NEXGEL Preannounces Expected Record Third Quarter 2024 Revenue of $2.85 Million, an Increase of Approximately 133% Year-Over-Year and 98% Sequentially
NEXGEL (NASDAQ: NXGL) has preannounced expected record third quarter 2024 revenue of $2.85 million, representing a 133% year-over-year increase and a 98% sequential increase. This figure surpasses the company's previous guidance of $2.20 million by approximately 30%. The growth is attributed to significant increases in both branded consumer products and contract manufacturing segments.
CEO Adam Levy highlighted strong performance across all three brands, particularly the beauty brand Silly George. The contract manufacturing segment has also rebounded following recent expansion initiatives, including doubling square footage and installing new automated machinery. NEXGEL anticipates continued positive momentum in Q4, with the first order of SilverSeal to be delivered to Cintas. The company will report full Q3 2024 financial results on or before November 14, 2024.
NEXGEL (NASDAQ: NXGL) ha preannunciato un fatturato record previsto per il terzo trimestre 2024 di 2,85 milioni di dollari, che rappresenta un aumento del 133% rispetto all'anno precedente e un aumento sequenziale del 98%. Questa cifra supera la guida precedente dell'azienda di 2,20 milioni di dollari di circa il 30%. La crescita è attribuita a significativi aumenti sia nei prodotti di consumo a marchio che nel segmento della produzione su commissione.
Il CEO Adam Levy ha evidenziato prestazioni solide in tutti e tre i marchi, in particolare nel marchio di bellezza Silly George. Il segmento della produzione su commissione ha anche registrato una ripresa a seguito di recenti iniziative di espansione, inclusi il raddoppio della superficie e l'installazione di nuove macchine automatizzate. NEXGEL prevede un continuo slancio positivo nel Q4, con il primo ordine di SilverSeal che sarà consegnato a Cintas. L'azienda riporterà i risultati finanziari completi del Q3 2024 il 14 novembre 2024 o prima.
NEXGEL (NASDAQ: NXGL) ha preanunciado unos ingresos récord esperados para el tercer trimestre de 2024 de 2,85 millones de dólares, lo que representa un aumento del 133% en comparación con el año anterior y un aumento secuencial del 98%. Esta cifra supera la guía anterior de la compañía de 2,20 millones de dólares en aproximadamente un 30%. El crecimiento se atribuye a aumentos significativos en productos de consumo de marca y en el segmento de fabricación por contrato.
El CEO Adam Levy destacó el sólido rendimiento en las tres marcas, especialmente en la marca de belleza Silly George. El segmento de fabricación por contrato también se ha recuperado tras recientes iniciativas de expansión, incluyendo el duplicado de la superficie y la instalación de nueva maquinaria automatizada. NEXGEL anticipa continuar con un impulso positivo en el Q4, con el primer pedido de SilverSeal que se entregará a Cintas. La compañía informará los resultados financieros completos del Q3 2024 el 14 de noviembre de 2024 o antes.
NEXGEL (NASDAQ: NXGL)는 2024년 3분기 예상 기록 매출 285만 달러를 미리 발표했습니다. 이는 전년 대비 133% 증가와 전분기 대비 98% 증가를 나타냅니다. 이 수치는 회사의 이전 가이던스인 220만 달러를 약 30% 초과한 수치입니다. 성장은 브랜드 소비재 및 계약 제조 부문에서의 큰 증가에 기인합니다.
CEO 아담 레비는 모든 세 브랜드에서 특히 뷰티 브랜드인 실리 조지의 강력한 성과를 강조했습니다. 계약 제조 부문은 최근 공간을 두 배로 늘리고 새로운 자동화 기계를 설치하는 등 확장 이니셔티브가 진행된 후에도 회복세를 보였습니다. NEXGEL은 Q4에서 지속적인 긍정적인 모멘텀을 예상하며, 첫 번째 SilverSeal 주문이 Cintas에 전달될 예정입니다. 이 회사는 2024년 11월 14일 또는 그 이전에 2024년 3분기 전체 재무 결과를 보고할 예정입니다.
NEXGEL (NASDAQ: NXGL) a préannoncé des revenus record attendus pour le troisième trimestre 2024 de 2,85 millions de dollars, ce qui représente une augmentation de 133 % par rapport à l'année précédente et une augmentation séquentielle de 98 %. Ce chiffre dépasse les prévisions antérieures de l'entreprise de 2,20 millions de dollars d'environ 30 %. La croissance est attribuée à des augmentations significatives tant dans les produits de consommation de marque que dans le secteur de la fabrication sous contrat.
Le PDG Adam Levy a souligné la solide performance des trois marques, en particulier la marque de beauté Silly George. Le secteur de la fabrication sous contrat a également rebondi à la suite d'initiatives d'expansion récentes, notamment le doublement de la superficie et l'installation de nouvelles machines automatisées. NEXGEL prévoit de poursuivre un élan positif au quatrième trimestre, avec la première commande de SilverSeal devant être livrée à Cintas. L'entreprise publiera les résultats financiers complets du troisième trimestre 2024 le 14 novembre 2024 ou avant.
