Solesence Financials
This page shows Solesence (SLSN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Solesence has an operating margin of 9.8%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is up from -9.5% the prior year.
Solesence's revenue surged 40.4% year-over-year to $52.3M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Solesence has elevated debt relative to equity (D/E of 2.35), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 24/100, reflecting increased financial risk.
Solesence's current ratio of 1.14 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.
While Solesence generated $2.0M in operating cash flow, capex of $4.6M consumed most of it, leaving -$2.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Solesence earns a strong 28.3% return on equity (ROE), meaning it generates $28 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.
Solesence scores 0.08, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($83.2M) relative to total liabilities ($35.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Solesence passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Solesence generates $0.47 in operating cash flow ($2.0M OCF vs $4.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Solesence earns $7.7 in operating income for every $1 of interest expense ($5.1M vs $670K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Solesence generated $52.3M in revenue in fiscal year 2024. This represents an increase of 40.4% from the prior year.
Solesence's EBITDA was $6.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 316.1% from the prior year.
Solesence generated -$2.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 15.4% from the prior year.
Solesence reported $4.2M in net income in fiscal year 2024. This represents an increase of 196.5% from the prior year.
Solesence earned $0.07 per diluted share (EPS) in fiscal year 2024. This represents an increase of 177.8% from the prior year.
Solesence held $1.4M in cash against $0 in long-term debt as of fiscal year 2024.
Solesence had 70M shares outstanding in fiscal year 2024. This represents an increase of 41.3% from the prior year.
Solesence's gross margin was 30.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 9.9 percentage points from the prior year.
Solesence's operating margin was 9.8% in fiscal year 2024, reflecting core business profitability. This is up 19.3 percentage points from the prior year.
Solesence's net profit margin was 8.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 19.9 percentage points from the prior year.
Solesence's ROE was 28.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
Solesence invested $3.8M in research and development in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Solesence invested $4.6M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 333.7% from the prior year.
SLSN Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.6M-28.3% | $20.4M+39.2% | $14.6M+16.4% | $12.6M-25.5% | $16.9M+29.3% | $13.0M+32.2% | $9.9M+23.2% | $8.0M |
| Cost of Revenue | $11.2M-22.5% | $14.5M+28.8% | $11.2M+14.7% | $9.8M-8.9% | $10.8M+15.7% | $9.3M+48.0% | $6.3M-16.6% | $7.5M |
| Gross Profit | $3.4M-42.7% | $5.9M+73.8% | $3.4M+22.3% | $2.8M-54.7% | $6.1M+63.2% | $3.7M+4.5% | $3.6M+660.1% | $471K |
| R&D Expenses | $1.1M+13.3% | $955K-6.2% | $1.0M-6.9% | $1.1M+12.7% | $970K+12.3% | $864K-5.1% | $910K+15.8% | $786K |
| SG&A Expenses | $3.1M+1.9% | $3.0M+42.9% | $2.1M+11.1% | $1.9M-1.9% | $1.9M+5.7% | $1.8M+17.3% | $1.6M-1.6% | $1.6M |
| Operating Income | -$781K-140.9% | $1.9M+646.1% | $256K+214.3% | -$224K-107.0% | $3.2M+205.4% | $1.0M-5.8% | $1.1M+158.5% | -$1.9M |
| Interest Expense | $1K0.0% | $1K-99.4% | $176K+63.0% | $108K-29.4% | $153K-19.9% | $191K-12.4% | $218K-2.2% | $223K |
| Income Tax | $0-100.0% | $390K | $0 | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$1.1M-142.0% | $2.7M+3233.8% | $80K+114.3% | -$559K-118.4% | $3.0M+255.7% | $856K-4.1% | $893K+142.0% | -$2.1M |
| EPS (Diluted) | $-0.02-150.0% | $0.04 | $0.00 | N/A | $0.04+300.0% | $0.01-50.0% | $0.02 | N/A |
SLSN Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $54.0M-10.0% | $60.0M+5.2% | $57.0M+14.0% | $50.0M+4.1% | $48.0M+17.6% | $40.8M+6.1% | $38.5M+17.1% | $32.9M |
| Current Assets | $32.8M-15.4% | $38.8M+8.0% | $35.9M+22.3% | $29.3M-1.4% | $29.8M+22.7% | $24.3M+9.9% | $22.1M+35.4% | $16.3M |
| Cash & Equivalents | $429K-89.6% | $4.1M+126.1% | $1.8M+29.0% | $1.4M-51.8% | $2.9M+24.0% | $2.4M+16.8% | $2.0M+17.2% | $1.7M |
| Inventory | $18.9M-4.9% | $19.8M-9.5% | $21.9M+8.1% | $20.3M+34.7% | $15.0M+8.4% | $13.9M+4.5% | $13.3M+32.4% | $10.0M |
| Accounts Receivable | $9.7M-12.1% | $11.0M+21.6% | $9.1M+86.6% | $4.9M-44.2% | $8.7M+47.2% | $5.9M+13.5% | $5.2M+50.8% | $3.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $36.8M-12.0% | $41.8M-0.2% | $41.9M+19.4% | $35.1M+6.6% | $32.9M+13.7% | $28.9M-13.8% | $33.6M+8.3% | $31.0M |
| Current Liabilities | $17.9M-20.7% | $22.5M-31.5% | $32.9M+27.6% | $25.8M+10.7% | $23.3M+69.1% | $13.8M+13.1% | $12.2M-21.9% | $15.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $17.2M-5.3% | $18.2M+20.0% | $15.2M+1.4% | $14.9M-1.5% | $15.2M+27.2% | $11.9M+140.8% | $5.0M+160.3% | $1.9M |
