NXGL on Nasdaq
NEXGEL, INC.
American surgical and medical instruments and apparatus company. Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerNXGL on Nasdaq1
- IndustrySurgical & Medical Instruments & Apparatus1
- HeadquartersLanghorne, Pennsylvania1
- Incorporated inDE2
- Business address2150 Cabot Blvd West,, Suite B, Langhorne, Pa 190472
- Filer category, Emerging growth company2
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United States. We use commission-based, fractional sales personnel to supplement our in-house efforts.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
39.5%Gross margin4
-29.3%Operating margin4
-26.3%Net margin4
31.5%Revenue growth, 20254
-67.3%Return on equity4
0.13×Debt to equity4
-$1.4MFree cash flow4
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue47¢$6.9M
- Research and development0¢$2.0K
- Selling, general and admin53¢$7.9M
Out of $11.4M in revenue.4 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenues, net | $11.4M | $8.7M |
| Cost of revenues | $6.9M | $5.9M |
| Gross profit | $4.5M | $2.7M |
| Research and development | $2.0K | $78.0K |
| Selling, general and administrative | $7.9M | $6.2M |
| Total operating expenses | $7.9M | $6.3M |
| Loss from operations | -$3.4M | -$3.6M |
| Change in fair value of warrant liability, net of warrant modification expense | $118.0K | $28.0K |
| Realized gain on investments in marketable securities | $68.0K | |
| Interest expense, net | -$34.0K | -$81.0K |
| Change in fair value of contingent consideration | -$18.0K | |
| Gain in spin-off of NexGelRx | $162.0K | |
| Other expense | -$73.0K | -$4.0K |
| Other income | $286.0K | $98.0K |
| Total other income (expense), net | $459.0K | $91.0K |
| Loss before income taxes | -$2.9M | -$3.5M |
| Net loss | -$2.9M | -$3.5M |
| Less: Loss attributable to non-controlling interest in joint venture | -$107.0K | $182.0K |
| Net loss attributable to NexGel stockholders | -$3.0M | -$3.3M |
| Net loss per common share - basic | -$0.38 | -$0.50 |
| Net loss per common share - diluted | -$0.38 | -$0.50 |
| Weighted average shares used in computing net loss per common share - basic | 7.9M shares | 6.5M shares |
| Weighted average shares used in computing net loss per common share - diluted | 7.9M shares | 6.5M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $317.0K | $1.8M | |
| Restricted cash | $741.0K | ||
| Accounts receivable, net | $673.0K | $933.0K | |
| Inventory | $2.1M | $1.8M | |
| Prepaid expenses and other current assets | $496.0K | $623.0K | |
| Total current assets | $4.3M | $5.1M | |
| Goodwill | $1.1M | $1.1M | |
| Intangibles, net | $681.0K | $807.0K | |
| Property and equipment, net | $2.0M | $2.2M | |
| Operating lease - right of use asset | $2.0M | $1.6M | |
| Investment in NexGelRx | $249.0K | ||
| Other assets | $95.0K | $95.0K | |
| Total assets | $10.5M | $11.0M | |
| Accrued expenses and other current liabilities | $460.0K | $310.0K | |
| Deferred revenue | $2.0K | $179.0K | |
| Current portion of note payable | $99.0K | $97.0K | |
| Partnership accrued advance | $731.0K | ||
| Warrant liability and contingent consideration liability | $296.0K | ||
| Current portion of finance lease liability | $65.0K | $59.0K | |
| Current portion of operating lease liability | $310.0K | $237.0K | |
| Total current liabilities | $3.0M | $2.5M | |
