Latest news with #Romeoville
Yahoo
31-07-2025
- Business
- Yahoo
Solésence Reports Second Quarter 2025 Financial Results
Strong commercial execution drove revenue growth of 56% to $20.4 million ROMEOVILLE, Ill., July 31, 2025 (GLOBE NEWSWIRE) -- Solésence, Inc. (Nasdaq: SLSN), a leader in scientifically-driven health care solutions across beauty and life science categories, today announced financial results for the second quarter ended June 30, 2025. Recent Highlights and Accomplishments Joined broad-market Russell 3000® and small-cap Russell 2000® Indexes Amended loan agreements to fuel growth initiatives 'During our seasonally highest-performing quarter, we're pleased with the effectiveness of our commercial execution and the consistent, on-time delivery of products to our partners,' said Jess Jankowski, President and Chief Executive Officer of Solésence. 'Innovation remains at the heart of our unique value proposition and is why leading brands continue to choose us. As the market continues to evolve, we are focused on equipping our partners with differentiated consumer products that enrich lives and promote well-being.' Second Quarter 2025 Financial Results Revenue for the second quarter increased 56% to a record $20.4 million, compared to $13.0 million for the same period in 2024. Gross profit in the second quarter was $5.9 million, compared to $3.7 million for the same period in 2024. Gross margin in the second quarter was 29%, similar to the second quarter in 2024. Net income for the second quarter was $2.7 million, which includes an Employee Retention Credit net receipt of approximately $1.2 million plus related interest, compared to a net income of $0.9 million for the same period in 2024. Second Quarter 2025 Operational Highlights Expanded debt facilities to support executing the Company's long-term growth initiatives. The new facility expands the Company's three loan agreements to a maximum borrowing capacity from $14.2 million to $23.0 million and extends the maturity date under each respective loan agreement from October 1, 2025 to April 30, 2027. Shipment volume increased 102% year-over-year. Production volume increased 127% year-over-year. 'Operationally, we improved gross margin sequentially from the first quarter, while ramping up production during our peak demand season,' said Kevin Cureton, Chief Operating Officer. 'We appreciate the committed efforts of our team that enabled us to deliver another record unit volume quarter. Now with additional borrowing capacity from our debt facilities that we amended in June, we have enhanced our financial flexibility to further invest in our future and scale for growth.' Conference Call Solésence will host its first quarter conference call on Thursday, July 31, 2025, at 4:00 p.m. CDT, 5:00 p.m. EDT, to discuss its financial results and provide a business and financial update. On the call will be Jess Jankowski, President and Chief Executive Officer, and Kevin Cureton, Chief Operating Officer. Webcast Link: Dial-In Link: To receive the dial-in number, as well as your personalized PIN, you must register at the above link. Once registered, you will also have the option to have the system dial-out to you once the conference call begins. If you forget your PIN prior to the conference call, you can simply re-register. The call may also be accessed through the Company's investor relations website, at Please join the conference call at least five minutes before prior to the start time. FINANCIAL RESULTS AND NON-GAAP INFORMATION Use of Non-GAAP Financial Information Solésence believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, Generally Accepted Accounting Principles ('GAAP') and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with GAAP. About Solésence, Inc. Solésence, Inc. (Nasdaq: SLSN), is a leader in scientifically-driven health care solutions across beauty and life science categories. With a mission to deliver joy through innovation, inclusivity and the science of beautiful skin, we have redefined mineral-based sun protection by maximizing transparency, effectiveness, aesthetics, and wearability — empowering individuals to embrace beauty on their own terms. Combining best-in-class skin health solutions with the celebration of self-care, we allow brands to deliver unique product claims and attributes by seamlessly integrating protection, prevention, and treatment technologies into daily use products. Learn more at Forward-Looking Statements This press release contains words such as 'expects,' 'shall,' 'will,' 'believes,' and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company's current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company's results of operations, performance, and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company's dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company's engineered materials, ingredients, and fully formulated products; the