LANGHORNE, Pa. — November 11, 2025 — Leads & Copy — NEXGEL, Inc. (NASDAQ: NXGL) reported its third-quarter 2025 financial results, showing stable revenue and narrowing losses.
Net revenue for the quarter was $2.93 million, nearly the same as the $2.94 million reported in Q3 2024 and the $2.88 million in Q2 2025.
Gross profit increased to $1.24 million, compared to $1.16 million in Q3 2024, but slightly lower than the $1.26 million in Q2 2025. The gross profit margin was 42.4%, up from 39.3% in Q3 2024 but down from 43.6% in Q2 2025.
The net loss attributable to NEXGEL stockholders decreased to $0.65 million, compared to $0.69 million in Q3 2024 and $0.67 million in Q2 2025.
EBITDA, a non-GAAP financial measure, was ($0.55) million, compared to ($0.49) million in Q3 2024 and ($0.53) million in Q2 2025. Adjusted EBITDA, also a non-GAAP financial measure, was ($0.35) million, the same as in Q3 2024, but an improvement over the ($0.42) million in Q2 2025.
Adam Levy, Chief Executive Officer of NEXGEL, stated that while revenue remained flat, the Adjusted EBITDA loss narrowed sequentially due to consistent performance in contract manufacturing and consumer branded products, as well as maintaining operational efficiencies. He highlighted growth in the contract manufacturing segment, driven by partnerships like Cintas, and the onboarding of new global customers. Levy also noted that consumer brands are gaining traction with new product launches in beauty and skincare.
For the third quarter of 2025, the cost of revenues totaled $1.69 million, down from $1.79 million in the third quarter of 2024. This decrease was primarily due to lower materials and finished product costs, as well as reduced amortization and depreciation, which was offset by increased commission and contract fees, and higher equipment, production, and other expenses.
Selling, general, and administrative expenses for Q3 2025 were $1.96 million, slightly higher than the $1.94 million in Q3 2024. The increase was attributed to higher compensation and benefits, share-based compensation, and professional and consulting fees, offset by a decrease in advertising, marketing and amazon fees.
As of September 30, 2025, NEXGEL’s cash balance was approximately $938,000, with a restricted cash balance of $920,000 related to $1 million in non-dilutive capital from STADA.
As of November 11, 2025, NEXGEL had 8,143,133 shares of common stock outstanding.
NEXGEL is a provider of healthcare, beauty, and over-the-counter products, including hydrogel products. Its brands include Silverseal®, Hexagels®, Turfguard®, Kenkoderm® and Silly George®.
The company will host a conference call on November 11, 2025, at 4:30 p.m. ET to discuss the results. A replay will be available until November 25, 2025, using access code 11160116.
Investor Contacts:
Valter Pinto, Managing Director
KCSA Strategic Communications
212.896.1254
Nexgel@kcsa.com
Source: NEXGEL, INC.
