Dynatronics Corp 2024年度报告

FORM10-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year endedJune 30,2025. or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ____________ Commission file number0-12697 Dynatronics Corporation(Exact name of registrant as specified in its charter) Utah87-0398434(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 1200 Trapp Road,Eagan,Minnesota55121(Address of principal executive offices, Zip Code) (801)568-7000(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act:None Securities registered pursuant to Section 12(g) of the Exchange Act:Common Stock, no par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit and post such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer" "smallerreporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated Filer ☐Accelerated filer☐☒Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☒ The aggregate market value of the common stock of the registrant held by non-affiliates computed by reference to the price at whichthe common stock was last sold on December 31, 2024 (the last day of the registrant's most recently completed second fiscal quarter),was approximately $0.6million. Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: As of October 6, 2025, there were16,001,331shares of the issuer's common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's definitive proxy statement for the 2025 Annual Meeting of Shareholders are incorporated by reference intoPart III of this Annual Report on Form 10-K. Dynatronics Corporation intends to file such proxy statement with the Securities andExchange Commission pursuant to Regulation 14A not later than 120 days after its fiscal year ended June 30, 2025. TABLE OF CONTENTS PART I.Item 1.Business2Item 1A.Risk Factors6Item 1B.Unresolved Staff Comments12Item 1C.Cybersecurity13Item 2.Properties13Item 3.Legal Proceedings14Item 4.Mine Safety Disclosures14PART II.Item 5.Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities15Item 6.[Reserved]15Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations15Item 7A.Quantitative and Qualitative Disclosures about Market Risk20Item 8.Financial Statements and Supplementary Data20Item 9.Changes in Disagreements with Accountants on Accounting and