Netanya, Israel, July 09, 2024 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (NYSE American: SYNX) ("Silynxcom" or the "Company"), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, received product orders of $500,000 from the Israel Defense Forces for its advanced military headset system family of products. Silynxcom's tactical communication solutions are designed to meet the rigorous demands of modern military operations. By delivering high-q ...

Financial Performance - Silynxcom's revenue for the year ended December 31, 2023, increased to $7.6 million, reflecting a 5% growth compared to $7.26 million in 2022[5] - The company achieved positive cash flow from operating activities amounting to $730 thousand, a significant improvement from a cash outflow of $1.7 million in 2022[5] - Silynxcom reported a net loss of $2.8 million for 2023, compared to a net income of $1.8 million in 2022, which included $1.2 million in finance income from warrant buybacks[5] - Non-IFRS net income for 2023 totaled $1.3 million, representing a growth of over 150% year over year compared to $561 thousand in 2022[5] - The company ended 2023 with cash and cash equivalents of $568 thousand, up from $69 thousand in the previous year, demonstrating strong liquidity[5] - Operating loss for 2023 was $2.8 million, a decline from an operating profit of $480 thousand in 2022, attributed to increased investments in R&D and market expansion[5] Market Expansion - Silynxcom secured orders exceeding $4.85 million from the Israel Defense Forces and Israeli police forces since October 2023[6] - The company launched a new system for law enforcement in March 2024, compatible with TETRA and P25 systems[6] - In April 2024, Silynxcom announced a strengthened collaboration with 3M PELTOR to deliver next-generation headset solutions[6] - The company entered new markets in East Asia and Asia Pacific, indicating ongoing market expansion efforts[6]

For the fiscal year ended December 31, 2023 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANTTO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Translation of registrant's name into English: Not applicable State of Israel (Jurisdiction of incorporation or organization) 19 Yad Harutzim St. Netanya, 4250519, Israel Tel: +972-9-8658-370 (Addres ...