Sintx Technologies provides corporate update on strategic initiatives

Sintx Technologies (SINT) provided an update on its recent strategic initiatives and financial performance. Sintx continues to restructure its operations to focus on high-impact, sustainable markets in the medical device industry. In Q3, the company made the decision to cease operations of its armor division and recorded a one-time $4.5M impairment charge. This move aligns with Sintx’s emphasis on reallocating resources towards the medical device market, where the Company sees the greatest potential for growth. Additionally, the company implemented a reduction in workforce during Q3. Sintx also reported improvement in liquidity, closing the quarter with $4.8M in cash, up from $3.3M at year-end 2023, fueled by strategic offerings that raised $9.4M year-to-date. During Q3, Sintx achieved growth in revenue, with an 18% total increase in the same quarter last year. The company is currently exploring new collaborations with strategic advisory partners to evaluate potential merger candidates, acquisitions, strategic partners and sale of business divisions.