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NexGel Inc
(NASDAQ:NXGL)
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Rating:40Underperform
Price Target:
$3.50
▲(900.00% Upside)
Action:Downgraded
Date:10/30/26
The score is primarily held back by weak financial fundamentals—ongoing losses, cash burn, and rising leverage—along with a clearly bearish technical setup (price below key moving averages and negative MACD). Valuation provides limited support due to unprofitability and no dividend, while the recent CEO change and strategic review add additional near-term uncertainty.
Positive Factors
Revenue growth
The sustained increase in revenue demonstrates expanding commercial activity and provides a larger base from which NexGel can build operating scale. Continued top-line growth over several years is a durable positive because it indicates demand is developing beyond a single reporting period.
Negative Factors
Persistent and widening losses
NexGel remains materially unprofitable despite revenue and gross-margin improvements, and the larger TTM net loss shows that operating expenses still exceed the business’s earnings contribution. Without a meaningful improvement in operating leverage, growth may continue requiring external financial support.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth
The sustained increase in revenue demonstrates expanding commercial activity and provides a larger base from which NexGel can build operating scale. Continued top-line growth over several years is a durable positive because it indicates demand is developing beyond a single reporting period.
Read all positive factors
NexGel Inc (NXGL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.78M
Dividend YieldN/A
Average Volume (3M)173.12K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth3.38%
EPS Growth-78.48%
CountryUS
Employees19
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-14.35
Shares Outstanding487,383
10 Day Avg. Volume59,512
30 Day Avg. Volume173,123
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)2.84
Price to Sales (P/S)1.11
P/FCF Ratio-9.17
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue0.89
Enterprise Value/Gross Profit2.55
Enterprise Value/Ebitda-5.10
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$24.06M
NexGel Inc Business Overview & Revenue Model
Company Description
NEXGEL, Inc. is a company that develops and produces advanced hydrogels and gels. These materials are characterized by their significant water content, aqueous polymer composition, and electron beam cross-linking technology. NEXGEL's diverse produ...
How the Company Makes Money
NexGel primarily makes money by selling hydrogel-based products and by providing manufacturing services centered on its hydrogel technology and production capabilities. Key revenue streams include: (1) Contract manufacturing / private-label produc...
NexGel Inc Earnings Call Summary
Earnings Call Date:May 15, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call emphasized a transformational acquisition (BioNX), strategic financing and partnership with Sequence LifeScience, strengthened leadership, a commercial product portfolio in ~500 hospitals, and pro forma projections to triple revenue to ~$35M and be accretive — all significant positives. Offsetting these are near‑term operational and liquidity pressures: Q1 revenue declined ~5.7% YoY, cash on hand fell to $1.8M, SG&A is elevated, and some legacy consumer products and key customer relationships have underperformed. Management reported early signs of recovery and initial BioNX sales beginning in Q2, but timing and execution risk remain notable.Positive Updates
Strategic Acquisition of BioNX Closed
Acquisition of BioNX closed in mid‑April; BioNX adds 6 commercial regenerative biomaterial products, positioning the company in a fast‑growing healthcare segment and providing an expanded commercial footprint.
Negative Updates
Quarterly Revenue Decline
Q1 revenue was $2.65 million versus $2.81 million in the prior year period — a year‑over‑year decline of approximately 5.7%, described by management as 'relatively flat' but down overall.
Read all updates
Q1-2026 Updates
Positive
Negative
Strategic Acquisition of BioNX Closed
Acquisition of BioNX closed in mid‑April; BioNX adds 6 commercial regenerative biomaterial products, positioning the company in a fast‑growing healthcare segment and providing an expanded commercial footprint.
