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NexGel, Inc (NXGL)

Nasdaq: NXGL · Surgical & Medical Instruments & Apparatus · Langhorne, PA · filing with the SEC since 2009
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Grade3.9
◀ Past 3.3● Present 4.2▶ Future 3.9
1 est.
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The grade of NexGel, Inc

Nine metrics read from its own filings, by tense
Headline grade
3.9/10
◀ Past3.330% of the headline
● Present4.240% of the headline
▶ Future3.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.3/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
1.9/10

Has it survived what it has been through?

8 warning events since 2017; the latest 2026-08-17.

weight 33% of this tense · 19th percentile among 121 sector filers · read for itself

From the record

NexGel, Inc's filings since 2017 show 8 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 2 times, the latest 2026-04-24); an auditor change (8-K item 4.01, the latest 2019-11-04); a late-report notice (Form NT 10-K or NT 10-Q, 5 times, the latest 2026-08-17) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
3.8/10

What has it actually done, year after year?

+26.4% a year over 8 filed years; profitable in 0 of 8.

weight 45% of this tense · 38th percentile among 105 sector filers · read for its customers

From the record

NexGel, Inc's 8 filed years say what it did: revenue went from $2 million in fiscal 2018 to $11 million in fiscal 2025, up 26.4% a year; it rose in 5 of 7 years; the deepest fall was 70% from fiscal 2018 to fiscal 2020; net income was positive in 0 of 8 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span26.4%top 25% of its family
  • the share of years revenue rosebottom 39% of its family
  • the share of filed years with a profitbottom 23% of its family
  • the deepest fall from a revenue peak69.5%bottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
4.3/10

How has it treated the people who own it?

SI estimate 4.3/10, confidence 35 of 100 (one part).

weight 22% of this tense · 43rd percentile among 120 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 43% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 120 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: NexGel, Inc's shareholder treatment is put at 4.3 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 43% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.2/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
4.5/10

Is it financially healthy right now?

ROE -67%: lost 67¢ per shareholder dollar. Leverage 57%: owes 57¢ per asset dollar.

weight 45% of this tense · 44th percentile among 120 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, NexGel, Inc lost about 67 cents for every dollar of shareholders' money, and gross profitability: its products earned about 43 cents per dollar of everything the company owns. Leverage: it owed about 57 cents per dollar of assets, and net share issuance: its share count grew 20.6% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 35% of its family
  • return on equitybottom 38% of its family
  • gross profit against assetstop 35% of its family
  • the share count against the year beforebottom 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.3/10

How strong is its position in its industry?

top 47% of 109 in its family; net margin -26.3%.

weight 33% of this tense · 53rd percentile among 109 sector filers · read for its customers

From the record

NexGel, Inc's standing among 109 graded names in its industry family: revenue of $11 million in fiscal 2025 ranks in the bottom 24% by size; a net margin of -26.3% ranks in the bottom 47%; revenue growth of 77.3% a year over the last 3 filed years ranks in the top 10% (its annual reports).

What it rests on

  • revenue against the family$11.4Mbottom 24% of its family
  • net margin-26.3%bottom 47% of its family
  • three-year revenue growth77.3%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.2/10

What are the people in charge doing?

bottom 22% of 91 in its family for leadership; chief executive since 2019.

weight 22% of this tense · 22nd percentile among 91 sector filers · read for its shareholders

From the record

NexGel, Inc's leadership, from its insiders' filings and its current reports: the chief executive on the record is Levy, Adam R. (Chief Executive Officer, as filed), filing under that title since 2019-11-14, 7 years (top 36% of its family); the 5 officers and directors filing in the last fifteen months have been on the record a median of 6 months (bottom 1%); 13 officer or director changes were reported on Form 8-K since 2023-11-13, against the 5 people in charge now (bottom 1%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge13 in three years among 5 peoplebottom 1% of its family
  • the median years the people in charge have filed6 monthsbottom 1% of its family
  • the chief executive's years on the record7.0 yearstop 36% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

3.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
2.2/10

How much room does it have to grow?

bottom 22% of 104 in its family for room to expand.

weight 45% of this tense · 22nd percentile among 104 sector filers · read for itself

From the record

NexGel, Inc's room to grow, from the newest filed statements (fiscal 2025): cash from operations less capital spending is -12.1% of revenue (bottom 47%); a gross margin of 39.5% (bottom 20%); research spending of 0% of revenue (bottom 1%) (its annual report).

What it rests on

  • cash from operations less capital spending against revenue-12.1%bottom 47% of its family
  • gross margin39.5%bottom 20% of its family
  • research spending against revenue0.0%bottom 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.3/10

What could actually drive growth from here?

top 47% of 105 in its family for growth drivers.

weight 33% of this tense · 53rd percentile among 105 sector filers · read for its customers

From the record

NexGel, Inc's growth drivers, from the filed years to fiscal 2025: revenue grew 77.3% a year over the last three filed years against 26.4% over all 8, speeding up (top 5% of its family); the newest year grew 31.5% (top 22%); research spending grew -82.4% a year (bottom 1%); capital spending grew -10.9% a year (bottom 37%) (its annual reports). NexGel, Inc tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+50.9 points a yeartop 5% of its family
  • the newest year's revenue growth31.5%top 22% of its family
  • three-year growth of research spending-82.4%bottom 1% of its family
  • three-year growth of capital spending-10.9%bottom 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.1/10

Did its newest year beat what its own record pointed to?

top 49% of 88 in its family for expectations against reality.

weight 22% of this tense · 51st percentile among 88 sector filers · read for its shareholders

From the record

NexGel, Inc's newest year against its own record: revenue of $11 million in fiscal 2025 came in 36.1% below the $18 million its prior three years' pace pointed to (bottom 13% of its family); net income of $3 million against a prior three-year average of $4 million (top 47%); a net margin of -26.3% against losses larger than its revenue before (top 14%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-36.1%bottom 13% of its family
  • net income against the prior three years' average+20%top 47% of its family
  • net margin against its prior average+89.3 pointstop 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton NXGL · research, not advice