NEXGEL Reports Second Quarter 2025 Financial Results
NEXGEL (NASDAQ: NXGL) reported strong Q2 2025 financial results with revenue reaching $2.88 million, marking a significant 100.3% increase year-over-year. The company achieved substantial margin improvement with gross profit margin expanding to 43.6% from 20.3% in Q2 2024.
Key highlights include a reduced net loss of $0.67 million (vs. $0.89 million in Q2 2024) and improved Adjusted EBITDA of ($0.42) million. Post-quarter, NEXGEL secured a $1 million non-dilutive advance from STADA and raised $1.05 million in additional financing. The company maintains its 2025 guidance of $13 million in revenue and expects to achieve positive EBITDA during the year.
NEXGEL (NASDAQ: NXGL) ha registrato solidi risultati finanziari nel secondo trimestre 2025 con ricavi pari a $2.88 million, segnando un incremento del 100.3% rispetto allo stesso periodo dell'anno precedente. L'azienda ha ottenuto un significativo miglioramento dei margini, con il margine lordo salito al 43.6% rispetto al 20.3% nel Q2 2024.
I punti chiave includono una perdita netta ridotta a $0.67 million (vs. $0.89 million nel Q2 2024) e un EBITDA rettificato migliorato a ($0.42) million. Dopo la chiusura del trimestre, NEXGEL ha ottenuto un $1 million non-dilutive advance da STADA e ha raccolto ulteriori $1.05 million di finanziamenti. L'azienda conferma la guidance 2025 di $13 million di ricavi e prevede di raggiungere un EBITDA positivo nel corso dell'anno.
NEXGEL (NASDAQ: NXGL) presentó sólidos resultados financieros en el segundo trimestre de 2025, con ingresos de $2.88 million, lo que supone un aumento interanual del 100.3%. La compañía logró una mejora notable de márgenes, con el margen bruto elevándose al 43.6% frente al 20.3% en el Q2 2024.
Los puntos clave incluyen una reducción de la pérdida neta a $0.67 million (vs. $0.89 million en el Q2 2024) y una mejora del EBITDA ajustado a ($0.42) million. Tras el cierre del trimestre, NEXGEL obtuvo un $1 million non-dilutive advance de STADA y recaudó $1.05 million adicionales. La compañía mantiene su guía 2025 de $13 million en ingresos y espera alcanzar un EBITDA positivo durante el año.
NEXGEL (NASDAQ: NXGL)는 2025년 2분기 강력한 실적을 발표했으며 매출은 $2.88 million으로 전년 동기 대비 100.3% 증가했습니다. 회사는 매출총이익률을 전년 Q2의 20.3%에서 43.6%로 크게 개선하며 마진이 크게 향상되었습니다.
주요 내용으로는 순손실이 $0.67 million으로 축소된 점(전년 Q2: $0.89 million)과 조정 EBITDA가 ($0.42) million로 개선된 점이 있습니다. 분기 종료 후 NEXGEL은 STADA로부터 $1 million non-dilutive advance를 확보하고 추가로 $1.05 million의 자금을 조달했습니다. 회사는 2025년 매출 가이던스 $13 million을 유지하며 연내 긍정적 EBITDA 달성을 기대하고 있습니다.
NEXGEL (NASDAQ: NXGL) a publié de solides résultats financiers au deuxième trimestre 2025, avec un chiffre d'affaires de $2.88 million, soit une hausse de 100.3% en glissement annuel. La société a enregistré une amélioration significative des marges, la marge brute passant à 43.6% contre 20.3% au T2 2024.
Les points clés comprennent une perte nette réduite à $0.67 million (vs. $0.89 million au T2 2024) et un EBITDA ajusté en amélioration à ($0.42) million. Après la clôture du trimestre, NEXGEL a obtenu une $1 million non-dilutive advance de STADA et levé $1.05 million de financement supplémentaire. La société maintient ses prévisions 2025 de $13 million de chiffre d'affaires et prévoit d'obtenir un EBITDA positif au cours de l'année.
