NEXGEL Reports Record Revenue of $1.44 Million in the Second Quarter of 2024

LANGHORNE, Pa., August 14, 2024 (GLOBE NEWSWIRE) — NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of ultra-soft, high water content hydrogel products for healthcare and consumer applications, today announced record second quarter 2024 revenue of $1.44 million and reiterates third and fourth quarter 2024 revenue guidance of $2.2 million and $2.6 million, respectively.

Adam Levy, Chief Executive Officer of NEXGEL, commented, “The second quarter of 2024 was a record revenue quarter for the Company, totaling $1.44 million, up 23.4% year-over-year and 13.7% quarter-over-quarter. Branded consumer products revenue was a key growth driver during the quarter, led by our Silly George brand, which generated approximately half of the quarter’s revenue. At the time of the acquisition’s closing, Silly George had $2 million in revenue. In July alone, Silly George generated over $380,000 in revenue on Shopify alone. We remain excited about this acquisition and the revenue opportunities from our partnerships with STADA and Cintas in the second half of this year.”