Dynasil Gross profit (Q3, 2018)4.2 M

Dynasil Gross profit margin (Q3, 2018), %39.6%

Dynasil Net income (Q3, 2018)376 K

Dynasil EBIT (Q3, 2018)610 K

Dynasil Cash, 30-Jun-20181.5 M

Dynasil EV18.3 M

Dynasil revenue was $37.28 m in FY, 2017 which is a 14.2% year over year decrease from the previous period.

Dynasil revenue breakdown by business segment: 51.7% from Optics and 48.3% from Contract Research

Dynasil revenue breakdown by geographic segment: 11.8% from Europe, 78.2% from United States and 10.0% from Other

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Revenue | 42.8m | 42.3m | 40.5m | 43.4m | 37.3m |

| (1%) | (4%) | 7% | (14%) | |

## Cost of goods sold | 24.7m | 25.6m | 25.3m | 27.8m | 23.4m |

## Gross profit | 18.1m | 16.7m | 15.3m | 15.6m | 13.9m |

| 42% | 40% | 38% | 36% | 37% |

## Sales and marketing expense | 1.2m | 1.2m | |||

## R&D expense | 998.0k | 903.0k | |||

## General and administrative expense | 12.8m | 12.4m | |||

## Operating expense total | 14.9m | 14.5m | |||

## EBIT | (8.2m) | 2.7m | 134.0k | 679.0k | (582.0k) |

| (19%) | 6% | 0% | 2% | (2%) |

## Interest expense | 861.0k | 713.0k | 493.0k | 294.0k | 212.0k |

## Pre tax profit | (9.0m) | 385.0k | (794.0k) | ||

## Income tax expense | 51.0k | (2.7m) | |||

## Net Income | (8.7m) | 2.0m | (353.0k) | 334.0k | 1.9m |

USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 10.7m | 10.4m | 10.6m | 9.6m | 9.9m | 10.2m | 11.2m | 11.3m | 10.4m | 9.1m | 10.1m | 8.8m | 9.2m | 10.3m | 10.5m |

## Cost of goods sold | 6.3m | 6.0m | 6.7m | 6.0m | 6.1m | 6.0m | 7.2m | 7.2m | 6.5m | 5.6m | 6.3m | 5.5m | 5.6m | 6.3m | 6.4m |

## Gross profit | 4.5m | 4.4m | 3.9m | 3.6m | 3.8m | 4.2m | 4.0m | 4.1m | 3.9m | 3.5m | 3.8m | 3.4m | 3.6m | 3.9m | 4.2m |

| 42% | 42% | 37% | 37% | 38% | 41% | 35% | 36% | 38% | 39% | 38% | 38% | 39% | 38% | 40% |

## Sales and marketing expense | 396.8k | 312.7k | 337.0k | 365.0k | 309.0k | 312.0k | 341.0k | 343.0k | 246.0k | 266.0k | 328.0k | 255.0k | 279.0k | 388.0k | 288.0k |

## R&D expense | 346.2k | 378.4k | 300.3k | 375.0k | 416.0k | 382.0k | 491.0k | 512.0k | 544.0k | 196.0k | 335.0k | 176.0k | 308.0k | 215.0k | 177.0k |

## General and administrative expense | 3.3m | 3.2m | 3.1m | 3.5m | 3.0m | 3.0m | 3.0m | 3.2m | 2.8m | 3.0m | 3.1m | 3.2m | 3.2m | 3.3m | 3.1m |

## Operating expense total | 4.0m | 3.9m | 3.8m | 4.2m | 3.7m | 3.7m | 3.8m | 4.0m | 3.6m | 3.4m | 3.8m | 3.6m | 3.7m | 3.9m | 3.6m |

## EBIT | 1.6m | 467.2k | 156.2k | (429.0k) | 14.0k | 475.0k | 164.0k | 41.0k | 326.0k | 76.0k | (3.0k) | (272.0k) | (169.0k) | 80.0k | 610.0k |

| 15% | 4% | 1% | (4%) | 0% | 5% | 1% | 0% | 3% | 1% | 0% | (3%) | (2%) | 1% | 6% |

## Interest expense | 212.8k | 209.3k | 145.8k | 125.0k | 123.0k | 124.0k | 59.0k | 77.0k | 78.0k | 67.0k | 45.0k | 53.0k | 43.0k | 45.0k | 44.0k |

## Pre tax profit | 1.4m | 257.9k | (325.0k) | (212.0k) | 35.0k | 566.0k | |||||||||

## Income tax expense | (44.0k) | 4.6k | (47.7k) | (14.0k) | (2.7m) | (111.0k) | 660.0k | (1.3m) | 190.0k | ||||||

## Net Income | 1.4m | 253.3k | 1.8m | (557.0k) | (684.0k) | (317.0k) | 69.0k | (1.0k) | 214.0k | 2.7m | 2.6m | (214.0k) | (872.0k) | 1.3m | 376.0k |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Cash | 2.4m | 3.8m | 1.3m | 2.6m | 2.4m |

