Sintx Technologies(US:SINT)2021-11-12 11:07Revenue Performance - For the three months ended September 30, 2021, product revenue was $0.24 million, an increase of 262% compared to $0.07 million in the same period of 2020[100]. - For the nine months ended September 30, 2021, total product revenue was $0.44 million, a decrease of 8% from $0.48 million in the same period of 2020[101]. - Other income for the three months ended September 30, 2021, increased by $0.5 million, or 4920%, compared to the same period in 2020[111]. Profitability and Loss - Gross profit for the three months ended September 30, 2021, was $0.05 million, representing a gross profit margin of 21%, compared to 20% in the same period of 2020[102]. - The company incurred a net loss of $7.2 million for the nine months ended September 30, 2021, compared to a net loss of $5.3 million for the same period in 2020[115]. - The company had an accumulated deficit of $248.3 million as of September 30, 2021[115]. Expenses - Research and development expenses for the three months ended September 30, 2021, increased by $0.2 million, or 12%, compared to the same period in 2020[105]. - General and administrative expenses for the three months ended September 30, 2021, increased by $0.1 million, or 13%, compared to the same period in 2020[107]. - Sales and marketing expenses for the three months ended September 30, 2021, increased by $0.2 million, or 86%, compared to the same period in 2020[109]. Cash Flow and Financing - Net cash used in operating activities was $7.7 million for the nine months ended September 30, 2021, an increase of $0.6 million compared to the same period in 2020[123]. - Net cash provided by financing activities decreased by $30.2 million to $0.7 million for the nine months ended September 30, 2021, primarily due to reduced proceeds from common stock offerings[125]. - The Company raised $9.4 million from a rights offering on February 6, 2020, and approximately $20.9 million from four registered direct offerings between June and August 2020[117]. - The Company sold 527,896 shares in 2019, raising approximately $1.7 million, and 354,381 shares in 2020, raising approximately $0.8 million[118]. - The Company has a $0.5 million PPP loan with a five-year term, maturing on March 15, 2026, at an interest rate of 1.0% per annum[127]. - Cash flows from investing activities were negative $1.1 million for the nine months ended September 30, 2021, compared to positive cash flows of $1.4 million in the same period in 2020[124]. Future Outlook and Operations - The company expects to incur additional research and development costs as it continues to develop new products, including antipathogenic products and armored plates from ceramic[96]. - The Company is focusing on expanding the use of silicon nitride in personal protection products, which may have anti-viral properties[116]. - The Company has concluded that its existing capital resources will be sufficient to fund operations for at least the next 12 months[120]. - The Company temporarily restricted access to its facility due to COVID-19, implementing protective measures to ensure employee safety[121]. - The Company has no off-balance sheet arrangements as defined in Regulation S-K[130].