NEXGEL (NASDAQ: NXGL) meldete starke Finanzergebnisse für das zweite Quartal 2025: der Umsatz erreichte $2.88 million, was einem deutlichen Anstieg von 100.3% gegenüber dem Vorjahr entspricht. Das Unternehmen verzeichnete eine deutliche Margenverbesserung, die Bruttomarge stieg auf 43.6% gegenüber 20.3% im Q2 2024.
Wesentliche Punkte sind der verringerte Nettoverlust von $0.67 million (vs. $0.89 million im Q2 2024) und ein verbessertes bereinigtes EBITDA von ($0.42) million. Nach Quartalsende sicherte sich NEXGEL einen $1 million non-dilutive advance von STADA und sammelte weitere $1.05 million an Finanzierung. Das Unternehmen bestätigt die Prognose für 2025 von $13 million Umsatz und erwartet, im Laufe des Jahres ein positives EBITDA zu erreichen.
- Revenue doubled to $2.88M, showing 100.3% year-over-year growth
- Gross profit margin more than doubled to 43.6% from 20.3% year-over-year
- Secured $1M non-dilutive capital from STADA partnership expansion
- Net loss improved to $0.67M from $0.89M in Q2 2024
- Successfully raised $1.05M in additional financing
- Still operating at a net loss of $0.67M
- Negative EBITDA of ($0.53M)
- SG&A expenses increased to $1.89M from $1.27M year-over-year
- Low cash balance of $0.73M as of June 30, 2025
Insights
NEXGEL delivered impressive 100% YoY revenue growth with substantial margin expansion, while steadily reducing losses toward profitability.
NEXGEL's Q2 2025 results show remarkable financial improvement across multiple metrics. Revenue doubled year-over-year to
The sequential improvements are equally encouraging. Q2 revenue grew slightly from Q1's
Cash position was relatively tight at
The consistent quarter-over-quarter improvements in adjusted EBITDA (from
Second quarter 2025 revenue totaled
Gross Profit for the quarter was
Company is reiterating revenue guidance for 2025 of
LANGHORNE, Pa., Aug. 12, 2025 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of healthcare, beauty, and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, today announced its second quarter 2025 financial results for the period ending June 30, 2025.
Second Quarter 2025 Financial Highlights:
| ● | Net Revenue was | |
| ● | Gross Profit was | |
| ● | Gross Profit Margin was | |
| ● | Net loss attributable to NEXGEL stockholders was | |
| ● | EBITDA1, a non-GAAP financial measure, was ( | |
| ● | Adjusted EBITDA1, a non-GAAP financial measure, was ( |
“For the second quarter of 2025 we reported strong revenue and gross margin with a steady decline of our Adjusted EBITDA loss as we head into seasonally a strong second half of the year. The year-over-year growth was led by growth in consumer demand for our branded products and new agreements in contract manufacturing. In both parts of our business, we expect significant growth opportunities in the second half of 2025 as new consumer product launches for our brands come online and we onboard new contract manufacturing customers in our robust pipeline,” said Adam Levy, Chief Executive Officer of NEXGEL. “Subsequent to the quarter, we expanded our partnership with STADA, which includes a
Second Quarter 2025 Financial Results
For the second quarter of 2025, revenue totaled
Cost of revenues totaled
Gross profit totaled
Selling, general and administrative expenses totaled
EBITDA1, a non-GAAP financial measure, totaled (
Adjusted EBITDA1, a non-GAAP financial measure, totaled (
Net loss attributable to NEXGEL stockholders for the second quarter of 2025 was
As of June 30, 2025, the Company had a cash balance of approximately
As of August 12, 2025, NEXGEL had 8,067,580 shares of common stock outstanding.
1. EBITDA and Adjusted EBITDA are a non-GAAP measures described in the section titled Non-GAAP Financial Measures” below and reconciled to the most directly comparable GAAP measures at the end of this release.
Second Quarter 2025 Financial Results Conference Call
Date: August 12, 2025
Time: 4:30 p.m. ET
Live Call: 1-800-274-8461 (U.S. Toll Free) or 1-203-518-9814 (International)
Webcast: Events and Presentations
For interested individuals unable to join the conference call, a replay will be available through August 26, 2025, by dialing + 1-844-512-2921 (U.S. Toll Free) or + 1-412-317-6671 (International). Participants must use the following code to access the replay of the call: 11159686. An archived version of the webcast will also be available for 90 days.