| Retained Earnings | -$98.8M-1.1% | -$97.7M+2.7% | -$100.3M+0.1% | -$100.4M-0.6% | -$99.9M+3.0% | -$102.9M+0.8% | -$103.8M+0.9% | -$104.7M |
SLSN Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.5M-283.9% | -$654K+90.9% | -$7.2M-429.9% | $2.2M-47.9% | $4.2M+843.7% | -$565K+85.3% | -$3.9M-45.5% | -$2.6M |
| Capital Expenditures | $250K+247.2% | $72K+140.0% | $30K-98.8% | $2.6M+84.8% | $1.4M+194.1% | $477K+461.2% | $85K-57.3% | $199K |
| Free Cash Flow | -$401K-256.0% | $257K+123.4% | -$1.1M-171.8% | -$404K-114.4% | $2.8M+368.6% | -$1.0M+73.6% | -$3.9M-38.3% | -$2.8M |
| Investing Cash Flow | -$418K+70.3% | -$1.4M-1158.6% | $133K+105.1% | -$2.6M-84.8% | -$1.4M-194.1% | -$477K-461.2% | -$85K+57.3% | -$199K |
| Financing Cash Flow | -$750K-117.2% | $4.4M-41.9% | $7.5M+774.1% | -$1.1M+50.2% | -$2.2M-261.5% | $1.4M-67.4% | $4.2M+25.2% | $3.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SLSN Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.1%-5.8pp | 28.9%+5.8pp | 23.1%+1.1pp | 22.0%-14.2pp | 36.2%+7.5pp | 28.7%-7.6pp | 36.3%+30.4pp | 5.9% |
| Operating Margin | -5.3%-14.7pp | 9.4%+7.6pp | 1.8%+3.5pp | -1.8%-20.7pp | 19.0%+10.9pp | 8.0%-3.2pp | 11.3%+35.0pp | -23.7% |
| Net Margin | -7.7%-20.8pp | 13.1%+12.6pp | 0.5%+5.0pp | -4.5%-22.5pp | 18.1%+11.5pp | 6.6%-2.5pp | 9.0%+35.6pp | -26.6% |
| Return on Equity | N/A | 14.7%+14.1pp | 0.5% | N/A | 20.1%+12.9pp | 7.2%-10.9pp | 18.0% | N/A |
| Return on Assets | -2.1%-6.5pp | 4.5%+4.3pp | 0.1%+1.3pp | -1.1%-7.5pp | 6.3%+4.2pp | 2.1%-0.2pp | 2.3%+8.8pp | -6.5% |
| Current Ratio | 1.84+0.1 | 1.72+0.6 | 1.09-0.0 | 1.14-0.1 | 1.28-0.5 | 1.76-0.1 | 1.81+0.8 | 1.05 |
| Debt-to-Equity | 2.13-0.2 | 2.30-0.5 | 2.76+0.4 | 2.35+0.2 | 2.17-0.3 | 2.43-4.4 | 6.78-9.5 | 16.29 |
| FCF Margin | -15.1%-24.0pp | 8.9%+51.4pp | -42.5%-39.3pp | -3.2%-19.8pp | 16.6%+24.6pp | -8.0%+31.9pp | -39.9%-4.4pp | -35.6% |
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Frequently Asked Questions
What is Solesence's annual revenue?
Solesence (SLSN) reported $52.3M in total revenue for fiscal year 2024. This represents a 40.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Solesence's revenue growing?
Solesence (SLSN) revenue grew by 40.4% year-over-year, from $37.3M to $52.3M in fiscal year 2024.
Is Solesence profitable?
Yes, Solesence (SLSN) reported a net income of $4.2M in fiscal year 2024, with a net profit margin of 8.1%.
What is Solesence's earnings per share (EPS)?
Solesence (SLSN) reported diluted earnings per share of $0.07 for fiscal year 2024. This represents a 177.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Solesence's EBITDA?
Solesence (SLSN) had EBITDA of $6.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Solesence's gross margin?
Solesence (SLSN) had a gross margin of 30.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Solesence's operating margin?
Solesence (SLSN) had an operating margin of 9.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Solesence's net profit margin?
Solesence (SLSN) had a net profit margin of 8.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Solesence's return on equity (ROE)?
Solesence (SLSN) has a return on equity of 28.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Solesence's free cash flow?
Solesence (SLSN) generated -$2.6M in free cash flow during fiscal year 2024. This represents a 15.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Solesence's operating cash flow?
Solesence (SLSN) generated $2.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Solesence's total assets?
Solesence (SLSN) had $50.0M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Solesence's capital expenditures?
Solesence (SLSN) invested $4.6M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Solesence spend on research and development?
Solesence (SLSN) invested $3.8M in research and development during fiscal year 2024.
How many shares does Solesence have outstanding?
Solesence (SLSN) had 70M shares outstanding as of fiscal year 2024.
What is Solesence's current ratio?
Solesence (SLSN) had a current ratio of 1.14 as of fiscal year 2024, which is considered adequate.
What is Solesence's debt-to-equity ratio?
Solesence (SLSN) had a debt-to-equity ratio of 2.35 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Solesence's return on assets (ROA)?
Solesence (SLSN) had a return on assets of 8.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Solesence's Altman Z-Score?
Solesence (SLSN) has an Altman Z-Score of 0.08, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Solesence's Piotroski F-Score?
Solesence (SLSN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Solesence's earnings high quality?
Solesence (SLSN) has an earnings quality ratio of 0.47x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Solesence cover its interest payments?
Solesence (SLSN) has an interest coverage ratio of 7.7x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Solesence?
Solesence (SLSN) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.