In light of the announcement of the third fiscal quarter financial results from Kelyniam Global Inc. (OTC:KLYG) today, it is likely that its stock is going to be on focus among investors this week. Ahead of the beginning of trading today, investors could do well to take a look into the key numbers.
Strong Performance
The Kelyniam Global stock may be one to watch after it delivered strong financial results. The company reported revenues of $2,492,607, which reflected growth of 43% from the $1,741,587 that it reported in the prior year period. The company also swung back to profits with an operating profit of $273,248 as opposed to a loss of $329,993 in the prior year quarter.
The gross margins also improved 44% year on year to hit $1,956,714 from $1,349,684 in the prior year quarter. Lastly, the EBITDA stood at $349,099 compared to a loss of $254,726 in the prior year quarter.
Rising Sales
In the news release, the company also announced that its team had become further emboldened with the rise in sales as well as the addition of new customers and hospitals to its database. Additionally, Kelyniam Global also put a strong expense management regiment in place, which also helped with the strong performance in the quarter.
Key Quote
“We are proud of our profitable growth in 2024,” said Bjella. “Our team has been invigorated by rising sales, the addition of new surgeons and hospital customers, and a stringent focus on expense management. These results support Kelyniam’s capability to generate cash and capitalize on our operating model’s leverage. While pricing pressures persist, strategic growth and diligent expense management have driven the significant turnaround in our operating profit.”
