Kelyniam Global (OTC: KLYG), a leader in the innovative field of custom cranial implants, is proud to report outstanding results for its year ended December 31, 2022. The advances made in the production of these life-changing medical devices have translated into strong revenue growth and a bright outlook for the future.
For the past six years, Kelyniam’s CEO Ross Bjella has seen the company thrive – despite facing much larger competitors. Neurosurgeons turn to Kelyniam for their PEEK custom cranial implants that are shipped within 24 hours, a service unimaginable with other competitors. What’s more, hospital buyers appreciate the cost-effectiveness of Kelyniam’s patented, fully integrated fixation system that requires fewer screws and eliminates the need for plates.
For the year ended December 31, 2022, financial highlights demonstrate a marked improvement over the same period in 2021. Significant gains were seen in areas such as revenue, profits, and cash flow, demonstrating the success of strategic initiatives. These gains, when coupled with cost control and efficiency improvements, have positioned the company for continued growth and success in the coming year.
Our financial performance was strong in the last period, with total revenue increasing 13.2% to $3,017,599 compared to the previous period of $2,664,434. Operating income decreased from $180,445 to $69,322, however, we achieved a net loss of $97,560, compared to net income of $201,741 in the previous period.
The operating income for 2021 has been affected by PPP loan forgiveness, while 2022’s net income has been impacted by legacy stock award grants dating back to 2017. This shows how much the financial landscape has changed in just one year, and highlights the need for businesses to keep up with the ever-evolving nature of the market.
The year was marked by significant events that had a profound impact on the world. From the United Kingdom’s referendum to leave the European Union to the election of Donald Trump as President of the United States, the year was full of moments that changed the course of history. Additionally, the Zika virus outbreak in Latin America, the continued civil war in Syria, and the Paris Agreement on climate change were all major events that made 2016 a year to remember.
To capitalize on growth opportunities and comply with regulatory requirements, Fin-Ceramica has made a significant investment in the necessary infrastructure and executed a distribution agreement for its Customized Bone cranial implant. To further this progress, the company has added personnel to its sales and marketing team.
Kelyniam is poised to revolutionize the neurosurgery market in 2023 and beyond. Leveraging their expertise in custom and additive manufacturing, the company is investing in the development and licensing of unique products that will bring high value to the medical device industry. It’s an exciting time for Kelyniam as they look to make their mark in the industry.
Kelyniam Inc. is revolutionizing the way custom prosthetics are created. Utilizing cutting-edge computer-aided design and manufacturing, Kelyniam produces medical-grade polymer prosthetics at a rapid pace. The company works with surgeons, health systems and payors to develop, manufacture and distribute custom cranial and maxillo-facial implants that help improve patient outcomes and reduce the cost of care.