NEXGEL Q3 revenue up 69.6% to $568k; gross margin improves to 26%

NEXGEL, INC.

2022-Q3 EPS reported -$0.74 revenue$1,524,000

Revenue $568k, +69.6% YoY; growth driven by branded consumer products.
Gross profit margin 26%, improved from negative margin in prior year; anticipates continued expansion.
Operating expenses $1.2M include $220k one-time franchise tax; R&D spending increased to $193k from $0.
Cash and marketable securities $7.4M; expects runway through 2024 to support R&D growth.
Positive results from proof-of-concept study for diclofenac hydrogel pain patches; new proprietary amblyopia eye patch developed.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEXGEL, INC. reported third quarter ended September 30, 2022 results: revenue $568 thousand.

Period: third quarter ended September 30, 2022
Revenue: $568 thousand
Result: reported results

Exact text from the filing

demonstrated significant scar improvement in patients treated with SilverSeal. Third Quarter 2022 Financial Highlights Revenue for the three months ended September 30, 2022 was $568 thousand, an increase of 69.6%, when compared to $233 thousand for the three months ended September 30, 2021. The increase in overall revenue was due to sales growth in branded consumer

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Source: SEC EDGAR

accession 0001493152-22-030972

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