Solesence Financials
This page shows Solesence (SLSN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Revenue growth is no longer dropping through because working capital demands and heavier selling costs are absorbing much of the operating benefit.
FY2025 stayed profitable at$1.8M , yet operating cash flow swung to-$8.6M , showing that reported earnings were tied up inside the business instead of arriving as usable cash. So the jump in current ratio from 1.1x to 2.1x reflects liability reduction more than cash accumulation, creating a healthier-looking liquidity ratio without a larger cash buffer.
The FY2024 rebound did not carry cleanly into FY2025 economics: revenue increased from
Below the gross line, selling intensity rose faster than scale, with SG&A climbing to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Solesence's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Solesence has an operating margin of 2.5%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is down from 9.8% the prior year.
Solesence's revenue surged 18.6% year-over-year to $62.1M, reflecting rapid business expansion. This strong growth earns a score of 89/100.
Solesence has a moderate D/E ratio of 1.84. This balance of debt and equity financing earns a leverage score of 32/100.
Solesence's current ratio of 2.07 indicates adequate short-term liquidity, earning a score of 59/100. The company can meet its near-term obligations, though with limited headroom.
Solesence's ROE of 10.2% shows moderate profitability relative to equity, earning a score of 35/100. This is down from 28.3% the prior year.
Solesence scores 0.16, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($65.7M) relative to total liabilities ($32.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Solesence passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Solesence generates $-4.79 in operating cash flow (-$8.6M OCF vs $1.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Solesence generated $62.1M in revenue in fiscal year 2025. This represents an increase of 18.6% from the prior year.
Solesence's EBITDA was $2.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 59.3% from the prior year.
Solesence reported $1.8M in net income in fiscal year 2025. This represents a decrease of 57.7% from the prior year.
Solesence earned $0.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 71.4% from the prior year.
Cash & Balance Sheet
Solesence held $1.3M in cash against $0 in long-term debt as of fiscal year 2025.
Solesence had 71M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Solesence's gross margin was 25.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.0 percentage points from the prior year.
Solesence's operating margin was 2.5% in fiscal year 2025, reflecting core business profitability. This is down 7.3 percentage points from the prior year.
Solesence's net profit margin was 2.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.2 percentage points from the prior year.
Solesence's ROE was 10.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 18.2 percentage points from the prior year.
Capital Allocation
Solesence invested $4.1M in research and development in fiscal year 2025. This represents an increase of 6.6% from the prior year.
SLSN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.0M+3.8% | $12.5M-14.5% | $14.6M-28.3% | $20.4M+39.2% | $14.6M+16.4% | $12.6M-25.5% | $16.9M+29.3% | $13.0M |
| Cost of Revenue | $9.6M+6.3% | $9.0M-19.4% | $11.2M-22.5% | $14.5M+28.8% | $11.2M+14.7% | $9.8M-8.9% | $10.8M+15.7% | $9.3M |
| Gross Profit | $3.3M-2.8% | $3.4M+1.9% | $3.4M-42.7% | $5.9M+73.8% | $3.4M+22.3% | $2.8M-54.7% | $6.1M+63.2% | $3.7M |
| R&D Expenses | $1.0M+0.7% | $1.0M-4.3% | $1.1M+13.3% | $955K-6.2% | $1.0M-6.9% | $1.1M+12.7% | $970K+12.3% | $864K |
| SG&A Expenses | $2.8M+26.5% | $2.2M-27.9% | $3.1M+1.9% | $3.0M+42.9% | $2.1M+11.1% | $1.9M-1.9% | $1.9M+5.7% | $1.8M |
| Operating Income | -$504K-369.5% | $187K+123.9% | -$781K-140.9% | $1.9M+646.1% | $256K+214.3% | -$224K-107.0% | $3.2M+205.4% | $1.0M |
| Interest Expense | $263K | N/A | N/A | N/A | $176K+63.0% | $108K-29.4% | $153K-19.9% | $191K |
| Income Tax | N/A | N/A | N/A | $390K | N/A | N/A | N/A | N/A |
| Net Income | -$766K-569.9% | $163K+114.6% | -$1.1M-142.0% | $2.7M+3233.8% | $80K+114.3% | -$559K-118.4% | $3.0M+255.7% | $856K |
| EPS (Diluted) | $-0.01 | N/A | $-0.02-150.0% | $0.04 | $0.00 | N/A | $0.04+300.0% | $0.01 |
SLSN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $47.8M-4.5% | $50.1M-7.3% | $54.0M-10.0% | $60.0M+5.2% | $57.0M+14.0% | $50.0M+4.1% | $48.0M+17.6% | $40.8M |
| Current Assets | $26.4M-8.2% | $28.8M-12.2% | $32.8M-15.4% | $38.8M+8.0% | $35.9M+22.3% | $29.3M-1.4% | $29.8M+22.7% | $24.3M |