Read all positive updates
Company Guidance
The company guided that the BioNX acquisition is expected to be transformative: on a pro forma basis it should approximately triple annual revenue to roughly $35 million and be “immediately accretive to profitability” upon closing; BioNX revenue will begin to be recognized for about half of Q2. Key near‑term financials and capital metrics cited were Q1 revenue of $2.65M (vs. $2.81M year‑ago), cash and restricted cash of ~$2.1M as of 3/31/2026 with $1.8M on hand today, and $13.8M total capital raised (comprised of $8.8M cash and a $5.0M convertible note to Cellularity), while Sequence LifeScience led financing with a $5.5M investment. Operational and pipeline metrics included a BioNX portfolio of 6 commercial regenerative products already approved in ~500 U.S. hospitals, three 510(k) devices in development representing about $4.6M of invested paid‑in capital targeted for commercialization in 2027, 2026 and (as stated) 2020, and an incremental operating run‑rate of roughly $500K per month (salaries, marketing, commissions) for the expanded commercial/R&D footprint.NexGel Inc Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
41
Neutral
Cash Flow
27
Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.07M | 11.42M | 8.69M | 4.09M | 2.05M | 1.55M |
| Gross Profit | 4.23M | 4.51M | 2.75M | 374.00K | 256.00K | 8.00K |
| EBITDA | -2.11M | -2.12M | -2.90M | -2.73M | -3.11M | -2.20M |
| Net Income | -6.18M | -3.00M | -3.28M | -3.16M | -4.75M | -4.31M |
Balance Sheet | ||||||
| Total Assets | 26.45M | 10.46M | 10.98M | 9.96M | 10.36M | 16.98M |
| Cash, Cash Equivalents and Short-Term Investments | 492.00K | 317.00K | 1.81M | 2.70M | 6.61M | 13.35M |
| Total Debt | 7.46M | 3.09M | 2.83M | 2.80M | 2.08M | 4.26M |
| Total Liabilities | 20.98M | 5.57M | 4.90M | 4.79M | 2.72M | 4.90M |
| Stockholders Equity | 4.95M | 4.46M | 5.75M | 4.70M | 7.64M | 12.09M |
Cash Flow | ||||||
| Free Cash Flow | -3.27M | -1.38M | -4.31M | -3.93M | -3.09M | -3.02M |
| Operating Cash Flow | -3.21M | -1.31M | -3.87M | -3.24M | -2.99M | -2.75M |
| Investing Cash Flow | -6.63M | -68.00K | -775.00K | 4.46M | -5.59M | -269.00K |
| Financing Cash Flow | 10.82M | 630.00K | 3.75M | 379.00K | -3.66M | 16.34M |
NexGel Inc Technical Analysis
Negative
0.35
Price Trends
5.14
Negative
7.35
Negative
12.53
Negative
Market Momentum
-0.27
Positive
38.70
Neutral
10.19
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NXGL, the sentiment is Negative. The current price of 0.35 is below the 20-day moving average (MA) of 4.37, below the 50-day MA of 5.14, and below the 200-day MA of 12.53, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 38.70 is Neutral, neither overbought nor oversold. The STOCH value of 10.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NXGL.
NexGel Inc Risk Analysis
NexGel Inc disclosed 31 risk factors in its most recent earnings report. NexGel Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
We have incurred substantial indebtedness under convertible notes issued in second quarter of 2026, which could adversely affect our liquidity and result in significant dilution to our stockholders. Q2, 2026
2.
Our license and acquisition of assets from Celularity may not achieve the anticipated benefits, and we may be required to make significant additional contingent payments. Q2, 2026
NexGel Inc Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $27.61M | -6.39 | -149.08% | ― | 3.72% | 43.78% | |
50 Neutral | $51.02M | -10.03 | -23.92% | ― | 65.16% | 45.07% | |
47 Neutral | $16.91M | -4.69 | -4.59% | ― | -11.16% | 59.85% | |
45 Neutral | $301.64M | -8.83 | -473.55% | 0.00% | 12.93% | -219.19% | |
45 Neutral | $11.47M | -0.30 | -225.98% | ― | 21.86% | 73.27% | |
40 Underperform | $10.78M | -0.24 | -133.10% | ― | 3.38% | -78.48% |
* Healthcare Sector Average
NXGL
NexGel Inc
3.51
-43.49
-92.53%
RVP
Retractable Technologies
0.57
-0.32
-35.87%
MLSS
Milestone Scientific
0.30
-0.11
-27.45%
POCI
Precision Optics Corporation
4.65
0.46
10.98%
SMTI
Sanara MedTech
32.83
3.84
13.25%
FEMY
Femasys
1.37
-11.77
-89.58%
NexGel Inc Corporate Events
Shareholder MeetingsStock Split
NexGel approves and implements 1-for-20 reverse split
Neutral
Oct 7, 2026
NexGel, Inc., whose common stock trades on the Nasdaq Capital Market under the ticker NXGL, operates with a Delaware incorporation structure and utilizes a range of equity-linked securities, including convertible preferred stock, warrants and equi...
Business Operations and StrategyRegulatory Filings and Compliance
NexGel Announces Strategic Review and Platform Reorganization
Neutral
Sep 24, 2026
On September 24, 2026, NexGel, Inc. began using a new shareholder update presentation titled “Strategic Review Proposed Platform Reorganization,” signaling that the company is formally communicating a review of its current business pl...
Business Operations and StrategyShareholder MeetingsStock Split
NexGel Shareholders Approve Stock Expansion and Split
Neutral
Sep 23, 2026
On September 23, 2026, NexGel, Inc. held a special meeting of stockholders at which a quorum was achieved with 6,200,043 of 9,747,663 eligible shares represented. Investors approved an amendment to expand the company’s authorized common stoc...
Business Operations and StrategyExecutive/Board Changes
NEXGEL Names Interim CEO and Launches Strategic Review
Negative
Aug 21, 2026
On August 21, 2026, NEXGEL, Inc. terminated Adam R. Levy’s employment as chief executive officer without cause, with Levy simultaneously resigning from the board and all other roles while agreeing to provide 90 days of transition assistance ...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingShareholder MeetingsStock Split
NexGel shareholders constrain structural changes at annual meeting
Neutral
Aug 5, 2026
At NexGel Inc.’s 2026 annual meeting of stockholders held on July 31, 2026, shareholders elected six directors—Adam Levy, Steven Glassman, Steven A. Ciardiello, Dr. Jerome B. Zeldis, Brian J. Kieser and Kevin M. Harris—to serve u...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.