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Kelyniam Global Releases Strong Q2 Financials
Kelyniam Global Releases Strong Q2 Financials.
About this update from Kelyniam Global, Inc.
[{"type":"text","content":"\n\n\n\nKelyniam Global Releases Strong Q2 Financials\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nKelyniam Global Releases Strong Q2 Financials\nPR Newswire\nCANTON, Conn., Aug. 12, 2024\n\n\n\nCANTON, Conn., Aug. 12, 2024 /PRNewswire/ -- Kelyniam Global (OTC: KLYG), a maker of custom cranial implants, today announced results for its half year ended June 30, 2024.\n\nFinancial highlights for the six months ended June 30, 2024 and the same period in 2023 include:\nTotal revenue of $1,709,239 compared to $ 1,147,045, an increase of 49.01%Gross Margin of $1,330,965 compared to $871,510 an increase of 52.7%Operating profit of $172,093 compared to a loss of $229,345 representing an increase to profitability of $401,438EBITDA (new metric to report) of $197,355 compared to an EBITDA loss of $204,691.The increase in profitability was primarily due to increased sales, efficiency improvements and reducing software, insurance and consulting expenses. Sales for the first half of the year have remained strong as additional surgeons request implants with Kelyniam's patented integrated fixation in the PEEK implant product line. Sales from the hydroxyapatite CustomizedBone™ implant with NEOS Cranial Loop fixation also increased as the products continue to gain market acceptance. \nOther events occurring in the second quarter included: \nThe 2nd annual Shareholder Meeting was held June 26, Ms. Desiree Webb and Mr. Jonathan Thiel were elected to the Board of Directors.The company sponsored a number of events at the American Academy of Neurosurgeons meeting in May in Chicago. Dr. Franco Servadei, an experienced neurotrauma surgeon and former President of the World Federation of Neurological Societies, spoke about the safety and use of hydroxyapatite implants. CustomizedBone™ is the only hydroxyapatite cranial implant indicated for pediatric use in children as young as 7 years of age.Kelyniam's partner, Fin-Ceramica Faenze, S.p.A., received FDA 510k clearance of the NEOS Cranial Loop for use with CustomizedBone™Kelyniam Inc., specializes i...