About NEXGEL, INC.
NEXGEL is a leading provider of healthcare, beauty, and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels. Based in Langhorne, Pa., the Company has developed and manufactured electron-beam, cross-linked hydrogels for over two decades. NEXGEL brands include SilverSeal®, Hexagels®, Turfguard®, Kenkoderm® and Silly George®. Additionally, NEXGEL has strategic contract manufacturing relationships with leading consumer healthcare companies.
Non-GAAP Financial Measures
Certain Non-GAAP financial measures are included in this press release. In the calculation of these measures, the Company excludes certain items, such as amortization of intangible assets, stock-based compensation, tax impact of adjustments, other unusual items and discrete items impacting income tax expense. The Company believes that excluding such items provides investors and management with a representation of the Company’s core operating performance and with information useful in assessing its prospects for the future and underlying trends in the Company’s operating expenditures and continuing operations. Management uses such Non-GAAP measures to evaluate financial results and manage operations. The release and the attachments to this release provide a reconciliation of each of the Non-GAAP measures referred to in this release to the most directly comparable GAAP measure. The Non-GAAP financial measures are not meant to be considered a substitute for the corresponding GAAP financial statements and investors should evaluate them carefully. These Non-GAAP financial measures may differ materially from the Non-GAAP financial measures used by other companies.
Forward-Looking Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs, such as “will,” “should,” “would,” “may,” and “could,” are generally forward-looking in nature and not historical facts, including, without limitation, our expectation for significant growth opportunities in the second half of 2025 as new consumer product launches for our brands come online and we onboard new contract manufacturing customers in our robust pipeline and our continued expectation to generate at least
Investor Contacts:
Valter Pinto, Managing Director
KCSA Strategic Communications
212.896.1254
Nexgel@kcsa.com
NEXGEL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2025 AND DECEMBER 31, 2024
(Unaudited)
(in thousands, except share and per share data)
| June 30, 2025 | December 31, 2024 | |||||||
| ASSETS: | ||||||||
| Current Assets: | ||||||||
| Cash | $ | 725 | $ | 1,807 | ||||
| Accounts receivable, net | 753 | 933 | ||||||
| Inventory, net | 1,821 | 1,751 | ||||||
| Prepaid expenses and other current assets | 863 | 623 | ||||||
| Total current assets | 4,162 | 5,114 | ||||||
| Goodwill | 1,128 | 1,128 | ||||||
| Intangibles, net | 744 | 807 | ||||||
| Property and equipment, net | 2,070 | 2,211 | ||||||
| Operating lease - right of use asset | 1,512 | 1,628 | ||||||
| Other assets | 95 | 95 | ||||||
| Total assets | $ | 9,711 | $ | 10,983 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | 826 | $ | 761 | ||||
| Accounts payable - related party | 447 | 531 | ||||||
| Accrued expenses and other current liabilities | 534 | 310 | ||||||
| Deferred revenue | 180 | 179 | ||||||
| Current portion of note payable | 99 | 97 | ||||||
| Warrant liability | 14 | 118 | ||||||
| Contingent consideration liability | - | 178 | ||||||
| Financing lease liability, current portion | 62 | 59 | ||||||
| Operating lease liabilities, current portion | 234 | 237 | ||||||
| Total current liabilities | 2,396 | 2,470 | ||||||
| Operating lease liabilities, net of current portion | 1,446 | 1,538 | ||||||
| Financing lease liability, net of current portion | 275 | 307 | ||||||
| Notes payable, net of current portion | 539 | 588 | ||||||
| Total liabilities | 4,656 | 4,903 | ||||||
