SINTX Technologies Reports $2.89 Million Revenue with 10% Growth, Faces $11.02 Million Net Loss

SINTX Technologies, Inc. reported a total revenue of $2.89 million for the fiscal year ending December 31, 2024, marking a 10% increase from $2.63 million in 2023. The growth was driven by a 17% rise in grant and contract revenue, which reached $1.64 million, while product revenue remained relatively stable at $1.25 million. Despite this revenue growth, the company incurred a net loss of $11.02 million, a 33% increase from the previous year's loss of $8.26 million. The increase in losses was attributed to higher operating expenses, including a significant $4.6 million impairment charge related to the company's armor division, which has been shut down since October 2023.

In terms of operational changes, SINTX Technologies has undergone a strategic shift, focusing on the development and commercialization of innovative medical devices, particularly those utilizing silicon nitride technology. This transition follows the sale of its subsidiary, Technology Assessment and Transfer, Inc. (TA&T), to Tethon Corporation in February 2025, which allowed SINTX to streamline its operations and concentrate on core biomedical applications. The company also implemented a reduction in workforce, decreasing its employee count from 40 to 23, which is expected to enhance operational efficiency and reduce costs.

The company’s manufacturing capabilities are centered in Salt Lake City, Utah, where it operates a facility that is FDA registered and ISO certified. As of December 31, 2024, SINTX had 20 employees and reported an accumulated deficit of $281.7 million. The company is actively seeking additional funding to support its operations and product development, having recently raised $5 million through a private placement transaction. This funding is intended for general corporate purposes and working capital.

Looking ahead, SINTX Technologies aims to leverage its expertise in advanced ceramics to expand its footprint in the medical device sector. The company is focusing on high-growth areas, including orthopedic implants and spinal fusion devices, which are expected to benefit from the unique properties of silicon nitride. However, the company acknowledges the challenges it faces, including competition from larger, established firms and the need for regulatory approvals for its product candidates. The management remains optimistic about the potential for growth and innovation in the medical field, contingent upon successful execution of its strategic initiatives.