Company's manufacturing capacity and product mix flexibility in light of customer demand; the Company's limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company's dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company's Form 10-K filed March 31, 2025. In addition, the Company's forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties, or other contingencies. Media Contact: media@ Investor Relations Contact:investors@ SOLÉSENCE, INC CONSOLIDATED BALANCE SHEETS (Unaudited Consolidated Condensed) (in thousands except share and per share data) June 30, December 31, 2025 2024 ASSETS Current assets: Cash $ 4,108 $ 1,409 Trade accounts receivable 12,470 5,655 Allowance for credit losses (1,421 ) (786 ) Trade accounts receivable, net 11,049 4,869 Inventories, net 19,832 20,267 Prepaid expenses and other current assets 3,781 2,803 Total current assets 38,770 29,348 Equipment and leasehold improvements, net 13,559 12,734 Operating leases, right of use 7,627 7,917 Other assets, net - 3 Total assets $ 59,956 $ 50,002 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Line of credit, accounts receivable, related party $ 6,099 $ - Current portion of line of credit, inventory, related party 9,500 4,000 Current portion of debt, related parties 1,000 1,000 Current portion of operating lease obligations 1,231 1,260 Accounts payable 6,891 9,093 Current portion of deferred revenue 2,169 5,571 Accrued expenses 6,146 4,849 Total current liabilities 33,036 25,773 Long-term portion of operating lease obligations 8,482 9,037 Asset retirement obligations 250 246 Total long-term liabilities 8,732 9,283 Contingent liabilities Stockholders' equity: Preferred stock, $.01 par value, 24,088 shares authorized and no shares issued and outstanding - - Common stock, $.01 par value, 95,000,000 shares authorized; 70,481,945 and 70,103,279 shares issued and outstanding on June 30, 2025 and December 31, 2024, respectively 704 700 Additional paid-in capital 115,165 114,674 Accumulated deficit (97,681 ) (100,428 ) Total stockholders' equity 18,188 14,946 Total liabilities and shareholders' equity $ 59,956 $ 50,002 SOLÉSENCE, INC CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited Consolidated Condensed) (in thousands except share and per share data) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 (in thousands except share and per share data) Revenue: Product revenue $ 20,261 $ 12,923 $ 34,836 $ 22,694 Other revenue 98 123 148 220 Net revenue 20,359 13,046 34,984 22,914 Cost of revenue 14,482 9,306 25,725 15,594 Gross profit 5,877 3,740 9,259 7,320 Operating expense: Research and development expense 955 864 1,973 1,776 Selling, general and administrative expense 3,012 1,829 5,120 3,388 Income from operations 1,910 1,047 2,166 2,156 Interest income - Interest expense, net 87 191 263 409 Other income, net 1,234 - 1,234 - Income before provision for income taxes 3,057 856 3,137 1,747 Provision for income taxes 390 - 390 - Net income $ 2,667 $ 856 $ 2,747 $ 1,747 Net income per share-basic $ 0.04 $ 0.02 $ 0.04 $ 0.03 Weighted average number of basic shares outstanding 70,200,039 56,674,170 70,151,928 54,675,011 Net income per share-diluted $ 0.04 $ 0.01 $ 0.04 $ 0.03 Weighted average number of diluted shares outstanding 72,548,819 58,709,170 72,497,829 56,662,011 SOLÉSENCE, INC CONSOLIDATED STATEMENTS OF OPERATIONS - EXPANDED SCHEDULE (non-GAAP) (Unaudited Consolidated Condensed) (in thousands except share and per share data) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 (in thousands except share and per share data) Revenue: Product revenue, net $ 20,261 $ 12,923 $ 34,836 $ 22,694 Other revenue 98 123 148 220 Net revenue 20,359 13,046 34,984 22,914 Operating expense: Cost of revenue detail: Depreciation 216 222 428 444 Non-Cash equity compensation 28 28 54 54 Other costs of revenue 14,238 9,056 25,243 15,096 Cost of revenue 14,482 9,306 25,725 15,594 Gross profit 5,877 3,740 9,259 7,320 Research and development expense detail: Depreciation 4 5 7 11 Non-Cash equity compensation 28 32 55 65 Other research and development expense 923 827 1,911 1,700 Research and development expense 955 864 1,973 1,776 Selling, general and administrative expense detail: Depreciation and amortization 5 7 11 14 Non-Cash equity compensation 64 97 138 198 Other selling, general and administrative expense 2,943 1,725 4,971 3,176 Selling, general and administrative expense 3,012 1,829 5,120 3,388 Income from operations 1,910 1,047 2,166 2,156 Interest expense, net 87 191 263 409 Other income, net 1,234 - 1,234 - Income before provision for income taxes 3,057 856 3,137 1,747 Provision for income taxes 390 - 390 - Net income $ 2,667 $ 856 $ 2,747 $ 1,747 Non-GAAP Disclosure (see note regarding Non-GAAP disclosures): Addback Interest, net 87 191 263 409 Addback Depreciation/Amortization 225 234 446 469 Addback Non-Cash Equity Compensation 120 157 247 317 Addback Provision for Income Taxes 390 390 - Adjusted EBITDA** $ 3,489 $ 1,438 $ 4,093 $ 2,942 **Includes $1,234 in other (cash) income from ERC in 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-07-2025
