Solesence Q1 revenue falls 11%, posts net loss
Solesence SLSN | 0.00 |
Overview
US health care solutions firm's Q1 revenue declined yr/yr, net loss reported
Gross margin rose to 26% from 23% on operational excellence efforts
Investments in restructuring and training improved efficiency but pressured profitability
Outlook
Company expects improved operational and financial results as the year progresses
Company anticipates benefits from efficiency gains and reduced labor costs
Solésence continues to advance its Transform and Transcend strategic initiative
Result Drivers
OPERATIONAL EXCELLENCE - Co said disciplined execution of its operational excellence initiative improved gross margin
RESTRUCTURING AND TRAINING - Investments in operational infrastructure, including employee training and organizational restructuring, improved efficiency and reduced labor costs but pressured profitability, per CFO Laura Riffner
NEW TECHNOLOGY COMMERCIALIZATION - Commercialization of new platform technologies expanded OTC claims
Company press release: ID:nGNX5VJXYZ
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Revenue |
|
$13 mln |
|
Q1 EPS |
|
-$0.01 |
|
Q1 Net Income |
|
-$766,000 |
|
Q1 Adjusted EBITDA |
|
-$107,000 |
|
Q1 Gross Profit |
|
$3.34 mln |
|
Q1 Pretax Profit |
|
-$766,000 |
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