Solesence Inc. 2025年季度报告

Form10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended:March 31, 2025or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OFTHE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _______ to_______Commission File Number:000-22333 Solesence, Inc. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, everyInteractive Data File required to be submitted and posted pursuant to Rule405 of Regulation S-T during the preceding 12 months (or for such Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “accelerated filer”, “large accelerated filer”, “smaller reporting If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ As of May 12, 2025, there were70,103,279shares outstanding of common stock, par value $.01, of the registrant. QUARTER ENDED MARCH 31, 2025 INDEX PART I – FINANCIAL INFORMATION CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY(Unaudited Consolidated Condensed)(in thousands except share data) SOLESENCE, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited Consolidated Condensed) (In thousands, except share and per share data or as otherwise noted herein) (1)Basis of Presentation The accompanying unaudited consolidated condensed interim financial statements of Solesence, Inc. (“Solésence”, “Company”, “we”,“our”, or “us”) reflect all adjustments (consisting of normal recurring adjustments) which, in the opinion of management, are necessary for afair statement of our financial position and operating results for the interim periods presented. All statements include the results from both (2)Description of Business Solesence, Inc. (“Solésence”, “Company”, “we”, “our”, or “us”) is a science-driven company which, along with its wholly ownedsubsidiary, Solésence, LLC (our “Solésence beauty science subsidiary”), is focused in various beauty- and life-science markets.Usingconsumer health as our end-goal and science and innovation to guide the path, skin health and medical diagnostics combined currently make upthe majority of our business and drive our forward growth strategy.We offer engineered materials, formulation development and commercialmanufacturing through an integrated family of technologies. Our expertise in materials engineering allows us to effectively coat and disperseparticles on a nano and “non-nano” scale for use in a variety of skin health markets, including for use in sunscreens as active ingredients and asfully developed prestige skin care and cosmetics products, marketed and sold through our Solésence beauty science subsidiary.In terms of our We target markets, primarily related to skin health products and ingredients, as well as diagnostic life sciences ingredients where webelieve our materials and products offer practical and competitive minerals-based solutions. We traditionally work closely with currentcustomers in these target markets to identify their material and performance requirements. We market our materials to various end-use Recently developed technologies have made certain new products possible and opened potential new markets. During 2015 we weregranted a patent on a new type of particle surface treatment (coating) — now called Active Stress Defense ™ Technology — which became thecornerstone of our new product development in personal care, with first revenue recognized during 2016. Active Stress Defense™ now refers toa suite of three proprietary technologies — Original Active Stress Defense™, Kleair™, and Bloom™ — all three of which either utilize aunique and proprietary, mineral-based technology or work synergistically with one of our unique and proprietary, mineral-based technologies toimprove performance and/or aesthetics. Our ongoing innovation efforts include new IP in areas that advance environmental protection, align Although our primary strategic focus has been the North American market, we currently sell materials to customers overseas and havebeen working to expand our reach within foreign markets. On April 8, 2025 the Company’s securities were uplis