Silynxcom Announces Record Annual Revenue of Approximately $9.1 million in 2024
May 14 2025 - 9:15AM
Silynxcom Ltd. (NYSE American: SYNX) ("Silynxcom" or the
"Company"), a manufacturer and developer of ruggedized tactical
communication headset devices, has released its consolidated
financial results for the full year period ended December 31,
2024.
Key Financial Highlights for 2024:
- Revenues for the year ended December 31, 2024 increased to a
record of $9.1 million, up approximately 18% from the previous
year. This growth reflects the Company’s ongoing expansion and
product adoption.
- Cash and cash equivalents as of December 31, 2024 totaled $3.2
million.
- Gross profit for the year ended December 31, 2024 amounted to
approximately $3.8 million, up 17% compared to $3.2 million from
the same period in the previous year.
Recent Corporate Highlights:
- On April 2, 2025, the Company announced the closing of
underwritten public offering of, for gross proceeds of
approximately $2.9 million, before deducting underwriting discounts
and offering expenses.
- Entry into drone detection technology- the Company introduced
an armored personnel carrier headset that enhances battlefield
awareness by detecting drone noise while maintaining hearing
protection.
- Received $10 Million in orders from the Israel Defense Forces
Since October 7, 2023.
- Asia Pacific Growth- expanded sales operations in the Asia
Pacific region.
- Enhanced its position as a market innovator with new orders
from militaries, special units and police departments
worldwide.
- Advanced its revolutionary in-ear communication solution with
real-time vital signs monitoring.
- Successfully completed field trials for its innovative product,
aimed at boosting situational awareness and safety for armored
personnel carrier crews and other heavy military vehicles, with a
military force in Asia.
The Company has filed its Annual Report on Form 20-F for the
year ended December 31, 2024 (the “Annual Report”) with the U.S.
Securities and Exchange Commission (“SEC”), which can be accessed
on its website at https://www.silynxcom.com/. Shareholders may
request, free of charge, a hard copy of the Annual Report, which
includes Silynxcom’s complete audited consolidated financial
statements for the year ended December 31, 2024, by
contacting ir@silynxcom.com.
About Silynxcom Ltd.
Silynxcom Ltd. develops, manufactures, markets, and sells
ruggedized tactical communication headset devices as well as other
communication accessories, all of which have been field-tested and
combat-proven. The Company's in-ear headset devices, or In-Ear
Headsets, are used in combat, the battlefield, riot control,
demonstrations, weapons training courses, and on the factory floor.
The In-Ear Headsets seamlessly integrate with third party
manufacturers of professional-grade ruggedized radios that are used
by soldiers in combat or by police officers in leading military and
law enforcements units. The Company's In-Ear Headsets also fit
tightly into the protective gear to enable users to speak and hear
clearly and precisely while they are protected from the hazardous
sounds of combat, riots or dangerous situations. The sleek,
lightweight, In-Ear Headsets include active sound protection to
eliminate unsafe sounds, while maintaining ambient environmental
awareness, giving their customers 360° situational awareness. The
Company works closely with its customers and seek to improve the
functionality and quality of the Company's products based on actual
feedback from soldiers and police officers "in the field." The
Company sells its In-Ear Headsets and communication accessories
directly to military forces, police and other law enforcement
units. The Company also deals with specialized networks of local
distributors in each locale in which it operates and has developed
key strategic partnerships with radio equipment manufacturers.
For additional information about the company please
visit: https://silynxcom.com
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other federal
securities laws and are subject to substantial risks and
uncertainties. Forward-looking statements contained in this press
release may be identified by the use of words such as "anticipate,"
"believe," "contemplate," "could," "estimate," "expect," "intend,"
"seek," "may," "might," "plan," "potential," "predict," "project,"
"target," "aim," "should," "will" "would," or the negative of these
words or other similar expressions, although not all
forward-looking statements contain these words. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. These and other risks and
uncertainties are described more fully in the section titled "Risk
Factors" in the Company's Annual Report on Form 20-F for the year
ended December 31, 2024 filed with the U.S. Securities and Exchange
Commission (the "SEC") on May 13, 2025, and other documents filed
with or furnished to the SEC which are available on the SEC's
website, www.sec.gov. The Company cautions you not to place
undue reliance on any forward-looking statements, which speak only
as of the date they are made. The Company undertakes no obligation
to update these statements for revisions or changes after the date
of this release, except as required by law.
Capital Markets & IR Contact
Michal Efratyir@silynxcom.com
Silynxcom (AMEX:SYNX)
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