Sintx Technologies sees Q4 revenue $902,000

SINTX Technologies announced that its estimated unaudited revenues were approximately $902k in Q4 2023, and $2.6 million for the year ended December 31, 2023. These preliminary results are subject to the Company’s standard year-end financial reporting processes, reviews, and audits. SINTX acquired Maryland-based Technology Assessment and Transfer in June 2022. Since that time, the Company has experienced an 18% increase in Q4 2023 revenue versus Q4 2022, and a 68% increase in 2023 revenue compared to 2022 revenue. Notably, 2023 revenue figures reflect a 333% increase in revenues for the year that ended December 31, 2021. Commercial revenues of $582K in Q4 2023 and $1.2 million for the full year 2023 were achieved primarily by the sale of products in the aerospace, biomedical, and energy markets. Government contracts in these markets made up $320K in Q4 and $1.4 million for the full year. Customer adoption of new product offerings led to commercial revenue exceeding government contracts in Q4 2023 – for the first time since acquisition of TA&T. The Company continued its successful restructuring and expansion into the defense, aerospace, and industrial markets for advanced ceramic materials and related technologies. SINTX anticipates continued revenue growth in 2024 driven primarily by new commercial product adoption, innovative technology development, and government contract opportunities. Given the underlying growth in the aerospace, biomedical, and energy markets, these represent significant target opportunities for SINTX – both for commercial and government contract revenue streams. The Company also expects to re-engage the ballistic and body armor market during 2024, as armor operations come back online, and demand for these products remains strong.