Nexgel Inc Financials
This page shows Nexgel Inc (NXGL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Improving product economics are lifting gross profit, but commercial overhead and shrinking cash buffers still define how the business runs.
Between FY2023 and FY2025, gross margin expanded from9.2% to39.5% , showing the product economics improved materially as sales scaled. But SG&A still outran gross profit in FY2025 at$7.9M versus$4.5M , so the bottleneck has shifted from production to covering the cost of selling and supporting demand.
The gap between net loss and cash burn narrowed in FY2025: operating cash flow was
The balance sheet is becoming less cash-rich and more inventory-backed: cash fell to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Nexgel Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Nexgel Inc has an operating margin of -29.3%, meaning the company retains $-29 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -40.9% the prior year.
Nexgel Inc's revenue surged 31.5% year-over-year to $11.4M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Nexgel Inc carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Nexgel Inc's current ratio of 1.47 is below the typical benchmark, resulting in a score of 25/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Nexgel Inc generated -$1.3M in operating cash flow, capex of $68K consumed most of it, leaving -$1.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Nexgel Inc generates a -67.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -57.0% the prior year.
Nexgel Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Nexgel Inc generates $0.44 in operating cash flow (-$1.3M OCF vs -$3.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Nexgel Inc earns $-98.6 in operating income for every $1 of interest expense (-$3.4M vs $34K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Nexgel Inc generated $11.4M in revenue in fiscal year 2025. This represents an increase of 31.5% from the prior year.
Nexgel Inc's EBITDA was -$2.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.9% from the prior year.
Nexgel Inc reported -$3.0M in net income in fiscal year 2025. This represents an increase of 8.6% from the prior year.
Nexgel Inc earned $-0.38 per diluted share (EPS) in fiscal year 2025. This represents an increase of 24.0% from the prior year.
Cash & Balance Sheet
Nexgel Inc generated -$1.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 68.0% from the prior year.
Nexgel Inc held $317K in cash against $588K in long-term debt as of fiscal year 2025.
Nexgel Inc had 8M shares outstanding in fiscal year 2025. This represents an increase of 6.6% from the prior year.
Margins & Returns
Nexgel Inc's gross margin was 39.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 7.8 percentage points from the prior year.
Nexgel Inc's operating margin was -29.3% in fiscal year 2025, reflecting core business profitability. This is up 11.6 percentage points from the prior year.
Nexgel Inc's net profit margin was -26.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 11.5 percentage points from the prior year.
Nexgel Inc's ROE was -67.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.3 percentage points from the prior year.
Capital Allocation
Nexgel Inc invested $2K in research and development in fiscal year 2025. This represents a decrease of 97.4% from the prior year.
Nexgel Inc invested $68K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 84.7% from the prior year.
