Nanophase Q4/FY2023 revenue flat at $37.3M; net loss widens to $4.4M; secures $6M financing

SOLESENCE, INC.

Q4 revenue $8.0M (vs $8.3M YoY); full-year revenue $37.3M flat; net loss $4.4M ($0.09/sh) vs $2.6M in 2022.
Solésence revenue grew 9% to $25.2M; Personal Care Ingredients fell 17% to $9.3M; Advanced Materials fell 9% to $2.8M.
Closed $6M financing package in March 2024 to support working capital and growth.
Litigation costs contributed $1.3M to operating loss; company expects lower costs and positive resolution ahead.
Management expects $35M in shipped and open POs so far in 2024, with more orders expected in Q2-Q3.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOLESENCE, INC. reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue $8 million, net income $2.1 million.

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $8 million
Net income: $2.1 million
Result: reported results

Exact text from the filing

(PRESS RELEASE) --- EX-99.1 2 exh_991.htm PRESS RELEASE EdgarFiling EXHIBIT 99.1 Nanophase Reports Fourth Quarter and Year End 2023 Results, New Financing Package — Delivered $37.3 million in full year revenue — Closed on $6 million financing — Won 2024 Cosmetics and Toiletries Allē Award Finished Formula Prestige Category ROMEOVILLE, Ill., March 20, 2024 (GLOBE

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOLESENCE, INC. reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue $8 million, net income $2.1 million.

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $8 million
Net income: $2.1 million
Result: reported results

Exact text from the filing

and operations management efforts,” added Cureton. 2023 Q4 Financial Information Fourth Quarter and Full Year 2023 Financial Highlights Revenue for the fourth quarter was $8 million, vs. $8.3 million for the same period in 2022. Revenue for the full year was $37.3 million, which was the same for 2022. Additional capital was secured with a $6 million

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

SOLESENCE, INC. filing history →

Source: SEC EDGAR

accession 0001171843-24-001508

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