Nanophase Technologies Corp ( (NANX) ) has released its Q4 earnings. Here is a breakdown of the information Nanophase Technologies Corp presented to its investors.
Solésence, Inc., formerly known as Nanophase Technologies Corp, is a prominent player in the beauty and life sciences sector, specializing in innovative skin health solutions. The company has recently rebranded to reflect its commitment to inclusivity and self-expression through its advanced mineral-based sun protection products.
In its latest earnings report, Solésence announced record-breaking financial results for the fourth quarter and full year 2024. The company reported a 58% increase in fourth-quarter revenue, reaching $12.6 million, and a 40% increase in annual revenue, totaling $52.3 million. These results underscore the successful execution of their consumer products strategy and the growing demand for their transformative skin health technologies.
Key financial highlights include a significant rise in gross profit, which surged by 460% in the fourth quarter, and an impressive turnaround from a net loss to a net income of $4.2 million for the full year. The company’s strategic initiatives, such as expanding production capabilities and launching new product lines, have contributed to its robust financial performance. Additionally, Solésence’s decision to pursue an uplisting to the NASDAQ market in 2025 marks a pivotal step in its growth trajectory.
Looking ahead, Solésence is poised for continued growth as it invests in operations, research and development, and team expansion. The company’s leadership remains optimistic about scaling for long-term success, driven by strong customer partnerships and a commitment to innovation in skin health solutions.