Core Insights - Solésence, Inc. is undergoing a strategic transformation aimed at enhancing innovation, product quality, and operational efficiency while expanding its market reach in skin care, sun care, and color cosmetics [3][6]. Financial Performance - Revenue for Q3 2025 was $14.5 million, a decrease from $16.9 million in Q3 2024, reflecting a year-over-year decline of approximately 14% [9]. - Gross margin for Q3 2025 was 23%, down from 36% in the same quarter of 2024, indicating a significant reduction in profitability [9]. - Gross profit for Q3 2025 was $3.4 million, compared to $6.1 million in Q3 2024, marking a decline of about 44% [9]. - The company reported a net loss of $1.1 million for Q3 2025, contrasting with a net income of $3.0 million in Q3 2024 [9]. Operational Highlights - The company has consolidated its manufacturing facilities from three to two, aiming to improve operational efficiencies [9]. - Recent structural changes include unifying R&D and Quality teams and increasing production automation to enhance productivity [6][9]. - The appointment of Laura Riffer as CFO and the promotion of Kevin Cureton to CEO are part of the leadership changes to support the company's strategic initiatives [8]. Strategic Initiatives - Solésence is focused on driving future innovation and growth through key leadership changes and operational restructuring [3][8]. - The company aims to solidify its position as a long-term partner for brand partners by delivering high-quality products efficiently [6].
Solésence Reports Third Quarter 2025 Financial Results