Business

Kelyniam Global Announces Strong Q1 Results and Sets Shareholder Meeting Date

CANTON, Conn., May 13, 2024 – Today, Kelyniam Global, a leading manufacturer of bespoke cranial implants, publicized its financial outcomes for the first quarter ending March 31, 2024. The results revealed significant growth and milestones in the company's revenue and profit margins.

Strong Financial Performance Indicators

The quarterly report unveiled remarkable improvements compared to the same period in the previous year. Key financial highlights from the three-month period ending March 31, 2024, are as follows:

Total revenue soared to $957,447, marking a considerable leap of 60.5% from $596,455 during the corresponding period in 2023. This significant surge underscores the company's expanding market presence and the growing demand for its custom cranial implants.

The company’s Gross Margin exhibited a similar growth trajectory, reaching $743,719, up 59.0% from $467,773. This increase reflects improved efficiency in production and enhanced cost management strategies.

Most notable is the turnaround from an operating loss to a profit. The Operating profit now stands at $123,599, a stark contrast to the previous year's deficit of $67,978. This signifies a striking enhancement to profitability by an impressive $191,577.

The fiscal accomplishments can be largely attributed to a multi-year endeavor to restructure the company’s costs and a strategic emphasis on operational excellence within the current year. More specifically, Kelyniam Global witnessed a reduction in consulting fees and information technology expenditures. These adjustments collectively contributed to the bolstered bottom line. The transparent and complete financial statements are easily accessible on the company’s website at www.kelyniam.com.

Leadership Commentary on Growth Factors

Desiree Webb, Kelyniam Global's Chief Operating and Revenue Officer, commented on the impressive results, "The strong sales momentum we experienced in the fourth quarter of last year seamlessly transitioned into the first quarter, culminating in unprecedented quarterly revenue and profit levels."

Webb attributed the continued success to an uptick in the utilization of Kelyniam's personalized cranial and craniofacial implants by surgeons and distributors, particularly those handling complex cases. The company's commitment to delivering results, combined with a targeted focus on customer service and streamlined operations, has played a critical role in this advancement. Furthermore, Kelyniam's ability to expedite RUSH cases, promising delivery within 24-48 hours anywhere in the United States, enhances its competitive edge in the market.

The CustomizedBoneä hydroxyapatite osteo-integrative cranial implant, especially indicated for pediatric patients, has seen a surge in interest. This attention is anticipated to continue growing, thanks in part to the recent approval of the NEOS Cranial Loop, which serves as a superior alternative to traditional suturing, ultimately reducing operating room times.

Upcoming Shareholder Engagement

In addition to these triumphs, Kelyniam Global announced the scheduling of its annual Shareholder Meeting. The event is set to take place on Monday, June 24 at 8:30 am Central Time. This meeting will provide a comprehensive platform for discussions encompassing the company's forward trajectory and strategic initiatives for continuous growth.

Commitment to Innovation and Customization in Healthcare

Kelyniam Inc. has established itself as a specialist in the swift production of custom prostheses, leveraging both computer-aided design and manufacturing of state-of-the-art medical-grade polymers. The company's dedication stretches beyond manufacturing, as it actively collaborates with healthcare professionals, hospital systems, and insurance providers to enhance the clinical outcomes and the financial aspects of patient care.

Kelyniam's extensive product line includes tailor-made cranial and maxillo-facial implants, catering to the specific needs of each patient. By integrating closely with medical practitioners, Kelyniam ensures that each implant it produces is suited to the unique contours and requirements dictated by the patient's condition.

The company’s commitment to industry-leading turnaround times and customer service excellence has positioned Kelyniam as a preferred partner for surgeons and healthcare institutions nationwide.

Further information about Kelyniam's efforts to revolutionize patient-specific implant technology is available on the company’s official website at www.Kelyniam.com.

Forward-Looking Information

As a reminder to investors, Kelyniam Global advises that certain statements made in this press release are forecasted in nature and constitute forward-looking information. These prognostications inherently involve uncertainties and risks that may cause the actual results to differ substantially. The factors that could contribute to such variations include shifts in the economic landscape, competitive pressures, the company’s capacity to fulfill its product and service sales plans, and variations in product marketing viability. These risks, alongside others, are periodically detailed in the company's reports filed with the SEC.

