LANGHORNE, PA — NEXGEL, Inc. (Nasdaq: NXGL) reported third quarter 2025 results showing stable revenue and improved margins as the hydrogel manufacturer continued to advance both its contract manufacturing and consumer-branded businesses.
The company generated $2.93 million in revenue for the quarter ended September 30, essentially unchanged from the same period last year. Gross profit rose to $1.24 million, up from $1.16 million a year earlier, with gross margin improving to 42.4% from 39.3%, driven by lower materials and production costs.
Operating expenses held roughly steady at $1.96 million compared with $1.94 million in the prior-year quarter. NEXGEL posted a net loss attributable to stockholders of $0.65 million, slightly narrower than the $0.69 million loss a year earlier.
CEO Adam Levy said the company’s focus on operational discipline and consistent execution across its segments is beginning to show results. He cited growing demand in contract manufacturing—including work with Cintas—and rising traction for its consumer beauty and skincare brands as key contributors to momentum.
EBITDA came in at ($0.55) million, compared with ($0.49) million in the third quarter of 2024, while adjusted EBITDA remained flat year-over-year at ($0.35) million. As of September 30, NEXGEL held $938,000 in cash and an additional $920,000 in restricted cash tied to non-dilutive funding from STADA.
The company ended the quarter with 8.14 million shares outstanding.
NEXGEL, which specializes in ultra-gentle, high-water-content hydrogels used in healthcare, beauty and over-the-counter products, continues to balance new product launches with expansion across its contract manufacturing network.
The company said it remains committed to advancing both sides of its business while targeting sustainable growth and broader market reach in the quarters ahead.
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