Business

Nanophase reports record revenue

Posted August 17, 2022 11:00 pm

ROMEOVILLE - Nanophase Technologies Corp., a company whose minerals-based products are used in the beauty and life science industries, reported its second consecutive quarter of record financial results.

The company said revenue in its fiscal year second quarter was $11.2 million.

Nanophase's Solésence business was a main driver, with revenue up 44% year over year, the company said. Solésence is used in skin care and sunblock products. The company's Active Pharmaceutical Ingredients (API) sales were up 79%, it said.

"We are pleased to see a second consecutive quarter of record growth as our Q2 revenues top $11.2 million, driven largely by our Solésence business," said Jess Jankowski, chief executive officer. "As sun care permeates beauty categories to become a daily and year-round part of consumers' lives, our brand partners are seeing great success with products that cross into both skin care and cosmetics categories. "

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