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Solesence's Q3 revenue rises 38% to record high

By Reuters News


Overview

  • US health care solutions firm's Q3 revenue rose 38% yr/yr to record $20.2 mln

  • Net income reached $3.7 mln, highest in company history

  • Gross margin improved to 39.3% from 23.8% on operational gains


Outlook

  • Company says it is positioned for sustained growth following operational improvements

  • Solésence says elevated capacity and efficiency will help meet robust demand and scale operations

  • Company expects continued innovation and global expansion to drive long-term growth


Result Drivers

  • OPERATIONAL IMPROVEMENTS - Co said completion of investment and implementation phase in operational excellence increased capacity and efficiency, supporting revenue growth

  • PRODUCT INNOVATION - Continued development of novel formulations contributed to growth, according to CEO Kevin Cureton

  • GROSS MARGIN EXPANSION - Margin improvement attributed to operational and financial improvements, per CFO Laura Riffner


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EBITDA

$4.31 mln

Q3 Gross Profit

$7.93 mln

Q3 Pretax Profit

$3.89 mln


Reuters Recommended Reads

  • Nov 9 - Myomo Q3 revenue rises 22% to record high

  • Nov 11 - Oddity Tech Q3 revenue falls 2% but beats estimates

  • Nov 10 - Harvard Bioscience Q3 revenue rises 8%, beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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