- Business
- Yahoo
Formerra to Supply Foster Medical Compounds Across the Americas
Following GEON's acquisition of Foster, LLC, this new agreement expands Formerra's healthcare polymer portfolio with life-saving medical compounds. ROMEOVILLE, IL / / July 15, 2025 / Formerra, a leader in performance materials distribution, today announced an agreement with GEON® Performance Solutions that designates Formerra as the preferred distributor of Foster®, LLC medical compounds in North America and South America. The agreement follows GEON's acquisition of Foster, LLC, and builds on Formerra's long-standing, global partnership with GEON for flexible and rigid PVC and filled polypropylene materials. "This expanded partnership equips our customers with a broader set of proven medical-grade solutions while leveraging Formerra's technical guidance and robust supply-chain capabilities," said Kelly Wessner, Vice President, Key Accounts, Formerra. "Foster's brand strength and GEON's investment momentum create powerful growth potential for these materials and our customers." Foster, LLC brings more than 30 years of expertise in custom medical polymer compounding, offering highly engineered formulations. Ranging from radio-opaque and pre-colored to USP Class VI and ISO 10993-compliant grades, Foster materials serve critical applications such as medical device housings, drug-delivery and auto-injector components, surgical tools, and remote patient monitoring devices. "It is a privilege to serve the high-growth healthcare and medical device industry as GEON embarks on this new journey with Foster and Formerra," said Arthur Adams, Chief Commercial Officer, GEON. "Our partnership with Formerra will expand our global footprint and enable us to distribute medical-grade engineered polymers to even more customers." With the addition of Foster, LLC compounds to its portfolio, Formerra further deepens its leading position in the healthcare space by delivering unmatched access to engineered medical polymers, deep regulatory expertise, and responsive logistics across the Americas. Key details --Formerra will distribute Foster®, LLC medical compounds in North and South America.--This agreement adds custom medical-grade compounds to Formerra's existing global access to GEON® PVC and filled PP materials.--Foster®, LLC material applications include medical device housings, drug-delivery and auto-injectors, surgical tools, remote patient monitoring components, and more. About Formerra Formerra is a preeminent distributor of engineered materials, connecting the world's leading polymer producers with thousands of OEMs and brand owners across healthcare, consumer, industrial, and mobility markets. Powered by technical and commercial expertise, it brings a distinctive combination of portfolio depth, supply chain strength, industry knowledge, service, leading e-commerce capabilities, and ingenuity. The experienced Formerra team helps customers across multiple industries to design, select, process, and develop products in new and better ways - driving improved performance, productivity, reliability, and sustainability. To learn more, visit About GEON GEON® Performance Solutions is a global leader in the formulation, development and manufacture of performance polymer solutions. With a portfolio of highly adaptable vinyl and polyolefin polymer technologies as well as a full-service manufacturing business, GEON combines three powerful traditions into a single, customer-focused business. GEON Performance Solutions is a leading innovator in the development of performance material solutions for a broad range of markets including appliances, building & infrastructure, electronics, medical, transportation, power & communications and more. GEON Performance Solutions has approximately 1,200 global associates and 15 world-class manufacturing plants with headquarters in Westlake, Ohio. Please visit us at to learn more. GEON Performance Solutions is a portfolio company of SK Capital Partners. Media Contact Jackie MorrisMarketing Communications Manager, SOURCE: Formerra View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Sport
- Yahoo
Former NFL defensive lineman Oliver Gibson dies at 53
Oliver Gibson, who played defensive tackle in the NFL from 1995 to 2003, has died at the age of 53. Gibson was born and raised in Romeoville, Illinois, and in 1989 USA Today named him the high school defensive player of the year for his exploits at Romeoville High School. He played his college football at Notre Dame and was a fourth-round pick of the Steelers in 1995. After four years with the Steelers, Gibson signed with the Bengals in 1999, and played four more NFL seasons in Cincinnati. In 2015, Gibson was hired as head coach at Romeoville High.
