Nexgel, Inc. ( (NXGL) ) has released its Q4 earnings. Here is a breakdown of the information Nexgel, Inc. presented to its investors.
NEXGEL, Inc., based in Langhorne, Pennsylvania, is a prominent provider of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, known for its innovative solutions in the healthcare and beauty sectors. The company recently reported record financial results for the fourth quarter and full year of 2024, highlighting significant revenue growth and strategic advancements.
In the fourth quarter of 2024, NEXGEL achieved a remarkable 181% increase in revenue, reaching $3.04 million compared to $1.08 million in the same period the previous year. For the full year, revenue surged by 112% to $8.69 million, marking the third consecutive year of over 100% growth. The company also reported a narrowing net loss and improved EBITDA figures, driven by strong sales in branded consumer products and contract manufacturing.
Key financial highlights include a gross profit of $1.13 million for Q4 2024, up from $0.09 million in Q4 2023, and a gross profit margin increase to 37.2%. Despite a net loss of $0.85 million in Q4 2024, this was an improvement over the $1.10 million loss in Q4 2023. The company’s strategic moves, such as the acquisition of the Silly George brand and a supply agreement with Cintas for SilverSeal, contributed to its robust performance.
Looking ahead, NEXGEL has issued revenue guidance of $13 million for 2025 and expects to achieve positive EBITDA during the year. The company remains optimistic about its growth trajectory, supported by a healthy pipeline of potential new customers and continued product innovation.