Business
NEXGEL Preannounces Expected Record Third Quarter 2024 Revenue of $2.85 Million, an Increase of Approximately 133% Year-Over-Year and 98% Sequentially
LANGHORNE, Pa., Oct. 10, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of medical and
About this update from Nexgel, Inc
[{"type":"text","content":"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 $2.85 million, an increase of approximately 133% year-over-year and approximately 98% quarter-over-quarter, respectively, as well as an increase of approximately 30% over the Company’s previously issued July third quarter revenue guidance of $2.20 million. “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 ResultsThis 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 ...