Every 10-Q that Solesence, Inc. (SLSN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SLSN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SLSN filings page.
Solésence, Inc. (SLSN) reported sharply lower sales and a loss for the quarter ended June 30, 2026, while disclosing a major accounting restatement and a material weakness in internal controls. Quarterly revenue was $15.3 million, down from $20.4 million a year earlier, and the company posted a net loss of $0.2 million versus net income of $3.2 million in 2025. For the first half of 2026, revenue was $28.3 million, down from $35.0 million, and the net loss was $1.1 million versus prior-year income of $3.6 million.
Despite weaker earnings, Solésence generated $1.7 million of operating cash flow in the first half of 2026 compared with a $7.9 million use of cash a year earlier, ending June with $1.0 million of cash and $46.4 million in total assets. Three customers accounted for 66% of second-quarter revenue and $7.7 million of receivables, underscoring significant customer concentration. Related-party borrowings with affiliates of a major shareholder totaled about $14.3 million, with facilities maturing in 2027.
Management found that historical inventory costing did not comply with ASC 330, causing inventory and equity to be overstated. As a result, multiple prior-year financial statements can no longer be relied upon and are being restated; December 31, 2025 inventory was reduced by $3.5 million and accumulated deficit increased by the same amount. The quarter’s statements were prepared using corrected methods, but the independent auditor had not completed its review as of filing. The company also recorded a $0.9 million settlement liability tied to a dispute with Refy Beauty and acknowledged a material weakness in internal control over inventory accounting, with remediation efforts underway.
Solésence, Inc. reported a net loss for the quarter ended March 31, 2026 as revenue declined. Total revenue was $12,957 (in thousands), down from $14,625 (in thousands) a year earlier, driven by lower consumer products and advanced materials sales, partly offset by higher personal care ingredients revenue.
Gross profit was $3,337 (in thousands), roughly flat versus $3,382 (in thousands), but higher selling, general and administrative expenses of $2,799 (in thousands) and research and development of $1,042 (in thousands) contributed to a net loss of $766 (in thousands), compared with net income of $80 (in thousands) in 2025.
Operating cash flow improved to $1,517 (in thousands) from a use of $7,221 (in thousands), aided by working capital changes. Cash decreased to $573 (in thousands) as of March 31, 2026, while related-party borrowings remained significant, including a $9,500 (in thousands) inventory facility and $3,047 (in thousands) drawn on an accounts receivable line.
Solésence, Inc. reported Q3 2025 results with total revenue of $14,597, down from $16,866 a year ago, and a net loss of $1,120 versus prior-year income of $3,045. Gross profit was $3,370 compared with $6,102 as cost of revenue rose to $11,227. Selling, general and administrative expense increased to $3,069, reflecting higher legal, credit loss allowance, employee and NASDAQ uplisting costs.
For the nine months, revenue reached $49,581, up from $39,780, and net income was $1,627 versus $4,793. Cash was $429 at quarter end, with operating cash outflow of $10,386 and financing inflows of $11,099, including related-party credit facilities. Accounts receivable, net, increased to $9,709 and the allowance for credit losses to $1,729. Three customers represented 60% of Q3 revenue.
Other items included recognition of $1,234 from the Employee Retention Credit and $194 of related interest. A confidential settlement provides for a $675 payment to Solésence by January 15, 2026. The company also notes BASF supply agreement contingencies that could impact equipment and revenue if triggered.
Solésence, Inc. (SLSN) reported stronger revenue and higher expenses for the quarter and first half of 2025 compared with 2024. Revenue for the three months ended June 30, 2025 was $20,359 thousand versus $13,046 thousand a year earlier, and revenue for the six months was $34,984 thousand versus $22,914 thousand. Total expense for Q2 2025 was $17,692 thousand versus $12,190 thousand in Q2 2024 (six months: $32,237 thousand versus $21,167 thousand). Operating activities used $7,875 thousand in cash in the period while financing activities provided $11,849 thousand. The company amended related-party credit facilities in May 2025 to increase accounts receivable and inventory revolvers and extended maturities to April 30, 2027. Management recognized $1,234 thousand of an Employee Retention Credit and recorded a $572 thousand reserve for the excess payment as a contingent liability included in accrued expenses.