Skinvisible Reports $20,000 Revenue and Increased Net Loss for Fiscal Year 2025

Skinvisible, Inc., a pharmaceutical research and development company, reported a revenue of $20,000 for the fiscal year ending December 31, 2025, consistent with the previous year. The company has not generated significant revenue from its licensing agreements, which include partnerships with Quoin Pharmaceuticals and Ovation Science. Despite the stagnant revenue, Skinvisible's gross profit remained at 100% due to zero cost of revenues. However, the company recorded a net loss of $1,064,034, an increase from a loss of $565,654 in 2024, primarily driven by increased interest expenses and operational costs.

The company's operating expenses decreased to $516,315 in 2025 from $609,589 in 2024, reflecting a reduction in selling, general, and administrative expenses. Skinvisible's accumulated deficit has now reached $41,010,176 since its inception, raising concerns about its ability to continue as a going concern. The company reported a working capital deficit of $4,990,414 as of December 31, 2025, compared to $3,637,658 the previous year, indicating a worsening financial position.

Strategically, Skinvisible has focused on expanding its product offerings and licensing agreements. The company has developed over forty topical skin products utilizing its patented Invisicare polymer delivery system, which enhances the efficacy of active ingredients in skincare products. Notably, Quoin Pharmaceuticals has made significant progress in clinical trials for its product QRX003, which targets Netherton Syndrome and utilizes Skinvisible's technology. The trials have shown positive initial data, and Quoin has received FDA clearance to include teen subjects in its studies, which could expedite the recruitment process and enhance the data set for regulatory approval.

Operationally, Skinvisible has maintained a small workforce, with only two employees as of the end of 2025. The company is actively seeking to expand its market presence and product adoption rates, particularly in the dermatology and over-the-counter markets, which are estimated to be worth $80 billion and $30 billion, respectively. Skinvisible is also exploring opportunities in other healthcare markets, including obesity treatments, leveraging its patented technology for transdermal delivery systems.

Looking ahead, Skinvisible aims to generate more revenue through its licensing agreements and is considering additional financing options to support its operations. The company acknowledges the uncertainty surrounding its ability to raise capital and achieve profitable operations, which will be critical for its future growth and sustainability. The management plans to enhance its internal controls and financial reporting processes, contingent upon securing the necessary funding to implement these changes.