Sintx Technologies (SINT) AI Stock Analysis

• Market Cap: $9.59M
• Dividend Yield: N/A
• Average Volume (3M): 148.79K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.26
• Revenue Growth: -60.89%
• EPS Growth: 94.49%
• Country: US
• Employees: 20
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): N/A
• Shares Outstanding: 3,851,956
• 10 Day Avg. Volume: 107,243
• 30 Day Avg. Volume: 148,787
• PEG Ratio: 0.01
• Price to Book (P/B): 3.66
• Price to Sales (P/S): 10.52
• P/FCF Ratio: -1.22
• Enterprise Value/Market Cap: 0.62
• Enterprise Value/Revenue: 4.90
• Enterprise Value/Gross Profit: 9.79
• Enterprise Value/Ebitda: -0.66
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $2.50 ▼(-33.16% Downside)
• Action: Upgraded Date: 03/21/26
• Date: Action: Upgraded 03/21/26

The score is driven primarily by very weak financial performance (tiny and contracting revenue, large ongoing losses, and sustained negative free cash flow), which raises financing risk. Technicals are also unfavorable with a broad downtrend, though oversold readings slightly temper the downside. Valuation offers limited support due to negative earnings and no dividend yield provided.

Positive Factors

FDA-cleared product & first clinical case

FDA clearance plus a first-in-human procedure provides durable clinical and regulatory validation of Sintx's silicon nitride implant technology. This milestone materially de-risks entry into the large foot & ankle orthopedic segment and supports longer-term commercialization and adoption opportunities.

Experienced commercial leadership hire

Hiring a seasoned medical-device commercial executive with global experience should materially improve go-to-market execution and partner development. Strong commercial leadership can accelerate adoption, licensing deals, and international rollout, delivering lasting improvements to revenue generation capability.

Proprietary silicon nitride platform

A proprietary biomaterial with distinct mechanical and surface properties creates a structural competitive advantage. Multi-application potential across medical and industrial markets supports diversification, licensing revenue, and product pipeline expansion that remain relevant over a multi-quarter horizon.

Negative Factors

Tiny, declining revenue and large losses

Revenue levels are immaterial relative to operating losses, indicating the company has not achieved scalable commercial traction. Persistent large losses versus tiny revenue make operational self-sufficiency unlikely in the near term and raise structural execution and financing demands.

Persistent negative operating and free cash flow

Sustained cash burn at multi-million dollar annual rates creates ongoing financing risk and constrains the company’s ability to fund commercialization or R&D internally. Over time this elevates dilution and refinancing risk and limits strategic optionality absent clear near-term revenue inflection.

Weak balance sheet and rising leverage

Elevated leverage and a compressed equity base reduce financial flexibility to absorb setbacks or fund growth. A thin balance-sheet cushion increases refinancing and covenant risk, making the company more dependent on external capital during the critical commercialization phase.

Sintx Technologies Business Overview & Revenue Model

Company Description

Sintx Technologies, Inc., an advanced materials company, engages in the research, development, and commercialization of medical devices manufactured with silicon nitride for biomedical, industrial, and antipathogenic applications primarily in the United States. The company provides solid and porous silicon nitride; silicon nitrite powder; and silicon nitride coating products, as well as silicon nitride composite materials and polyetherketoneketone. The company was formerly known as Amedica Corporation. Sintx Technologies, Inc. was incorporated in 1996 and is headquartered in Salt Lake City, Utah.

How the Company Makes Money

Sintx Technologies generates revenue primarily through commercial and business-to-business arrangements related to its silicon nitride technology. Key revenue streams include: (1) product and technology-related sales connected to silicon nitride ceramic materials and components (for example, supplying or commercializing silicon nitride-based products for medical or industrial applications); (2) licensing and royalty income when third parties use Sintx’s intellectual property or silicon nitride technology under license agreements; and (3) contract-based revenue such as research, development, and other services performed for partners or customers where applicable. Significant earnings drivers typically depend on the company’s ability to secure and maintain partnerships with medical-device and advanced materials companies, expand adoption of silicon nitride components in end products, and monetize its intellectual property portfolio through licenses or similar agreements. null

Sintx Technologies Financial Statement Overview

Summary

Financials are very weak: revenue is very small and declining (~$1.0M in 2025, down ~16% YoY), losses are large versus revenue (EBIT about -$10.7M; net loss about -$17.1M), and cash burn remains deep (operating cash flow about -$8.6M in both 2024 and 2025; free cash flow about -$8.8M in 2025). Balance-sheet cushion is limited as equity has shrunk and leverage worsened versus prior years.