In Conclusion

The first quarter of 2024 marks a milestone period for Kelyniam Global, with financial markers not only illustrating definitive growth but also showcasing the resilience and potential of the company's business model. The positive trajectory of Kelyniam's product demand, coupled with strategic cost management and operational efficiency, indicates a robust outlook for the foreseeable future.

The Shareholder Meeting in June will likely be a point of eagerness for investors and analysts eager to understand the plans for capitalizing on the current momentum and exploring avenues for future expansion. The interest garnered by the company’s innovative CustomizedBoneä hydroxyapatite implant, particularly for pediatric use, alongside the NEOS Cranial Loop fixation technology promises new dimensions in surgical practice and patient care.

Market observers and participants are encouraged to consult the company's detailed financials for a clearer picture of its position and progress. Kelyniam Global, with a solid foundation in customized medical solutions and a clear vision for advancements in care, stands poised for another year of promising achievements and healthy shareholder returns.

As Kelyniam Global moves forward, their focus remains not only on financial prosperity but also on improving lives. The company's innovation in the medical field is a testament to the potential of technology and service quality to transform the healthcare industry. By maintaining a laser focus on product excellence and responsive service, Kelyniam reiterates its commitment to being at the forefront of cranial implant technology, contributing to better surgical outcomes and quality of life for patients across the United States.

Surgeons, healthcare providers, distributors, investors, and patients are invited to stay tuned to the developments at Kelyniam Global Inc, as the team continues to push boundaries and redefine the standards of medical care. With the anticipation of the upcoming Shareholder Meeting and the ever-present drive toward innovation, Kelyniam is a name that is expected to remain synonymous with high quality, precision, and life-changing medical solutions.

For more details on Kelyniam's products, services, and recent developments, including financial information and future company endeavors, please visit their official website as mentioned earlier in the article. They welcome and encourage stakeholder engagement through their online platform, offering transparency and accessibility to all interested parties.

(Note: The content above does not serve as investment advice. Interested parties should conduct their own due diligence or consult with their financial advisor before making any investment decisions based on the forward-looking statements or financial performance data provided herein.)

The Future Beckons

Looking ahead, Desiree Webb and the rest of the Kelyniam Global team are optimistic about the opportunities sprawling before them. As they prepare for the Shareholder Meeting, they remain focused on nurturing the sales momentum, expanding their client base, and pushing boundaries in medical technology.

As a company versed in overcoming challenges and setting benchmarks in the medical devices industry, Kelyniam is actively working towards sustaining its trajectory of growth and innovation. The future seems promising for this consummate market player as it maneuvers through the competition and regulatory landscapes, seeking to consistently elevate the standard of patient care through custom-tailored solutions.

Everyone with a vested interest in Kelyniam Global Inc, from healthcare professionals to shareholders, awaits the upcoming meeting with high expectations, ready to partake in discussions that will shape the company's strategies in the months and years to come.

With a clear vision and a robust strategy, Kelyniam Global Inc is set to continue its successful journey through the dynamic and evolving landscape of the healthcare industry. The anticipation surrounding the Shareholder Meeting is palpable, and the opportunities for further breakthroughs in medical technology are boundless. As the industry observes, Kelyniam advances with its pioneering spirit, driven by innovation, customer focus, and a commitment to bettering lives.

Investors and partners may follow Kelyniam Global's journey toward ongoing improvement and financial excellence by keeping abreast of announcements and detailed reports that the company makes available. Consistent communication and transparency are key aspects of Kelyniam's strategy as it builds trust and reinforces its standing in the industry.

As the company prepares for its annual Shareholder Meeting, the entire Kelyniam Global team remains diligent and forward-facing, with an unyielding passion to lead the way in custom prosthetics and contribute to the futures of the patients they serve.

In summary, Kelyniam Global Inc. stands as a testament to innovative growth and strategic leadership, destined to chart an impactful course in healthcare as it heads into the second quarter of 2024 and beyond.