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Solesence, Inc., a science-driven company, provides engineered materials, formulation development, and commercial manufacturing services in the United States. The company engages in the manufacture and supply of surface engineered zinc oxide and titanium dioxide ingredients. It also provides skin care formulations with mineral-based UV protection enabled by proprietary active pharmaceutical ingredients; and skin health products, such as sunscreens and daily care products. The company sells products in various markets, including medical diagnostics, architectural coatings, industrial coating applications, abrasion-resistant additives, and plastics additives applications. It serves skin health, beauty, and wellness sectors. The company was formerly known as Nanophase Technologies Corporation and changed its name to Solesence, Inc. in March 2025. Solesence, Inc. was incorporated in 1989 and is headquartered in Romeoville, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $62M | $4M | $2M | $-11M | 10.2% | 18.6% | -57.7% |
| 2024 | $52M | $6M | $4M | $-3M | 28.3% | 40.4% | - |
| 2023 | $37M | $-3M | $-4M | $-3M | -230.8% | -0.1% | - |
| 2022 | $37M | $-2M | $-3M | $-4M | -46.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 37.32 | 37.30 | 52.35 | 62.06 |
| Cost Of Revenue | 28.96 | 29.47 | 36.16 | 46 |
| Gross Profit | 8.36 | 7.83 | 16.19 | 16.06 |
| Operating Expense | 10.62 | 11.37 | 11.06 | 14.49 |
| Operating Income | -2.26 | -3.55 | 5.13 | 1.57 |
| EBITDA | -1.69 | -2.80 | 6.06 | 3.69 |
| EBIT | -2.26 | -3.55 | 5.13 | 2.79 |
| Pretax Income | -2.64 | -4.38 | 4.46 | 1.86 |
| Tax Provision | -0.02 | 0.01 | 0.23 | 0.07 |
| Net Income | -2.62 | -4.39 | 4.24 | 1.79 |
| Net Income Common Stockholders | -2.62 | -4.39 | 4.24 | 1.79 |
| Total Expenses | 39.58 | 40.84 | 47.22 | 60.49 |
| Interest Expense | 0.38 | 0.84 | 0.67 | 0.93 |
| Research And Development | 3.04 | 3.84 | 3.84 | 4.09 |
| Selling General And Administration | 7.58 | 7.53 | 7.22 | 10.40 |
| Normalized EBITDA | -1.69 | -2.80 | 6.06 | 3.69 |
| Normalized Income | -2.62 | -4.39 | 4.24 | 1.79 |
| Basic EPS | -0.05 | -0.09 | 0.07 | 0.03 |
| Diluted EPS | -0.05 | -0.09 | 0.07 | 0.02 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.01 | 0.21 | 0.05 | 0.04 |
| Net Income From Continuing Operation Net Minority Interest | -2.62 | -4.39 | 4.24 | 1.79 |
| Reconciled Depreciation | 0.57 | 0.74 | 0.93 | 0.90 |
| Reconciled Cost Of Revenue | 28.96 | 29.47 | 36.16 | 46 |
| Net Interest Income | -0.38 | -0.84 | -0.67 | -0.93 |
| Net Income From Continuing And Discontinued Operation | -2.62 | -4.39 | 4.24 | 1.79 |
| Total Operating Income As Reported | -2.26 | -3.55 | 5.13 | 1.57 |
| Diluted Average Shares | 49.12 | 49.56 | 65.03 | 72.58 |
| Basic Average Shares | 49.12 | 49.56 | 62.35 | 70.34 |
| Diluted NI Availto Com Stockholders | -2.62 | -4.39 | 4.24 | 1.79 |
| Net Income Including Noncontrolling Interests | -2.62 | -4.39 | 4.24 | 1.79 |
| Net Income Continuous Operations | -2.62 | -4.39 | 4.24 | 1.79 |
| Other Income Expense | 0 | 0 | 0 | 1.22 |
| Other Non Operating Income Expenses | 0 | 0 | 0 | 1.22 |
| Net Non Operating Interest Income Expense | -0.38 | -0.84 | -0.67 | -0.93 |
| Interest Expense Non Operating | 0.38 | 0.84 | 0.67 | 0.93 |
| Operating Revenue | 36.73 | 36.64 | 51.89 | 61.79 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Solesence, Inc.this co. | SLSN | $92M | 65.00↑ premium | 5.20 | 10.2% | 46.52 |
| SkinHealth Systems Inc. | SKIN | $104M | - | 1.68 | -15.6% | 55.16 |
| HF Foods Group Inc. | HFFG | $103M | - | 0.51 | -19.1% | 9.29 |
| Waldencast plc | WALD | $98M | - | 0.20 | -45.9% | -42.73 |
| Zevia PBC | ZVIA | $90M | - |
| 1.65 |
| -27.9% |
| -5.05 |
| FitLife Brands, Inc. | FTLF | $87M | 14.70 | 1.99 | 14.5% | 9.60 |
| Ispire Technology Inc. | ISPR | $76M | - | -9.85 | -6489.3% | -1.88 |
| LifeVantage Corporation | LFVN | $65M | 8.42 | 1.96 | 28.3% | 5.53 |
| Skillsoft Corp. | SKIL | $60M | - | -1.97 | 462.6% | 7.01 |
| Peer Median | - | 11.56 | 1.08 | -17.3% | 6.27 | |