NEXGEL full-year 2022 revenue up 32% to $2.05M; gross margin improves to 12.5%

NEXGEL, INC.

Revenue $2.05M (+32% YoY); Q4 revenue $524K (slight decrease from $533K).
Gross profit margin improved to 12.5% for FY2022 vs 0.5% in FY2021.
Cash and securities $6.6M as of Dec 31, 2022; sufficient to fund operations through 2025.
Net loss $4.75M vs $4.31M in prior year; paid off convertible debt reducing future interest expense.
Launched Turfguard hydrogel dressing; entered joint venture with CG Labs (50% interest); appointed new director.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEXGEL, INC. reported fourth quarter of 2022 results: revenue $524 thousand.

Period: fourth quarter of 2022
Revenue: $524 thousand
Result: reported results

Exact text from the filing

For the fourth quarter of 2022, revenue totaled $524 thousand, a slight decrease as compared to $533 thousand in the fourth quarter of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEXGEL, INC. reported the year ended December 31, 2022 results: revenue $2.05 million.

Period: the year ended December 31, 2022
Revenue: $2.05 million
Result: reported results

Exact text from the filing

For the year ended December 31, 2022, revenue totaled $2.05 million, an increase of $497 thousand, or 32%, when compared to $1.55 million for the year ended December 31, 2021.

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NEXGEL, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-009099

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