Solésence publishes restated 2024 annual report
SLSN•SLSN•SLSN•SLSN•Solésence restated its 2024 results, reducing net income to $1.1 million from $4.24 million after inventory-costing errors. It also reported ineffective internal controls and $252,785 in executive compensation clawbacks, with $158,447 outstanding as of October 9, 2026.
Solésence restated its 2024 annual results after inventory-costing errors. Inventory fell by $4.65 million to $15.62 million, and cost of revenue rose by $3.14 million to $39.3 million. The 2023 net loss widened to $4.94 million from $4.39 million; operating cash flows were unchanged in both years.
Management identified material weaknesses in inventory costing and financial reporting oversight and concluded that internal controls were ineffective as of December 31, 2024. Executive compensation clawbacks totaled $252,785, with $158,447 outstanding as of October 9, 2026.
