Solesence (SLSN) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 2024 revenue of $12.6 million (up 57–58% YoY) and full-year revenue of $52.3 million (up 40% YoY), exceeding guidance.

• Net income for 2024 was $4.2 million, reversing a $4.4 million net loss in 2023, reflecting an $8.6 million improvement.

• Gross margin expanded to 22% in Q4 (from 6%) and 31% for the year (from 21%).

• Announced plans to uplist to Nasdaq in 2025 and to hire a dedicated CFO.

• Company rebranded as Solésence, Inc., reflecting a focus on innovation and inclusivity in skin health.

Financial highlights

• Q4 2024 revenue: $12.6 million (+57–58% YoY); full-year revenue: $52.3 million (+40% YoY).

• Q4 net loss narrowed to $600,000 from $2.1 million prior year; full-year net income $4.2 million vs. $4.4 million loss in 2023.

• Gross margin: 22% in Q4 (up from 6%); 31% for the year (up from 21%).

• Adjusted EBITDA for 2024: $6.8 million, compared to $(2.0) million in 2023.

• Positive operating cash flow and reduced outstanding debt.

Outlook and guidance

• Expect continued growth in 2025, with demand outpacing market growth and further operational efficiencies.

• Anticipate record Q1 2025 revenues and strong Q2 performance, with higher shipment volumes.

• Guidance suggests gross margins in the 30s, with potential to reach 40% in strong quarters.

• Focus remains on growth, profitability, and working capital management.

• Continued investments in operations, R&D, and team to support long-term growth.