---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-009099"
form_type: "8-K"
ticker: "NXGL"
cik: "0001468929"
company_name: "NEXGEL, INC."
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T14:44:14.447974+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-009099
- form_type: 8-K
- ticker: NXGL
- cik: 0001468929
- company_name: NEXGEL, INC.
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1468929/000149315223009099/0001493152-23-009099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1468929/000149315223009099/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-009099
- JSON: https://secwatch.observer/filing/0001493152-23-009099.json
- Plain text: https://secwatch.observer/filing/0001493152-23-009099.txt

## Key facts
- Earnings Releases
  NEXGEL, INC. reported fourth quarter of 2022 results: revenue $524 thousand.
  - Period: fourth quarter of 2022
  - Revenue: $524 thousand
  - Result: reported results
  source text: For the fourth quarter of 2022, revenue totaled $524 thousand, a slight decrease as compared to $533 thousand in the fourth quarter of 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468929/000149315223009099/0001493152-23-009099-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468929/000149315223009099/0001493152-23-009099-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.