Income Statement

Revenue remains very small and volatile, falling to about $1.0M in 2025 (down ~16% year over year) after a sharp decline in 2024 versus 2023. While gross profit is positive (e.g., ~$0.46M in 2025), operating losses are extremely large relative to revenue (EBIT roughly -$10.7M in 2025), and net losses remain deep (about -$17.1M in 2025), indicating the business has not yet shown a clear path toward profitability despite some year-to-year variation in losses.

Balance Sheet

Leverage is meaningful for the company’s size, with debt rising relative to equity as equity has compressed (debt-to-equity moved from ~0.54 in 2023 to ~1.03 in 2024). Total debt declined in 2025 (to ~$3.2M from ~$4.0M in 2024), but equity also fell (to ~$2.9M), leaving limited balance-sheet cushion. Persistent losses are translating into very weak returns on equity (strongly negative in each year, including 2025), which continues to pressure financial flexibility.

Cash Flow

Cash generation is a key weakness: operating cash flow has been consistently negative (roughly -$8.6M in 2024 and -$8.6M in 2025), and free cash flow is also deeply negative (about -$9.3M in 2024 and -$8.8M in 2025). Free cash flow burn improved modestly in 2025 versus 2024, but the company still appears dependent on external funding or balance-sheet resources to sustain operations given the ongoing cash outflows.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.22M	1.02M	1.25M	2.63M	601.00K	606.00K
Gross Profit	610.00K	461.00K	435.00K	1.84M	336.00K	157.00K
EBITDA	-9.07M	-10.72M	-9.61M	-6.60M	-11.06M	-8.63M
Net Income	-16.56M	-17.08M	-11.02M	-8.26M	-12.04M	-9.31M
Balance Sheet
Total Assets	11.36M	9.51M	9.41M	15.37M	15.77M	21.84M
Cash, Cash Equivalents and Short-Term Investments	6.25M	4.14M	3.60M	3.34M	6.25M	14.27M
Total Debt	3.39M	3.24M	4.03M	4.76M	3.63M	2.91M
Total Liabilities	7.30M	6.58M	5.52M	6.59M	10.07M	4.64M
Stockholders Equity	4.07M	2.93M	3.89M	8.77M	5.70M	17.20M
Cash Flow
Free Cash Flow	-7.64M	-8.76M	-9.33M	-14.64M	-11.67M	-13.87M
Operating Cash Flow	-7.35M	-8.57M	-8.64M	-14.12M	-10.26M	-10.13M
Investing Cash Flow	965.00K	913.00K	-194.00K	-501.00K	-1.10M	-1.66M
Financing Cash Flow	7.82M	8.20M	9.09M	11.71M	3.34M	705.00K

Sintx Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.74
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SINT, the sentiment is Negative. The current price of 3.74 is above the 20-day moving average (MA) of 2.80, above the 50-day MA of 3.10, and above the 200-day MA of 3.44, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 28.78 is Positive, neither overbought nor oversold. The STOCH value of 21.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SINT.

Sintx Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TNON	49 Neutral	$8.91M	-0.56	-197.65%	―	-2.47%	91.23%
SSKN	46 Neutral	$1.59M	-14.23	-476.74%	―	-5.19%	-0.81%
HIND	44 Neutral	$16.00M	―	-328.87%	―	-48.74%	89.18%
CODX	44 Neutral	$5.43M	-0.55	-70.27%	―	-87.84%	29.16%
SINT	42 Neutral	$9.59M	-0.30	-204.04%	―	-60.89%	94.49%
HSDT	41 Neutral	$84.25M	-0.03	1028.60%	―	87.45%	72.30%

Sintx Technologies Corporate Events

Sintx Technologies Appoints Ryan Elmore as New President

Effective March 16, 2026, Eric Olson will step down from his role as President of SINTX Technologies, Inc. while retaining his positions as Chairman of the Board and Chief Executive Officer, consolidating his focus on overall corporate strategy and governance. On the same date, Ryan Elmore, a veteran executive with more than 20 years of leadership experience in medical devices and life sciences and a track record in global commercial operations at Invibio, will assume the role of President under a new executive employment agreement that includes a $375,000 base salary, guaranteed first-year bonus, $100,000 sign-on payment, equity awards, and robust severance protections, signaling SINTX’s intent to strengthen its commercial execution and international expansion capabilities.

The most recent analyst rating on (SINT) stock is a Sell with a $3.00 price target. To see the full list of analyst forecasts on Sintx Technologies stock, see the SINT Stock Forecast page.