NexGel Warrant (NXGLW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NXGLW SEC filings page.
NexGel, Inc Warrant (NXGLW) reported $11.4M in revenue for fiscal year 2025, up 31.5% from the prior fiscal year. This page shows its 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).
Revenue growth is producing gross-margin expansion, but rising overhead means operating losses remain despite better economics.
From FY2023 to FY2025, revenue rose179.3% while gross profit rose1105.6% , revealing a much better unit-economics profile. But FY2025 operating loss was$3.35M while SG&A consumed68.8% of revenue, so margin gains are being absorbed by overhead rather than converted into operating earnings.
FY2025 operating cash flow was
Current ratio fell from 2.1x in FY2024 to 1.5x in FY2025, showing less short-term balance-sheet flexibility. Meanwhile, inventory rose
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of NexGel, Inc Warrant'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 Warrant held $317K in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $1.3M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and NexGel, Inc Warrant scores 13/100 among other emerging companies.
NexGel, Inc Warrant had 8M shares outstanding at the end of fiscal year 2025, against 8M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and NexGel, Inc Warrant scores 39/100 among other emerging companies.
NexGel, Inc Warrant spent $2K on research and development in fiscal year 2025, which was 0.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and NexGel, Inc Warrant scores 2/100 among other emerging companies.
NexGel, Inc Warrant reported revenue of $11.4M in fiscal year 2025, against $8.7M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and NexGel, Inc Warrant scores 83/100 among other emerging companies.
NexGel, Inc Warrant's operations used $1.3M of cash in fiscal year 2025, against $3.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and NexGel, Inc Warrant scores 78/100 among other emerging companies.
NexGel, Inc Warrant's cash, cash equivalents and investments came to $317K at the end of fiscal year 2025, against $5.6M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and NexGel, Inc Warrant scores 12/100 among other emerging companies.
NexGel, Inc Warrant 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.
NexGel, Inc Warrant reported a net loss of $3.0M while operations used $1.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
NexGel, Inc Warrant reported an operating loss of $3.4M against $34K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
NexGel, Inc Warrant generated $3.7M in revenue in Q2 2026. This represents an increase of 27.8% from the same quarter a year earlier. Against the prior quarter it is up 39.1%.
NexGel, Inc Warrant's EBITDA was -$1.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
NexGel, Inc Warrant reported a net loss of $3.6M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
NexGel, Inc Warrant earned -$0.40 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
NexGel, Inc Warrant held $1.7M in cash against $3.1M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
NexGel, Inc Warrant's gross margin was 30.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 13.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.9 percentage points.
NexGel, Inc Warrant's operating margin was -68.0% in Q2 2026, reflecting core business profitability. This is down 45.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 31.8 percentage points.
NexGel, Inc Warrant's net profit margin was -98.6% in Q2 2026, showing the share of revenue converted to profit. This is down 75.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 63.6 percentage points.
NexGel, Inc Warrant's quarterly ROE was -73.5% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 59.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 50.2 percentage points.
