NexGel(US:NXGL)2025-11-12 13:06Revenue Performance - Revenue for Q3 2025 was $2.93 million, a slight decrease of 0.20% compared to $2.94 million in Q3 2024[5] - Revenues for the three months ended September 30, 2025, were $2,934 million, a slight decrease from $2,940 million in the same period of 2024[22] Profitability Metrics - Gross profit increased to $1.24 million in Q3 2025, up from $1.16 million in Q3 2024, resulting in a gross profit margin of 42.4% compared to 39.3% in the prior year[7][12] - Gross profit for the nine months ended September 30, 2025, was $3,690 million, compared to $1,674 million for the same period in 2024, indicating a significant increase[22] - Net loss attributable to NEXGEL stockholders narrowed to $0.65 million in Q3 2025 from a loss of $0.69 million in Q3 2024[9][12] - Net loss attributable to NexGel stockholders for the nine months ended September 30, 2025, was $2,030 million, an improvement from a net loss of $2,431 million in 2024[26] - Adjusted EBITDA remained stable at ($0.35) million for Q3 2025, consistent with Q3 2024[9][12] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(1,275) million, compared to $(1,804) million in 2024, showing a reduction in losses[26] Cash and Assets - Cash balance as of September 30, 2025, was approximately $938 thousand, with an additional $920 thousand in restricted cash[10] - Cash and cash equivalents at the end of the period were $938 million, down from $1,059 million in 2024[24] - Total assets increased to $11.62 million as of September 30, 2025, compared to $10.98 million at the end of 2024[20] Expenses - Selling, general and administrative expenses increased slightly to $1.96 million in Q3 2025 from $1.94 million in Q3 2024, driven by higher compensation and consulting fees[8] - Total operating expenses for the nine months ended September 30, 2025, were $5,828 million, up from $4,387 million in 2024[22] - Research and development expenses for the three months ended September 30, 2025, were $7 million, compared to $0 in the same period of 2024[22] Operational Insights - The company reported stable revenue in contract manufacturing and branded products, indicating market confidence in its hydrogel technology[4] - The company is focused on expanding its innovative products across both contract manufacturing and consumer brands businesses[4] - NEXGEL has strategic partnerships with leading consumer healthcare companies, enhancing its market position[15] Cash Flow and Interest - The company reported a net cash used in operating activities of $1,592 million for the nine months ended September 30, 2025, an improvement from $3,008 million in 2024[24] - Interest expense, net for the nine months ended September 30, 2025, was $32 million, down from $65 million in 2024[26] Share Metrics - The weighted average shares used in computing net loss per common share - basic for the three months ended September 30, 2025, were 7,971,299, compared to 6,569,403 in 2024[22]