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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% | -196.5% |
| 2023 | $37M | $-3M | $-4M | $-3M | -230.8% | -0.1% | 67.4% |
| 2022 | $37M | $-2M | $-3M | $-4M | -46.4% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 37.32 | 37.30 | 52.35 | 62.06 |
| Operating Revenue | - | 36.73 | 36.64 | 51.89 | 61.79 |
| Cost Of Revenue | - | 28.96 | 29.47 | 36.16 | 46 |
| Gross Profit | - | 8.36 | 7.82 | 16.19 | 16.06 |
| Operating Expense | - | 10.62 | 11.37 | 11.06 | 14.49 |
| Research And Development | - | 3.04 | 3.84 | 3.84 | 4.09 |
| Selling General And Administration | - | 7.58 | 7.53 | 7.22 | 10.40 |
| Total Expenses | - | 39.58 | 40.84 | 47.22 | 60.49 |
| Operating Income | - | -2.26 | -3.55 | 5.13 | 1.57 |
| Total Operating Income As Reported | - | -2.26 | -3.55 | 5.13 | 1.57 |
| EBITDA | - | -1.69 | -2.80 | 6.06 | 3.69 |
| Normalized EBITDA | - | -1.69 | -2.80 | 6.06 | 3.69 |
| EBIT | - | -2.26 | -3.55 | 5.13 | 2.79 |
| Interest Expense | - | 0.38 | 0.84 | 0.67 | 0.93 |
| Net Interest Income | - | -0.38 | -0.84 | -0.67 | -0.93 |
| Other Non Operating Income Expenses | 0.95 | - | - | - | 1.22 |
| Other Income Expense | 0.95 | - | - | - | 1.22 |
| Interest Expense Non Operating | - | 0.38 | 0.84 | 0.67 | 0.93 |
| Net Non Operating Interest Income Expense | - | -0.38 | -0.84 | -0.67 | -0.93 |
| Pretax Income | - | -2.64 | -4.38 | 4.46 | 1.86 |
| Tax Provision | - | -0.02 | 0.01 | 0.23 | 0.07 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -2.62 | -4.39 | 4.24 | 1.79 |
| Net Income From Continuing And Discontinued Operation | - | -2.62 | -4.39 | 4.24 | 1.79 |
| Net Income From Continuing Operation Net Minority Interest | - | -2.62 | -4.39 | 4.24 | 1.79 |
| Net Income | - | -2.62 | -4.39 | 4.24 | 1.79 |
| Net Income Including Noncontrolling Interests | - | -2.62 | -4.39 | 4.24 | 1.79 |
| Normalized Income | - | -2.62 | -4.39 | 4.24 | 1.79 |
| Diluted NI Availto Com Stockholders | - | -2.62 | -4.39 | 4.24 | 1.79 |
| Basic Average Shares | - | 49.12 | 49.56 | 62.35 | 70.34 |
| Diluted Average Shares | - | 49.12 | 49.56 | 65.03 | 72.58 |
| Reconciled Depreciation | - | 0.57 | 0.74 | 0.93 | 0.90 |
| Reconciled Cost Of Revenue | - | 28.96 | 29.47 | 36.16 | 46 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Solesence, Inc.this co. | SLSN | $95M | 53.07 | 5.39 | 10.2% | 31.98 |
| LifeVantage Corporation | LFVN | $117M | 11.98 | 3.39 | 28.3% | 7.09 |
| Zevia PBC | ZVIA | $100M | -10.13 | 1.97 | -19.4% | -8.66 |
| HF Foods Group Inc. | HFFG | $98M | -2.53 | 0.49 | -19.2% | -57.51 |
| Ispire Technology Inc. | ISPR | $95M | - | 158.80 |
| - |
| - |
| - |
| - |
| -6540.0% |
| - |
| FitLife Brands, Inc. | FTLF | $93M | 14.76 | 2.14 | 14.5% | 13.03 |
| SkinHealth Systems Inc. | SKIN | $79M | - | 1.30 | -15.6% | 5.81 |
| The Hain Celestial Group, Inc. | HAIN | $69M | -0.13 | 0.15 | -111.8% | -1.90 |
| Skillsoft Corp. | SKIL | $64M | -0.46 | -2.12 | 462.6% | 16.11 |
| Peer Median | - | -0.29 | 1.63 | -17.4% | 5.81 | |