Capital Allocation
NexGel, Inc Warrant invested $20K in research and development in Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
NXGLW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.7M+27.8% | $2.6M-5.6% | $2.8M-8.1% | $2.9M-0.2% | $2.9M+100.3% | $2.8M+121.6% | $3.0M+181.4% | $2.9M+140.8% |
| Cost of Revenue | $2.6M+58.5% | $1.6M-1.8% | $2.0M+3.9% | $1.7M-5.3% | $1.6M+41.8% | $1.6M+46.3% | $1.9M+62.7% | $1.8M+103.5% |
| Gross Profit | $1.1M-11.8% | $1.1M-10.7% | $820K-28.1% | $1.2M+7.6% | $1.3M+329.4% | $1.2M+642.5% | $1.1Mn/m | $1.2M+235.8% |
| R&D Expenses | $20K | N/A | N/A | $7K | N/A | $1K-50.0% | N/A | N/A |
| SG&A Expenses | $3.6M+89.8% | $2.0M+2.8% | $2.0M+3.0% | $2.0M+0.9% | $1.9M+49.0% | $2.0M+90.9% | $2.0M+77.0% | $1.9M+104.5% |
| Operating Income | -$2.5Mn/m | -$958Kn/m | -$1.2Mn/m | -$725Kn/m | -$636Kn/m | -$777Kn/m | -$841Kn/m | -$788Kn/m |
| EBITDA | -$1.7Mn/m | -$859Kn/m | -$1.1Mn/m | -$612Kn/m | -$525Kn/m | -$663Kn/m | -$733Kn/m | -$604Kn/m |
| Interest Expense | $2.2M+10500.0% | $42K+100.0% | N/A | N/A | $21K-30.0% | $21K+40.0% | $16K+700.0% | $20K+566.7% |
| Net Income | -$3.6Mn/m | -$927Kn/m | -$970Kn/m | -$653Kn/m | -$665Kn/m | -$712Kn/m | -$850Kn/m | -$693Kn/m |
| EPS (Basic) | -$0.40n/m | -$0.11n/m | -$0.12n/m | -$0.08n/m | -$0.09n/m | -$0.09n/m | -$0.11n/m | -$0.11n/m |
| EPS (Diluted) | -$0.40n/m | -$0.11n/m | -$0.12n/m | -$0.08n/m | -$0.09n/m | -$0.09n/m | -$0.11n/m | -$0.11n/m |
| Diluted Shares (Avg) | 9M+17.8% | 8M+7.3% | N/A | 8M+21.3% | 8M+22.4% | 8M+27.8% | N/A | 7M+15.0% |
Not reported in any period shown, so not listed: Income Tax.
NXGLW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $26.4M+172.3% | $11.6M+11.1% | $10.5M-4.8% | $11.6M+9.9% | $9.7M-0.7% | $10.4M+0.5% | $11.0M+10.3% | $10.6M+6.3% |
| Current Assets | $6.2M+48.2% | $5.6M+18.9% | $4.3M-15.2% | $5.6M+21.5% | $4.2M+16.0% | $4.7M-2.5% | $5.1M+1.2% | $4.6M-21.6% |
| Cash & Equivalents | $1.7M+135.3% | $2.1M+78.0% | $317K-82.5% | $938K-11.4% | $725K-32.2% | $1.2M-50.7% | $1.8M-33.1% | $1.1M-67.6% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $2.3M+26.5% | $2.3M+22.6% | $2.1M+20.6% | $2.0M+13.6% | $1.8M+25.9% | $1.8M+34.8% | $1.8M+32.8% | $1.8M+63.1% |
| Accounts Receivable | $1.1M+43.3% | $662K-28.5% | $673K-27.9% | $839K-6.2% | $753K+24.5% | $926K+25.3% | $933K+47.4% | $894K-22.8% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M+0.4% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M+261.4% |
| Total Liabilities | $21.0M+350.6% | $7.1M+46.1% | $5.6M+13.6% | $6.0M+8.2% | $4.7M-11.3% | $4.9M-6.0% | $4.9M+2.4% | $5.6M+51.3% |
| Current Liabilities | $14.4M+502.7% | $3.3M+31.6% | $3.0M+19.7% | $3.3M+8.5% | $2.4M-9.0% | $2.5M+1.4% | $2.5M-3.1% | $3.0M+85.5% |
| Non-Current Liabilities | $6.5M+189.4% | $3.8M+61.8% | $2.6M+7.4% | $2.7M+7.8% | $2.3M-13.6% | $2.4M-12.9% | $2.4M+8.6% | $2.5M+23.9% |
| Long-Term Debt | $3.1M+378.7% | $563K-15.0% | $588K-14.2% | $614K-13.4% | $638K-12.8% | $662K-11.7% | $685K+15.5% | $709K+154.1% |