| Cash & Equivalents | $573K-55.5% | $1.3M+200.2% | $429K-89.6% | $4.1M+126.1% | $1.8M+29.0% | $1.4M-51.8% | $2.9M+24.0% | $2.4M |
| Inventory | $17.6M-5.1% | $18.5M-1.9% | $18.9M-4.9% | $19.8M-9.5% | $21.9M+8.1% | $20.3M+34.7% | $15.0M+8.4% | $13.9M |
| Accounts Receivable | $6.4M-6.7% | $6.8M-29.6% | $9.7M-12.1% | $11.0M+21.6% | $9.1M+86.6% | $4.9M-44.2% | $8.7M+47.2% | $5.9M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $30.8M-4.9% | $32.4M-11.8% | $36.8M-12.0% | $41.8M-0.2% | $41.9M+19.4% | $35.1M+6.6% | $32.9M+13.7% | $28.9M |
| Current Liabilities | $12.7M-8.9% | $13.9M-22.0% | $17.9M-20.7% | $22.5M-31.5% | $32.9M+27.6% | $25.8M+10.7% | $23.3M+69.1% | $13.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $17.0M-3.8% | $17.6M+2.4% | $17.2M-5.3% | $18.2M+20.0% | $15.2M+1.4% | $14.9M-1.5% | $15.2M+27.2% | $11.9M |
| Retained Earnings | -$99.4M-0.8% | -$98.6M+0.2% | -$98.8M-1.1% | -$97.7M+2.7% | -$100.3M+0.1% | -$100.4M-0.6% | -$99.9M+3.0% | -$102.9M |
SLSN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.5M-16.6% | $1.8M+172.4% | -$2.5M-283.9% | -$654K+90.9% | -$7.2M-429.9% | $2.2M-47.9% | $4.2M+843.7% | -$565K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $2.6M+84.8% | $1.4M+194.1% | $477K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$404K-114.4% | $2.8M+368.6% | -$1.0M |
| Investing Cash Flow | -$528K-17.3% | -$450K-7.7% | -$418K+70.3% | -$1.4M-1158.6% | $133K+105.1% | -$2.6M-84.8% | -$1.4M-194.1% | -$477K |
| Financing Cash Flow | -$1.7M-234.1% | -$510K+32.0% | -$750K-117.2% | $4.4M-41.9% | $7.5M+774.1% | -$1.1M+50.2% | -$2.2M-261.5% | $1.4M |
| 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 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.8%-1.8pp | 27.5%+4.4pp | 23.1%-5.8pp | 28.9%+5.8pp | 23.1%+1.1pp | 22.0%-14.2pp | 36.2%+7.5pp | 28.7% |
| Operating Margin | -3.9%-5.4pp | 1.5%+6.9pp | -5.3%-14.7pp | 9.4%+7.6pp | 1.8%+3.5pp | -1.8%-20.7pp | 19.0%+10.9pp | 8.0% |
| Net Margin | -5.9%-7.2pp | 1.3%+9.0pp | -7.7%-20.8pp | 13.1%+12.6pp | 0.5%+5.0pp | -4.5%-22.5pp | 18.1%+11.5pp | 6.6% |
| Return on Equity | -4.5%-5.4pp | 0.9%+7.4pp | -6.5%-21.2pp | 14.7%+14.1pp | 0.5%+4.3pp | -3.7%-23.8pp | 20.1%+12.9pp | 7.2% |
| Return on Assets | -1.6%-1.9pp | 0.3%+2.4pp | -2.1%-6.5pp | 4.5%+4.3pp | 0.1%+1.3pp | -1.1%-7.5pp | 6.3%+4.2pp | 2.1% |
| Current Ratio | 2.08+0.0 | 2.07+0.2 | 1.84+0.1 | 1.72+0.6 | 1.09-0.0 | 1.14-0.1 | 1.28-0.5 | 1.76 |
| Debt-to-Equity | 1.82-0.0 | 1.84-0.3 | 2.13-0.2 | 2.30-0.5 | 2.76+0.4 | 2.35+0.2 | 2.17-0.3 | 2.43 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -3.2%-19.8pp | 16.6%+24.6pp | -8.0% |
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Frequently Asked Questions
What is Solesence's annual revenue?
Solesence (SLSN) reported $62.1M in total revenue for fiscal year 2025. This represents a 18.6% 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 18.6% year-over-year, from $52.3M to $62.1M in fiscal year 2025.
Is Solesence profitable?
Yes, Solesence (SLSN) reported a net income of $1.8M in fiscal year 2025, with a net profit margin of 2.9%.
What is Solesence's EBITDA?
Solesence (SLSN) had EBITDA of $2.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Solesence's gross margin?
Solesence (SLSN) had a gross margin of 25.9% in fiscal year 2025, 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 2.5% in fiscal year 2025, 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 2.9% in fiscal year 2025, 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 10.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Solesence's operating cash flow?
Solesence (SLSN) generated -$8.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Solesence's total assets?
Solesence (SLSN) had $50.1M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Solesence spend on research and development?
Solesence (SLSN) invested $4.1M in research and development during fiscal year 2025.
What is Solesence's current ratio?
Solesence (SLSN) had a current ratio of 2.07 as of fiscal year 2025, which is generally considered healthy.
What is Solesence's debt-to-equity ratio?
Solesence (SLSN) had a debt-to-equity ratio of 1.84 as of fiscal year 2025, 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 3.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Solesence's cash runway?
Based on fiscal year 2025 data, Solesence (SLSN) had $1.3M in cash against an annual operating cash burn of $8.6M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Solesence's Altman Z-Score?
Solesence (SLSN) has an Altman Z-Score of 0.16, 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 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 -4.79x, 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.
How financially healthy is Solesence?
Solesence (SLSN) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.