Yahoo
02-07-2025
- Sport
- Yahoo
Former NFL Veteran Dead Suddenly At 53
Former NFL Veteran Dead Suddenly At 53 originally appeared on The Spun. The football world lost yet another former defensive lineman in the span of several days. Last week saw the passing of former All-Pro defensive end Gerry Philbin, who died at 83 and enjoyed prolific career as a member of the New York Jets from 1964-1972— and now a more recent D-lineman has also transitioned. Advertisement Over the weekend, ex-Steelers/Bengals DT Oliver Gibson reportedly passed away at the age of 53. Gibson spent nine seasons in the NFL as a former fourth-round pick out of Notre Dame and was one of the more underrated pieces to those menacing "Blitzburgh" defenses of the '90s. The Romeoville, IL native was named USA Today's High School Defensive Player of the Year and a Parade Magazine All-American back in 1989 before parlaying that into a scholarship to South Bend and a near-decade long professional career. After his playing days, Gibson returned to his hometown where he took the head coaching job Romeoville High School starting in 2015. Advertisement Gibson appeared in 133 games with 57 starts across his nine years in the National Football League where he recorded 243 tackles, 17.5 sacks, 37 tackles for loss and batted down 10 passes. The 304-pound defensive tackle was also a part of Pittsburgh's 1995 Super Bowl team as a rookie, an accomplishment he relayed to the youth from his home area when he arrived back at Romeoville. Jan 23, 1996; Tempe, AZ, USA; FILE PHOTO; Pittsburgh Steelers defensive tackle (98) Oliver Gibson during media day of Super Bowl XXX at Sun Devil Stadium. Mandatory Credit: Photo By Imagn Images © Copyright Imagn Images© RVR Photos-Imagn Images 'When I talk to the kids, I tell them that everything that they've been through, I've been through. And everywhere that you want to go from Romeoville, you can do it," Gibson said at the time. May he rest in peace. Advertisement Related: Taylor Fritz's Girlfriend Turning Heads At Wimbledon Monday Former NFL Veteran Dead Suddenly At 53 first appeared on The Spun on Jul 1, 2025 This story was originally reported by The Spun on Jul 1, 2025, where it first appeared.
CBS News
27-05-2025
- General
- CBS News
Chicago area university helping to solve nation's air traffic controller shortage
As the nation grapples with a shortage of air traffic controllers, Transportation Secretary Sean Duffy is now offering new incentives for older controllers to stay on the job longer. At the same time, one Romeoville university is getting future controllers ready for takeoff faster. At Lewis University, innovation is taking off during their regular summer break; construction that will allow them to grow and help fill the gaps in the country's shortage of air traffic controllers. "I'm not throwing any hammers and nails, but I will watch what they're doing, just to ensure that we get what we asked for," said Michael Julias, director of the Air Traffic Controller Program at Lewis University. Julias, a former air traffic controller, worked at "97 facilities, two centers, two approach controls, and five towers." "I have a very thorough understanding of the job, yes," he said. He now will oversee Lewis University's enhanced air traffic controller program when classes resume on Aug. 25. "This is the type of job that will take you 3 to 4 months to get through the academy, and then possibly another 2 to 3 years to certify, depending on where you're going. So it's a process," he said. Once Lewis gets that enhanced program started, it will be only the seventh facility in the country to offer one, and it could allow students to skip the FAA academy in Oklahoma City. That's where recent graduate Alex Bryjak is headed to in the fall. "The simulations were definitely a bigger challenge than I expected. I mean, it's a very high-stress job, and the program here has pushed me to limits that I didn't know I had," he said. Bryjak said, given the time and training he's had, he's ready for a career overlooking airfields. Staff at Lewis University said they have about 10-15 air traffic control students now, but expect that number to double or triple as they grow the enhanced program.