## Accounts Receivable | 3.5m | 3.4m | |||

## Inventories | 1.3m | 919.0k | 1.2m | 3.7m | 4.3m |

## Current Assets | 12.1m | 12.2m | 10.4m | 12.1m | 12.4m |

## PP&E | 4.8m | 6.5m | 6.7m | 7.2m | 7.0m |

## Goodwill | 6.2m | 6.2m | 6.1m | 5.9m | 5.9m |

## Total Assets | 26.7m | 26.4m | 24.5m | 26.4m | 29.1m |

## Accounts Payable | 2.1m | 1.6m | 1.9m | 1.6m | 2.4m |

## Short-term debt | 9.8m | 2.3m | 1.6m | 2.5m | 2.0m |

## Current Liabilities | 15.4m | 8.1m | 8.4m | 10.5m | 7.3m |

## Long-term debt | 3.3m | 1.3m | 736.0k | 1.0m | |

## Non-Current Liabilities | 669.0k | 4.0m | 1.7m | 1.2m | 1.4m |

## Total Debt | 9.8m | 5.6m | 2.9m | 3.2m | 3.1m |

## Total Liabilities | 16.0m | 12.1m | 10.1m | 11.7m | 8.7m |

## Common Stock | 9.0k | 9.0k | |||

## Additional Paid-in Capital | 17.5m | 19.2m | 19.7m | 20.1m | 21.4m |

## Retained Earnings | (6.0m) | (3.9m) | (4.2m) | (3.5m) | (919.0k) |

## Total Equity | 10.6m | 14.3m | 14.4m | 14.7m | 20.4m |

## Debt to Equity Ratio | 0.9 x | 0.4 x | 0.2 x | 0.2 x | 0.1 x |

## Debt to Assets Ratio | 0.4 x | 0.2 x | 0.1 x | 0.1 x | 0.1 x |

## Financial Leverage | 2.5 x | 1.8 x | 1.7 x | 1.8 x | 1.4 x |

USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 2.8m | 3.5m | 3.1m | 2.5m | 3.2m | 3.5m | 1.1m | 814.0k | 232.0k | 1.6m | 2.3m | 1.8m | 961.0k | 1.1m | 1.5m |

## Current Assets | 11.9m | 12.5m | 12.2m | 11.4m | 11.8m | 12.7m | 11.2m | 12.4m | 11.5m | 11.7m | 11.6m | 11.6m | 11.2m | 11.6m | 11.6m |

## PP&E | 4.6m | 4.7m | 6.6m | 6.5m | 6.4m | 6.5m | 7.0m | 7.1m | 7.1m | 6.9m | 6.8m | 6.8m | 7.4m | 7.6m | 8.0m |

## Goodwill | 6.3m | 6.3m | 6.3m | 6.2m | 6.1m | 6.2m | 6.1m | 6.0m | 5.9m | 5.8m | 5.8m | 5.9m | 6.0m | 6.0m | 5.9m |

## Total Assets | 24.2m | 24.8m | 26.5m | 25.5m | 25.6m | 26.9m | 25.6m | 26.7m | 25.7m | 28.3m | 28.0m | 28.2m | 27.7m | 29.5m | 29.6m |

## Accounts Payable | 2.0m | 2.3m | 2.2m | 1.3m | 1.7m | 1.5m | 1.9m | 2.6m | 1.7m | 1.5m | 1.2m | 1.4m | 1.9m | 1.7m | 1.9m |

## Short-term debt | 5.4m | 2.0m | 2.4m | 3.0m | 3.4m | 3.7m | 2.5m | 2.5m | 2.4m | 2.0m | 2.0m | 2.0m | 1.8m | 1.6m | 1.7m |

## Current Liabilities | 10.8m | 8.1m | 7.6m | 8.3m | 9.1m | 10.0m | 9.6m | 10.9m | 9.9m | 5.9m | 5.7m | 6.0m | 6.2m | 6.6m | 6.7m |

## Long-term debt | 3.3m | 3.3m | 2.9m | 2.5m | 2.0m | 1.1m | 978.0k | 827.0k | 1.5m | 1.3m | 1.4m | 1.2m | 1.2m | ||

## Non-Current Liabilities | 1.1m | 4.1m | 4.6m | 3.2m | 2.8m | 2.4m | 1.5m | 1.4m | 1.3m | 2.0m | 1.8m | 1.6m | 1.8m | 1.6m | 1.6m |

## Total Debt | 5.4m | 5.3m | 5.7m | 5.9m | 5.9m | 5.7m | 3.6m | 3.5m | 3.2m | 3.5m | 2.0m | 3.3m | 3.3m | 2.8m | 2.8m |

## Additional Paid-in Capital | 17.6m | 17.7m | 19.1m | 19.2m | 19.3m | 19.5m | 19.8m | 19.9m | 20.0m | 21.1m | 21.2m | 21.3m | 21.5m | 21.6m | 21.8m |

