NEXGEL, Inc.
- Open
- 0.44
- Day high
- 0.48
- Day low
- 0.43
- Prev close
- 0.43
- Volume
- 188K
- Mkt cap
- $4M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.1
- P/S
- 0.4
- Yield
- —
- Per share
- —
- ▲Insiders net buying $1.8M over the last 3 months (6 open-market buys, 7 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions accumulating (13F)
NEXGEL, Inc. (NXGL) is a Healthcare company listed on NASDAQ. The stock is down 81% over the past year. Over the trailing 3 months, insiders filed 6 open-market buys and 7 sales (SEC Form 4).
NEXGEL, Inc. (NXGL) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NXGL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 15, 2026 | $-0.07 | $-0.11 | -57.1% | $3M | -32.2% |
| Mar 31, 2026 | $-0.09 | $-0.12 | -33.3% | $3M | -13.7% |
| Aug 12, 2025 | $-0.01 | $-0.09 | -800.0% | $3M | -16.4% |
| Mar 24, 2025 | $-0.10 | $-0.08 | +20.0% | $3M | +11.6% |
| Aug 19, 2024 | $-0.14 | $-0.14 | +0.0% | $1M | +2.5% |
| Apr 1, 2024 | $-0.11 | $-0.19 | -72.7% | $1M | -1.5% |
| Nov 13, 2023 | $-0.12 | $-0.10 | +16.7% | $1M | +1.8% |
| Aug 14, 2023 | $-0.13 | $-0.12 | +7.7% | $1M | +16.7% |
| May 15, 2023 | $-0.14 | $-0.15 | -7.1% | $620000 | +37.8% |
| Aug 10, 2022 | $-0.15 | $-0.19 | -26.7% | $561000 | +22.0% |
| May 12, 2022 | $-0.15 | $-0.33 | -120.0% | $396000 | -21.1% |
| Mar 21, 2022 | $-0.37 | $-0.29 | +20.4% | $533000 | +27.2% |
NXGL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 6,000 | $0.59 |
| Jun 23, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 5,000 | $0.59 |
| Jun 15, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 3,000 | $0.61 |
| Jun 9, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 3,000 | $0.59 |
| Jun 3, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 2,000 | $0.59 |
| May 29, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 3,000 | $0.60 |
| May 29, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 7,000 | $0.61 |
| May 18, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Buy | 100,000 | $0.60 |
| May 18, 2026 | Levy Adam R.director, officer: Chief Executive Officer | Buy | 50,000 | $0.80 |
| May 18, 2026 | Kieser Brian Josephdirector | Buy | 833,334 | $0.80 |
| May 18, 2026 | Henry Scott Robertdirector | Buy | 20,834 | $0.80 |
| May 18, 2026 | Kieser Brian Josephdirector | Buy | 1,666,667 | $0.60 |
| May 18, 2026 | Henry Scott Robertdirector | Buy | 41,667 | $0.60 |
| Dec 29, 2025 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 6,000 | $1.61 |
| Dec 29, 2025 | Levy Adam R.director, officer: Chief Executive Officer | Sell | 4,000 | $1.57 |
Source: NXGL SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full NXGL insider & 13F page →NEXGEL, Inc. company profile
Overview
NEXGEL, Inc. (NASDAQ:NXGL) is a specialty hydrogel manufacturer founded in 1997 and based in Langhorne, Pennsylvania. Originally known as AquaMed Technologies, Inc., the company changed its name to NEXGEL in November 2019 and went public in December 2021. The company specializes in manufacturing high water content, electron beam cross-linked aqueous polymer hydrogels that serve multiple industries including wound care, medical diagnostics, transdermal drug delivery, and cosmetics. Over the past few years, NEXGEL has transformed from a primarily contract manufacturing business into a diversified company with both manufacturing services and branded consumer products.
Business
NEXGEL operates in the specialized hydrogel manufacturing industry, producing water-based polymer gels through a proprietary electron beam cross-linking process. Hydrogels are three-dimensional networks of water-absorbing polymers that can retain large amounts of water while maintaining their structure - think of them as sophisticated, medical-grade versions of the gel materials found in contact lenses or wound dressings. The company operates through two primary business segments: Contract Manufacturing (approximately 30% of revenue): NEXGEL manufactures hydrogel products for other companies across various applications. This includes medical device components like gel pads for ultrasound equipment, transdermal drug delivery patches, and specialized medical diagnostics products. Key customers include major corporations like AbbVie, for whom NEXGEL produces gel pads for acoustic medical devices, and industrial distributors like Cintas and Owens & Minor. Branded Consumer Products (approximately 70% of revenue): The company has developed and acquired several consumer brands. Medagel focuses on wound care products including the SilverSeal antimicrobial wound dressing. Kenkoderm specializes in dermatological products for conditions like psoriasis and eczema. Silly George, acquired in 2024, is a beauty brand offering eye care and cosmetic products including false eyelashes and beauty patches. The company also partners with European pharmaceutical company STADA to distribute digestive health products like Histasolv. The hydrogel technology platform allows NEXGEL to serve diverse end markets from medical devices to consumer cosmetics, leveraging the same core manufacturing capabilities across different applications.