| Commitments and Contingencies (Note 17) | - | - | ||||||
| Preferred stock, par value | - | - | ||||||
| Common stock, par value | 8 | 8 | ||||||
| Additional paid-in capital | 24,036 | 23,743 | ||||||
| Accumulated deficit | (19,373 | ) | (17,996 | ) | ||||
| Total NexGel stockholders’ equity | 4,671 | 5,755 | ||||||
| Non-controlling interest in joint venture | 384 | 325 | ||||||
| Total stockholders’ equity | 5,055 | 6,080 | ||||||
| Total liabilities and stockholders’ equity | $ | 9,711 | $ | 10,983 | ||||
NEXGEL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024
(Unaudited)
(in thousands, except share and per share data)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues, net | $ | 2,884 | $ | 1,440 | $ | 5,690 | $ | 2,706 | ||||||||
| Cost of revenues | 1,626 | 1,147 | 3,244 | 2,187 | ||||||||||||
| Gross profit | 1,258 | 293 | 2,446 | 519 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | - | 76 | 1 | 78 | ||||||||||||
| Selling, general and administrative | 1,894 | 1,271 | 3,858 | 2,366 | ||||||||||||
| Total operating expenses | 1,894 | 1,347 | 3,859 | 2,444 | ||||||||||||
| Loss from operations | (636 | ) | (1,054 | ) | (1,413 | ) | (1,925 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest expense, net | (21 | ) | (29 | ) | (42 | ) | (44 | ) | ||||||||
| Loss on sale of assets | - | (4 | ) | - | (4 | ) | ||||||||||
| Other expense | (37 | ) | - | (76 | ) | - | ||||||||||
| Other income | 41 | 6 | 109 | 6 | ||||||||||||
| Gain on investments | - | 23 | - | 57 | ||||||||||||
| Changes in fair value of warrant liability | 13 | 79 | 104 | 26 | ||||||||||||
| Total other income (expense), net | (4 | ) | 75 | 95 | 41 | |||||||||||
| Loss before income taxes | (640 | ) | (979 | ) | (1,318 | ) | (1,884 | ) | ||||||||
| Income tax expense | - | - | - | - | ||||||||||||
| Net loss | (640 | ) | (979 | ) | (1,318 | ) | (1,884 | ) | ||||||||
| Less: Income (loss) attributable to non-controlling interest in joint venture | (25 | ) | 94 | (59 | ) | 146 | ||||||||||
| Net loss attributable to NexGel stockholders | $ | (665 | ) | $ | (885 | ) | $ | (1,377 | ) | $ | (1,738 | ) | ||||
| Net loss per common share - basic | $ | (0.09 | ) | $ | (0.14 | ) | $ | (0.18 | ) | $ | (0.28 | ) | ||||
| Net loss per common share - diluted | $ | (0.09 | ) | $ | (0.14 | ) | $ | (0.18 | ) | $ | (0.28 | ) | ||||
| Weighted average shares used in computing net loss per common share - basic | 7,654,348 | 6,254,659 | 7,649,878 | 6,118,212 | ||||||||||||
| Weighted average shares used in computing net loss per common share – diluted | 7,654,348 | 6,254,659 | 7,649,878 | 6,118,212 | ||||||||||||
NEXGEL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024
(Unaudited)
(in thousands)
| Six Months Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Operating Activities | ||||||||
| Net loss | $ | (1,377 | ) | $ | (1,738 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Income (loss) attributable to non-controlling interest in joint venture | 59 | (146 | ) | |||||
| Depreciation and amortization | 225 | 144 | ||||||
| Net changes in operating lease assets and liabilities | 21 | 22 | ||||||
| Share-based compensation and restricted stock vesting | 293 | 118 | ||||||
| Gain on investment in marketable securities | — | (57 | ) | |||||
| Changes in fair value of warrant liability and warrant modification expense | (104 | ) | (26 | ) | ||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | 180 | 28 | ||||||
| Inventory | (70 | ) | (127 | ) | ||||
| Prepaid expenses and other assets | (240 | ) | (68 | ) | ||||
| Accounts payable | 65 | 117 | ||||||
| Accounts payable – related party | (84 | ) | (105 | ) | ||||
| Accrued expenses and other current liabilities | 224 | (113 | ) | |||||
| Deferred revenue | 1 | 159 | ||||||
