#NEXGEL #announces #financial #results #quarter
Revenue increased 69.6% year over year, while gross profit margin improved to 26% both sequentially and year over year
LANGHORNE, Pa., Nov. 8, 2022 (GLOBE NEWSWIRE) — NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of ultra-soft, high-water hydrogel products for healthcare and consumer applications, today announced its financial results for the third quarter ended September 30 2022.
Adam Levy, Chief Executive Officer of NEXGEL, commented, “We are pleased to report another quarter of year-over-year revenue growth. In the third quarter, revenue increased 69.6% while our gross margin improved both sequentially and year-on-year, with a gross margin of 26% for the three months ended September 30, 2022. At quarter-end, we had $7.4 million Dollars in cash and cash equivalents and marketable securities, giving us ample headroom through 2024 and supporting our strategic R&D investments to drive future growth. We expect sales growth in…
Read on GNW: NEXGEL announces financial results for the third quarter of 2022
