Kelyniam Global Releases Q1 Financials

Announces Shareholder Meeting

CANTON, Conn., May 13, 2024  /PRNewswire/ -- Kelyniam Global (OTC: KLYG), a maker of custom cranial implants, today announced results for its quarter ended March 31, 2024. 

Financial highlights for the three months ended March 31, 2024 and the same period in 2023 include: 

• Total revenue of $957,447 compared to $596,455, an increase of 60.5%
• Gross Margin of $743,719 compared to $467,773 an increase of 59.0%
• Operating profit of $123,599 compared to a loss of $67,978 representing an increase to profitability of $191,577

Profitability was strongly enhanced by a year's long effort in reconfiguring the Company's structural costs and a tight focus on this year's operations.  The Company saw those efforts pay off with decreased consulting fees and information technology costs which positively affected the bottom line.  The complete financials can be found at www.kelyniam.com.

Chief Operating and Revenue Officer, Desiree Webb, said, "Sales momentum from Q4 continued into Q1, resulting in record growth, quarterly revenue and profit.  Surgeons and Distributors using Kelyniam custom cranial and craniofacial implants have increased, in addition to the level of case complexity. This is a result of proven outcomes, a laser focus on customer service and operations, and Kelyniam's ability to deliver RUSH cases within 24-48 hours to any hospital in the United States.  Interest in the CustomizedBoneä hydroxyapatite osteo-integrative cranial implant continues to grow, particularly due to the indication for pediatric patients. Looking forward we expect to see continued interest in this unique cranial implant because of the recent approval of the NEOS Cranial Loop fixation vs. traditional suturing, resulting in decreased OR time."

The company also announced the date of the annual Shareholder Meeting which will be held on Monday, June 24 at 8:30 am Central.

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. 

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SOURCE Kelyniam Global Inc