KELYNIAM ACHIEVES RECORD REVENUE & PROFITABILITY FOR 2024

Rhea-AI Summary

Kelyniam Global (OTC:KLYG), a custom cranial implants manufacturer, reported record financial results for 2024. The company achieved total revenue of $3,328,382, marking a 24.6% increase from $2,672,357 in 2023. Operating income improved significantly to $277,037 from a loss of ($239,166), representing a $515,203 improvement.

The company's EBITDA turned positive at $322,824 compared to a loss of $189,758 in 2023. Key operational achievements included expanding to 15 new hospitals, completing an FDA audit with minor observations, and sponsoring the Skull Base 360 wet lab at the University of Maryland. The company plans to focus on strengthening partnerships, in-licensing products, and pursuing organic growth in 2025, with significant investments planned in sales and business development activities.

Positive

• Revenue increased 24.6% to $3.33M in 2024
• Operating income improved by $515,203 to reach $277,037
• EBITDA turned positive at $322,824 from previous year's loss
• Expanded customer base with 15 new hospitals
• Successfully completed FDA audit with only minor observations

Negative

• None.

CANTON, Conn., March 17, 2025 /PRNewswire/ -- Kelyniam Global (OTC:KLYG), a manufacturer of custom cranial implants, has announced its financial results for the year ended December 31, 2024.

"Kelyniam had an exceptionally strong year in 2024," stated Ross Bjella, Kelyniam's CEO. "This marks the strongest performance in the company's history both financially and operationally. Our success is attributed to our dedicated team of distributors and to Desiree Webb, Vice President of Operations and Business Development, who has developed a skilled manufacturing team that ensures the timely delivery of high-quality custom PEEK implants."

Financial highlights for the year ended December 31, 2024, compared to the same period in 2023 include:

Total revenue: $3,328,382 compared to $2,672,357, an increase of 24.6%

Operating income: $277,037 compared to a loss of ($239,166), an improvement of $515,203

EBITDA: $322,824 compared to an EBITDA loss of $189,758, reflecting an earnings/cash contribution of $512,582

Events that significantly influenced the year included:

• 15 new hospitals purchased implants from Kelyniam in 2024
• Completion of an FDA audit late last year resulting in 5 minor observations, all of which have been addressed
• Sponsorship of the Skull Base 360 wet lab at the University of Maryland, enhancing relationships with leading teaching institutions

The complete financials are available on the company's website at www.Kelyniam.com.

"We look forward to building on the success of 2024 by strengthening our relationships with current partners, in-licensing products, and pursuing organic growth," Bjella continued. "Kelyniam will significantly invest in sales and business development activities in 2025. The company is well-positioned to partner with foreign companies with cranial surgery products seeking a distribution partner or access to a U.S. FDA-approved manufacturing facility."

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.  

View original content:https://www.prnewswire.com/news-releases/kelyniam-achieves-record-revenue--profitability-for-2024-302402509.html

SOURCE Kelyniam Global Inc

FAQ

What was Kelyniam Global's (KLYG) revenue growth in 2024?

Kelyniam Global's revenue grew 24.6% to $3,328,382 in 2024, compared to $2,672,357 in 2023.

How much did KLYG's operating income improve in 2024?

Operating income improved by $515,203, reaching $277,037 in 2024 from a loss of $239,166 in 2023.

How many new hospitals did Kelyniam (KLYG) add as customers in 2024?

Kelyniam added 15 new hospitals as customers in 2024.

What was Kelyniam's (KLYG) EBITDA performance in 2024?

EBITDA improved to $322,824 in 2024 from a loss of $189,758 in 2023, a positive swing of $512,582.

What are Kelyniam's (KLYG) growth plans for 2025?

Kelyniam plans to invest in sales and business development, strengthen partnerships, in-license products, and pursue organic growth in 2025.