Company Update - Silynxcom Ltd received a new purchase order valued at $330,000 from the Israel Defense Forces (IDF), bringing the total accumulated orders from the IDF to over $2.33 million since the beginning of Q3 2024 [1] - The company's CEO, Nir Klein, emphasized the importance of this milestone, stating it reflects the confidence in Silynxcom's solutions and highlights its strengthening position as a trusted partner for defense forces worldwide [2] Product and Technology - Silynxcom specializes in ruggedized tactical communication headset devices and accessories, which are field-tested and combat-proven [3] - The company's In-Ear Headsets provide active sound protection, eliminate unsafe sounds, and maintain ambient environmental awareness, offering 360° situational awareness [3] - These headsets integrate seamlessly with third-party ruggedized radios used by military and law enforcement units, ensuring clear communication and hearing protection in hazardous environments [3] Market and Partnerships - Silynxcom's products are critical tools for military and defense organizations worldwide, enhancing operational performance and safety [2] - The company sells directly to military forces, police, and law enforcement units, and has developed strategic partnerships with radio equipment manufacturers [3] - Silynxcom works closely with its customers, incorporating feedback from soldiers and police officers to improve product functionality and quality [3]

Core Insights - Silynxcom Ltd. has secured a four-year framework contract to supply advanced in-ear communication systems to the national police of Finland, facilitated by a local distributor [1][2] - The total value of the contract is estimated between $1.2 million and $2 million, with an initial order already received [2] - This contract positions Silynxcom favorably within the growing Nordic defense market, particularly in Finland [3] Company Overview - Silynxcom specializes in ruggedized tactical communication headset devices, which are field-tested and combat-proven, designed for use in high-noise environments [5] - The company's in-ear communication systems provide advanced hearing protection while ensuring clear communication, making them suitable for law enforcement and defense applications [4][5] - Silynxcom collaborates closely with military and law enforcement units to enhance product functionality based on real-world feedback [5]

Core Insights - Silynxcom Ltd. has launched a new tactical communication headset designed to enhance situational awareness and safety for military personnel, particularly artillery operators and APC crews [1][2] - The headset addresses the challenge of detecting drone sounds while providing hearing protection in high-noise environments [2][3] Product Features - The new headset offers hearing protection from both continuous and sudden loud noises, ensuring user safety [3] - It features selective amplification to enhance critical environmental sounds, such as drone noise, without obstructing essential auditory cues [3] - The headset is compatible with various military intercom and radio systems, facilitating easy upgrades [3] Development and Testing - The headset was developed in collaboration with a global industry leader and has undergone rigorous field testing with advanced military forces to ensure high performance and reliability [4] - The company emphasizes its commitment to addressing the evolving needs of modern military forces through innovative solutions [5] Company Overview - Silynxcom Ltd. specializes in the development, manufacturing, and marketing of ruggedized tactical communication headset devices and accessories, which are field-tested and combat-proven [6] - The company’s products are designed to integrate seamlessly with professional-grade ruggedized radios used by military and law enforcement [6][7] - Silynxcom actively seeks feedback from users in the field to improve product functionality and quality [7]

Core Insights - Silynxcom Ltd. has launched a new tactical communication headset designed to enhance situational awareness and safety for armored personnel carrier (APC) crews and other military vehicle operators, addressing the challenge of detecting drone sounds while providing hearing protection in noisy environments [1][3]. Product Development - The new headset incorporates advanced auditory technology that allows for hearing protection from continuous and sudden sounds while selectively amplifying critical environmental sounds, such as the noise of approaching drones [3]. - This product is compatible with popular APC intercom and radio systems, facilitating easy upgrades to existing communication setups [4]. - The development of the headset involved collaboration with a leading global player in the industry and has successfully passed field tests with advanced military forces [4]. Company Overview - Silynxcom Ltd. specializes in the development, manufacturing, marketing, and sales of ruggedized tactical communication headset devices and accessories, which are field-tested and combat-proven [5]. - The company's in-ear headsets are utilized in various high-stakes environments, including combat, riot control, and training, providing users with 360° situational awareness while protecting them from hazardous sounds [5]. - Silynxcom maintains close relationships with military and law enforcement customers to enhance product functionality based on real-world feedback [5].

