Quarterly Report Filed on Form 10-Q
Company to Host Conference Call at 5:00 p.m. ET Today
ROMEOVILLE, Ill., Aug. 19, 2026 (GLOBE NEWSWIRE) -- Solésence, Inc. (Nasdaq: SLSN), a leader in scientifically driven health care solutions across beauty and life science categories, today reported its financial results for the second quarter ended June 30, 2026.
"In the second quarter, our business focused on operational execution and financial discipline as we continue implementing our Transform and Transcend strategy," said Kevin Cureton, President and Chief Executive Officer. "By leveraging our intellectual property to enter high-growth markets, and expanding our co-marketing initiatives, we are solidifying our position as a trusted partner to premier brands. Combined with our targeted operational efficiency initiatives, these efforts ensure Solésence remains lean, agile, and structured for long-term value creation."
Second Quarter 2026 Financial Highlights
-- Second-quarter revenue was $15.3 million, compared to $20.4 million in
the second quarter of 2025. Results in the prior-year
period benefited from a one-time revenue boost driven by a major
Solésence product launch and initial inventory pipeline fill.
-- Gross profit in the second quarter was $4.7 million, compared to $6.4
million for the same period in 2025.
-- Gross margin in the second quarter was 31%, compared to 32% for the same
period in 2025.
-- Net loss in the second quarter was $158,000, compared to net income of
$3.2 million for the same period in 2025.
Accounting Update
As previously disclosed, the Company filed a Form NT 10-Q regarding its quarterly report for the period ended June 30, 2026. The Company has completed its evaluation regarding historical inventory costing allocation methodologies. The Company's Quarterly Report on Form 10-Q for the second quarter ended June 30, 2026, has been filed with the U.S. Securities and Exchange Commission (SEC) and is accessible on the SEC's website at www.sec.gov as well as in the Investor Relations section of the Company's website at ir.solesence.com.
Second Quarter 2026 Conference Call Details
Date/Time: Wednesday, August 19, 2026 -- 4:00 p.m. CT, 5:00 p.m. ET
Speakers: Kevin Cureton, President & Chief Executive Officer and Laura Riffner, Chief Financial Officer
Webcast Link: https://edge.media-server.com/mmc/p/ecgoveo8/
Dial-In Link: https://register-conf.media-server.com/register/BIb4a184933a544641a8f41396efd90a13
To receive the dial-in number, as well as your personalized PIN, you must register at the above link. Once registered, you will also have the option to have the system dial-out to you once the conference call begins. If you forget your PIN prior to the conference call, you can simply re-register.
The call may also be accessed through the Company's investor relations website, at https://ir.solesence.com/. Please join the conference call at least five minutes before the start time.
About Solésence, Inc.
Solésence, Inc. (Nasdaq: SLSN) is a leader in scientifically-driven health care solutions across beauty and life science categories. With a mission to deliver joy through innovation, inclusivity and the science of beautiful skin, we have redefined mineral-based sun protection by maximizing transparency, effectiveness, aesthetics, and wearability -- empowering individuals to embrace beauty on their own terms. Combining best-in-class skin health solutions with the celebration of self-care, we allow brands to deliver unique product claims and attributes by seamlessly integrating protection, prevention, and treatment technologies into daily use products. Learn more at solesence.com.
Forward-Looking Statements
This press release contains words such as "expects," "shall," "will," "believes," and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company's current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company's results of operations, performance, and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company's dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company's engineered materials, ingredients, and fully formulated products; the Company's manufacturing capacity and product mix flexibility in light of customer demand; the Company's limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company's dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company's Form 10-K filed March 31, 2026. In addition, the Company's forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties, or other contingencies.
