NEXGEL, INC.
Business
NEXGEL, INC. manufactures high‑water‑content, electron‑beam cross‑linked aqueous polymer hydrogels for wound care, diagnostics, transdermal drug delivery and cosmetics. It supplies custom gels as bulk roll stock and finished hydrogel patches and dressings, and develops medical device prototypes such as NEXDrape and NEXDerm. Business is organized into contract manufacturing, consumer branded products (MedaGel, Kenkoderm, Silly George), custom and white‑label services, and medical device development. Products are sold in the United States and abroad through contract customers, direct‑to‑consumer channels and white‑label partners, supported by a packaging joint venture.
Summary from filing dated 2025-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues, net | 11 | 9 | 4 | 2 | — | |
| Cost of revenues | 7 | 6 | 4 | 2 | 2 | |
| Gross profit | 5 | 3 | 374,000 | 256,000 | 8,000 | |
| Research and development | 2,000 | 78,000 | 103,000 | 367,000 | 31,000 | |
| Selling, general and administrative | 8 | 6 | 4 | 3 | 3 | |
| Total operating expenses | 8 | 6 | 4 | 4 | 3 | |
| Loss from operations | −3 | −4 | −3 | −3 | −3 | |
| Change in fair value of warrant liability, net of warrant modification expense | 118,000 | 28,000 | 96,000 | 76,000 | 8,000 | |
| Realized gain on investments in marketable securities | — | 68,000 | 191,000 | 9,000 | — | |
| Interest expense, net | −34,000 | −81,000 | −15,000 | — | — | |
| Change in fair value of contingent consideration | — | −18,000 | — | — | — | |
| Gain in spin-off of NexGelRx | 162,000 | — | — | — | — | |
| Other expense | −73,000 | −4,000 | −2,000 | — | — | |
| Other income | 286,000 | 98,000 | 19,000 | 3,000 | — | |
| Total other income (expense), net | 459,000 | 91,000 | 289,000 | −1 | −2 | |
| Loss before income taxes | −3 | −3 | −3 | −5 | — | |
| Income tax expense | — | — | — | — | — | |
| Net loss | −3 | −3 | −3 | −5 | — | |
| Less: Loss attributable to non-controlling interest in joint venture | −107,000 | 182,000 | 31,000 | — | — | |
| Net loss attributable to NexGel stockholders | −3 | −3 | −3 | −5 | −4 | |
| Net loss per common share - basic | −0.38 | −0.5 | −0.56 | −0.85 | −1.45 | |
| Net loss per common share - diluted | −0.38 | −0.5 | −0.56 | −0.85 | −1.45 | |
| Weighted average shares used in computing net loss per common share - basic | 8 | 7 | 6 | 6 | 3 | |
| Weighted average shares used in computing net loss per common share - diluted | 8 | 7 | 6 | 6 | 3 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash | 317,000 | 2 | 3 | 1 | 13 | |
| Restricted cash | 741,000 | — | — | — | — | |
| Accounts receivable, net | 673,000 | 933,000 | 633,000 | 222,000 | 209,000 | |
| Inventory | 2 | 2 | 1 | 502,000 | 291,000 | |
| Prepaid expenses and other current assets | 496,000 | 623,000 | 400,000 | 172,000 | 77,000 | |
| Total current assets | 4 | 5 | 5 | 8 | 14 | |
| Goodwill | 1 | 1 | 1 | 311,000 | 311,000 | |
| Intangibles, net | 681,000 | 807,000 | 326,000 | 20,000 | 33,000 | |
| Property and equipment, net | 2 | 2 | 1 | 721,000 | 723,000 | |
| Operating lease - right of use asset | 2 | 2 | 2 | 2 | 2 | |
| Investment in NexGelRx | 249,000 | — | — | — | — | |
| Other assets | 95,000 | 95,000 | 95,000 | 63,000 | 63,000 | |
| Total assets | 10 | 11 | 10 | 10 | 17 | |
| Accrued expenses and other current liabilities | 460,000 | 310,000 | 398,000 | 130,000 | 62,000 | |
| Deferred revenue | 2,000 | 179,000 | 20,000 | — | — | |
| Current portion of note payable | 99,000 | 97,000 | 80,000 | 15,000 | — | |
| Partnership accrued advance | 731,000 | — | — | — | — | |
| Warrant liability and contingent consideration liability | — | 296,000 | — | — | — | |
| Current portion of finance lease liability | 65,000 | 59,000 | — | — | — | |
| Current portion of operating lease liability | 310,000 | 237,000 | 233,000 | 207,000 | 207,000 | |
| Total current liabilities | 3 | 2 | 3 | 859,000 | 3 | |
| Operating lease liability, net of current portion | 2 | 2 | 2 | 2 | 2 | |
| Finance lease liability, net of current portion | 242,000 | 307,000 | — | — | — | |
| Notes payable, net of current portion | 489,000 | 588,000 | 513,000 | 268,000 | 266,000 | |
| Total liabilities | 6 | 5 | 5 | 3 | 5 | |
