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Nanophase Technologies Corporation (NANX) is a health-oriented, science-driven company that operates primarily in the beauty and life sciences markets. The company focuses on the development, manufacturing, and sale of skin health products and advanced materials. NANX sells prestige skin care products with mineral-based UV protection and advanced materials used in various industrial applications.
- Solésence® - Develops and markets prestige skin care products with mineral-based UV protection, leveraging proprietary technologies to enhance product performance and aesthetics.
- Personal Care Ingredients - Provides active pharmaceutical ingredients for manufacturers of sunscreens and daily care products.
- Advanced Materials - Supplies products for architectural coatings, industrial coating applications, abrasion-resistant additives, plastics additives, and surface finishing technologies.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jess A. Jankowski Executive | President, CEO, CFO | Advisory Board Member, Nanobusiness Commercialization Association | Joined NANX in 1995. Held multiple financial and leadership roles before becoming CEO. Extensive experience in operations, business development, and finance. | View Report → |
Kevin Cureton Executive | Chief Operating Officer | None | Joined NANX in 2012. Previously VP of Sales, Marketing, and Business Development. Promoted to COO in 2019. Over 20 years of experience in the chemical industry, particularly in personal care. | |
Laura M. Beres Board | Director | VP, Merchandising, Strategy & Growth at Ulta Beauty; Board Member, Chicago Youth Symphony Orchestras | Joined NANX Board in 2020. Extensive experience in corporate strategy and operations, particularly in retail and consumer industries. Leads strategic initiatives at Ulta Beauty. | |
Mark E. Miller Board | Director | None | Joined NANX Board in 2023. Former President and COO of Nagase Specialty Materials NA LLC. Over 36 years of leadership experience in specialty materials and chemicals, particularly in personal care and pharma sectors. | |
R. Janet Whitmore Board | Chair of the Board of Directors | None | Joined NANX Board in 2003. Former Mobil Corporation executive with expertise in finance and engineering. Founder of Benton Consulting, LLC. |
- You mentioned the potential to achieve 40% gross margins through operational improvements; what specific operational challenges could prevent you from reaching this target, and how do you plan to address them?
- With your current capacity positioned to handle over $100 million in sales, what are the bottlenecks in production that might hinder scaling up, and what investments are needed to meet the growing demand in 2025?
- As you consider expanding into higher-volume, lower-cost markets, how will this strategy impact your profit margins and brand positioning, and what measures are you taking to maintain high-quality growth?
- Given the risks of tariffs affecting your supply chain from China, how confident are you in your diversified supply sources, and what remaining vulnerabilities exist in your procurement strategy?
- Considering the discussion around uplisting to a major exchange to improve liquidity and access to capital, what concrete steps are you taking toward this goal, and what challenges might delay this process?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Customer #1 | Largest consumer products customer | Consumer Products | Revenue: $16.8 million (32%) ; A/R (12/31/24): $2.4 million. |
BASF Corporation | Long-term exclusive supply agreement for nano-scale zinc oxide | Personal Care Ingredients | Revenue: $6.8 million (13%) ; A/R (12/31/24): $0.16 million. |
Customer #3 | Consumer products customer | Consumer Products | Revenue: $3.7 million (7%) ; A/R (12/31/24): $0.31 million. |
Recent press releases and 8-K filings for NANX.
- Solésence, Inc. secured approval to transfer its listing from OTCQB to the Nasdaq Capital Market, with trading set to begin on April 8, 2025, under the new ticker SLSN.
- Shareholders are not required to take any action as the uplisting is expected to boost the company's visibility and investor base.
- Achieved record net profit with Q4 revenue of $12.6 million—a 57% YoY increase—and improved gross margins (22% in Q4, 31% for the full year).
- Expanded operational capacity by enhancing batch production at its Bolingbrook facility, supporting over $200 million in annual consumer product sales and doubling unit production versus Q4 2023.
- Announced strategic initiatives including a rebranding to Solesence, plans for a Nasdaq uplisting in 2025, and investments in product innovations such as the award-winning Au Lait Face Milk SPF 50+.
- Q4 2024 performance: Revenue increased 57.5% to a record $12.6 million with gross profit reaching $2.8 million and an improved gross margin of 22% compared to the previous year.
- Full-year results: Annual revenue surged 40% to $52.3 million, with net income turning positive at $4.2 million following a net loss in the prior year.
- Operational highlights: The company expanded its production capabilities at the Bolingbrook facility and significantly increased unit production volume, while launching over two dozen new SKUs to enhance its customer mix.