| Operating lease liability, net of current portion | $1.9M | $1.5M | |
| Finance lease liability, net of current portion | $242.0K | $307.0K | |
| Notes payable, net of current portion | $489.0K | $588.0K | |
| Total liabilities | $5.6M | $4.9M | |
| Common stock, par value $0.001 per share, 25,000,000 shares authorized; 8,143,133 and 7,638,497 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $8.0K | $8.0K | |
| Additional paid-in capital | $25.4M | $23.7M | |
| Accumulated deficit | -$21.0M | -$18.0M | |
| Total NexGel stockholders equity | $4.5M | $5.8M | |
| Non-controlling interest in joint venture | $432.0K | $325.0K | |
| Total stockholders equity | $4.9M | $6.1M | $5.2M |
| Total liabilities and stockholders equity | $10.5M | $11.0M | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 25.0M shares | 25.0M shares | |
| Common stock, shares issued | 8.1M shares | 7.6M shares | |
| Common stock, shares outstanding | 8.1M shares | 7.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $317.0K | $1.8M | |
| Restricted cash | $741.0K | ||
| Accounts receivable, net | $673.0K | $933.0K | |
| Inventory | $2.1M | $1.8M | |
| Prepaid expenses and other current assets | $496.0K | $623.0K | |
| Total current assets | $4.3M | $5.1M | |
| Goodwill | $1.1M | $1.1M | |
| Intangibles, net | $681.0K | $807.0K | |
| Property and equipment, net | $2.0M | $2.2M | |
| Operating lease - right of use asset | $2.0M | $1.6M | |
| Investment in NexGelRx | $249.0K | ||
| Other assets | $95.0K | $95.0K | |
| Total assets | $10.5M | $11.0M | |
| Accrued expenses and other current liabilities | $460.0K | $310.0K | |
| Deferred revenue | $2.0K | $179.0K | |
| Current portion of note payable | $99.0K | $97.0K | |
| Partnership accrued advance | $731.0K | ||
| Warrant liability and contingent consideration liability | $296.0K | ||
| Current portion of finance lease liability | $65.0K | $59.0K | |
| Current portion of operating lease liability | $310.0K | $237.0K | |
| Total current liabilities | $3.0M | $2.5M | |
| Operating lease liability, net of current portion | $1.9M | $1.5M | |
| Finance lease liability, net of current portion | $242.0K | $307.0K | |
| Notes payable, net of current portion | $489.0K | $588.0K | |
| Total liabilities | $5.6M | $4.9M | |
| Common stock, par value $0.001 per share, 25,000,000 shares authorized; 8,143,133 and 7,638,497 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $8.0K | $8.0K | |
| Additional paid-in capital | $25.4M | $23.7M | |
| Accumulated deficit | -$21.0M | -$18.0M | |
| Total NexGel stockholders equity | $4.5M | $5.8M | |
| Non-controlling interest in joint venture | $432.0K | $325.0K | |
| Total stockholders equity | $4.9M | $6.1M | $5.2M |
| Total liabilities and stockholders equity | $10.5M | $11.0M | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 25.0M shares | 25.0M shares | |
| Common stock, shares issued | 8.1M shares | 7.6M shares | |
| Common stock, shares outstanding | 8.1M shares | 7.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$2.9M | -$3.5M |
| Depreciation and amortization | $450.0K | $436.0K |
| Share-based compensation | $654.0K | $367.0K |
| Realized gain on investment in marketable securities | -$68.0K | |
| Change in fair value of warrant liability | -$118.0K | -$28.0K |
| Change in fair value of contingent consideration | $18.0K | |
