500,000 (the "Revolving Loan Commitment") and bear interest at SOFR plus 5.00%. The Company paid a closing fee of 1.00% of the Revolving Loan Commitment and the line is subject to a monthly unused line fee in an annualized amount equal to 0.50% on the difference between the Revolving Loan Commitment and the average outstanding principal balance of the Revolving Loans for such month. The maturity date is three years from the date of the promissory note evidencing the Revolving Loans, subject to extension in accordance with the terms of the Loan Agreement. The Loan Agreement provides for revolving credit borrowings by the Company in an amount up to the lesser of the Revolving Loan Commitment and a borrowing base amount equal to the sum of stated percentages of eligible accounts receivable and inventory, less reserves, computed on a weekly basis. The obligations of the Company under the Loan Agreement are secured by a first-priority security interest in substantially all of the assets of the Company (including, without limitation, accounts receivable, equipment, inventory and other goods, intellectual property, contract rights and other general intangibles, cash, deposit accounts, equity interests in subsidiaries and joint ventures, investment property, documents and instruments, and proceeds of the foregoing). The Loan Agreement contains affirmative and negative covenants, including covenants that restrict the ability of the Company and its subsidiaries to, among other things, incur or guarantee indebtedness, incur liens, dispose of assets, engage in mergers and consolidations, make acquisitions or other investments, make changes in the nature of its business, and engage in transactions with affiliates. The Loan Agreement also contains financial covenants applicable to the Company and its subsidiaries, including a minimum fixed charge coverage ratio of 1.0 to 1.0 if excess availability is less than $1,000,000 of the borrowing base.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Mar. 31, 2024
RelatedParty Transactions
Related-Party Transactions [Text Block]	Note 6. Related-Party Transactions The Company leases office, manufacturing and warehouse facilities in Northvale, New Jersey, and Eagan, Minnesota from shareholders and entities controlled by shareholders who were previously principals of businesses acquired by the Company. The combined expenses associated with these relatedparty transactions totaled $332,857 and $249,366 for the three months ended March 31, 2024 and 2023, respectively, and $999,795 and $748,098 for the nine months ended March 31, 2024 and 2023, respectively.

Revenue

Revenue	9 Months Ended
	Mar. 31, 2024
Revenue
Revenue [Text Block]	Note 7. Revenue As of March 31, 2024 and June 30, 2023, the net rebate liability was $222,645 and $191,459, respectively. The rebate liability is included in accrued expenses within the accompanying condensed consolidated balance sheets. As of March 31, 2024 and June 30, 2023, the allowance for sales discounts was $9,666 and $13,589, respectively. The allowance for sales discounts is included in trade accounts receivable, less allowance for doubtful accounts in the accompanying condensed consolidated balance sheets. The following table disaggregates revenue by major product category for the three and nine months ended March 31: Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Physical Therapy and Rehabilitation Products $ 3,656,363 $ 4,735,741 $ 12,631,415 $ 17,399,296 Orthopedic Soft Bracing Products 3,980,170 4,476,849 12,464,521 14,698,238 Other 21,313 23,447 65,175 74,260 $ 7,657,846 $ 9,236,037 $ 25,161,111 $ 32,171,794

