Silynxcom Estimates Revenue Growth of More Than 100% for the First Quarter of 2024



Netanya, Israel, May 13, 2024 (GLOBE NEWSWIRE) — Silynxcom Ltd. (NYSE:SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, today provided preliminary unaudited financial results as of and for the three months ended March 31, 2024.

On a preliminary unaudited basis, Silynxcom is reporting a strong performance for the first quarter of 2024, highlighting accelerated operational and business growth including:

preliminary unaudited revenue for the three months ended March 31, 2024, that is estimated at $3.525 million, representing an estimated increase of more than 100% compared to the same period in 2023; and
preliminary unaudited cash and cash equivalents as of March 31, 2024, that amounted to $4.353 million.

“We are proud to report remarkable preliminary results, marked by significant revenue growth. This success has been fueled by our expansion in our marketing efforts, our customer base and our new innovative products. Recent geopolitical events strengthen demand for effective and safe solutions for tactical communication, increasing global awareness of our advanced capabilities,” said Nir Klein, Silynxcom’s Chief Executive Officer.

The above figures represent preliminary unaudited estimates and final quarterly reporting results may vary. The preliminary unaudited results presented reflect the Company’s estimates based solely upon information available and the Company’s final results may differ from these preliminary estimates due to the completion of the Company’s financial closing …

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