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ROMEOVILLE, Ill. - Solésence, Inc. (OTCQB: NANX), recognized for its health care solutions in beauty and life science sectors, has gained approval for its securities to begin trading on the Nasdaq Capital Market starting Tuesday. The company's shares, previously listed on the OTCQB, will now be available under the ticker symbol SLSN. The $118 million market cap company has demonstrated strong performance, with revenue growing 40% over the last twelve months according to InvestingPro data.
The transition to Nasdaq follows Solésence's fulfillment of all necessary public listing requirements for the Nasdaq Capital Market. Jess Jankowski, President and CEO of Solésence, expressed optimism about the move, anticipating enhanced visibility in the investment community, an expanded shareholder base, and increased value for stakeholders.
Kevin Cureton, Chief Operating Officer, highlighted the company's growth and the potential for the Nasdaq listing to provide resources that could scale the business and boost profitability beyond what is accessible to many competitors.
Solésence, with a focus on innovation and inclusivity, has made strides in mineral-based sun protection, offering products that combine protection, prevention, and treatment. The company's approach aims to empower individuals to define beauty on their terms, supporting brands in delivering unique product claims.
As this announcement marks a significant corporate milestone, it also contains forward-looking statements regarding expectations, projections, and future company performance. While InvestingPro analysis indicates the stock is currently trading near its Fair Value, investors should note the recent market volatility, with shares declining 15% in the past week. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those anticipated. Solésence has outlined these potential risks in its latest Form 10-K filed on March 31, 2025.
The information in this article is based on a press release statement from Solésence, Inc.
In other recent news, Solesence Inc. reported a strong performance in Q4 2024, with revenue surging 57% year-over-year to $12.6 million. The company also improved its gross margin significantly, reaching 22% compared to 6% the previous year, and narrowed its net loss to $600,000 from $2.1 million. For the full year, Solesence achieved a revenue of $52.3 million, marking a 40% increase, and a net income of $4.2 million, a substantial improvement from the previous year's loss. Solesence is optimistic about its growth trajectory, targeting over 30% growth in 2025 and planning for a NASDAQ uplisting. The company recently launched more than two dozen new products and secured two new patents, further expanding its product line. Analysts have noted the company's ongoing efforts to improve operational efficiency and expand production capabilities. Solesence's executives expressed confidence in maintaining profitability in Q1 2025, despite potential challenges such as tariff impacts and changing customer ordering patterns.
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