Skinvisible, Inc. Reports Q2 2025 Financial Results with Net Loss of $274,427

Skinvisible, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $274,427 for the three months ended June 30, 2025, compared to a net loss of $303,449 for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $555,432, a slight improvement from the $593,821 loss reported in the prior year. Revenue remained unchanged at $5,000 for the three months and $10,000 for the six months, indicating a stable but stagnant revenue stream. The company’s gross profit also held steady at $5,000 for both periods, as there were no costs of revenue reported.

The company’s total assets decreased to $143,375 as of June 30, 2025, down from $158,217 at the end of 2024. Current assets also fell to $33,102, primarily due to a significant reduction in cash, which dropped to $120 from $10,336. Current liabilities increased to $4,525,151, up from $3,657,266, leading to a working capital deficit of $4,492,049, compared to a deficit of $3,615,238 at the end of the previous fiscal year. This deterioration in financial position raises concerns about the company’s ability to continue as a going concern, as it has incurred cumulative net losses of $40,501,574 since inception.

Operationally, Skinvisible continues to focus on its patented polymer delivery system, Invisicare, which is designed for topical applications in various markets, including pharmaceuticals and personal care. The company is actively pursuing licensing agreements for its products, with hopes of generating more revenue from existing licenses with Quoin Pharmaceuticals and Ovation Science. The company has also filed provisional patent applications for new formulations targeting obesity and glucose control, which could open additional revenue streams in the future.

Despite the challenges, Skinvisible's management remains optimistic about future growth, citing the potential for increased licensing revenue and the successful development of its product pipeline. However, the company acknowledges the need for additional capital to fund its operations and marketing activities. Management plans to seek funding through licensing agreements and potential equity offerings, although the success of these efforts remains uncertain. The company has also identified material weaknesses in its internal controls, which it aims to address through improved personnel and policies, contingent on securing necessary financing.

In summary, while Skinvisible, Inc. has maintained stable revenue figures, its financial health has deteriorated, prompting concerns about its ability to sustain operations without additional funding. The company is focused on leveraging its innovative product offerings and licensing agreements to drive future growth, but faces significant challenges in the current market environment.