Media Contact:
media@solesence.com
Investor Relations Contact:
investors@solesence.com
SOLESENCE, INC
CONSOLIDATED BALANCE SHEETS
(Unaudited Consolidated Condensed)
(in thousands except share and per share data)
June 30, December 31,
2026 2025
ASSETS (Unaudited) (Unaudited)
----------------------------- -------------------------
Current assets:
Cash $ 1,046 $ 1,288
Trade accounts
receivable 10,240 7,642
Allowance for
credit losses (895) (806)
Trade accounts
receivable,
net 9,345 6,836
Inventories, net 12,957 14,963
Prepaid expenses
and other
current assets 1,922 2,141
----- ------------------ -----------------
Total current
assets 25,270 25,228
Equipment and
leasehold
improvements,
net 14,794 14,329
Operating
leases, right
of use 6,337 6,913
Other assets,
net 36 37
Total assets $ 46,437 $ 46,507
===== ================== =================
LIABILITIES AND
STOCKHOLDERS'
EQUITY
Current
liabilities:
Line of credit,
accounts
receivable,
related party 3,787 4,767
Current portion
of line of
credit,
inventory,
related party 9,500 -
Current portion
of debt,
related
parties 1,000 -
Current portion
of operating
lease
obligations 1,343 1,255
Accounts payable 4,968 4,098
Deferred revenue 1,937 930
Accrued expenses 3,478 2,879
Total current
liabilities 26,013 13,929
----- ------------------ -----------------
Long-term
portion of
operating lease
obligations 7,070 7,798
Long-term
portion of line
of credit,
inventory,
related party - 9,500
Long-term
portion of
debt, related
parties - 1,000
Asset retirement
obligations 200 194
Total long-term
liabilities 7,270 18,492
----- ------------------ -----------------
Stockholders'
equity:
Preferred stock,
$.01 par value,
24,088 shares
authorized and
no shares
issued and
outstanding - -
Common stock,
$.01 par value,
95,000,000
shares
authorized;
70,632,445 and
70,614,045
shares issued
and
outstanding on
March 31,
2026
and December
31, 2025,
respectively 706 706
Additional
paid-in
capital 115,754 115,566
Accumulated
deficit (103,306) (102,186)
Total
stockholders'
equity 13,154 14,086
----- ------------------ -----------------
Total
liabilities and
shareholders'
equity $ 46,437 $ 46,507
===== ================== =================
SOLESENCE, INC
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited Consolidated Condensed)
(in thousands except share and per share data)
Three months ended Six months ended
June 30, June 30,
2026 2025 2026 2025
Revenue:
Product revenue $ 15,286 $ 20,261 $ 28,205 $ 34,836
Other revenue 46 98 85 148
---------- ---------- ---------- ----------
Net revenue 15,332 20,359 28,290 34,984
Cost of revenue 10,584 13,916 20,400 24,895
---------- ---------- ---------- ----------
Gross profit 4,748 6,443 7,890 10,089
Operating
expense:
Research and
development
expense 947 955 1,990 1,973
Selling,
general and
administrative
expense 3,680 3,012 6,479 5,120
---------- ---------- ---------- ----------
Net (loss) income
from operations 121 2,476 (579) 2,996
Interest income
Interest
expense 279 87 543 263
Other
nonoperating
income - 1,234 2 1,234
---------- ---------- ---------- ----------
Net (loss) income
before provision
for income
taxes (158) 3,623 (1,120) 3,967
Provision for
income taxes - 390 - 390
Net (loss) income $ (158) $ 3,233 $ (1,120) $ 3,577
========== ========== ========== ==========
Net (loss) income
per share-basic $ - $ 0.04 $ (0.02) $ 0.05
========== ========== ========== ==========
Weighted average
number of common
shares
outstanding -
basic 70,637,199 70,200,039 70,631,380 70,151,928
========== ========== ========== ==========
Net (loss) income
per
share-diluted $ - $ 0.04 $ (0.02) $ 0.05
========== ========== ========== ==========
Weighted average
number of common
shares
outstanding -
diluted 70,637,199 72,580,679 70,631,380 72,497,929
========== ========== ========== ==========
SOLESENCE, INC
CONSOLIDATED STATEMENTS OF OPERATIONS - EXPANDED SCHEDULE
(Unaudited Consolidated Condensed)
(in thousands except share and per share data)
Three months
ended Six months ended
June 30, June 30,
2026 2025 2026 2025
------ ------- ------ -------
Revenue:
Product revenue $15,286 $20,261 $28,205 $34,836
Other revenue 46 98 85 148
------ ------ ------ ------
Net revenue 15,332 20,359 28,290 34,984
Cost of revenue detail:
Depreciation 308 216 610 432
Non-Cash equity
compensation 22 28 42 54
Other costs of revenue 10,254 13,672 19,748 24,409
------ ------ ------ ------
Cost of revenue 10,584 13,916 20,400 24,895
------ ------ ------ ------
Gross profit 4,748 6,443 7,890 10,089
Operating expense:
Research and development
expense detail:
Depreciation 5 4 10 7
Non-Cash equity
compensation 17 28 35 55
Other research and
development expense 925 923 1,945 1,911
------ ------ ------ ------
Research and development
expense 947 955 1,990 1,973
Selling, general and
administrative expense
detail:
Depreciation and
amortization 10 6 16 11
Non-Cash equity
compensation 40 64 86 138
Other selling, general and
administrative expense 3,630 2,942 6,377 4,971
------ ------ ------ ------
Selling, general and
administrative expense 3,680 3,012 6,479 5,120
------ ------ ------ ------
Net (loss) income from
operations 121 2,476 (579) 2,996
Interest income
Interest expense 279 87 543 263
Other nonoperating income - 1,234 2 1,234
------ ------ ------ ------
Net (loss) income before
provision for income taxes (158) 3,623 (1,120) 3,967
Provision for income taxes - 390 - 390
Net (loss) income $ (158) $ 3,233 $(1,120) $ 3,577
====== ====== ====== ======
Non-GAAP Disclosure (see
note regarding Non-GAAP
disclosures):
---------------------------- -------- ------- -------- -------
Addback Interest, net 279 87 543 263
Addback
Depreciation/Amortization 323 226 636 450
Addback Non-Cash Equity
Compensation 79 120 163 247
Subtract Non-Cash Other
Income - - - -
------ ------ ------ ------
Adjusted EBITDA $ 523 $ 3,666 $ 222 $ 4,537
====== ====== ====== ======