Quarterly revenue growth driven by a sequential increase of 99% in branded consumer products and 103% in contract manufacturing Gross profit margin for the quarter was 43.6% compared to 28.2% in Q3 of 2023 and 28.5% in Q2 of 2024 LANGHORNE, Pa., Nov. 13, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, today announced record third quarter revenue of $2.94 mil ...

LANGHORNE, Pa., Nov. 11, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: NXGL), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced it has entered into definitive agreements for the issuance and sale of an aggregate of 727,272 of its shares of common stock and the issuance of warrants to purchase up to an aggregate of 363,636 shares of common stock for a com ...

LANGHORNE, Pa., Oct. 11, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: "NXGL"), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced that Adam Levy, Chief Executive Officer, is scheduled to participate in the following October 2024 investor conferences. Maxim's Healthcare Virtual Summit Date: October 15-17, 2024 Presentation Format: Fireside Chat with Naz R ...

LANGHORNE, Pa., Oct. 04, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: "NXGL"), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced the appointment of Kip Crecca to its Scientific Advisory Board. "We are thrilled to appoint Kip to our Scientific Advisory Board. He adds to our team a wealth of knowledge and experience as a top medical device sales professio ...

Revenue Growth - Revenue for Q2 2024 increased by 23.4% to $1.44 million compared to $1.167 million in Q2 2023, driven by growth in branded consumer products, including $380,000 from Silly George sales[136] - Revenue increased by $920K (51.5%) to $2,706K for the six months ended June 30, 2024, driven by growth in branded consumer products, including $380K from Silly George[147] Gross Profit and Margin - Gross profit for Q2 2024 rose to $410,000, a 28.5% gross margin, up from $175,000 (15.0% gross margin) in Q2 2023, primarily due to increased branded consumer product sales[139] - Gross profit rose by $570K to $687K, with a gross profit margin of 25.4% for the six months ended June 30, 2024, compared to 6.6% in the same period in 2023[147] Cost of Revenues - Cost of revenues increased by 3.8% to $1.03 million in Q2 2024, aligned with higher sales of branded consumer products, including Silly George and Kenkoderm acquisitions[141] - Cost of revenues increased by $350K (21.0%) to $2,019K, primarily due to higher materials and finished products costs aligned with branded consumer product sales[149] Selling, General, and Administrative Expenses - Selling, general, and administrative expenses increased by 57.4% to $1.388 million in Q2 2024, driven by higher compensation, advertising, and professional fees[142] - Selling, general, and administrative expenses increased by $855K (50.9%) to $2,534K, driven by higher advertising, marketing, and Amazon fees[149] Advertising and Marketing Expenses - Advertising and marketing expenses surged by 166.3% to $442,000 in Q2 2024, primarily due to promoting Kenkoderm and Silly George brands[143] - Advertising, marketing, and Amazon fees surged by $435K (167.3%) to $695K, attributed to promoting Kenkoderm and Silly George[150] Research and Development - Research and development expenses increased by 38.2% to $76,000 in Q2 2024, reflecting costs for potential new products[146] Acquisitions - The company acquired Kenkoderm in December 2023 for $546,500, with additional quarterly earn-outs of $136,625 based on performance[132][133] - The company acquired Silly George in May 2024 for $400,000 in cash and $200,000 in shares, with future earn-outs based on 20% of net profits[134] Joint Ventures and Product Expansion - The company formed joint ventures with CG Labs (March 2023) and Moiety (January 2023) to expand into converting, packaging, and branded consumer product opportunities[130][131] - The company expanded its product portfolio with Kenkoderm (skincare for psoriasis) and Silly George (beauty and cosmetics) in 2023 and 2024, respectively[130][134] Cash Flow and Working Capital - Net cash used in operating activities was $1,792K for the six months ended June 30, 2024, compared to $1,926K in the same period in 2023[153] - Cash and cash equivalents decreased to $1,069K as of June 30, 2024, from $2,700K at December 31, 2023[153] - Working capital decreased to $955K as of June 30, 2024, from $2,503K at December 31, 2023, due to operational losses and capital expenditures[155] Future Plans and Expectations - The company plans to explore new product channels, including cosmetics, athletic products, and proprietary medical devices, to expand its customer base[158] - The company expects to continue incurring losses in the near term and may consider equity or debt offerings to fund potential acquisitions[160]

NEXGEL, Inc. (NASDAQ:NXGL) Q2 2024 Earnings Conference Call August 14, 2024 4:30 PM ET Company Participants Valter Pinto - Managing Director of KCSA Strategic Communications Adam Levy - Chief Executive Officer, President and Director Adam Drapczuk - Chief Financial Officer Conference Call Participants William Odenthal - COVA Capital Partners Eric Ramos - Titan Capital Management Operator Good afternoon. I will be your conference operator today. At this time, I'd like to welcome everyone to NEXGEL's Second Q ...

Exhibit 99.1 NEXGEL Reports Record Second Quarter 2024 Revenue of $1.44 Million LANGHORNE, Pa. – August 14, 2024 – NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: "NXGL"), a leading provider of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, today announced record second quarter 2024 revenue of $1.44 million and is reiterating revenue guidance for the 2024 third and fourth quarter of $2.2 million and $2.6 million, respectively. Adam Levy, NEXGEL's Chief Executi ...

LANGHORNE, Pa., Aug. 14, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: "NXGL"), a leading provider of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, today announced record second quarter 2024 revenue of $1.44 million and is reiterating revenue guidance for the 2024 third and fourth quarter of $2.2 million and $2.6 million, respectively. Adam Levy, NEXGEL's Chief Executive Officer, commented, "The second quarter of 2024 was a record r ...

Management will host a conference call at 4:30 P.M. ET on the same day LANGHORNE, Pa., Aug. 12, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: "NXGL"), a leading provider of medical and over-the-counter (OTC) products including ultragentle, high-water-content hydrogels for healthcare and consumer applications, today announced it will report its financial results for the second quarter 2024, after the market closes on August 14, 2024. Following the release of its financial results ...

While laser hair removal has proven to be effective in permanently removing hair, it can be associated with the release of a plume that contains airborne particles and hazardous organic compounds, which if inhaled may affect the short and long term health of professional providing the treatments. At present, well over a dozen states have enacted legislation mandating the use of plume evacuation systems in order to mitigate the hazards and risks of exposure to the plume. Adam Levy, CEO of NEXGEL, commented, ...