NEXGEL (NASDAQ: NXGL) hat die erwarteten Rekordumsätze für das dritte Quartal 2024 von 2,85 Millionen Dollar vorab bekannt gegeben, was einem Anstieg von 133% im Vergleich zum Vorjahr und einem 98% sequentiellen Anstieg entspricht. Diese Zahl übersteigt die vorherige Prognose des Unternehmens von 2,20 Millionen Dollar um etwa 30%. Das Wachstum wird auf signifikante Zuwächse sowohl im Bereich der Markenverbraucherprodukte als auch im Bereich der Vertragsfertigung zurückgeführt.
CEO Adam Levy hob die starke Leistung aller drei Marken hervor, insbesondere der Schönheitsmarke Silly George. Der Bereich der Vertragsfertigung hat sich auch nach jüngsten Expansionsinitiativen erholt, zu denen das Verdoppeln der Fläche und die Installation neuer automatisierter Maschinen gehören. NEXGEL rechnet mit weiterem positivem Schwung im Q4, wobei die erste Bestellung von SilverSeal an Cintas geliefert wird. Das Unternehmen wird die vollständigen finanziellen Ergebnisse für das dritte Quartal 2024 am oder vor dem 14. November 2024 veröffentlichen.
- Record Q3 2024 revenue of $2.85 million, up 133% year-over-year
- 98% sequential revenue increase from Q2 2024
- 30% higher revenue than previously issued guidance
- Significant growth in branded consumer product sales
- Contract manufacturing segment returned to normalized revenue levels
- Anticipated continued positive momentum in Q4 2024
- First order of SilverSeal to be delivered to Cintas in Q4
- None.
Insights
The preannouncement of
Key points to consider:
- Robust growth in both branded consumer products and contract manufacturing segments
- Successful expansion initiatives, including doubled square footage and new automated machinery
- Anticipated continued momentum into Q4, with the addition of SilverSeal orders from Cintas
For a microcap company with a market cap of about
LANGHORNE, Pa., Oct. 10, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced preliminary, unaudited expected record revenue for the third quarter 2024 of approximately
“We are pleased to announce yet another record revenue quarter, surpassing our internal forecasts in both branded consumer products and contract manufacturing,” said Adam Levy, NEXGEL’s CEO. “Our branded consumer product sales have seen significant growth year-over-year and quarter-over-quarter in all three brands led by our beauty brand Silly George. Additionally, our contract manufacturing segment has returned to more normalized revenue levels following our recent expansion initiatives, which included doubling our square footage and installing state-of-the-art automated machinery and related clean room facilities. We anticipate continued positive momentum will carry into the fourth quarter during which our first order of SilverSeal will also be delivered to Cintas.”
NEXGEL will report its financial results for the third quarter 2024 on or before November 14, 2024 and will host a conference call the same day.
About NEXGEL, Inc.
NEXGEL is a leading provider of healthcare, beauty, and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels. Based in Langhorne, Pa., the Company has developed and manufactured electron-beam, cross-linked hydrogels for over two decades. NEXGEL brands include Silverseal®, Hexagels®, Turfguard®, Kenkoderm® and Silly George®. Additionally, NEXGEL has strategic contract manufacturing relationships with leading consumer healthcare companies.
Preliminary Third Quarter 2024 Results
This press release sets forth certain preliminary estimates of financial and operating results that we expect to report for the third quarter ended September 30, 2024. We are currently in the process of finalizing our financial results for the September 30, 2024 third quarter, and the preliminary estimated financial information presented above reflects various assumptions and estimates based upon preliminary information available to us as of the date of this press release. This information should not be viewed as a substitute for full unaudited financial statements prepared in accordance with accounting principles generally accepted in the United States for the third quarter ended September 30, 2024. Our independent registered public accounting firm has not reviewed this preliminary estimated financial information. As a result, it remains in all cases subject to change pending finalization. Items or events may be identified or occur after issuance of these preliminary results due to the completion of operational and financial closing procedures. In addition, final adjustments and other developments may arise that would require us to make material adjustments to this preliminary financial information. Therefore, our actual results may differ materially from the current expectations expressed in this release.
Forward-Looking Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs, such as “will,” “should,” “would,” “may,” and “could,” are generally forward-looking in nature and not historical facts. These forward-looking statements, including but not limited to our anticipation of continued positive financial momentum in the fourth quarter of 2024, involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance, or achievements to be materially different from any anticipated results, performance, or achievements for many reasons. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2023, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and which may be viewed at http://www.sec.gov/.
Investor Contacts:
Valter Pinto, Managing Director
KCSA Strategic Communications
212.896.1254
NEXGEL@KCSA.Com
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