| Total Equity | $4.9M+6.0% | $4.0M-23.3% | $4.5M-22.5% | $5.2M+10.6% | $4.7M+12.1% | $5.2M+8.8% | $5.8M+22.5% | $4.7M-17.7% |
| Retained Earnings | -$25.6Mn/m | -$21.9Mn/m | -$21.0Mn/m | -$20.0Mn/m | -$19.4Mn/m | -$18.7Mn/m | -$18.0Mn/m | -$17.1Mn/m |
NXGLW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.2Mn/m | -$504Kn/m | $281Kn/m | -$785Kn/m | -$407Kn/m | -$400Kn/m | -$859Kn/m | -$1.2Mn/m |
| Depreciation & Amortization | $827K+645.0% | $99K-13.2% | $112K+3.7% | $113K-38.6% | $111K+35.4% | $114K+83.9% | $108K-12.2% | $184K+425.7% |
| Stock-Based Compensation | N/A | $143K-13.9% | N/A | N/A | N/A | $166K+207.4% | N/A | N/A |
| Capital Expenditures | N/A | $9K | $40K-42.0% | $8K-38.5% | N/A | N/A | $69K-18.8% | $13K-96.4% |
| Free Cash Flow | N/A | -$513K | $241Kn/m | -$793Kn/m | N/A | N/A | -$928Kn/m | -$1.2Mn/m |
| Investing Cash Flow | -$6.6M | -$9K | -$40Kn/m | -$8Kn/m | N/A | N/A | -$63Kn/m | -$8K-103.8% |
| Financing Cash Flow | $8.4Mn/m | $1.6Mn/m | -$1.0M-162.3% | $1.9M+58.6% | -$40Kn/m | -$215K-123.1% | $1.7M+468.0% | $1.2M+1279.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
NXGLW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.1%-13.5pp | 40.0%-2.3pp | 29.3%-8.2pp | 42.4%+3.1pp | 43.6%+23.3pp | 42.3%+29.7pp | 37.5%+45.6pp | 39.3%+11.1pp |
| Operating Margin | -68.0%-45.9pp | -36.1%-8.5pp | -43.4%-15.7pp | -24.7%+2.1pp | -22.1%+51.1pp | -27.7%+41.1pp | -27.7% | -26.8%+23.3pp |
| Net Margin | -98.6%-75.6pp | -35.0%-9.6pp | -34.7%-6.7pp | -22.3%+1.3pp | -23.1%+38.4pp | -25.4%+42.0pp | -27.9% | -23.6%+21.5pp |
| Return on Equity | -73.5%-59.2pp | -23.2%-9.5pp | -21.7%-7.0pp | -12.6%+2.2pp | -14.2%+7.0pp | -13.7%+4.2pp | -14.8%+8.6pp | -14.8%-5.1pp |
| Return on Assets | -13.7%-6.9pp | -8.0%-1.2pp | -9.3%-1.5pp | -5.6%+0.9pp | -6.9%+2.2pp | -6.8%+1.4pp | -7.7%+3.3pp | -6.6%-1.0pp |
| Current Ratio | 0.43-1.3x | 1.70-0.2x | 1.47-0.6x | 1.69+0.2x | 1.74+0.4x | 1.88-0.1x | 2.07+0.1x | 1.51-2.1x |
| Debt-to-Equity | 0.62+0.5x | 0.140.0x | 0.130.0x | 0.120.0x | 0.140.0x | 0.130.0x | 0.120.0x | 0.15+0.1x |
| Liabilities-to-Equity | 4.24+3.2x | 1.78+0.8x | 1.25+0.4x | 1.170.0x | 1.00-0.3x | 0.93-0.1x | 0.85-0.2x | 1.19+0.5x |
| Asset Turnover | 0.14-0.2x | 0.230.0x | 0.270.0x | 0.250.0x | 0.30+0.1x | 0.27+0.1x | 0.28+0.2x | 0.28+0.2x |
| FCF Margin | N/A | -19.4% | 8.6%+39.1pp | -27.0%+14.8pp | N/A | N/A | -30.5%+31.7pp | -41.8%+46.7pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| NexGel, Inc Warrant NXGLW | FY2025 | $11.4M | -$3.0M | -26.3% | N/A | 38/100 |
| Innovative Eyewear, Inc. Series A Warrants 8/16/27 LUCYW | FY2025 | $2.7M | -$7.6M | N/A | N/A | 58/100 |
| NexGel, Inc NXGL | FY2025 | $11.4M | -$3.0M | -26.3% | $1.9M | 38/100 |
| Harvard Bioscience Inc HBIO | FY2025 | $86.5M | -$56.7M | -65.5% | $40.1M | 46/100 |
| Precision Optics Corporation, Inc. POCI | FY2026 | $31.5M | -$3.6M | -11.5% | $50.5M | 53/100 |
Where NexGel, Inc Warrant Ranks
Frequently Asked Questions
What is NexGel, Inc Warrant's annual revenue?
