Company: SINT
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021930
Chunk: 24

Company: Sintx Technologies, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 24
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components for aerospace and medical device markets, toll processing services, and government contracts and grants. We generally recognize
revenue from sales where control transfers at a point in time as the title and risk of loss passes to the customer, which is at the time
the product is shipped. In general, our customer does not have rights of return or exchange.

We
believe our product revenue will increase as we complete development and obtain regulatory clearance for our product candidates and secure
opportunities to manufacture third party products with silicon nitride.

We
also derive grant and contract revenue from awards provided by governmental agencies.

Cost
of revenue

The
expenses that are included in cost of revenue include all in-house manufacturing costs for the products we manufacture.

Gross
profit

Our
gross profit measures our product revenue relative to our cost of revenue.

Research
and development expenses

Our
research and development costs are expensed as incurred. Research and development costs consist of engineering, product development,
clinical trials, test-part manufacturing, testing, developing and validating the manufacturing process, manufacturing, facility and regulatory-related
costs. Research and development expenses also include employee compensation, employee and non-employee stock-based compensation, supplies
and materials, consultant services, and travel and facilities expenses related to research and development activities.

We
expect to incur additional research and development costs as we continue to develop new medical devices, related product candidates for
antipathogenic applications, and other products which may increase our total research and development expenses.

General
and administrative expenses

General
and administrative expenses consist primarily of salaries, benefits and other related costs, including stock-based compensation for
certain members of our executive team and board of directors, and other personnel employed in finance, legal, compliance,
administrative, information technology, customer service, executive and human resource departments. General and administrative
expenses also include other expenses not part of the other cost categories mentioned above, including facility expenses and
professional fees for accounting and legal services.

18

RESULTS
OF OPERATIONS

The
following is a tabular presentation of our unaudited condensed consolidated operating results for the three and nine months ended September
30, 2025 and 2024 (in thousands):

    Three Months Ended September 30,  
    $  
    %  
    Nine Months Ended September 30,  
    $  
    % 

    2025  
    2024  
    Change  
    Change  
    2025