## Retained Earnings | (4.5m) | (4.3m) | (4.2m) | (4.5m) | (4.6m) | (4.2m) | (4.1m) | (4.1m) | (3.8m) | (305.0k) | (359.0k) | (507.0k) | (1.7m) | (428.0k) | (39.0k) |

## Total Equity | 12.3m | 12.7m | 14.3m | 13.9m | 13.7m | 14.5m | 14.5m | 14.4m | 14.6m | 20.4m | 20.5m | 20.6m | 19.7m | 21.3m | 21.4m |

## Debt to Equity Ratio | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.3 x | 0.2 x | 0.2 x | 0.2 x | 0.1 x | 0.1 x | |||||

## Debt to Assets Ratio | 0.2 x | 0.2 x | 0.2 x | 0.2 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | |||||

## Financial Leverage | 2 x | 2 x | 1.9 x | 1.8 x | 1.9 x | 1.9 x | 1.8 x | 1.9 x | 1.8 x | 1.4 x | 1.4 x | 1.4 x | 1.4 x | 1.4 x | 1.4 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Net Income | (8.7m) | 2.0m | (353.0k) | 334.0k | 1.9m |

## Depreciation and Amortization | 1.6m | 1.1m | 1.2m | 1.3m | 1.2m |

## Accounts Receivable | 1.8m | 518.0k | (196.0k) | (271.0k) | 91.0k |

## Inventories | 132.2k | (395.0k) | (365.0k) | (1.1m) | (610.0k) |

## Accounts Payable | (364.3k) | (455.0k) | 304.0k | (176.0k) | 748.0k |

## Cash From Operating Activities | 1.7m | 1.9m | 836.0k | 2.1m | 1.5m |

## Purchases of PP&E | (544.9k) | (500.0k) | (1.6m) | (913.0k) | |

## Cash From Investing Activities | (464.6k) | 2.4m | (1.1m) | (1.6m) | (979.0k) |

## Long-term Borrowings | (2.2m) | (7.1m) | (5.2m) | (349.0k) | (621.0k) |

## Cash From Financing Activities | (2.2m) | (2.9m) | (2.3m) | 934.0k | (710.0k) |

## Net Change in Cash | 1.3m | (192.0k) |

USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 1.4m | 1.7m | 1.8m | (557.0k) | (684.0k) | (317.0k) | 69.0k | (1.0k) | 214.0k | 2.7m | 2.6m | 2.4m | (872.0k) | 383.0k | 756.0k |

## Depreciation and Amortization | 266.3k | 534.8k | 809.3k | 293.0k | 586.0k | 898.0k | 325.0k | 652.0k | 939.0k | 311.0k | 624.0k | 926.0k | 299.0k | 610.0k | 927.0k |

## Accounts Receivable | 600.2k | 447.3k | (70.2k) | (79.0k) | (40.0k) | (122.0k) | (1.1m) | (1.6m) | (1.8m) | (374.0k) | 152.0k | 74.0k | (333.0k) | (811.0k) | (362.0k) |

## Inventories | (224.5k) | (531.8k) | (491.7k) | 12.0k | (14.0k) | (530.0k) | (218.0k) | (1.1m) | (1.1m) | (280.0k) | (332.0k) | (408.0k) | (198.0k) | (279.0k) | (153.0k) |

## Accounts Payable | (8.6k) | 230.3k | 185.3k | (360.0k) | 108.0k | (116.0k) | 34.0k | 796.0k | (74.0k) | (99.0k) | (410.0k) | (197.0k) | (483.0k) | (646.0k) | (447.0k) |

## Cash From Operating Activities | 163.0k | 1.6m | 1.1m | (1.6m) | (582.0k) | (137.0k) | (702.0k) | (471.0k) | (407.0k) | (580.0k) | 436.0k | 292.0k | (953.0k) | (225.0k) | 1.1m |

## Purchases of PP&E | (130.9k) | (539.5k) | (500.0k) | (244.0k) | (456.0k) | (603.0k) | (982.0k) | (1.3m) | (111.0k) | (228.0k) | (455.0k) | (609.0k) | (1.0m) | (1.8m) | |

## Cash From Investing Activities | 4.2m | 3.8m | 3.0m | (212.0k) | (503.0k) | (599.0k) | (978.0k) | (1.3m) | (111.0k) | (292.0k) | (533.0k) | (625.0k) | (1.0m) | (1.9m) | |

## Long-term Borrowings | (4.4m) | (4.9m) | (6.8m) | (19.0k) | (38.0k) | (202.0k) | (4.3m) | (76.0k) | (740.0k) | ||||||

## Cash From Financing Activities | (4.0m) | (4.4m) | (3.4m) | 269.0k | 195.0k | 295.0k | 1.1m | 987.0k | 763.0k | (243.0k) | (401.0k) | (557.0k) | 118.0k | (38.0k) | (107.0k) |

## Net Change in Cash | (904.0k) |

USD | Y, 2018 |
---|---|

## EV/EBIT | 29.9 x |

## EV/CFO | 16.7 x |

## Debt/Equity | 0.1 x |

## Debt/Assets | 0.1 x |

## Financial Leverage | 1.4 x |

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