Skinvisible, Inc. reported its financial results for the third quarter and the nine months ended September 30, 2025, revealing a consistent revenue stream but ongoing challenges in profitability. The company generated revenues of $5,000 for the three months ended September 30, 2025, unchanged from the same period in 2024. For the nine-month period, revenues also remained flat at $15,000 compared to the previous year. The gross profit for both periods was reported at $5,000 for the quarter and $15,000 for the nine months, with no cost of revenues incurred.
The company experienced a reduction in operating expenses, which fell to $111,057 for the third quarter of 2025 from $129,969 in the same quarter of 2024. For the nine-month period, operating expenses decreased to $397,146 from $405,846 year-over-year. Despite these reductions, Skinvisible reported a net loss of $250,245 for the third quarter of 2025, an improvement from a net loss of $286,604 in the same quarter of 2024. The nine-month net loss also decreased to $805,677 from $880,425 in the prior year.
Skinvisible's balance sheet as of September 30, 2025, showed total assets of $133,623, down from $158,217 at the end of 2024. Current liabilities increased to $4,765,644 from $3,657,266, contributing to a working capital deficit of $4,737,175. The company has accumulated a total deficit of $40,751,819 since its inception, raising concerns about its ability to continue as a going concern. Management indicated that future operations would depend on securing additional financing and generating revenue from licensing agreements.
Strategically, Skinvisible has been focusing on expanding its product offerings and licensing agreements. The company has entered into a new agreement with Ovation Science, granting exclusive global rights to use its Invisicare technology for cannabinoid-based products. Additionally, Skinvisible is pursuing new patent applications for transdermal delivery systems targeting obesity and glucose-controlling agents, which could open new market opportunities. The company aims to leverage its patented polymer delivery system, Invisicare, to enhance the efficacy of topical treatments in various healthcare markets.
Looking ahead, Skinvisible anticipates that its licensing agreements with partners like Quoin Pharmaceuticals will yield increased revenues in the latter half of 2025. However, the company acknowledges the uncertainty surrounding its ability to raise necessary capital and achieve profitability. Management's plans include seeking additional funding through private equity offerings and exploring commercial arrangements with pharmaceutical and biotech companies to capitalize on its recent patent filings.
About SKINVISIBLE, INC.
Skinvisible, Inc. is a Nevada-based pharmaceutical R&D company specializing in innovative topical skin products. It developed the patented Invisicare delivery system, enhancing active ingredient absorption and duration on the skin. The company licenses its technology and formulations globally, targeting skincare, dermatology, and medical markets. Revenue is generated through licensing, co-development, and product reformulation, with a focus on expanding its product pipeline and strategic partnerships.
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