The company maintains a vulnerable capital structure with $22.3 million in total debt and an accumulated deficit of $99.4 million as of 2026Q1, which continues to weigh heavily on equity.
| Total Current Assets | 26.41M | 28.78M | 29.35M | 16.3M | 16.63M | 11.6M |
| Cash & Short-Term Investments | 573K | 1.29M | 1.41M | 1.72M | 2.19M | 657K |
| Cash Only | 573K | 1.29M | 1.41M | 1.72M | 2.19M | 657K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 6.38M | 6.84M | 4.87M | 3.47M | 4.73M | 3.94M |
| Days Sales Outstanding | 51.33 | 40.2 | 33.95 | 33.93 | 46.3 | 48.75 |
| Inventory | 17.56M | 18.51M | 20.27M | 10.03M | 8.84M | 6.09M |
| Days Inventory Outstanding | 153.68 | 146.76 | 204.58 | 124.23 | 111.41 | 107.03 |
| Other Current Assets | 1.9M | 2.14M | 2.8M | 1.08M | 866K | 0 |
| Total Non-Current Assets | 21.38M | 21.28M | 20.65M | 16.58M | 16.93M | 16.8M |
| Property, Plant & Equipment | 21.34M | 6.91M | 20.65M | 16.57M | 16.93M | 16.79M |
| Fixed Asset Turnover | 3.42x | 8.98x | 2.53x | 2.25x | 2.20x | 1.76x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 37K | 14.37M | 3K | 4K | 6K | 8K |
| Total Assets | 47.79M | 50.05M | 50M | 32.88M | 33.56M | 28.39M |
| Asset Turnover | 1.14x | 1.24x | 1.05x | 1.13x | 1.11x | 1.04x |
| Asset Growth % | 43.07% | 0.11% | 52.07% | -2.02% | 18.19% | - |
| Total Current Liabilities | 12.69M | 13.93M | 25.77M | 15.59M | 13.84M | 7.34M |
| Accounts Payable | 4.67M | 4.39M | 10.69M | 6.39M | 6.77M | 3.89M |
| Days Payables Outstanding | 42.71 | 34.81 | 107.91 | 79.11 | 85.28 | 68.24 |
| Short-Term Debt | 4.34M | 4.77M | 5M | 4.81M | 4.28M | 1.35M |
| Deferred Revenue (Current) | 4.26M | 930K | 5.57M | 2.35M | 2.23M | 905K |
| Other Current Liabilities | 2.51M | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 2.08x | 2.07x | 1.14x | 1.05x | 1.20x | 1.58x |
| Quick Ratio | 0.70x | 0.74x | 0.35x | 0.40x | 0.56x | 0.75x |
| Cash Conversion Cycle | 162.3 | 152.16 | 130.62 | 79.05 | 72.43 | 87.55 |
| Total Non-Current Liabilities | 18.14M | 18.49M | 9.28M | 15.39M | 14.07M | 13.59M |
| Long-Term Debt | 10.5M | 10.5M | 0 | 6M | 4M | 1M |
| Capital Lease Obligations | 31.86M | 7.8M | 9.04M | 9.15M | 9.82M | 11.71M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 196K | 194K | 246K | 238K | 230K | 222K |
| Total Liabilities | 30.83M | 32.42M | 35.06M | 30.98M | 27.91M | 20.93M |
| Total Debt | 22.28M | 24.32M | 15.3M | 21.26M | 18.11M | 14.75M |
| Net Debt | 21.71M | 23.03M | 13.89M | 19.54M | 15.92M | 14.09M |
| Debt / Equity | 1.31x | 1.38x | 1.02x | 11.18x | 3.20x | 1.98x |
| Debt / EBITDA | 12.43x | 9.85x | 2.52x | - | - | 4.90x |
| Net Debt / EBITDA | 12.11x | 9.33x | 2.29x | - | - | 4.68x |
| Interest Coverage | 0.80x | 1.69x | 7.66x | -4.23x | -5.91x | 3.04x |
| Total Equity | 16.97M | 17.63M | 14.95M | 1.9M | 5.65M | 7.46M |
| Equity Growth % | 96.03% | 17.98% | 685.8% | -66.33% | -24.33% | - |
| Book Value per Share | 0.24 | 0.24 | 0.23 | 0.04 | 0.12 | 0.16 |
| Total Shareholders' Equity | 16.97M | 17.63M | 14.95M | 1.9M | 5.65M | 7.46M |
| Common Stock | 706K | 706K | 700K | 496K | 493K | 489K |
| Retained Earnings | -99.4M | -98.64M | -100.43M | -104.66M | -100.07M | -97.45M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and working capital
As reported in quarterly financial statements, Solesence's cash position has dwindled to just $573,000 as of 2026Q1, representing a significant decline from the $4.1 million peak observed in 2025Q2, which leaves the company with minimal financial flexibility to navigate potential operational disruptions or working capital volatility.
The rapid depletion of cash reserves suggests that the company's operating model is currently unable to self-fund its growth requirements. Investors should monitor whether this liquidity constraint necessitates dilutive financing, as the current cash balance provides a very narrow margin of safety against the company's ongoing cash burn.
Based on the company's reported figures, the debt-to-equity ratio has stabilized at 1.31 as of 2026Q1, a notable improvement from the extreme 11.18 level seen in 2023Q4, yet the absolute debt load of $22.3 million remains substantial relative to the company's limited cash and thin operating margins.
While the reduction in leverage appears positive on the surface, the reliance on debt to support a business with negative net margins warrants caution. The debt structure may limit the company's ability to invest in necessary R&D or capacity expansion without further straining its already fragile balance sheet.
According to recent balance sheet data, net property, plant, and equipment accounts for $21.3 million of the company's $47.8 million in total assets, indicating that Solesence remains a capital-intensive operation that requires constant reinvestment to maintain its specialized nanomaterial manufacturing capabilities and competitive technical moat.
The high concentration of assets in PPE suggests that the company is structurally tethered to its physical production facilities, which limits its ability to pivot toward an asset-light model. This asset mix implies that any decline in manufacturing throughput could lead to significant underutilization of capacity and potential impairment risks.
As indicated by historical financial filings, the company's equity base remains severely constrained by an accumulated deficit of $99.4 million as of 2026Q1, which underscores the long-term challenges the firm has faced in achieving sustained profitability despite its strategic pivot toward the beauty and skincare segment.
The persistent negative retained earnings suggest that the company has historically struggled to convert its technological innovations into consistent shareholder value. This structural deficit may limit the company's ability to attract traditional equity financing and highlights the ongoing difficulty in achieving the scale necessary to offset its high fixed-cost base.
Quick answers to the most common questions about buying SLSN stock.
As of 2025, Solesence, Inc. Common Stock (SLSN) had total assets of $50.1M including $28.8M in current assets.
Solesence, Inc. Common Stock (SLSN) carries total debt of $24.3M, offset by $1.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Solesence, Inc. Common Stock (SLSN) has total shareholders' equity (book value) of $17.6M ($0.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Solesence, Inc. Common Stock (SLSN) reported a current ratio of 2.07x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.