| Commitments and Contingencies (Note 18) | — | — | — | — | — | |
| Preferred stock, par value $0.001 per share, 5,000,000 shares authorized, no shares issued and outstanding | — | — | — | — | — | |
| Common stock, par value $0.001 per share, 25,000,000 shares authorized; 8,143,133 and 7,638,497 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 8,000 | 8,000 | 6,000 | 6,000 | 6,000 | |
| Additional paid-in capital | 25 | 24 | 19 | 19 | 19 | |
| Accumulated deficit | −21 | −18 | −15 | −12 | −7 | |
| Total NexGel stockholders equity | 4 | 6 | 5 | 8 | 12 | |
| Non-controlling interest in joint venture | 432,000 | 325,000 | 469,000 | — | — | |
| Total stockholders equity | 5 | 6 | 5 | 8 | 12 | |
| Total liabilities and stockholders equity | 10 | 11 | 10 | 10 | 17 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 450,000 | 436,000 | 226,000 | 112,000 | 113,000 | |
| Share-based compensation | 654,000 | 367,000 | 217,000 | 298,000 | 285,000 | |
| Realized gain on investment in marketable securities | — | −68,000 | −191,000 | −9,000 | — | |
| Change in fair value of warrant liability | −118,000 | −28,000 | −125,000 | −133,000 | −8,000 | |
| Amortization of right of use asset | 290,000 | 227,000 | 217,000 | 189,000 | — | |
| Accounts receivable, net | 260,000 | −300,000 | −411,000 | −13,000 | −137,000 | |
| Inventory | −360,000 | −432,000 | −760,000 | −211,000 | −58,000 | |
| Prepaid expenses and other current assets | 127,000 | −223,000 | −260,000 | −95,000 | 63,000 | |
| Accounts payable | −38,000 | 182,000 | 314,000 | 11,000 | −405,000 | |
| Accounts payable related party | 35,000 | −123,000 | 654,000 | — | — | |
| Accrued expenses and other current liabilities | 150,000 | −434,000 | 22,000 | 74,000 | −18,000 | |
| Partnership advance | 731,000 | — | — | — | — | |
| Deferred revenue | −177,000 | 159,000 | 20,000 | — | −38,000 | |
| Operating lease liability | −260,000 | −185,000 | — | — | — | |
| Net Cash Used in Operating Activities | −1 | −4 | −3 | −3 | −3 | |
| Purchases of equipment | −68,000 | −443,000 | −696,000 | −96,000 | −269,000 | |
| Investment in subsidiary | — | −400,000 | −547,000 | — | — | |
| Proceeds from sales of marketable securities | — | 68,000 | 6 | 2 | — | |
| Net Cash Provided by (Used in) Investing Activities | −68,000 | −775,000 | 4 | −6 | −269,000 | |
| Payment of contingent consideration | −177,000 | −279,000 | — | — | — | |
| Proceeds from rights offering | 963,000 | 4 | — | — | — | |
| Principal payments of notes payable | −97,000 | −77,000 | −6,000 | — | −15,000 | |
| Proceeds from non-controlling interest | — | 38,000 | — | — | — | |
| Principal payment of financing lease liability | −59,000 | −50,000 | — | −151,000 | — | |
| Proceeds from margin line of credit | — | 345,000 | 245,000 | — | — | |
| Net Cash Provided by Financing Activities | 630,000 | 4 | 379,000 | −4 | 16 | |
| Net Increase (Decrease) in Cash (*) | −749,000 | −893,000 | 2 | −12 | 13 | |
| Warrants issued in conjunction with investment in NexgelRx | 87,000 | 200,000 | — | — | — | |
| Additional ROU assets and operating lease liabilities from lease modification | 677,000 | — | — | — | — | |
| Shares issued in conjunction with asset acquisition | — | 200,000 | — | — | — | |
| Property and equipment financed under notes payable | — | 169,000 | — | — | — | |
| Property and equipment financed under financing leases | — | 416,000 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is NEXGEL, INC.'s CIK number?
NEXGEL, INC.'s SEC CIK number is 0001468929 (1468929). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find NEXGEL, INC.'s SEC filings?
All of NEXGEL, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did NEXGEL, INC. last report earnings?
NEXGEL, INC. (NXGLW) most recently filed an earnings 8-K with the SEC on Nov 12, 2025, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-25-021742). This is NEXGEL, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is NEXGEL, INC.'s most recent earnings 8-K?
NEXGEL, INC.'s latest earnings 8-K (Item 2.02) was filed Nov 12, 2025 under accession 0001493152-25-021742. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View NEXGEL, INC.'s latest earnings 8-K →
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