NEXGEL, Inc. (NXGL), a provider of hydrogel-based healthcare and consumer products, reported financial results for the second quarter ended June 30, 2026, highlighting progress in BioNX Surgical division and hospital channel expansion.
Second Quarter 2026 Results
Revenue for Q2 2026 totaled $3.69 million, compared to $2.88 million in Q2 2025, reflecting growth from the Celularity transaction and integration of BioNX Surgical operations.
Net loss for Q2 2025 was $2.87 million, compare with $0.67 million in Q2 2025, as integration costs and non-recurring charges weighed on results. The reported loss including:
-$756,554 of BioNX intangible asset amortization
-$273,710 of transaction-related expenses
-$144,495 tied to the strategic recall of SilverSeal inventory from Amazon.
Gross margin was pressured by supply chain challenges, contributing to a BioNX Surgical backlog of approximately $795,000.
Operational Updates
-Integration of Celularity employees and sales representatives continued, though rollout into the surgical channel progressed slower than anticipated.
-Sequence Life Science deployed tissue processing specialists to Celularity's New Jersey facility to transfer manufacturing technology to its San Antonio site, aiming to improve scalability.
-SilverSeal recall supported its relaunch into the hospital market in August, leveraging established reimbursement A-codes for surgical and wound care applications.
Management emphasized that the hospital channel represents a significant growth opportunity, with the potential for higher sales volume and improved margins compared to current distribution channels.
NXGL has traded between $0.30 and $2.89 over the past year. The stock is currently trading at $0.39, down 30.23%.
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