| Amortization of right of use asset | $290.0K | $227.0K |
| Gain in spin-off of NexGelRx | -$162.0K | |
| Accounts receivable, net | $260.0K | -$300.0K |
| Inventory | -$360.0K | -$432.0K |
| Prepaid expenses and other current assets | $127.0K | -$223.0K |
| Accounts payable | -$38.0K | $182.0K |
| Accounts payable related party | $35.0K | -$123.0K |
| Accrued expenses and other current liabilities | $150.0K | -$434.0K |
| Partnership advance | $731.0K | |
| Deferred revenue | -$177.0K | $159.0K |
| Operating lease liability | -$260.0K | -$185.0K |
| Net Cash Used in Operating Activities | -$1.3M | -$3.9M |
| Purchases of equipment | -$68.0K | -$443.0K |
| Investment in subsidiary | -$400.0K | |
| Proceeds from sales of marketable securities | $68.0K | |
| Net Cash Provided by (Used in) Investing Activities | -$68.0K | -$775.0K |
| Payment of contingent consideration | -$177.0K | -$279.0K |
| Proceeds from rights offering | $963.0K | $3.8M |
| Principal payments of notes payable | -$97.0K | -$77.0K |
| Proceeds from non-controlling interest | $38.0K | |
| Principal payment of financing lease liability | -$59.0K | -$50.0K |
| Proceeds from margin line of credit | $345.0K | |
| Net Cash Provided by Financing Activities | $630.0K | $3.7M |
| Net Increase (Decrease) in Cash (*) | -$749.0K | -$893.0K |
| Warrants issued in conjunction with investment in NexgelRx | $87.0K | $200.0K |
| Additional ROU assets and operating lease liabilities from lease modification | $677.0K | |
| Shares issued in conjunction with asset acquisition | $200.0K | |
| Property and equipment financed under notes payable | $169.0K | |
| Property and equipment financed under financing leases | $416.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led NEXGEL, INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
20202025
- Chief executive officerDavid Ian Johnson Jun 21, 2019 to Jun 21, 201912
- Chief financial officerIan Howard Blackman May 7, 2026 to now13
- Chief financial officerJoseph F. McGuire Jan 6, 2025 to Jan 6, 202514
- Chief financial officerAdam E. Drapczuk Iii. May 31, 2022 to Nov 22, 202415
Board members and other officers (10)
- Board memberBrian Joseph Kieser May 18, 2026 to now16
- Board memberSteven Ciardiello Aug 5, 2025 to now17
- Board memberScott Robert Henry Jan 17, 2023 to now18
- Board memberJerome B. Zeldis Mar 12, 2021 to now19
- Board memberSteven Mark Glassman Mar 26, 2021 to now20
- Board memberMiranda Jayne Toledano Sep 15, 2021 to Aug 21, 202321
- Board memberYaakov Spinrad Oct 20, 2021 to Aug 31, 202222
- Board memberDavid Ian Johnson Jun 21, 2019 to Jun 21, 201912
- Board memberNachum Stein Oct 2, 2019 to now23
- Board memberDavid Stefansky Oct 8, 2019 to Aug 21, 202324
Former names
- AquaMed Technologies, Inc.Aug 28, 2009 to Nov 14, 20192
Timeline
- Jun 21, 2019New chief executive David Ian Johnson becomes CEO12
Filings
257 filings to the SEC since October 2021: 8 annual reports, 15 quarterly reports, 78 major events, 98 insider forms, 2 large holders, 56 other. The latest 20:
- Oct 7, 20268-K EDGAR
- Sep 30, 2026144 EDGAR
- Sep 24, 20268-K EDGAR
- Sep 23, 20268-K EDGAR
- Aug 24, 2026DEF 14A EDGAR
- Aug 21, 20268-K EDGAR
- Aug 20, 2026S-1 EDGAR
- Aug 17, 20268-K EDGAR
- Aug 17, 202610-Q EDGAR
- Aug 17, 2026NT 10-Q EDGAR
- Aug 14, 2026PRE 14A EDGAR
