Solésence says prior financial statements no longer reliable after inventory accounting errors found
SLSN•Inventory errors affected multiple periods
According to the company, inventory overstatements misstated cost of revenue, gross profit, operating income, net income, equity and earnings per share across multiple periods.
Amended Form 10-K and Form 10-Q filings are expected in the coming weeks to restate results for 2023-2025 and several interim quarters.
Prior financial statements deemed unreliable
Solésence says a financial reporting compliance failure tied to inventory costing did not meet ASC 330 requirements.
The company said its audit committee, board and executives concluded on Aug. 17, 2026 that prior financial statements should no longer be relied upon.
