NEXGEL reports record Q2 revenue of $1.44M, net loss widens to $979K

NEXGEL, INC.

2024-Q2 EPS reported -$0.28 revenue$2,706,000

Record Q2 revenue $1.44M, up 23.4% YoY; gross margin improved to 28.5% from 15.0%.
Net loss $979K vs $642K YoY; SG&A up 57.4% due to marketing for Kenkoderm and Silly George.
Issued Q3 guidance $2.2M (+83% YoY) and Q4 $2.6M (+140% YoY).
Closed $1.11M insider-led registered direct offering for working capital to meet Silly George demand.
Cash balance $1.1M as of June 30, 2024; believes sufficient to operate into 2025.

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