Presentation and Summary of S_2

Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2024
Presentation and Summary of Significant Accounting Policies
Business [Policy Text Block]	Business Dynatronics Corporation (the "Company," or "Dynatronics") is a leading medical device company committed to providing high-quality restorative products designed to accelerate achieving 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. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, and hospitals.
Reverse Stock Split [Policy Text Block]	Reverse Stock Split On November 17, 2022, the Company's shareholders approved Articles of Amendment to the Company's Amended and Restated Articles of Incorporation (the "Articles of Amendment") to effect a reverse stock split at a ratio in the range of 1-for-2 to 1-for-5, with such ratio to be determined in the discretion of the Company's board of directors and with such reverse stock split to be effected at such time and date, if at all, as determined by the Company's board of directors in its sole discretion. Thereafter, the Company's board of directors set the split ratio in the reverse stock split at 1-for-5 and approved and authorized the filing of the Articles of Amendment to effect the reverse stock split with the Utah Department of Commerce, Division of Corporations and Commercial Code. The Articles of Amendment and reverse stock split became effective at 5:00 p.m. Eastern Standard Time on February 1, 2023. At the effective time, every five issued and outstanding shares of common stock were converted into one share of common stock, with any fractional shares resulting from the reverse stock split rounded up to the nearest whole share. The reverse stock split did not affect the Company's authorized shares of common stock or preferred stock, which remained at 100,000,000 and 50,000,000 shares, respectively. The par value of each share of common stock remained unchanged. Proportionate adjustments were made to the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all stock options, restricted stock and warrants outstanding at February 1, 2023, which resulted in a proportional decrease in the number of shares of the Company's common stock reserved for issuance upon exercise or vesting of such stock options, restricted stock and warrants, and, in the case of stock options and warrants, a proportional increase in the exercise price of all such stock options and warrants. Additionally, Unless noted, all common shares and per share amounts contained in the condensed consolidated financial statements and management's discussion and analysis have been retroactively adjusted to reflect a one-for-five reverse stock split.
Proposed 2023 Reverse Stock Split [Policy Text Block]	Proposed 2023 Reverse Stock Split On October 9, 2023, the board of directors unanimously approved and recommended that the Company's shareholders (including holders of our Series A 8% Convertible Preferred Stock and Series B Convertible Preferred Stock) approve at our annual meeting of shareholders the adoption of an amendment (the "Amendment") to the Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's common stock (the "Proposed Reverse Stock Split") at any whole number between, and inclusive of, one-for-five to one-for-ten. On December 7, 2023, during the "2023 Annual Meeting" the shareholders approved a resolution granting the board of directors the authority, but not the obligation, to file the Amendment to effect the Proposed Reverse Stock Split at any time within one year from the date of shareholder approval, with the exact ratio and timing of the Proposed Reverse Stock Split to be determined at the discretion of the board of directors. For additional information about the 2023 Annual Meeting and the Proposed Reverse Stock Split, please see the Company's Definitive Proxy Statement filed with the SEC on October 24, 2023.
Basis of Presentation [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements (the "Condensed Consolidated Financial Statements") have been prepared by the Company in accordance with generally accepted accounting principles in the United States ("GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. As such, these Condensed Consolidated Financial Statements should be read in conjunction with the Company's audited financial statements and accompanying notes included in its Annual Report on Form 10K for the fiscal year ended June 30, 2023 (the "Annual Report") filed with the SEC on September 28, 2023. The Condensed Consolidated Balance Sheet at June 30, 2023, has been derived from the Annual Report. The accounting policies followed by the Company are set forth in Part II, Item 8, Note 1, Basis of Presentation and Summary of Accounting Policies, of the Notes to Financial Statements included in the Company's Annual Report. In the opinion of management, the Condensed Consolidated Financial Statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company's financial position as of March 31, 2024 and its results of operations and its cash flows for the periods presented. The results of operations for the first nine months of the fiscal year are not necessarily indicative of results for the full year or any future periods. The Company's fiscal year begins on July 1 and ends on June 30 and references made to "fiscal year 2024" and "fiscal year 2023" refer to the Company's fiscal year ending June 30, 2024 and the fiscal year ended June 30, 2023, respectively.
Use of Estimates [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions.
Other Receivables [Policy Text Block]	Other Receivables Other receivables consist of amounts due from the Company's contract manufacturer for raw materials components provided for use in the production of the Company's products. Payments are due from the Company's contract manufacturer based on the usage of raw material components.
Recent Accounting Pronouncements [Policy Text Block]	Recent Accounting Pronouncements In August 2020, the FASB issued ASU 202006, Debt- Debt with Conversion and Other Options (Subtopic 47020) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 81540): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity In June 2016, the FASB issued ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2024
Inventories
Inventories [Table Text Block]	March 31, 2024 June 30, 2023 Raw materials $ 4,072,364 $ 4,693,634 Work in process 70,987 66,359 Finished goods 2,687,961 3,139,131 Inventory reserve (647,320 ) (495,930 ) $ 6,183,992 $ 7,403,194

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Mar. 31, 2024
Revenue
Revenue [Table Text Block]	Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Physical Therapy and Rehabilitation Products $ 3,656,363 $ 4,735,741 $ 12,631,415 $ 17,399,296 Orthopedic Soft Bracing Products 3,980,170 4,476,849 12,464,521 14,698,238 Other 21,313 23,447 65,175 74,260 $ 7,657,846 $ 9,236,037 $ 25,161,111 $ 32,171,794

Presentation and Summary of S_3

Presentation and Summary of Significant Accounting Policies (Narrative) (Details) - shares	9 Months Ended
	Mar. 31, 2024	Jun. 30, 2023	Nov. 17, 2022
Common stock shares authorised	100,000,000	100,000,000	100,000,000
Preferred stock shares authorised	50,000,000	50,000,000	50,000,000
Reverse stock split	one-for-five

Net Loss per Common Share (Narr

Net Loss per Common Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	670,200	1,555,615	670,200	1,562,900

Convertible Preferred Stock (Na

Convertible Preferred Stock (Narrative) (Details) - USD ($)	9 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Preferred stock outstanding	3,351,000	3,351,000
Common stock upon conversion of preferred stock	670,200
Dividend rate	8%
Preferred stock dividends	$ 183,668
Common stock shares issued	426,144
Series A Preferred [Member]
Preferred stock outstanding	1,992,000
Dividend rate	8%
Series B Preferred [Member]
Preferred stock outstanding	1,359,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Inventories
Raw materials	$ 4,072,364	$ 4,693,634
Work in process	70,987	66,359
Finished goods	2,687,961	3,139,131
Inventory reserve	(647,320)	(495,930)
Inventories, net	$ 6,183,992	$ 7,403,194

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Aug. 01, 2023	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Line of credit		$ 2,352,038	$ 0	$ 0
Gibraltar Business Capital, LLC [Member] | Loan and Security Agreement [Member]
Debt Instrument [Line Items]
Revolving loan commitment, maximum availability	$ 7,500,000
Interest rate description	bear interest at SOFR plus 5.00%
Closing fee of revolving loan commitment	1%
Annualized monthly unused line fee	0.50%
Description of minimum fixed charge coverage ratio	1.0 to 1.0 if excess availability is less than $1,000,000 of the borrowing base.

Related-Party Transactions (Nar

Related-Party Transactions (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
RelatedParty Transactions
Related-party transactions	$ 332,857	$ 249,366	$ 999,795	$ 748,098

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Revenue
Rebate receivable (liability)	$ 222,645	$ 191,459
Allowance for sales discounts	$ 9,666	$ 13,589

Revenue - Schedule of Revenue (

Revenue - Schedule of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net Sales	$ 7,657,846	$ 9,236,037	$ 25,161,111	$ 32,171,794
Physical Therapy and Rehabilitation Products [Member]
Net Sales	3,656,363	4,735,741	12,631,415	17,399,296
Orthopedic Soft Bracing Products [Member]
Net Sales	3,980,170	4,476,849	12,464,521	14,698,238
Other [Member]
Net Sales	$ 21,313	$ 23,447	$ 65,175	$ 74,260