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NexGel, Inc. is a manufacturer of advanced hydrogel solutions specializing in unique transdermal delivery systems. Originally developed for hospital wound care, their high water content hydrogels are now utilized in consumer OTC, RX, medical device, and cosmetic applications. The company's proprietary manufacturing technologies enable the production of custom gels for various uses.
NEXGEL (NASDAQ: NXGL) has announced a strategic partnership with James Maslow to promote Silly George's innovative eyelash collection. Maslow, known for his role in Big Time Rush and various entertainment projects, will support the brand's new lash collaboration through social media and exclusive content.
Silly George, NEXGEL's beauty brand, offers a full product line of eye and eyelash products, including hassle-free alternatives to glue-on eyelashes. The company recently launched a new line of Pop-On Lashes using new lash technology for non-toxic, long-wear eyelash extensions that can last 5-10 days.
Adam Levy, CEO of NEXGEL, expressed excitement about the partnership, highlighting Maslow's charisma and influential presence as well as the family connection, as Maslow is Levy's nephew.
NEXGEL (NASDAQ: NXGL) reported record Q2 2024 revenue of $1.44 million, up 23.4% year-over-year and 13.7% sequentially. The company reiterated Q3 and Q4 2024 revenue guidance of $2.2 million and $2.6 million, respectively. Key highlights include:
1. Acquisition of Silly George, contributing significantly to revenue growth
2. Partnership with STADA for Histasolv® distribution in North America
3. Agreement with Cintas for SilverSeal distribution
4. Gross profit increased to $410,000, with margin improving to 28.5%
5. Net loss widened to $979,000 due to increased marketing expenses
6. Closed $1.11 million registered direct offering post-quarter
NEXGEL expects continued growth in branded consumer products and normalization of contract manufacturing revenue in H2 2024.
NEXGEL (NASDAQ: NXGL), a provider of medical and OTC products specializing in ultra-gentle, high-water-content hydrogels, has announced its plans to report second quarter 2024 financial results on August 14, 2024, after market close. The company will host a conference call at 4:30 P.M. ET on the same day to discuss the results.
Interested parties can join the call via phone at +1-800-579-2543 (U.S. Toll Free) or +1-785-424-1789 (International). A webcast will also be available. For those unable to attend, a replay will be accessible until August 28, 2024, by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) with the code 11156720. An archived version of the webcast will be available for 90 days.
NEXGEL (NASDAQ: NXGL) has announced a $1,110,000 registered direct offering led by company insiders. The offering includes the sale of 444,000 shares of common stock and warrants to purchase up to 222,000 additional shares. The combined purchase price is $2.50 per share, with warrants exercisable at $4.25 per share for five years. Notably, NEXGEL insiders, including management and board members, participated in the offering and are subject to a six-month lock-up period. CEO Adam Levy stated that the capital will support operations and strengthen the balance sheet as the company approaches significant growth opportunities, particularly following the acquisition of Silly George and increased demand for its products.
NEXGEL (NASDAQ: NXGL) and Innovative Optics US dba Vanalay have initiated an IRB study to evaluate the efficacy of NEXGEL's hydrogel in eliminating harmful particles during laser hair removal. The 30-patient study, funded by Vanalay, aims to address concerns about surgical plume, a toxic byproduct of laser procedures. NEXGEL's high-water content hydrogel may offer a solution for absorbing and capturing plume, potentially improving treatment effectiveness and reducing pain. The study, conducted by plastic surgeons at the Florida Clinical Research Center, is expected to yield top-line data in Q4 2024. This collaboration could lead to a market solution addressing regulatory compliance and clinician health concerns in the laser aesthetics industry.
NEXGEL (NASDAQ: NXGL) announced preliminary unaudited revenue for Q2 2024 at $1.4 million, marking a 20% year-over-year and 10% sequential increase. The company also issued revenue guidance for Q3 and Q4 2024: $2.2 million and $2.6 million, respectively, indicating significant year-over-year growth of 83% and 140%. CEO Adam Levy highlighted the record Q2 revenue despite lower contributions from CG Converting and Packaging due to facility expansion. The growth in contract manufacturing, driven by new relationships with large global corporations, and strong consumer demand for products like Silly George's Pop-On Lash, has positioned the company to potentially achieve positive cash flow from operations in the latter half of 2024.
NEXGEL, a leading provider of medical and OTC products like hydrogels, announced a supply agreement with Cintas
Cintas, a top provider of corporate uniforms and safety products, will distribute SilverSeal, NEXGEL's hospital-grade hydrogel dressing for wounds and burns, to its customers in various sectors.
The first order is expected in Q4 2024. This partnership aims to enhance SilverSeal's brand awareness and generate revenue for NEXGEL.
CEO Adam Levy emphasized the significance of the partnership for both revenue and brand visibility.
NEXGEL has partnered with STADA Arzneimittel AG to launch Histasolv, a leading Diamine Oxidase (DAO) enzyme supplement, in North America. Histasolv, known as DAOSIN in Europe, generates over $10 million annually in Europe, treating histamine food intolerance. NEXGEL will start direct-to-consumer sales in Q3 2024. The product's unique formulation ensures high potency, addressing migraines, gut issues, and skin conditions caused by histamine intolerance. STADA, a top European healthcare company, aims to strengthen its North American presence through this partnership. Both companies express confidence in the collaborative potential and future expansion opportunities.
NEXGEL (NASDAQ: NXGL) has acquired Silly George, an international beauty brand specializing in eye and eyelash products, for $400,000 in cash, $200,000 in NEXGEL common stock, and a 4-year net profit earn out. Silly George, with a revenue run rate of approximately $2 million, offers a range of products including non-toxic eyelash extensions and lash serums, predominantly sold direct-to-consumer and on Amazon in the U.S., U.K., Australia, and the Netherlands. The acquisition is expected to add $2 million in annual revenue and provides operational synergies through marketing optimization and expense overlap. Silly George's strong social media presence and customer database will also offer cross-selling opportunities for NEXGEL's portfolio. CEO Adam Levy highlighted the acquisition as a strategic move towards profitability, leveraging synergies and expanding their product portfolio in the health and beauty sector.
NEXGEL (NASDAQ: NXGL) announced its financial results for Q1 2024, reporting a 104% YoY revenue increase to $1.27 million, driven by 58% growth in contract manufacturing and 178% in consumer branded products. The gross profit for Q1 2024 was $277,000, up from a loss of $57,000 in Q1 2023. However, the company reported a net loss of $905,000, up from $807,000 in the same period last year. NEXGEL is investing in significant growth opportunities, including expanding its Texas facility and launching products in Europe. The company ended the quarter with a cash balance of $2.4 million.
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