Solesence's Q3 revenue rises 38% to record high
SLSN•Solesence's third-quarter revenue rose 38% year over year to a record $20.2 million, while net income reached a company-high $3.7 million. Gross margin increased to 39.3% from 23.8%.
1. Record quarterly results
Solesence reported third-quarter revenue of $20.2 million, up 38% year over year, and net income of $3.7 million, its highest in company history. Gross margin rose to 39.3% from 23.8%.
2. Operational gains
The company attributed growth to increased capacity and efficiency after completing its investment and operational-excellence implementation phase. It also cited continued development of novel formulations. Adjusted EBITDA was $4.31 million, gross profit was $7.93 million and pretax profit was $3.89 million.
3. Company outlook
Solesence said elevated capacity and efficiency will help it meet robust demand and scale operations. It expects continued innovation and global expansion to drive long-term growth.
