Sintx Technologies Reports Q2 2024 Results, Revenue Declines

TL;DR

SINT revenue down in Q2, losses widening. Uh oh.

AI Summary

Sintx Technologies, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported revenue of $1.1 million for the three months ended June 30, 2024, a decrease from $1.3 million in the same period of 2023. For the six months ended June 30, 2024, revenue was $2.1 million, down from $2.5 million in the prior year. The company's net loss for the second quarter of 2024 was $2.1 million, compared to a net loss of $1.7 million in the second quarter of 2023.

Why It Matters

The decline in revenue and increase in net loss for Sintx Technologies in Q2 2024 indicates potential challenges in sales performance and profitability, which could impact investor confidence and future growth prospects.

Risk Assessment

Risk Level: medium — The company's declining revenues and increasing net losses suggest potential financial instability and operational challenges.

Key Numbers

• $1.1M — Q2 2024 Revenue (Down from $1.3M in Q2 2023.)
• $2.1M — YTD 2024 Revenue (Down from $2.5M YTD 2023.)
• $2.1M — Q2 2024 Net Loss (Increased from $1.7M in Q2 2023.)

Key Players & Entities

• Sintx Technologies, Inc. (company) — Filer of the 10-Q report.
• June 30, 2024 (date) — End of the reporting period for the 10-Q.
• $1.1 million (dollar_amount) — Revenue for the three months ended June 30, 2024.
• $1.3 million (dollar_amount) — Revenue for the three months ended June 30, 2023.
• $2.1 million (dollar_amount) — Revenue for the six months ended June 30, 2024.
• $2.5 million (dollar_amount) — Revenue for the six months ended June 30, 2023.
• $2.1 million (dollar_amount) — Net loss for the second quarter of 2024.
• $1.7 million (dollar_amount) — Net loss for the second quarter of 2023.

FAQ

Filing Documents

• form10-q.htm (10-Q) — 936KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32.htm (EX-32) — 7KB
• 0001493152-24-031644.txt ( ) — 5105KB
• sint-20240630.xsd (EX-101.SCH) — 40KB
• sint-20240630_cal.xml (EX-101.CAL) — 53KB
• sint-20240630_def.xml (EX-101.DEF) — 177KB
• sint-20240630_lab.xml (EX-101.LAB) — 353KB
• sint-20240630_pre.xml (EX-101.PRE) — 265KB
• form10-q_htm.xml (XML) — 736KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 28

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 28

Other Information

Item 5. Other Information 28

Exhibits

Item 6. Exhibits 29

Signatures

Signatures 30 2 SINTX Technologies, Inc. Condensed Consolidated Balance Sheets - Unaudited (in thousands, except share and per share data) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 4,557 $ 3,340 Account and other receivables, net of allowance totaling 68 and 72 respectively 434 685 Prepaid expenses and other current assets 384 539 Inventories 445 888 Other current assets 41 80 Total current assets 5,861 5,532 Inventories, net 575 333 Property and equipment, net 4,815 4,826 Intangible assets, net 19 21 Operating lease right of use asset 3,791 4,094 Other long-term assets 235 559 Total assets $ 15,296 $ 15,365 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 331 $ 636 Accrued liabilities 1,558 1,404 Debt 241 46 Derivative liabilities 397 304 Current portion of operating lease liability 494 512 Other current liabilities - 4 Total current liabilities 3,021 2,906 Operating lease liability, net of current portion 3,429 3,687 Total liabilities 6,450 6,593 Commitments and contingencies - - Stockholders' equity: Convertible preferred stock Series B, $ 0.01 par value, 130,000,000 total shares authorized inclusive of all series of preferred; 15 and 26 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. - - Convertible preferred stock Series C, $ 0.01 par value, 130,000,000 total shares authorized inclusive of all series of preferred; 50 shares issued and outstanding as of June 30, 2024 and December 31, 2023. - - Convertible preferred stock Series D, $ 0.01 par value, 130,000,000 total shares authorized inclusive of all series of preferred; 180 shares issued and outstanding as of June 30, 2024 and December 31, 2023. - - Preferred stock value - - Common stock, $ 0.01 par value, 250,000,000 shares authorized; 748,341 and 26,603 shares issued and outsta

View Full Filing

View this 10-Q filing on SEC EDGAR