NXGL Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.6M-5.3% | $2.8M-4.7% | $2.9M+1.7% | $2.9M+2.8% | $2.8M-7.8% | $3.0M+3.5% | $2.9M+104.2% | $1.4M |
| Cost of Revenue | $1.6M-19.6% | $2.0M+16.9% | $1.7M+4.0% | $1.6M+0.5% | $1.6M-14.9% | $1.9M+6.6% | $1.8M+55.6% | $1.1M |
| Gross Profit | $1.1M+29.4% | $820K-34.0% | $1.2M-1.2% | $1.3M+5.9% | $1.2M+4.2% | $1.1M-1.3% | $1.2M+294.2% | $293K |
| R&D Expenses | $1K | N/A | $7K | N/A | $1K | N/A | N/A | $76K |
| SG&A Expenses | $2.0M-1.0% | $2.0M+4.0% | $2.0M+3.5% | $1.9M-3.6% | $2.0M-0.9% | $2.0M+2.0% | $1.9M+52.9% | $1.3M |
| Operating Income | -$958K+21.1% | -$1.2M-67.4% | -$725K-14.0% | -$636K+18.1% | -$777K+7.6% | -$841K-6.7% | -$788K+25.2% | -$1.1M |
| Interest Expense | $34K | N/A | N/A | N/A | N/A | $16K-20.0% | $20K-33.3% | $30K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$927K+4.4% | -$970K-48.5% | -$653K+1.8% | -$665K+6.6% | -$712K+16.2% | -$850K-22.7% | -$693K+21.7% | -$885K |
| EPS (Diluted) | $-0.11 | N/A | $-0.08+11.1% | $-0.090.0% | $-0.09 | N/A | $-0.11+21.4% | $-0.14 |
NXGL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.6M+10.9% | $10.5M-10.0% | $11.6M+19.7% | $9.7M-7.0% | $10.4M-5.0% | $11.0M+3.9% | $10.6M+8.1% | $9.8M |
| Current Assets | $5.6M+30.0% | $4.3M-22.6% | $5.6M+34.6% | $4.2M-12.2% | $4.7M-7.3% | $5.1M+10.9% | $4.6M+28.5% | $3.6M |
| Cash & Equivalents | $2.1M+569.4% | $317K-66.2% | $938K+29.4% | $725K-39.2% | $1.2M-34.0% | $1.8M+70.6% | $1.1M-0.9% | $1.1M |
| Inventory | $2.3M+7.2% | $2.1M+4.6% | $2.0M+10.9% | $1.8M-1.4% | $1.8M+5.4% | $1.8M-1.5% | $1.8M+23.0% | $1.4M |
| Accounts Receivable | $662K-1.6% | $673K-19.8% | $839K+11.4% | $753K-18.7% | $926K-0.8% | $933K+4.4% | $894K+47.8% | $605K |
| Goodwill | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M+0.4% | $1.1M-0.4% | $1.1M |
| Total Liabilities | $7.1M+27.8% | $5.6M-7.8% | $6.0M+29.8% | $4.7M-4.4% | $4.9M-0.7% | $4.9M-12.2% | $5.6M+6.4% | $5.2M |
| Current Liabilities | $3.3M+12.1% | $3.0M-10.6% | $3.3M+38.1% | $2.4M-4.9% | $2.5M+2.0% | $2.5M-19.0% | $3.0M+15.8% | $2.6M |
| Long-Term Debt | $563K-4.3% | $588K-4.2% | $614K-3.8% | $638K-3.6% | $662K-3.4% | $685K-3.4% | $709K-3.1% | $732K |
| Total Equity | $4.0M-10.4% | $4.5M-14.0% | $5.2M+11.0% | $4.7M-10.3% | $5.2M-9.5% | $5.8M+22.8% | $4.7M+12.5% | $4.2M |
| Retained Earnings | -$21.9M-4.4% | -$21.0M-4.8% | -$20.0M-3.4% | -$19.4M-3.6% | -$18.7M-4.0% | -$18.0M-5.0% | -$17.1M-4.2% | -$16.5M |
NXGL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$504K-279.4% | $281K+135.8% | -$785K-92.9% | -$407K-1.8% | -$400K+53.4% | -$859K+29.4% | -$1.2M-73.7% | -$700K |
| Capital Expenditures | $9K-77.5% | $40K+400.0% | $8K | N/A | N/A | $69K+430.8% | $13K-93.8% | $209K |
| Free Cash Flow | -$513K-312.9% | $241K+130.4% | -$793K | N/A | N/A | -$928K+24.5% | -$1.2M-35.2% | -$909K |
| Investing Cash Flow | -$9K+77.5% | -$40K-400.0% | -$8K | N/A | N/A | -$63K-687.5% | -$8K+98.6% | -$586K |
| Financing Cash Flow | $1.6M+251.5% | -$1.0M-154.0% | $1.9M+4915.0% | -$40K+81.4% | -$215K-112.9% | $1.7M+37.6% | $1.2M+1996.9% | -$64K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NXGL Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.0%+10.7pp | 29.3%-13.1pp | 42.4%-1.2pp | 43.6%+1.3pp | 42.3%+4.9pp | 37.5%-1.8pp | 39.3%+18.9pp | 20.3% |
| Operating Margin | -36.1%+7.3pp | -43.4%-18.7pp | -24.7%-2.7pp | -22.1%+5.6pp | -27.7%-0.0pp | -27.7%-0.9pp | -26.8%+46.4pp | -73.2% |
| Net Margin | -35.0%-0.3pp | -34.7%-12.4pp | -22.3%+0.8pp | -23.1%+2.3pp | -25.4%+2.6pp | -27.9%-4.4pp | -23.6%+37.9pp | -61.5% |
| Return on Equity | -23.2%-1.5pp | -21.8%-9.2pp | -12.6%+1.6pp | -14.2%-0.6pp | -13.7%+1.1pp | -14.8%+0.0pp | -14.8%+6.5pp | -21.2% |
