Solésence Reports 56% Revenue Growth to $20.4 Million in Q2 2025

Solésence, Inc. reported significant financial growth in its latest quarterly filing, with total revenue reaching $20.4 million for the three months ended June 30, 2025, a 56% increase from $13.0 million in the same period last year. For the first half of 2025, revenue totaled $35.0 million, up from $22.9 million in the prior year. The increase in revenue was primarily driven by higher product sales in the consumer products and personal care ingredients categories, which accounted for 73% of total revenue from three major customers during the quarter.

The company's operating expenses also rose, with costs of revenue increasing to $14.5 million for the second quarter of 2025, compared to $9.3 million in the same quarter of 2024. This rise was attributed to increased production volumes and operational inefficiencies. Despite the higher costs, Solésence reported a net income of $2.7 million for the second quarter, compared to $856,000 in the same period last year, reflecting improved profitability. The net income per share for the quarter was $0.04, up from $0.02 in the previous year.

In terms of strategic developments, Solésence underwent a rebranding from Nanophase Technologies Corporation in March 2025 and began trading on Nasdaq under the symbol SLSN in April. The company has focused on expanding its consumer products segment, which has seen unprecedented demand. The total assets of Solésence increased to $60.0 million as of June 30, 2025, up from $50.0 million at the end of 2024, driven by higher cash reserves and trade accounts receivable.

Operationally, Solésence reported a notable increase in customer engagement, with significant sales growth from its three largest customers, which included a new client. The company also experienced a rise in international sales, with revenue from overseas sources approximating $2.5 million for the second quarter, compared to $478,000 in the same period last year. The total employee headcount has also increased, reflecting the company's growth and expansion efforts.

Looking ahead, Solésence aims to continue leveraging its proprietary technologies to enhance product offerings and expand its market presence. The company plans to invest between $1 million and $3 million in capital expenditures in 2025 to support growth initiatives, funded through operational profits and existing credit lines. Management remains optimistic about the future, citing strong demand for its consumer products and a strategic focus on innovation and market expansion as key drivers for continued growth.