NEXGEL (NXGL) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 increased 27.8% year-over-year to $3.7M, driven by new biomaterial product sales from the Celularity acquisition.

• Net loss attributable to stockholders was $3.6M for Q2 2026, compared to $0.7M in Q2 2025; six-month net loss was $4.6M.

• Completed acquisition of Celularity, focusing on integrating employees, sales, and branding under the BioNX Surgical division.

• Initiated technology transfer to Sequence Life Science to address supply chain constraints and improve scalability.

• Launched BioNX Regenerative Eye Health & Aesthetics to expand into regenerative medicine markets.

Financial highlights

• Q2 2026 revenue: $3.7M (up 27.8% YoY); six-month revenue: $6.3M (up 11.4% YoY).

• Q2 2026 gross profit: $1.1M (down from $1.3M YoY); six-month gross profit: $2.2M (down from $2.4M YoY).

• Q2 2026 net loss: $3.6M; six-month net loss: $4.6M.

• Net loss included $756,554 in BioNX intangible asset amortization, $273,710 in one-time transaction expenses, and $144,495 for a strategic SilverSeal recall.

• Cash and equivalents at June 30, 2026: $1.7M; negative working capital of $8.3M.

Outlook and guidance

• Management expects continued near-term losses and is focused on integrating the Celularity assets to drive future growth.

• Ongoing efforts to raise additional capital through equity or debt offerings; no assurance of success.

• Anticipates positive operating cash flows from the new biomaterials business but faces substantial doubt about long-term going concern.

• Management remains optimistic about growth opportunities in the hospital channel and expects higher gross margins.

• Plans to provide a detailed operational and commercialization update in mid-September 2026.