| Net Cash Used in Operating Activities | (807 | ) | (1,792 | ) | ||||
| Investing Activities | ||||||||
| Proceeds from sales of marketable securities | — | 57 | ||||||
| Capital expenditures | (20 | ) | (361 | ) | ||||
| Net cash paid for asset acquisition | — | (400 | ) | |||||
| Net Cash Used in Investing Activities | (20 | ) | (704 | ) | ||||
| Financing Activities | ||||||||
| Proceeds from equity offering, net of expenses | — | 946 | ||||||
| Investment by joint venture partner | — | 37 | ||||||
| Payment of contingent consideration liability | (178 | ) | (69 | ) | ||||
| Principal payment on financing lease liability | (29 | ) | (22 | ) | ||||
| Principal payments of notes payable | (48 | ) | (27 | ) | ||||
| Net Cash Provided by (Used in) Financing Activities | (255 | ) | 865 | |||||
| Net Decrease in Cash | (1,082 | ) | (1,631 | ) | ||||
| Cash – Beginning of period | 1,807 | 2,700 | ||||||
| Cash – End of period | $ | 725 | $ | 1,069 | ||||
| Supplemental Disclosure of Cash Flows Information | ||||||||
| Cash paid during the year for: | ||||||||
| Interest | $ | 18 | $ | 27 | ||||
| Taxes | $ | — | $ | — | ||||
| Supplemental Non-cash Investing and Financing activities | ||||||||
| Shares issued in conjunction with asset acquisition | $ | — | $ | 200 | ||||
| Property and equipment financed under notes payable | $ | — | $ | 165 | ||||
| Property and equipment financed under financing leases | $ | — | $ | 416 | ||||
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES
(in thousands, except per share amounts)
CALCULATION OF EBITDA & ADJUSTED EBITDA
| Three Months Ended March 31, | Three Months Ended June 30, | |||||||||||
| 2025 | 2025 | 2024 | ||||||||||
| Net (loss) income: | $ | (678 | ) | $ | (640 | ) | $ | (979 | ) | |||
| Less: Loss (income) attributable to non-controlling interest in joint venture | (34 | ) | (25 | ) | 94 | |||||||
| Net loss attributable to NexGel stockholders | (712 | ) | (665 | ) | (885 | ) | ||||||
| Adjustments: | ||||||||||||
| Depreciation and amortization | 114 | 111 | 92 | |||||||||
| Interest expense, net | 21 | 21 | 29 | |||||||||
| Income tax expense | - | - | - | |||||||||
| EBITDA | (577 | ) | (533 | ) | (764 | ) | ||||||
| Change in warrant liability(1) | (91 | ) | (13 | ) | (79 | ) | ||||||
| Share-based compensation expense(2) | 166 | 127 | 55 | |||||||||
| Adjusted EBITDA: | $ | (502 | ) | $ | (419 | ) | $ | (788 | ) | |||
| Six Months Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Net (loss) income: | $ | (1,318 | ) | $ | (1,884 | ) | ||
| Less: Loss (income) attributable to non-controlling interest in joint venture | (59 | ) | 146 | |||||
| Net loss attributable to NexGel stockholders | (1,377 | ) | (1,738 | ) | ||||
| Adjustments: | ||||||||
| Depreciation and amortization | 225 | 144 | ||||||
| Interest expense, net | 42 | 44 | ||||||
| Income tax expense | - | - | ||||||
| EBITDA | (1,110 | ) | (1,550 | ) | ||||
| Change in warrant liability (1) | (104 | ) | (26 | ) | ||||
| Share-based compensation expense(2) | 293 | 118 | ||||||
| Adjusted EBITDA: | $ | (921 | ) | $ | (1,458 | ) | ||
| (1 | ) | This adjustment gives effect to non-cash warrant liability changes incurred during the periods. | |
| (2 | ) | The adjustments represent share-based compensation expense related to awards of stock options, restricted stock units, or common stock in exchange for services. Although we expect to continue to award stock in exchange for services, the amount of non-cash stock-based compensation is excluded as it is subject to change as a result of one-time or non-recurring projects. |
FAQ
What was NEXGEL's (NXGL) revenue growth in Q2 2025?
How much did NEXGEL's gross profit margin improve in Q2 2025?
What is NEXGEL's revenue guidance for 2025?
How much additional funding did NEXGEL secure after Q2 2025?
What was NEXGEL's net loss in Q2 2025?
