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NXGL on Nasdaq

NEXGEL, INC.

NEXGEL, INC. is an American surgical and medical instruments and apparatus company.1 It is headquartered in Langhorne, Pennsylvania.1 Its shares trade on Nasdaq under the symbol NXGL.1

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Last updated Oct 21, 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.4 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 margin5
-29.3%Operating margin5
-26.3%Net margin5
31.5%Revenue growth, 20255
-67.3%Return on equity5
0.13×Debt to equity5
-$1.4MFree cash flow5

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.5 The company lost money this year.

Financial statements

Revenue6789105$11.4M in 2025+1493% since 2019
0$5.0M$10.0M$15.0M2019: $717.0K$717.0K20192020: $674.0K$674.0K2020−6%2021: $1.6M$1.6M2021+130%2022: $2.0M$2.0M2022+32%2023: $4.1M$4.1M2023+100%2024: $8.7M$8.7M2024+112%2025: $11.4M$11.4M2025+31%
Gross profit6789105$4.5M in 2025
-$2.0M0$2.0M$4.0M$6.0M2019: -$137.0K-$137.0K20192020: -$291.0K-$291.0K2020+112%2021: $8.0K$8.0K20212022: $256.0K$256.0K2022+3100%2023: $374.0K$374.0K2023+46%2024: $2.7M$2.7M2024+635%2025: $4.5M$4.5M2025+64%
Operating income6789105-$3.4M in 2025+74% since 2019
-$4.0M-$3.0M-$2.0M-$1.0M02019: -$1.9M-$1.9M20192020: -$2.3M-$2.3M2020+17%2021: -$2.6M-$2.6M2021+14%2022: -$3.3M-$3.3M2022+30%2023: -$3.5M-$3.5M2023+4%2024: -$3.6M-$3.6M2024+2%2025: -$3.4M-$3.4M2025−6%
Net income6789105-$3.0M in 2025+56% since 2019
-$6.0M-$4.0M-$2.0M02019: -$1.9M-$1.9M20192020: -$2.3M-$2.3M2020+18%2021: -$4.3M-$4.3M2021+90%2022: -$4.7M-$4.7M2022+10%2023: -$3.2M-$3.2M2023−33%2024: -$3.3M-$3.3M2024+4%2025: -$3.0M-$3.0M2025−9%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
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 - basic7.9M shares6.5M shares
Weighted average shares used in computing net loss per common share - diluted7.9M shares6.5M shares

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Corporate structure

NEXGEL, INC. sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of NEXGEL, INC.

  • Asymmetry Point LP Filed SCHEDULE 13G/A on NEXGEL, INC., latest Apr 29, 2026 (2 filings since Mar 12, 2026)
  • NEXGEL, INC. Langhorne, Pennsylvania
    • CG Converting and Packaging, LLC (50% owned) Subsidiary · Texas, United States
    • Sport Defense LLC (wholly owned) Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What NEXGEL, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$3.3M5 Dec 31, 2025$3.3M5 Dec 31, 2024+2.1%
Accumulated depreciation$1.4M5 Dec 31, 2025$1.0M5 Dec 31, 2024+31.0%
Property and equipment, net$2.0M5 Dec 31, 2025$2.2M5 Dec 31, 2024−11.6%
Operating-lease assets (leased space)$2.0M5 Dec 31, 2025$1.6M5 Dec 31, 2024+23.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.1M5 Dec 31, 2025$1.1M5 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$681.0K5 Dec 31, 2025$807.0K5 Dec 31, 2024−15.6%
Indefinite-lived intangibles (excluding goodwill)$600.0K5 Dec 31, 2025
Finite-lived intangibles, gross$807.0K10 Dec 31, 2024
Accumulated amortization$600.0K10 Dec 31, 2024
Finite-lived intangibles, net$81.0K5 Dec 31, 2025$207.0K10 Dec 31, 2024−60.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$2.1M5 Dec 31, 2025$1.8M5 Dec 31, 2024+20.6%
Raw materials$1.4M5 Dec 31, 2025$769.0K5 Dec 31, 2024+78.7%
Work in process$47.0K5 Dec 31, 2025$25.0K5 Dec 31, 2024+88.0%
Finished goods$961.0K5 Dec 31, 2025$1.0M5 Dec 31, 2024−4.2%

Properties, in its own words

We maintain a combined corporate office and manufacturing facility in Langhorne, Pennsylvania, where we lease approximately 16,500 square feet of office and manufacturing space which expires on January 31, 2031. In addition, we sublease approximately 6,200 square feet of a 12,000 square foot combined office and manufacturing facility in Granbury, Texas for our JV. The lease expires in March 2028. We believe that our facilities are well maintained and are suitable and adequate for our current needs.