Core Insights - Silynxcom Ltd. has received a purchase order worth $270,000 from a significant military customer for its advanced tactical headsets, indicating strong demand for its products in the defense sector [1][3]. Company Overview - Silynxcom specializes in the development and manufacturing of ruggedized tactical communication headset devices, which are designed to meet the demanding requirements of modern military operations [2][5]. - The company's headsets are engineered to provide exceptional audio clarity and reliable communication, enhancing the safety and efficiency of military missions [2][3]. Product Features - The tactical headsets produced by Silynxcom integrate seamlessly with third-party ruggedized radios used by military personnel, allowing for clear communication while protecting users from hazardous sounds in combat situations [3][5]. - The In-Ear Headsets feature active sound protection to eliminate unsafe sounds while maintaining ambient awareness, providing users with 360° situational awareness [5]. Market Position - This recent order aligns with Silynxcom's strategy to expand its presence in the military tactical communication equipment market, showcasing the company's commitment to innovation and high-quality product delivery [4][5].

Core Insights - Silynxcom Ltd. has received its first order for a new tactical communication system configuration specifically designed for the U.S. Air Force, marking a significant milestone for the company [1] - The CEO of Silynxcom expressed that this order reflects strong confidence in the company's solutions and its understanding of the evolving needs of the market, highlighting a growing demand from military and law enforcement organizations [2] Company Overview - Silynxcom Ltd. specializes in developing, manufacturing, and selling ruggedized tactical communication headset devices and accessories that are field-tested and combat-proven [3] - The company's In-Ear Headsets are utilized in various high-stakes environments, including combat, riot control, and training, providing users with active sound protection while maintaining situational awareness [3] - Silynxcom collaborates closely with military and law enforcement clients to enhance product functionality and quality based on real-world feedback [3]

Financial Performance - Total revenue for the six-month period ended June 30, 2024, was $5,356,000, representing an increase of 73% compared to $3,096,000 for the same period in 2023[12] - Gross profit for the same period was $2,650,000, up from $1,195,000, indicating a gross margin improvement[12] - Operating profit for the six-month period was $267,000, a significant recovery from an operating loss of $2,328,000 in the prior year[12] - Net loss for the period was $696,000, compared to a net loss of $2,326,000 in the same period last year, showing a reduction in losses[12] - Revenue from Israel increased significantly to $3,613,000 in June 2024, up from $1,260,000 in June 2023, marking a 187% growth[72] - The loss for the six months ended June 30, 2024, is $696,000, a decrease from a loss of $2,326,000 for the same period in 2023[81] Assets and Liabilities - Total current assets increased to $8,682,000 as of June 30, 2024, from $5,961,000 at the end of 2023, reflecting a growth of 45%[6] - Total liabilities decreased to $2,310,000 as of June 30, 2024, down from $3,945,000 at the end of 2023, a reduction of 41%[10] - Shareholders' equity increased to $6,616,000 as of June 30, 2024, compared to $2,221,000 at the end of 2023, marking a growth of 198%[10] - Cash and cash equivalents at the end of the period were $668,000, up from $568,000 at the beginning of the year, indicating a positive cash flow[16] - The company has a marketable securities fair value of $2,991,000 as of June 30, 2024[65] IPO and Equity - The company issued common stock in the IPO, netting $4,254,000, which contributed to the increase in shareholders' equity[14] - On January 17, 2024, the company completed its IPO, raising gross proceeds of $5,000,000 from the sale of 1,250,000 ordinary shares at $4.00 per share[61] - The company incurred direct equity transaction costs of $575,000 in cash and $2,839,000 in non-cash costs related to the IPO[61] - On July 11, 2024, the company issued 36,982 ordinary shares as part of the SAFE conversion and investment agreement in connection with the IPO[82] Research and Development - Research and development expenses for the period were $259,000, down from $569,000 in the previous year, reflecting a focus on cost management[12] - Research and development expenses for the six months ended June 30, 2024, are $29,000, down from $69,000 in the same period in 2023[80] Market and Operational Conditions - The company experienced a significant increase in demand for its products from the Israel Defense Forces since October 7, 2023[39] - The ongoing geopolitical instability in Israel may adversely affect the company's operations and future sales[33] - The company has not experienced significant supply chain disruptions since the outbreak of hostilities on October 7, 2023[35] - The company’s commercial insurance does not cover losses from war and terrorism, which could materially affect its business[38] - The company’s management believes that its current resources are sufficient for the foreseeable future following the IPO[29] Other Financial Metrics - The company reported a gross profit increase driven by higher sales in the In-Ear Headset systems, which generated $3,389,000 in revenue for June 2024, compared to $2,143,000 in June 2023[72] - The company reported a current loss of $696,000 and an accumulated loss of $20,969,000[29] - The company exercised 456,000 SAFE and 165,000 warrants, impacting the balance of liabilities measured at level 3[70] - The expected volatility in Silynxcom's share price is estimated at 41%[66] - As of December 31, 2023, the estimated value of the SAFE is $409,000, while the value of the warrants is $165,000[69][66]

