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 | |||||