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Nanophase Technologies Corp, traded as NANX on the OTC market, is a leading provider of nanomaterial technologies. Established in 1989, the company specializes in manufacturing and distributing engineered nanomaterials for various industries like surface finishing, coatings, personal care, plastics, and textiles. Headquartered in Romeoville, Illinois, Nanophase has manufacturing facilities in Burr Ridge, Illinois, certified under ISO standards. With a focus on customer applications, Nanophase continues to innovate and integrate nanotechnologies for commercial use.
Nanophase Technologies Corporation (OTCQB: NANX) reported a 27% year-over-year growth in revenue, totaling $37.3 million for the full year 2022, up from $29.5 million in 2021. The fourth quarter revenue reached $8.3 million, a 12% increase compared to the same period last year. Notable segments included Solésence revenue, which rose to $23.1 million, and Active Pharmaceutical Ingredients (API) which saw a 44% increase to $11.1 million. Despite these gains, the company reported a net loss of $2.6 million for the year, primarily due to atypical expenses and infrastructure challenges. However, they achieved recognition as one of Fast Company’s World’s Most Innovative Companies in 2023.
Nanophase Technologies Corporation (OTCQB: NANX) has announced the release of its Fourth Quarter and Year-End 2022 financial results, scheduled for after market close on March 29, 2023. A conference call will follow on March 30, 2023, at 10:00 a.m. CDT, led by President & CEO Jess Jankowski and COO Kevin Cureton. Interested participants must register at a provided link to receive dial-in details. The company specializes in minerals-based health care solutions, particularly in beauty and life sciences, leveraging patented technologies to enhance consumer health.
Nanophase Technologies Corporation (OTCQB: NANX) announced that its subsidiary, Solésence Beauty Science, will debut at MakeUp in Los Angeles on February 16-17, 2023. This event will feature the launch of the "Beauty Now" program, promoting a quick path to market for skincare brands with a selection of SPF-infused products. Solésence will showcase its full range of white label beauty products, including new formulations like Lip Oil SPF 40+ and Soft Glow SPF 50+. The launch aims to establish a rapid footprint in the growing beauty market, combining innovative mineral-based technology with effective UV protection.
Nanophase Technologies Corporation (OTCQB: NANX) reported $9.7 million in Q3 revenue, a 22% increase year-over-year. The company saw significant growth in Beauty Science, with Solésence revenue rising 39% and Personal Care Ingredients up 61%. Despite a loss of $0.75 million due to investments and cyber theft, the total nine-month revenue reached $29.1 million, a 31% increase versus 2021. Management projects improved margins and ongoing strong demand in the beauty industry as they adapt operations for growth.
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