Sintx Technologies (NASDAQ:SINT) reported a sharp increase in third-quarter revenue as aerospace and industrial ceramics manufacturing drove higher sales, but executives cautioned that order and shipment timing could cause results to fluctuate in coming quarters.
Revenue for the quarter ended September 30, 2026, rose 953% to approximately $2.2 million from $208,000 a year earlier. The result was twice the high end of the company’s previously communicated third-quarter guidance range of $900,000 to $1.1 million.
Chairman and CEO Eric Olson said Sintx manufactured and delivered more silicon nitride parts during the quarter than in any previous quarter in its history. Gross profit rose to approximately $1.4 million, while the net loss narrowed to $1.6 million from $3.5 million.
Manufacturing Demand and Fourth-Quarter Visibility
Industrial manufacturing remained the primary contributor to revenue, Olson said. Chief Financial Officer Kevin Trask said higher sales of aerospace technical manufacturing products drove much of the increase. Third-quarter product revenue reached $2.1 million, compared with $150,000 a year earlier, while grant and contract revenue rose to $100,000 from $58,000.
Olson said purchase orders from Fortune 500 aerospace companies helped inform the company’s earlier third-quarter forecast. He attributed the result above that forecast partly to improvements in manufacturing and operational efficiency.
Trask said Sintx expects demand for its products to remain above historical levels, but cautioned that quarterly revenue may vary with the size and timing of customer orders, production schedules and shipments. He said the company was focused on generating sustainable gross profit and converting demand into cash, rather than treating one strong quarter as a guaranteed future run rate.
The company’s previously communicated fourth-quarter guidance was based on the expected timing of deliveries against $3.2 million in purchase orders received in June. Trask said Sintx could not currently provide an expectation for when the remaining orders would be delivered relative to the fourth quarter and would offer more visibility as information becomes available.
Margins Improve, but Losses Continue
Third-quarter gross margin increased to 62% from 45% a year earlier. Trask attributed the improvement primarily to pricing adjustments, a favorable product mix and higher production volumes that improved manufacturing efficiency and the absorption of fixed costs.
Operating expenses fell 13% to $3 million. Research and development expenses declined to $548,000 from $1.3 million, though Trask said the decrease primarily reflected the reallocation of certain overhead costs to general and administrative expenses rather than a corresponding reduction in underlying research efforts. General and administrative expenses rose to $2.3 million, and sales and marketing expenses increased to $140,000 as commercialization activity expanded.
For the first nine months of 2026, revenue rose to $3 million from $728,000 in the prior-year period. The year-to-date net loss narrowed to $7.1 million from $8.1 million.
Cash and cash equivalents stood at $2 million at September 30, down from $4.1 million at the end of 2025. Sintx used $6.6 million in operating activities during the first nine months of 2026, compared with $6.2 million a year earlier. Inventory rose to $2.6 million from $1 million at year-end as the company added materials, work in process and finished goods to support manufacturing and anticipated demand.
After quarter-end, Sintx received approximately $2 million in gross proceeds from funded exercises and related exchanges of Class B warrants. Unexercised warrants covering approximately 941,000 additional shares expired, eliminating their potential dilution. Trask said the company continues to incur operating losses and use cash, and is evaluating potential equity and debt financing.
Medical Device and Materials Programs Advance
Alongside its industrial business, Sintx is expanding commercialization of its FDA-cleared SiNAPTIC Foot & Ankle Osteotomy Wedge System. Olson said the product entered clinical use in the United States earlier this year and has moved into full commercialization following a limited-use release. Distributors are targeting foot and ankle surgeons, while Sintx explores potential partnerships with organizations that already have relationships with surgeons and facilities.
Trask said Sintx began recognizing commercial revenue from the system during 2026. Olson said the company will measure the product’s success through surgeon adoption, availability, repeat procedures and meaningful revenue.
Sintx is also developing 3D-printed orthopedic implants using a silicon nitride and PEEK biocomposite. Under a manufacturing agreement, Evonik produces composite filament using Sintx’s silicon nitride material and patent, Olson said. Sintx has established a 3D-printing manufacturing facility and begun developing workflows for custom implant applications.
The company is conducting large-animal studies of silicon nitride-treated sutures and wound dressings and expects them to be completed in the next calendar quarter. Olson said the results will inform future development and potential commercial partnerships. Further testing and applicable regulatory clearances or approvals will be required before commercialization or licensing of resulting medical devices.
About Sintx Technologies (NASDAQ:SINT)
SINTX Technologies, Inc (NASDAQ: SINT) is an advanced materials company focused on the development, manufacturing and commercialization of silicon nitride-based ceramics. The company’s technology is designed to combine properties such as biocompatibility, strength, wear resistance and antimicrobial performance for use in medical and other demanding applications.
In its medical business, SINTX develops silicon nitride products for spinal, orthopedic and dental applications, including implant materials, components and coatings.
