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Escalon Medical Corp

escalonmedical.com

What Do They Do?

Sells ophthalmic medical devices and surgical products to medical institutions worldwide.

How Do They Make Money?

Customers are billed for device sales when products ship and for AXIS installation and care plans after installation; care-plan service is provided over the service period.

revenue
SegmentShareRevenue
Product
Sold outright

95%
FY2023: 95%
Service
Recurring
5.1%
FY2023: 5.1%

Who Are Their Customers?

Medical institutions worldwide buy through independent sales representatives and distributors, or directly from internal sales employees.

Customers above 10% of revenue, FY2026
of revenue from one customer
FY2025: 17% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 32 cents of every revenue dollar as net income in FY2026, but spent more cash than it brought in: free cash flow was −$407K.

Operating income, FY2026
0% of revenue
▼ −66% vs FY2025 ($133.2K, 1%)
Net income, FY2026
32% of revenue
▲ +3703% vs FY2025 ($105.5K, 1%)
Free cash flow, FY2026
−3% of revenue
▼ Now a loss vs FY2025 ($376.8K, 3%)

How Are They Changing?

Growing. Revenue grew 19% in 4 years, from $10.7M in FY2022 to $12.7M in FY2026, about 4% a year.

AXIS software sale The older report describes the AXIS Image Management system as a company product; the latest report says the company sold its AXIS software.

Revenue over time
Product Service
$20M$10M$0

Who Do They Compete With?

Competes with Quantel, Accutome, Alcon Laboratories, Bausch & Lomb, Carl Zeiss Meditec, and Topcon Healthcare Solutions

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