Kelyniam Global Releases Q3 Financials, Strong Performance Continues

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Nov 11, 2024, 00:01 ET

CANTON, Conn., Nov. 11, 2024 /PRNewswire/ -- Kelyniam Global (OTC: KLYG), a maker of custom cranial implants, today announced results for the third quarter ended September 30, 2024.

"Kelyniam has consistently delivered strong performance year on year," said Ross Bjella, CEO of Kelyniam. "Our unwavering focus on overnight service and quality has been reflected in our third-quarter results."

Financial Highlights (Nine months ended September 30, 2024, vs. September 30, 2023)

Total Revenue: $2,492,607, up 43% from $1,741,587
Gross Margin: $1,956,714, up 44% from $1,349,684
Operating Profit: $273,248, compared to a loss of ($329,993), marking an improvement of $603,241
EBITDA: $349,099, compared to a loss of ($254,726) marking an improvement of $603,825

"We are proud of our profitable growth in 2024," said Bjella. "Our team has been invigorated by rising sales, the addition of new surgeons and hospital customers, and a stringent focus on expense management. These results support Kelyniam's capability to generate cash and capitalize on our operating model's leverage. While pricing pressures persist, strategic growth and diligent expense management have driven the significant turnaround in our operating profit."

Other events occurring in the third quarter included:

Greater market acceptance for the CustomizedBoneÔ (hydroxyapatite) regenerative implant
Greater trial and usage of the NEOS Cranial Loop fixation
Attendance at the College of Neurological Surgeons annual meeting

Kelyniam Inc., specializes in the rapid production of custom prosthetics utilizing computer aided design and computer aided manufacturing of advanced medical grade polymers. The Company develops, manufactures, and distributes custom cranial and maxillo-facial implants for patients. Kelyniam works directly with surgeons, health systems and payors to improve clinical and cost-of-care outcomes. Kelyniam's web site address is www.Kelyniam.com.

As a cautionary note to investors, certain matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its service and product sales plans; changes in the status of ability to market products; and the risks described from time to time in the Company's SEC reports. Contact: Terrance Kurtenbach, Chief Financial Officer, Kelyniam Inc. (800) 280-8192

SOURCE Kelyniam Global Inc