| Return on Assets | -8.0%+1.3pp | -9.3%-3.7pp | -5.6%+1.2pp | -6.9%-0.0pp | -6.8%+0.9pp | -7.7%-1.2pp | -6.6%+2.5pp | -9.0% |
| Current Ratio | 1.70+0.2 | 1.47-0.2 | 1.69-0.0 | 1.74-0.1 | 1.88-0.2 | 2.07+0.6 | 1.51+0.1 | 1.36 |
| Debt-to-Equity | 0.140.0 | 0.13+0.0 | 0.12-0.0 | 0.140.0 | 0.130.0 | 0.12-0.0 | 0.15-0.0 | 0.18 |
| FCF Margin | -19.4%-28.0pp | 8.6%+35.6pp | -27.0% | N/A | N/A | -30.5%+11.3pp | -41.8%+21.3pp | -63.1% |
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Frequently Asked Questions
What is Nexgel Inc's annual revenue?
Nexgel Inc (NXGL) reported $11.4M in total revenue for fiscal year 2025. This represents a 31.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Nexgel Inc's revenue growing?
Nexgel Inc (NXGL) revenue grew by 31.5% year-over-year, from $8.7M to $11.4M in fiscal year 2025.
Is Nexgel Inc profitable?
No, Nexgel Inc (NXGL) reported a net income of -$3.0M in fiscal year 2025, with a net profit margin of -26.3%.
What is Nexgel Inc's EBITDA?
Nexgel Inc (NXGL) had EBITDA of -$2.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Nexgel Inc have?
As of fiscal year 2025, Nexgel Inc (NXGL) had $317K in cash and equivalents against $588K in long-term debt.
What is Nexgel Inc's gross margin?
Nexgel Inc (NXGL) had a gross margin of 39.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nexgel Inc's operating margin?
Nexgel Inc (NXGL) had an operating margin of -29.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Nexgel Inc's net profit margin?
Nexgel Inc (NXGL) had a net profit margin of -26.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Nexgel Inc's return on equity (ROE)?
Nexgel Inc (NXGL) has a return on equity of -67.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Nexgel Inc's free cash flow?
Nexgel Inc (NXGL) generated -$1.4M in free cash flow during fiscal year 2025. This represents a 68.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Nexgel Inc's operating cash flow?
Nexgel Inc (NXGL) generated -$1.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Nexgel Inc's total assets?
Nexgel Inc (NXGL) had $10.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Nexgel Inc's capital expenditures?
Nexgel Inc (NXGL) invested $68K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Nexgel Inc spend on research and development?
Nexgel Inc (NXGL) invested $2K in research and development during fiscal year 2025.
What is Nexgel Inc's current ratio?
Nexgel Inc (NXGL) had a current ratio of 1.47 as of fiscal year 2025, which is considered adequate.
What is Nexgel Inc's debt-to-equity ratio?
Nexgel Inc (NXGL) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nexgel Inc's return on assets (ROA)?
Nexgel Inc (NXGL) had a return on assets of -28.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Nexgel Inc's cash runway?
Based on fiscal year 2025 data, Nexgel Inc (NXGL) had $317K in cash against an annual operating cash burn of $1.3M. This gives an estimated cash runway of approximately 3 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Nexgel Inc's Piotroski F-Score?
Nexgel Inc (NXGL) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Nexgel Inc's earnings high quality?
Nexgel Inc (NXGL) has an earnings quality ratio of 0.44x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Nexgel Inc cover its interest payments?
Nexgel Inc (NXGL) has an interest coverage ratio of -98.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Nexgel Inc?
Nexgel Inc (NXGL) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.