Core Insights - Silynxcom Ltd. reported significant growth in revenue and gross profit for the first half of 2024, indicating successful market expansion and enhanced financial stability [2][3] Financial Performance - Revenues for the six months ended June 30, 2024, were $5,356 thousand, a 73% increase from $3,096 thousand in the same period of 2023 [2] - Gross profit for the same period was $2,650 thousand, reflecting a 121% increase from $1,195 thousand in 2023 [2] - Gross margin improved to 49.47% compared to 38.59% in the equivalent period in 2023 [2] - Operating profit was $267 thousand, a turnaround from an operating loss of $2,328 thousand in 2023 [2] - Net loss was $696 thousand, which included $879 thousand in listing expenses, compared to a net loss of $2,326 thousand in 2023 [2] Liquidity and Capital Structure - Cash and cash equivalents increased to $3,659 thousand as of June 30, 2024, up from $568 thousand at the end of 2023, demonstrating strong liquidity [2] - The company raised $5 million through its IPO in January 2024, issuing 1.25 million ordinary shares [2] Strategic Developments - The company expanded its collaboration with 3M PELTOR to develop next-generation headset solutions [4] - Silynxcom secured orders totaling $4.85 million from the Israel Defense Forces and Israeli police forces since October 2023 [4] - The company launched a new system for law enforcement compatible with commonly used communication systems in March 2024 [4] Market Position and Product Development - Silynxcom has been developing ruggedized tactical communication headsets for over a decade, which are used in various high-stakes environments [6] - The company has established relationships with key players in the global defense and law enforcement sectors, leading to purchase orders in 2024 [3]

Silynxcom has received a total of approximately $1,550,000 in orders from the Israel Defense Forces since the beginning of the third quarter of 2024 Netanya, Israel, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (NYSE American: SYNX) ("Silynxcom" or the "Company"), a manufacturer and developer of ruggedized tactical communication headset devices, has received additional orders from the Israel Defense Forces ("IDF") in the amount of $740,000, adding to the $815,000 worth of orders secured since the begin ...

The order, totaling over $270,000, is a repeat order from this elite unit Netanya, Israel, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (NYSE American: SYNX) ("Silynxcom" or the "Company"), a manufacturer and developer of ruggedized tactical communication headset devices, announced that it has received a follow-on order from a high-level security agency, valued at over $270,000. This significant order indicates the growing trust and demand for Silynxcom's advanced communication solutions within the glo ...