NEXGEL (NXGL) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was $11.4 million, up 31.5% year-over-year, driven by growth in branded consumer products, especially following the Silly George acquisition in May 2024.

• Gross profit increased to $4.5 million (39.5% margin), compared to $2.7 million (31.6% margin) in 2024.

• Net loss attributable to stockholders was $3.0 million, an improvement from a $3.3 million loss in 2024.

• The company continues to focus on expanding its consumer product portfolio and contract manufacturing business, with ongoing investments in product development and strategic acquisitions.

Financial highlights

• Revenues: $11.4 million in 2025 vs. $8.7 million in 2024 (+31.5%).

• Gross profit: $4.5 million (39.5% margin) in 2025 vs. $2.7 million (31.6% margin) in 2024.

• Net loss: $3.0 million in 2025 vs. $3.3 million in 2024.

• Cash and equivalents at year-end: $317,000, with $741,000 in restricted cash.

• Working capital: $1.4 million at December 31, 2025, down from $2.6 million in 2024.

• No customer accounted for more than 10% of revenue in 2025 or 2024.

Outlook and guidance

• Management expects continued near-term losses but is focused on expanding sales channels, developing new products, and pursuing strategic acquisitions.

• Additional capital raises through debt or equity may be necessary to support growth and acquisitions.

• The company aims to achieve long-term profitability through growth in consumer products and contract manufacturing.