Kelyniam Financials announces results for year ended December 31, 2023

Kelyniam Global announced results for its year ended December 31, 2023.

“The company set a quarterly unit sales record in the fourth quarter which contributed to achieving slight unit volume growth over 2022,” said Ross Bjella, Kelyniam’s CEO. “While we were pleased with the increased sales momentum late in the year, total revenue was down 12% on the year due to management focusing on strategic investments in personnel and infrastructure in the early part of the year.”

Financial highlights for the year ended December 31, 2023, over the same period in 2022 includes:

• Total revenue of $ 2,672,357 compared to $3,017,599 a decrease of 12%
• Operating income of -239,166 compared to $69,322, a decrease 345%
• Net Income of -$218,471 compared to -$97,560, a decrease of 222%

“Unit and revenue growth in Q4 over the previous quarter was 40%, making up for slower than expected summer sales. The infrastructure investments we made earlier in the year were designed to support rapid growth and it’s great to already see the positive result of this work,” said Bjella.

Events that significantly affected the year and 4th quarter included:

• Unit growth was up 40% over the previous quarter.
• A major competitor pulled their implant from the market, opening an opportunity for increased PEEK and CustomizedBoneä sales.
• The company added 5 new sales representatives as distributor partners,

“Kelyniam has both sales momentum and a tremendous opportunity to capitalize on the loss of a direct competitor in the market,” said Bjella. “Surgeons who liked the osteointegrative benefits of that implant can find similar or better results with the CustomizedBoneä (hydroxyapatite) implant Kelyniam licensed exclusively from Finceramica. Together with the OsteoStripä and Osteoplugä product lines from Osteopore, Kelyniam is well positioned to become the leader in regenerative options for U.S. surgeons.”
MB Bureau