Biomaterials firm SINTX misses Q3 revenue estimates

Reuters
Nov 13
Biomaterials firm SINTX misses Q3 revenue estimates

Overview

  • SINTX Q3 revenue of $0.2 mln missed analyst expectations

  • Operating expenses decreased 51% yr/yr, reducing operating loss to $3.4 mln

  • Company strengthened liquidity with $4.3 mln raised through warrant exercises

Outlook

  • SINTX plans to launch the SINAPTIC wedge system in the near term

  • Company aims to expand clinical engagement in targeted surgical specialties

  • SINTX intends to leverage material science for polymer composites in implants

Result Drivers

  • FIRST PRODUCT REVENUE - Recorded initial revenue from OsseoSculpt, a private-labeled orthobiologic product

  • FACILITY OPTIMIZATION - Subleased Armor facility, saving up to $950,000 in lease costs

  • STRENGTHENED LIQUIDITY - Raised $4.3 mln through warrant inducement and exercises

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$200,000

$400,000 (1 Analyst)

Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

  • Wall Street's median 12-month price target for SINTX Technologies Inc is $25.00, about 86.3% above its November 12 closing price of $3.43

Press Release: ID:nGNX3fwCk3

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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