SINTX Technologies Inc

sintx.com

What Do They Do?

Makes and sells silicon nitride implants and biomaterials for medical-device makers, plus ceramic components for aerospace, electrical and other industrial customers.

How Do They Make Money?

Customers buy manufactured products, with payment tied to shipment; government agencies provide grants and contracts, earned as eligible costs are incurred or milestones are met.

revenue

Segment	Share	Revenue	How money arrives
Product Sold outright	72% FY2022: 39%		Sold outright
Grant and Contract Recurring	28% FY2022: 62%		Recurring

Who Are Their Customers?

Medical-device makers buy spinal products and aerospace manufacturers buy ceramic components; government agencies provide grants and contracts. Foot-and-ankle implants are sold through independent orthopedic distributors.

Do Revenues Turn Into Profits?

No. It lost $10.4M in FY2025.

Operating income, FY2025

−1053% of revenue

▼ −24% (Loss) vs FY2024 (−$14M, −487%)

Net income, FY2025

−1018% of revenue

▼ −6% (Loss) vs FY2024 (−$11M, −382%)

Free cash flow, FY2025

−860% of revenue

▼ −6% (Loss) vs FY2024 (−$9.3M, −323%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +199%; vs $151K in Q2 FY2025
Net income: ▲ +17% (Loss); vs −$2.3M in Q2 FY2025

Product share of revenue vs 66.2% in Q2 FY2025

Aug 13, 2026 Regained Nasdaq minimum-equity listing compliance Nasdaq closed the deficiency matter after the company reported stockholders’ equity of $4,830,000.
Aug 11, 2026 Gave revenue outlook for the third and fourth quarters Expected total revenue of approximately $900,000 to $1.1 million in the third quarter and $1.0 million to $1.3 million in the fourth quarter.

Growing. Revenue grew 68% in 4 years, from $606K in FY2021 to $1M in FY2025, about 14% a year.

Refocus on proprietary medical devices The earlier report described diversification across biomedical, technical and antipathogenic applications, making products for outside partners. The latest report describes reducing non-core manufacturing work for other companies and focusing on commercializing proprietary silicon nitride medical devices.

Foot-and-ankle implants move toward market The older report listed foot wedges as a possible application; the latest reports U.S. clearance for a foot-and-ankle osteotomy wedge system, moving that use from a potential application to a cleared product.

Revenue over time

Product Grant and Contract

$5M$2.5M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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