Kelyniam Global Announces 1st Half Results Outstanding Quarter and Sales Momentum into the Second Half

Rhea-AI Summary

Kelyniam Global (OTC:KLYG), a producer of custom cranial implants, reported a strong Q2 2022 with a 20% revenue increase to $1,469,354, compared to $1,224,059 in Q2 2021. The CustomizedBone® implant significantly contributed to this growth. Operating income was $38,394, slightly down from $47,167 in the same period last year. Investments in infrastructure and marketing were funded without additional debt. The company anticipates continued sales momentum and benefits from returning surgical activity trends.

Positive

• 20% revenue growth to $1,469,354 compared to Q2 2021.
• Operating income of $38,394 despite a slight decrease from previous year.
• Investments made in infrastructure and marketing funded from operating income, avoiding new debt.

Negative

• Operating income decreased from $47,167 in Q2 2021 to $38,394 in Q2 2022.

CANTON, Conn., Aug. 15, 2022 /PRNewswire/ -- Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its quarter ended June 30, 2022. 

"Our strong sales performance in Q2 resulted in 20% growth over the same period last year, and 10% growth over the previous quarter. Sales from Finceramica's CustomizedBone® implant contributed to this performance and we expect the sales momentum to continue into Q3. Further, we are making good progress toward improving surgeon access to our product line through additional Group Purchasing Organization contracts", said Ross Bjella, Kelyniam's CEO. "2022 surgical activity is returning to historical trends so the Company expects to benefit from the upward trend in surgical volume with less variability due to new Covid variant transmission and the associated effect of delayed procedures." 

The company also made significant investments in infrastructure, regulatory matters and marketing over the previous six months. These investments demonstrate the Company's pursuit of top line growth and the infrastructure necessary to support it. The company is funding the investments out of operating income and has not taken on additional debt. 

Financial highlights for the six months ended June 30, 2022 and the same period in 2021 include:

• Total revenue of $1,469,354 compared to $1,224,059 for solid growth of 20.0%
• Gross margin of $1,186,419 compared to $ 944,463
• Operating Income of $ 38,394 compared to of $47,167

The complete financials can be found on the company's website at www.Kelyniam.com. 

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-global-announces-1st-half-results-outstanding-quarter-and-sales-momentum-into-the-second-half-301605393.html

SOURCE Kelyniam Global, Inc.

FAQ

What are Kelyniam Global's Q2 2022 revenue results?

Kelyniam Global reported Q2 2022 revenue of $1,469,354, reflecting a 20% increase from the previous year.

How did Kelyniam Global's operating income change in Q2 2022?

Kelyniam Global's operating income decreased to $38,394 in Q2 2022 from $47,167 in Q2 2021.

What contributed to Kelyniam Global's revenue growth in Q2 2022?

The CustomizedBone® implant significantly contributed to Kelyniam Global's revenue growth in Q2 2022.

What investments has Kelyniam Global made recently?

Kelyniam Global has made significant investments in infrastructure and marketing funded from its operating income.

What is Kelyniam Global's outlook for Q3 2022?

Kelyniam Global expects to maintain sales momentum into Q3 2022, benefiting from increased surgical activity.