Solesence | 8-K: FY2026 Q1 Revenue: USD 12.96 M

Revenue: As of FY2026 Q1, the actual value is USD 12.96 M.

EPS: As of FY2026 Q1, the actual value is USD -0.01.

EBIT: As of FY2026 Q1, the actual value is USD -241 K.

Solesence, Inc. reported its financial results for the first quarter ended March 31, 2026, emphasizing operational excellence and new technology commercialization under its Transform and Transcend strategic initiative .

Revenue

• Net revenue for the first quarter of 2026 was $12,957 thousand, decreasing from $14,625 thousand for the same period in 2025 .
• Product revenue was $12,919 thousand in Q1 2026, compared to $14,575 thousand in Q1 2025 .
• Other revenue was $38 thousand in Q1 2026, down from $50 thousand in Q1 2025 .

Gross Profit and Margin

• Gross profit in Q1 2026 was $3,337 thousand, a slight decrease from $3,382 thousand in Q1 2025 .
• Gross margin improved to 26% in Q1 2026, up from 23% in Q1 2025 .
• Cost of revenue was $9,620 thousand in Q1 2026, compared to $11,243 thousand in Q1 2025 .

Operating Expenses

• Research and development expense was $1,042 thousand in Q1 2026, compared to $1,018 thousand in Q1 2025 .
• Selling, general and administrative expense increased to $2,799 thousand in Q1 2026, from $2,108 thousand in Q1 2025 .

Profitability

• Net loss from operations was -$504 thousand in Q1 2026, a decline from net income from operations of $256 thousand in Q1 2025 .
• Net loss for Q1 2026 was -$766 thousand, compared to net income of $80 thousand for Q1 2025 .
• Net loss per share-basic was -$0.01 in Q1 2026, compared to $0.00 in Q1 2025 .
• Adjusted EBITDA (Non-GAAP) was -$107 thousand in Q1 2026, down from $609 thousand in Q1 2025 .

Balance Sheet Highlights

• Cash decreased to $573 thousand as of March 31, 2026, from $1,288 thousand as of December 31, 2025 .
• Trade accounts receivable, net, was $6,379 thousand as of March 31, 2026, compared to $6,836 thousand as of December 31, 2025 .
• Inventories, net, stood at $17,559 thousand as of March 31, 2026, down from $18,511 thousand as of December 31, 2025 .
• Total current assets were $26,413 thousand as of March 31, 2026, decreasing from $28,776 thousand as of December 31, 2025 .
• Total assets were $47,794 thousand as of March 31, 2026, compared to $50,055 thousand as of December 31, 2025 .
• Total current liabilities were $12,691 thousand as of March 31, 2026, a decrease from $13,929 thousand as of December 31, 2025 .
• Accumulated deficit was -$99,404 thousand as of March 31, 2026, compared to -$98,638 thousand as of December 31, 2025 .

Outlook / Guidance

Solesence, Inc. expects its investments in operational infrastructure, including employee training and organizational restructuring, to position the company for improved operational and financial results through the year . The company is also focused on leveraging its intellectual property, expanding its addressable market, and evolving its service model to drive long-term, sustainable profitability and growth .