NexGel(US:NXGL)2025-11-12 13:01Revenue and Profit - For the three months ended September 30, 2025, revenues were $2,934, a decrease of $6 or 0.20% compared to $2,940 for the same period in 2024[187]. - Gross profit for the three months ended September 30, 2025 was $1,243, an increase of $88 from $1,155 in 2024, resulting in a gross profit margin of 42.4% compared to 39.2% in 2024[188]. - Revenues for the nine months ended September 30, 2025 were $8,625, an increase of $2,978 or 52.7% compared to $5,647 for the same period in 2024, driven by sales growth in branded consumer products[197]. - Gross profit for the nine months ended September 30, 2025 was $3,690, an increase of $2,016 from $1,674 in 2024, with a gross profit margin of approximately 42.8% compared to 29.6% in 2024[198]. Costs and Expenses - Total cost of revenues decreased by $94 or 5.2% to $1,691 for the three months ended September 30, 2025, primarily due to a decrease in depreciation and amortization expense[189]. - Cost of revenues increased by $962, or 24.2%, to $4,935 for the nine months ended September 30, 2025, compared to $3,973 for the same period in 2024[200]. - Selling, general, and administrative expenses rose by $1,511, or 35.1%, to $5,820 for the nine months ended September 30, 2025, from $4,309 in the prior year[201]. - Compensation and benefits increased by $167 or 69.9% to $406 for the three months ended September 30, 2025, reflecting an increase in the number of employees and officer compensation[191]. - Compensation and benefits increased by $406, or 54.6%, to $1,149 for the nine months ended September 30, 2025, compared to $743 for the same period in 2024[202]. - Research and development expenses were $7 for the three months ended September 30, 2025, compared to $0 in 2024, indicating an increase in investment in innovation[196]. - Research and development expenses decreased by $70, or 89.7%, to $8 for the nine months ended September 30, 2025, from $78 in the prior year[209]. - Share-based compensation rose by $57 or 39.8% to $200 for the three months ended September 30, 2025, due to the issuance of stock options and restricted awards[192]. - Advertising, marketing, and Amazon fees decreased by $170 or 20.7% to $650 for the three months ended September 30, 2025, as part of a strategy to optimize advertising spend[193]. - Professional and consulting fees increased by $45 or 12.0% to $420 for the three months ended September 30, 2025, due to ongoing public company governance requirements[195]. Cash Flow and Financial Position - Net cash used in operating activities was $1,592 for the nine months ended September 30, 2025, an improvement from $3,008 in the same period of 2024[212]. - Cash and cash equivalents at the end of the quarter were $1,858, compared to $1,059 at the end of September 30, 2024[212]. - Current assets totaled $5,602 and current liabilities totaled $3,308 as of September 30, 2025, resulting in working capital of $2,294[216]. Strategic Plans and Outlook - The company plans to explore new product channel sales in cosmetics, athletic products, and proprietary medical devices[218]. - The August Financing provided necessary working capital to continue strategic objectives, including the development of consumer products and proprietary medical devices[219]. - The company expects to continue incurring losses in the near term, with future operations dependent on managing and growing current products[220].