- Aug 5, 20268-K EDGAR
- Jul 29, 20264 EDGAR
- Jul 29, 20268-K EDGAR
- Jul 9, 20268-K EDGAR
- Jul 2, 20268-K EDGAR
- Jun 23, 20264 EDGAR
- Jun 17, 20268-K EDGAR
- Jun 15, 20264 EDGAR
- Jun 9, 20264 EDGAR
The 257 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
97 open-market trades by officers, directors and large owners since October 2021: 62 buys and 35 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 23, 2026 | Levy Adam R.Chief Executive Officer | Sale | 5,000 | $0.59 | $3.0K | Form 4 |
| Jun 18, 2026 | Levy Adam R.Chief Executive Officer | Sale | 6,000 | $0.59 | $3.5K | Form 4 |
| Jun 11, 2026 | Levy Adam R.Chief Executive Officer | Sale | 3,000 | $0.61 | $1.8K | Form 4 |
| Jun 8, 2026 | Levy Adam R.Chief Executive Officer | Sale | 3,000 | $0.55 | $1.6K | Form 4 |
| Jun 4, 2026 | Levy Adam R.Chief Executive Officer | Sale | 3,000 | $0.59 | $1.8K | Form 4 |
| Jun 1, 2026 | Levy Adam R.Chief Executive Officer | Sale | 2,000 | $0.59 | $1.2K | Form 4 |
| May 29, 2026 | Levy Adam R.Chief Executive Officer | Sale | 3,000 | $0.60 | $1.8K | Form 4 |
| May 28, 2026 | Levy Adam R.Chief Executive Officer | Sale | 7,000 | $0.61 | $4.3K | Form 4 |
| May 27, 2026 | Levy Adam R.Chief Executive Officer | Sale | 3,000 | $0.60 | $1.8K | Form 4 |
| Dec 24, 2025 | Levy Adam R.Chief Executive Officer | Sale | 4,000 | $1.57 | $6.3K | Form 4 |
| Dec 22, 2025 | Levy Adam R.Chief Executive Officer | Sale | 6,000 | $1.61 | $9.7K | Form 4 |
| Nov 6, 2025 | Levy Adam R.Chief Executive Officer | Sale | 4,000 | $2.52 | $10.1K | Form 4 |
| Oct 3, 2025 | Henry Scott RobertDirector | Sale | 7,175 | $2.55 | $18.3K | Form 4 |
| Oct 3, 2025 | Levy Adam R.Chief Executive Officer | Sale | 2,400 | $2.55 | $6.1K | Form 4 |
| Oct 2, 2025 | Henry Scott RobertDirector | Sale | 825 | $2.50 | $2.1K | Form 4 |
| Oct 2, 2025 | Levy Adam R.Chief Executive Officer | Sale | 1,600 | $2.50 | $4.0K | Form 4 |
| Sep 25, 2025 | Henry Scott RobertDirector | Sale | 7,697 | $2.36 | $18.2K | Form 4 |
| Aug 28, 2025 | Levy Adam R.Chief Executive Officer | Sale | 4,000 | $2.47 | $9.9K | Form 4 |
| Jun 13, 2025 | Henry Scott RobertDirector | Sale | 3,000 | $2.57 | $7.7K | Form 4 |
| Jun 11, 2025 | Levy Adam R.Chief Executive Officer | Sale | 2,000 | $2.39 | $4.8K | Form 4 |
All 97 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Asymmetry Point LPSCHEDULE 13G/A, 2 filings Mar 12, 2026 to Apr 29, 202625
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARNEXGEL, INC. filings on SEC EDGAR
- 2SEC EDGARNEXGEL, INC. filings on SEC EDGAR
- 3
- 4SEC EDGARNEXGEL, INC. 10-K for fiscal 2025
- 5SEC EDGARNEXGEL, INC. 10-K for fiscal 2019
- 6SEC EDGARNEXGEL, INC. 10-K for fiscal 2020
- 7SEC EDGARNEXGEL, INC. 10-K for fiscal 2021
- 8SEC EDGARNEXGEL, INC. 10-K for fiscal 2022
- 9SEC EDGARNEXGEL, INC. 10-K for fiscal 2023
- 10SEC EDGARNEXGEL, INC. 10-Q for fiscal 2026
- 11SEC EDGARNEXGEL, INC. 10-Q for fiscal 2026
- 12
- 13
- 14
- 15
- 16SEC EDGARBrian Joseph Kieser, Board member
- 17SEC EDGARSteven Ciardiello, Board member
- 18SEC EDGARScott Robert Henry, Board member
- 19SEC EDGARJerome B. Zeldis, Board member
- 20SEC EDGARSteven Mark Glassman, Board member
- 21SEC EDGARMiranda Jayne Toledano, Board member
- 22SEC EDGARYaakov Spinrad, Board member
- 23SEC EDGARNachum Stein, Board member
- 24SEC EDGARDavid Stefansky, Board member
- 25