Logo

NXGL

NEXGEL, Inc.

NXGL

NEXGEL, Inc. • NASDAQ
$1.79 ▼ -1.37% (-0.03)
Market Cap $19.12 M
52w High $5.10
52w Low $1.56
Dividend Yield 0%
P/E -4.85
Volume 17.35K
Outstanding Shares 10.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.934M ▲ $1.968M ▲ $-653K ▲ -22.256% ▲ $-0.08 ▲ $-524K ▼
Q2-2025 $2.884M ▲ $1.894M ▼ $-665K ▲ -23.058% ▲ $-0.087 ▲ $-520K ▲
Q1-2025 $2.806M ▼ $1.965M ▲ $-712K ▲ -25.374% ▲ $-0.093 ▲ $-531K ▲
Q4-2024 $3.041M ▲ $1.62M ▼ $-850K ▼ -27.951% ▼ $-0.12 ▼ $-660K ▼
Q3-2024 $2.94M $2.07M $-693K -23.571% $-0.11 $-550K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $938K ▲ $11.62M ▲ $6.044M ▲ $5.186M ▲
Q2-2025 $725K ▼ $9.711M ▼ $4.656M ▼ $4.671M ▼
Q1-2025 $1.192M ▼ $10.437M ▼ $4.869M ▼ $5.209M ▼
Q4-2024 $1.807M ▲ $10.983M ▲ $4.903M ▼ $5.755M ▲
Q3-2024 $1.059M $10.572M $5.586M $4.687M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-653K ▲ $-785K ▼ $-8K ▲ $1.926M ▲ $1.133M ▲ $-793K ▼
Q2-2025 $-665K ▲ $-407K ▼ $-20K ▼ $-40K ▲ $-467K ▲ $-427K ▼
Q1-2025 $-712K ▲ $-400K ▲ $0 ▲ $-215K ▼ $-615K ▼ $-400K ▲
Q4-2024 $-850K ▼ $-859K ▲ $-63K ▼ $1.67M ▲ $748K ▲ $-928K ▲
Q3-2024 $-693K $-1.216M $-8K $1.214M $-10K $-1.229M

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Contract Manufacturing
Contract Manufacturing
 $0 ▲$0 ▲$0 ▲$0 ▲
Other Incomes
Other Incomes
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement NEXGEL looks like a very early-stage company from its reported income statement. Revenue has only just started to register and has been very small so far, while losses per share have been consistent each year. This suggests the business is still in a build-out phase: spending on people, facilities, and product development well ahead of revenue. The key point is that the story is about future growth rather than past profitability, and there is still no clear history of operating at scale or earning steady profits.

Balance Sheet

Balance Sheet The balance sheet appears very light and simple. The company has a small base of assets, very modest cash, and essentially no debt, so it is not heavily leveraged. At the same time, equity is thin, which reflects the company’s small size and limited accumulated capital. This combination means financial flexibility likely depends on continued access to new equity or partnership funding rather than on internal resources.

Cash Flow

Cash Flow Reported cash flow figures suggest the business has not yet generated meaningful cash from its operations. Capital spending appears limited, which fits an asset-light, specialized manufacturing model, but it also means most value is tied up in know‑how and relationships rather than hard assets. Overall, NEXGEL still seems reliant on outside funding and careful cash management while it works toward the scale needed for self-sustaining cash flow.

Competitive Edge

Competitive Edge Competitively, NEXGEL’s strength comes from its specialized hydrogel technology and manufacturing capabilities. Its electron‑beam cross‑linking approach is hard to replicate and, according to the description, only a small number of players in North America can do this at scale, which creates a real barrier to entry. The company also benefits from a mix of contract manufacturing, white‑label products, and its own brands, plus partnerships with larger healthcare and consumer companies. Against that, NEXGEL is still small and likely has far fewer resources than major medical and consumer health firms, so maintaining bargaining power and execution quality with big partners is a key ongoing risk.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of the NEXGEL story. The company has built a broad toolkit of hydrogel formulations with different levels of water content, adhesion, and active ingredients, including more sustainable and biodegradable options. It is using this platform to move up the value chain into branded products and medical devices, such as advanced wound care, cosmetic patches, and psoriasis-related solutions. The pipeline of new launches with partners and under its own brands suggests a strong R&D engine, but these projects still need to be translated into durable, profitable product lines over time.

Summary

NEXGEL is an early-stage hydrogel specialist with promising technology and notable partnerships, but a very limited financial track record so far. The company’s appeal rests on its proprietary process, niche manufacturing position, and growing portfolio of healthcare and beauty products, rather than on current revenue or profits. Financially, it remains small, with modest assets, no meaningful debt, and dependence on external capital while it scales. The main opportunity is that successful execution of its product pipeline and collaborations could drive much stronger revenue over the next few years; the main risk is that this ramp takes longer or proves smaller than hoped, leaving the company constrained by its size and resources.

NEWS

November 11, 2025 · 4:10 PM UTC

NEXGEL Reports Third Quarter 2025 Financial Results

Read more