Item 2 of the 10-K filed Mar 31, 2026.4

Leadership

Who has led NEXGEL, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. David Ian Johnson2019

Chief financial officer

  1. Adam E. Drapczuk Iii.2022–2024
  2. Joseph F. McGuire2025
  3. Ian Howard Blackman2026–now
20202025
Board members and other officers (10)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • CG Converting and Packaging, LLC (50% owned) Texas3
  • Sport Defense LLC (wholly owned) Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • AquaMed Technologies, Inc.Aug 28, 2009 to Nov 14, 20192

Timeline

  1. Oct 7, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed26
  2. Sep 24, 20268-K Regulation FD disclosure27
  3. Sep 23, 20268-K Shareholder vote28
  4. Aug 21, 20268-K Executive or director change29
  5. Aug 17, 20268-K Results of operations30
  6. Aug 5, 20268-K Shareholder vote31
  7. Jul 29, 20268-K Executive or director change32
  8. Jul 9, 20268-K Other events33
  9. Jul 2, 20268-K Executive or director change34
  10. Jun 17, 20268-K Regulation FD disclosure35
  11. May 15, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares36
  12. May 12, 20268-K Executive or director change; Other events37
  13. Jun 21, 2019New chief executive David Ian Johnson becomes CEO13

Calendar

Coming up

  1. Nov 10, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($1.60) a share, on Nov 11, 2025.38

When it reported results

  1. Aug 17, 2026Reported quarterly or annual results30
  2. Nov 12, 2025Reported quarterly or annual results39
  3. Aug 12, 2025Reported quarterly or annual results40
  4. May 13, 2025Reported quarterly or annual results41
  5. Mar 24, 2025Reported quarterly or annual results42
  6. Jan 22, 2025Reported quarterly or annual results43
  7. Nov 14, 2024Reported quarterly or annual results44
  8. Oct 10, 2024Reported quarterly or annual results45

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

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:

  1. Oct 7, 20268-K EDGAR
  2. Sep 30, 2026144 EDGAR
  3. Sep 24, 20268-K EDGAR
  4. Sep 23, 20268-K EDGAR
  5. Aug 24, 2026DEF 14A EDGAR
  6. Aug 21, 20268-K EDGAR
  7. Aug 20, 2026S-1 EDGAR
  8. Aug 17, 20268-K EDGAR
  9. Aug 17, 202610-Q EDGAR
  10. Aug 17, 2026NT 10-Q EDGAR
  11. Aug 14, 2026PRE 14A EDGAR
  12. Aug 5, 20268-K EDGAR
  13. Jul 29, 20264 EDGAR
  14. Jul 29, 20268-K EDGAR
  15. Jul 9, 20268-K EDGAR
  16. Jul 2, 20268-K EDGAR
  17. Jun 23, 20264 EDGAR
  18. Jun 17, 20268-K EDGAR
  19. Jun 15, 20264 EDGAR
  20. 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.

DateWhoTradeSharesPriceValueFiling
Jun 23, 2026Levy Adam R.Chief Executive OfficerSale5,000$0.59$3.0KForm 4
Jun 18, 2026Levy Adam R.Chief Executive OfficerSale6,000$0.59$3.5KForm 4
Jun 11, 2026Levy Adam R.Chief Executive OfficerSale3,000$0.61$1.8KForm 4
Jun 8, 2026Levy Adam R.Chief Executive OfficerSale3,000$0.55$1.6KForm 4
Jun 4, 2026Levy Adam R.Chief Executive OfficerSale3,000$0.59$1.8KForm 4
Jun 1, 2026Levy Adam R.Chief Executive OfficerSale2,000$0.59$1.2KForm 4
May 29, 2026Levy Adam R.Chief Executive OfficerSale3,000$0.60$1.8KForm 4
May 28, 2026Levy Adam R.Chief Executive OfficerSale7,000$0.61$4.3KForm 4
May 27, 2026Levy Adam R.Chief Executive OfficerSale3,000$0.60$1.8KForm 4
Dec 24, 2025Levy Adam R.Chief Executive OfficerSale4,000$1.57$6.3KForm 4
Dec 22, 2025Levy Adam R.Chief Executive OfficerSale6,000$1.61$9.7KForm 4
Nov 6, 2025Levy Adam R.Chief Executive OfficerSale4,000$2.52$10.1KForm 4
Oct 3, 2025Henry Scott RobertDirectorSale7,175$2.55$18.3KForm 4
Oct 3, 2025Levy Adam R.Chief Executive OfficerSale2,400$2.55$6.1KForm 4
Oct 2, 2025Henry Scott RobertDirectorSale825$2.50$2.1KForm 4
Oct 2, 2025Levy Adam R.Chief Executive OfficerSale1,600$2.50$4.0KForm 4
Sep 25, 2025Henry Scott RobertDirectorSale7,697$2.36$18.2KForm 4
Aug 28, 2025Levy Adam R.Chief Executive OfficerSale4,000$2.47$9.9KForm 4
Jun 13, 2025Henry Scott RobertDirectorSale3,000$2.57$7.7KForm 4
Jun 11, 2025Levy Adam R.Chief Executive OfficerSale2,000$2.39$4.8KForm 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.