NexGel, Inc Warrant (NXGLW) 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 Warrant's revenue growing?
NexGel, Inc Warrant (NXGLW) revenue grew by 31.5% year-over-year, from $8.7M to $11.4M in fiscal year 2025.
Is NexGel, Inc Warrant profitable?
No, NexGel, Inc Warrant (NXGLW) reported a net loss of $3.0M in fiscal year 2025, with a net profit margin of -26.3%.
What is NexGel, Inc Warrant's EBITDA?
NexGel, Inc Warrant (NXGLW) had EBITDA of -$2.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does NexGel, Inc Warrant have?
As of fiscal year 2025, NexGel, Inc Warrant (NXGLW) had $317K in cash and equivalents against $588K in long-term debt.
What is NexGel, Inc Warrant's gross margin?
NexGel, Inc Warrant (NXGLW) 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 Warrant's operating margin?
NexGel, Inc Warrant (NXGLW) 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 Warrant's net profit margin?
NexGel, Inc Warrant (NXGLW) 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 Warrant's return on equity (ROE)?
NexGel, Inc Warrant (NXGLW) 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 Warrant's free cash flow?
NexGel, Inc Warrant (NXGLW) recorded an outflow of $1.4M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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 Warrant's operating cash flow?
NexGel, Inc Warrant (NXGLW) recorded an outflow of $1.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are NexGel, Inc Warrant's total assets?
NexGel, Inc Warrant (NXGLW) had $10.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are NexGel, Inc Warrant's capital expenditures?
NexGel, Inc Warrant (NXGLW) invested $68K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does NexGel, Inc Warrant spend on research and development?
NexGel, Inc Warrant (NXGLW) invested $2K in research and development during fiscal year 2025.
What is NexGel, Inc Warrant's current ratio?
NexGel, Inc Warrant (NXGLW) had a current ratio of 1.47 as of fiscal year 2025, which is considered adequate.
What is NexGel, Inc Warrant's debt-to-equity ratio?
NexGel, Inc Warrant (NXGLW) had a debt-to-equity ratio of 0.13 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is NexGel, Inc Warrant's liabilities-to-equity ratio?
NexGel, Inc Warrant (NXGLW) had a liabilities-to-equity ratio of 1.25 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is NexGel, Inc Warrant's return on assets (ROA)?
NexGel, Inc Warrant (NXGLW) had a return on assets of -28.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does NexGel, Inc Warrant's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, NexGel, Inc Warrant (NXGLW) held $317K in cash, cash equivalents and investments, and reported an operating cash outflow of $1.3M over that year. Dividing the one by the other, the reported balance equals about 3 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is NexGel, Inc Warrant's Piotroski F-Score?
NexGel, Inc Warrant (NXGLW) 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 Warrant's earnings high quality?
NexGel, Inc Warrant (NXGLW) reported a net loss of $3.0M while operations used $1.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Warrant cover its interest payments?
NexGel, Inc Warrant (NXGLW) reported an operating loss of $3.4M against $34K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Warrant?
NexGel, Inc Warrant (NXGLW) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.