The accounting restatement and NT 10-Q add uncertainty; monitor the company's next 10-Q for restated historicals and internal control remediation. The strong second-half revenue guidance ($35M) and rising order book ($64.9M) could provide a near-term catalyst if followed by execution in Q3.
Price Chart
Executive Summary
Solsence reported Q2 2026 revenue of $15.3M, down 25% YoY from $20.4M which included a major product launch and pipeline fill, and swung to a net loss of $158K vs net income of $3.2M a year ago. The company disclosed a restatement to correct historical inventory costing methodology, filed a late Form NT 10-Q, and expects to report a full-year 2025 revenue outperformance with second-half 2026 revenue of ~$35M. The revenue decline and accounting restatement are bearish, partially offset by strong second-half guidance.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $15.3M vs $20.4M YoY (-25%), due to prior-year product launch boost
- Net loss of $158K vs net income of $3.2M YoY
- Gross margin 31% vs 32% YoY, adjusted EBITDA $523K vs $3.7M YoY
- Inventory costing restatement; NT 10-Q was filed for Q2 2026
- Management expects to outperform FY2025 revenue; H2 2026 revenue projected ~$35M (strongest H2 in history)
- Shipped and on-hand orders as of Aug 17: $64.9M (up from $60.0M in same period 2025)
Financial Impact
Revenue declined 25% YoY; net income swung from +$3.2M to -$158K; adjusted EBITDA fell from $3.7M to $523K
Risk Factors
- Inventory costing restatement could reveal additional issues or delay filings
- Revenue recovery dependent on new product launches and co-marketing initiatives
- High leverage from related-party debt (~$14.3M total) with significant current maturities
- Market cap of only $66M implies high volatility risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-005676 |
| Exhibit: exh_992.htm | 0001171843-26-005676 |
| Document: f8k_082026.htm | 0001171843-26-005676 |
| Document: 0001171843-26-005676-index-headers.html | 0001171843-26-005676 |
| Document: 0001171843-26-005676-index.html | 0001171843-26-005676 |
| Document: 0001171843-26-005676.txt | 0001171843-26-005676 |
| 8-K Data (Synthetic) | 0001171843-26-005676 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 8-K | $0.8000 | awaiting T+20 | — | $0.7700 (−3.75%) |
Aug 21, 2026 9w ago | 8-K | $0.9500 $0.8141 | ▲ +14.31% | ▲ +13.78% | $0.7700 (+18.95%) |
Aug 20, 2026 9w ago | 8-K | $0.9907 $0.8036 | ▲ +18.89% | ▲ +18.89% | $0.7700 (+22.28%) |
Aug 19, 2026 9w ago | Press Release | $0.9907 $0.8036 | ▲ +18.89% | ▲ +18.89% | $0.7700 (+22.28%) |
Aug 10, 2026 11w ago | Press Release | $1.02 | awaiting T+20 | — | $0.7700 (−24.51%) |
Jul 28, 2026 12w ago | Press Release | $0.9300 $0.9499 | ▲ +2.14% | ▼ −2.88% | $0.7700 (−17.20%) |
Jul 10, 2026 15w ago | 8-K | $0.6790 $1.04 | ▲ +52.43% | ▲ +49.25% | $0.7700 (+13.40%) |
May 12, 2026 23w ago | 8-K | $1.24 $1.12 | ▲ +9.68% | ▲ +7.95% | $0.7700 (+37.90%) |
May 12, 2026 23w ago | Press Release | $1.24 $1.12 | ▲ +9.68% | ▲ +7.95% | $0.7700 (+37.90%) |
Apr 28, 2026 25w ago | Press Release | $1.30 $1.32 | ▲ +1.54% | ▼ −4.51% | $0.7700 (−40.77%) |
US Market Status
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