SEC filer profile

How NEXGEL, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNEXGEL, INC.1
  • CIK0001468929
  • Employer ID (EIN)26-40425444
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address2150 Cabot Blvd West,, Suite B, Langhorne, PA 190471
  • Phone215 702-85501
  • Shares outstanding9,747,663 as of Aug 14, 202612
  • Public float$11.0M as of Jun 30, 20254
  • AuditorTurner, Stone & Company, L.L.P., Dallas, Texas PCAOB ID 76; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceAug 28, 20091
  • Filings327 in all: 4 (95), 8-K (94), 10-Q (22), 3 (15), 144 (10), CORRESP (10), 10-K (7), DEF 14A (7)1
    All 38 form types

    D (6), S-1/A (6), 424B5 (5), UPLOAD (5), 10-K/A (4), EFFECT (4), NT 10-Q (4), PRE 14A (4), S-1 (4), DEF 14C (2), PRE 14C (2), S-3/A (2), SC 13D (2), 10-12G (1), 4/A (1), 424B3 (1), 424B4 (1), 8-A12B (1), CERT (1), DEFA14A (1), DEFR14A (1), DRS (1), DRSLTR (1), NT 10-K (1), RW (1), S-1MEF (1), S-3 (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 17, 2026
    Proxy statement (DEF 14A) Aug 24, 2026
    Latest 8-K (8-K) Oct 7, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001NXGLNasdaq
Warrants to Purchase Common StockNXGLWNasdaq

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks NEXGEL, INC. names in Item 1A of its 10-K filed Mar 31, 2026: 29 risks under these headings, as written.4

  • Risks Relating to Our Business
  • Our future success depends upon market acceptance of our existing and future products.
  • Our suppliers may fail to deliver components and raw materials and parts according to schedules, prices, quality and volumes that are acceptable to us, or we may be unable to manage these components and raw materials effectively.
  • We rely heavily on the Amazon and Shopify marketplaces for the sales and distribution of our consumer products, and if we are unable to maintain a good relationship with Amazon and/or Shopify or if Amazon and/or Shopify experience disruptions, our business will suffer.
  • We have no contracts in place with our customers in either our contract manufacturing or consumer products business. The absence of such contracts could result in periods during which we must continue to pay costs without revenues.
  • We operate in a highly competitive industry.
  • As we enter the consumer product business sector to a larger extent, our failure to compete successfully could materially harm our business, financial condition, and operating results.
  • Our failure to appropriately respond to changing consumer trends, preferences, and demand for new products and product enhancements could materially harm our business, financial condition, and operating results.
  • If we fail to further penetrate existing markets, the sales of our consumer products, along with our operating results, could be negatively impacted.
  • We are subject to governmental regulations in all aspects of our business.
  • As we continue to develop our medical devices, if we fail to protect our intellectual property in the future, our ability to compete could be negatively affected, which could materially harm our financial condition and operating results.
  • We have limited sales, marketing and distribution capabilities.
The other 18 risks
  • Our products risk exposure to product liability claims.
  • We are reliant upon two manufacturers for key ingredients used to manufacture of our hydrogels.
  • We have a history of operating losses and may require but have difficulty or be unsuccessful in raising potentially needed capital in the future to continue to operate as a going concern.
  • Our ability to provide customers with competitive services is dependent on our ability to attract and retain qualified personnel, including our senior management team.
  • Changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters could significantly affect our financial results or financial condition.
  • Our ability to pursue strategic partnerships may impact our ability to compete in the markets we serve or desire to enter.
  • Risks Relating to our Common Stock and Capital Structure
  • An active trading market may not develop or be sustained, and our stock price may fluctuate significantly once we do trade.
  • Our failure to meet the continued listing requirements of The Nasdaq Capital Market could result in a delisting of our common stock and warrants.
  • We cannot assure you that we will pay dividends on our common stock, and our indebtedness may limit our ability to pay dividends on our common stock.
  • The interests of our principal stockholders, officers and directors, who collectively beneficially own approximately 16.3% of our stock, may not coincide with yours and such stockholders will have the ability to control decisions with which you may disagree.
  • We have identified material weaknesses in connection with our internal control over financial reporting which, if not remediated, could adversely affect our business, reputation and stock price.
  • If securities or industry analysts do not publish research about our business, or publish negative reports about our business, our share price and trading volume could decline.
  • Future sales or potential sales of our common stock in the public market could cause our share price to decline.
  • We may issue additional securities in the future upon conversion or exercise of outstanding securities which would result in dilution to our stockholders.
  • We are an “emerging growth company” and a “smaller reporting company” and may elect to comply with reduced public company reporting requirements applicable to emerging growth companies, and are subject to lesser public company reporting requirements applicable to smaller reporting companies, which could make our common stock less attractive to investors.
  • We will incur costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives.
  • Provisions in our Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws and of Delaware law may prevent or delay an acquisition of our company, which could decrease the trading price of our common stock.
  • Our Amended and Restated Bylaws include a forum selection clause, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us.

Legal proceedings

From time to time, we may become involved in lawsuits, investigations and claims that arise in the ordinary course of business. As of the date of this information statement, we are not a party to any litigation whereby the outcome of such litigation, if determined adversely to us, would materially affect our financial position, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.4

Sources

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