Hello Everyone,
We have another company for youth research for Thursday's session.
It has been a little bit since we last took a look at a defense company. We love this sector and are always excited to put an undiscovered company on your plate so that you can research it.
Pull up SYNX Immediately.
The company put out some substantial news today that you can read down below. The news had major impact, sending SYNX exploding double digits and almost breaching the 4 buck level.
SYNX has a great story behind it.
Since it's inception, the company has achieved over $150M in revenue from iconic government defense institutions like the CIA, U.S. Army and Marine Corps.
It is estimated that roughly 17% of returning veterans suffer from some form of hearing loss.
Just in March, 250,000 vets reached a $6 billion settlement of a class-action lawsuit alleging popular earplugs used in the Iraq and Afghanistan wars were faulty.
The products are compatible with most radios, smartphones, and intercom systems, including encrypted channels used by tactical and law enforcement units.
Silynx headsets are used by elite US and international warfighters, all levels of law enforcement, including federal, state, and local, and international public safety and security forces. Silynx headset systems protect against impulse and steady-state noises while enabling the user to hear ambient noises, via “hear-thru” functionality, and maintain 360° situational awareness.
Working closely with end users, Silynx integrates feedback from the field into all of its solutions. Compatible with standard military and law enforcement radios and available with a broad range of unique accessories, Silynx headsets can be used in any mission setting, mounted/dismounted, maritime, airborne, or low-vis operations. Silynx solutions provide users with an unparalleled operational edge. Silynx is committed to constant innovation and improvement of products and ideas to meet the continually changing requirements of operators.
Silynxcom Receives New Order Further Expanding Presence in Military Tactical Communication Equipment Market
The tactical sound protection headset market is projected to reach $3.8 Billion by 2027
Company received accumulated orders of approximately $815,000 from the Israel Defense Forces since the beginning of July 2024
Netanya, Israel, July 24, 2024 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (NYSE American: SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices has received an additional order from the Israel Defense Forces ("IDF") for its advanced tactical communication headset devices. This latest order for $315,000 comes after a $500,000 order (both amounts approximate based on current exchange rates) from the IDF was announced by the Company on July 9, 2024. The Company also recently announced on July 9, 2024, a strong performance for the first half of 2024 on a preliminary unaudited basis, including estimated revenue for the six months ended June 30, 2024 of approximately $5.31 million - highlighting accelerated operational and business growth – and cash and cash equivalents and marketable securities of approximately $3.69 million as of June 30, 2024.
Nir Klein, Chief Executive Officer of Silynxcom, said “We are proud to report another order for our advanced tactical communication headset devices from the IDF. We are excited about the opportunity to continue scaling up our revenue growth into our addressable market that is estimated to reach $3.8 billion by 2027 according to the Global Tactical Headset Market Research Report, published by Wantstats Research and Media Pvt Ltd.”
Silynxcom's tactical communication headset devices are designed to meet the rigorous demands of modern militaries, law enforcement units and industrial and commercial plants.Silynxcom's products ensure more efficient and safer high-quality audio, clarity and robust communication.
The above preliminary financial information is based upon the Company’s estimates and is subject to completion of its financial closing procedures. Moreover, this preliminary financial information has been prepared solely on the basis of information that is currently available to, and that is the responsibility of, management. The Company’s independent registered public accounting firm has not audited nor reviewed, and does not express an opinion with respect to, this information. This preliminary financial information is not a comprehensive statement of the Company’s revenue and cash and cash equivalents for the six months ended June 30, 2024 and remains subject to, among other things, the completion of the Company’s financial closing procedures, final adjustments, and completion of its internal review for the six months ended June 30, 2024, which may materially impact the results and expectations set forth above. As a result, this preliminary unaudited financial information may differ from the actual results that will be reflected in the Company’s results of operations and financial position as of and for the six months ended June 30, 2024 when they are completed and publicly disclosed. This preliminary unaudited financial information may change. Accordingly, you should not place undue reliance upon these preliminary unaudited estimates.
READ THE FULL REPORT HERE: https://www.insiderfinancial.com/profile/synx
Sincerely,
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