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Nexgel (NXGL) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 17, 2026 · Nexgel (NXGL) Q2 2026 earnings results →
Q2 2026 Revenue up 28% year over year to $3.7M · 98¢ of every $1 of revenue lost · operating margin -68.0%
Nexgel made $3.7M in Q2 2026 (+28% Y/Y). Operating margin -68.0%, net loss $3.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 17, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $3.7M in Q2 2026, up 28% year over year and up 39% from the previous quarter.
Gross margin was 30.1%, down 13.5 points from Q2 2025. Operating costs exceeded revenue by $2.5M, an operating margin of -68.0%. Operating expenses grew 91% against revenue growth of 28%. The quarter ended with a net loss of $3.6M, wider than the previous quarter's $871K loss.
Operating cash flow was −$2.2M. Non-cash charges added back $827K of depreciation and amortization and $119K of share-based compensation. Working capital and other items added $463K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 17, 2026 | $3.7M | +28% | -68.0% | −$3.6M | −$2.2M |
| Q1 2026 | 10-Q | May 14, 2026 | $2.6M | -6% | -36.2% | −$871K | −$504K |
| Q4 2025 | 10-K | Mar 31, 2026 | $2.8M | -8% | -43.4% | −$928K | $281K |
| Q3 2025 | 10-Q | Nov 12, 2025 | $2.9M | -0.2% | -24.7% | −$647K | −$785K |
| Q2 2025 | 10-Q | Aug 12, 2025 | $2.9M | +100% | -22.1% | −$640K | −$407K |
| Q1 2025 | 10-Q | May 13, 2025 | $2.8M | +122% | -27.7% | −$678K | −$400K |
| Q4 2024 | 10-K | Mar 27, 2025 | $3.0M | +181% | -27.7% | −$824K | −$859K |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Nexgel
We were incorporated in Delaware on January 13, 2009. We manufacture high water content, electron beam cross-linked, aqueous polymer hydrogels, or gels, used for wound care, medical diagnostics, transdermal drug delivery and cosmetics. We specialize in custom gels by capitalizing on proprietary manufacturing technologies. We distribute our products as a contract manufacturer, supplying our gels to third parties who incorporate them into their own products. We also have a line of branded consumer products sold direct to consumers and custom and white label opportunities, which focuses on combining our gels with proprietary branded products and white label opportunities. All of our gel products are manufactured using proprietary and non-proprietary mixing, coating and cross-linking technologies.
In its own words, from its 10-K, filed Mar 31, 2026.
Nexgel against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +28% against the peers' median +5%. Operating margin: -68.0% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NXGL Nexgel | Q2 2026 | $3.7M | +28% | -68.0% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Nexgel 10-Q on SEC EDGAR · CIK 1468929 · Surgical & Medical Instruments & Apparatus
13F: who owns NXGL and who is buying
More on NXGL
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results