Revenue model
NEXGEL generates revenue through multiple complementary business models. The contract manufacturing segment operates on a product sales model, where the company manufactures hydrogel components and finished products for other businesses. These customers pay for manufactured goods, typically under supply agreements with negotiated pricing. For example, the AbbVie partnership involves selling gel pads at $3.50-$5 per unit with gross margins exceeding 50%. The branded consumer products segment uses direct-to-consumer sales through e-commerce platforms like Amazon and Shopify, as well as retail distribution partnerships. The Silly George brand, for instance, generated $380,000 in a single month through its Shopify platform. The company also employs licensing and partnership models, such as its arrangement with STADA for European distribution of digestive health products. Several factors influence NEXGEL's margins and profitability. Positive margin drivers include the company's proprietary electron beam cross-linking technology, which creates differentiated products that can command premium pricing. The scalability of hydrogel manufacturing allows for improved margins as volumes increase. Strategic partnerships with established distributors like Cintas provide access to large customer bases without significant marketing costs. Margin pressures come from the capital-intensive nature of specialized manufacturing equipment and clean room facilities. Raw material costs for polymers and chemicals can fluctuate based on commodity prices. The company also faces competitive pressure in consumer markets where pricing power may be limited. Additionally, regulatory compliance costs for medical device applications and international market entry (such as MDR compliance for Europe) represent ongoing expenses that can impact margins.
Competitive moat
NEXGEL's competitive moat appears moderate but narrowing in strength. The company's primary defensive advantage lies in its specialized electron beam cross-linking technology for hydrogel manufacturing, which creates products with specific performance characteristics that are difficult to replicate with standard manufacturing processes. This technical expertise, combined with established relationships with major customers like AbbVie, provides some protection against competition. The company benefits from switching costs in its contract manufacturing business, as medical device and pharmaceutical customers typically undergo lengthy qualification processes for suppliers and are reluctant to change once products are approved and integrated into their systems. The regulatory compliance achieved for medical applications, including MDR certification for European markets, also creates barriers for competitors. However, NEXGEL's moat faces significant challenges. The hydrogel manufacturing industry is not particularly concentrated, and larger chemical and materials companies with greater resources could potentially replicate the technology. In consumer products, the company competes in highly fragmented markets with low barriers to entry, particularly in cosmetics and beauty products where brand loyalty can be fleeting. The company's small size relative to potential competitors represents both an opportunity and a vulnerability. While NEXGEL can be nimble and focus on niche applications, it lacks the scale advantages and R&D resources of larger materials science companies. The branded consumer products, while growing rapidly, operate in competitive markets where established brands with significant marketing budgets could easily crowd out smaller players.
Risks & safety
NEXGEL presents a moderate to high-risk investment profile with limited margin of safety based on current financial metrics. Liquidity and Solvency: - Cash position: $1.19 million as of Q1 2025, down from $1.81 million in Q4 2024 - Current ratio: 1.88, indicating adequate short-term liquidity coverage - Operating cash flow: Negative $400,000 in Q1 2025, improvement from negative $859,000 in Q4 2024 - Free cash flow: Negative $400,000 in Q1 2025 - Debt-to-equity ratio: 0.51, representing moderate leverage levels Valuation Metrics: - Price-to-book ratio: 4.37, indicating premium valuation relative to book value - EV/EBITDA: Negative due to negative EBITDA, making traditional valuation difficult - Revenue growth: Strong at 121% year-over-year in Q1 2025 - Company guidance: Targeting $13 million revenue in 2025 and positive EBITDA Other Considerations: - Small market capitalization of approximately $18 million creates liquidity risks - Heavy dependence on successful execution of growth initiatives and partnerships - Burn rate concerns given negative operating cash flows, though management projects profitability in 2025
Recent development
NEXGEL has undergone significant strategic transformation over the past few years, evolving from a primarily contract manufacturing business into a diversified hydrogel company with branded consumer products. The most notable development was the acquisition of Silly George in May 2024 for $600,000, which immediately expanded the company's presence in the beauty and cosmetics market. This brand has exceeded expectations, growing from a projected $2 million to $5 million annual revenue run rate. The company has aggressively expanded its manufacturing capabilities, doubling the square footage of its Texas facility and investing in automated machinery and clean room facilities to support both contract manufacturing growth and regulatory compliance. A key milestone was achieving MDR compliance for European markets, opening opportunities for medical device sales internationally. Strategic partnerships have become central to NEXGEL's growth strategy. The AbbVie partnership for gel pads used in acoustic medical devices represents a significant contract manufacturing opportunity, though product launch has been delayed to 2025. The Cintas Corporation partnership provides distribution for the SilverSeal wound care product, while the STADA partnership has successfully launched Histasolv in European markets with additional digestive enzyme products planned. Recent innovation efforts include an institutional review board study for hydrogel applications in laser hair removal, representing potential entry into a large and growing aesthetic medical market. The company has also expanded its product portfolios across all branded segments, with Medagel launching burn and wound care kits, Kenkoderm expanding into eczema treatments, and Silly George diversifying beyond eye products into broader beauty applications including lip care and skincare patches.
NXGL company profile · for informational purposes only — not investment advice.
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