Silynxcom Announces Record Annual Revenue of Approximately $9.1 million in 2024

Core Insights - Silynxcom Ltd. reported a record revenue of $9.1 million for the year ended December 31, 2024, reflecting an 18% increase from the previous year, driven by ongoing expansion and product adoption [6] - The company has introduced innovative products, including an armored personnel carrier headset that enhances battlefield awareness by detecting drone noise while maintaining hearing protection [6] - Silynxcom has received$ 10 million in orders from the Israel Defense Forces since October 7, 2023, indicating strong demand for its products [6] Financial Highlights - Revenues for 2024 reached $9.1 million, up approximately 18% from the previous year [6] - Gross profit for the year was approximately$ 3.8 million, a 17% increase compared to $3.2 million in the previous year [6] - Cash and cash equivalents as of December 31, 2024, totaled$ 3.2 million [6] Corporate Developments - The company closed an underwritten public offering on April 2, 2025, generating gross proceeds of approximately $2.9 million [6] - Silynxcom expanded its sales operations in the Asia Pacific region, enhancing its market presence [6] - The company successfully completed field trials for its innovative in-ear communication solution aimed at boosting situational awareness and safety for military personnel [6]