Balance Sheet

v3.25.2

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current Assets:
Cash	$ 725	$ 1,807
Accounts receivable, net	753	933
Inventory, net	1,821	1,751
Prepaid expenses and other current assets	863	623
Total current assets	4,162	5,114
Goodwill	1,128	1,128
Intangibles, net	744	807
Property and equipment, net	2,070	2,211
Operating lease - right of use asset	1,512	1,628
Other assets	95	95
Total assets	9,711	10,983
Current Liabilities:
Accrued expenses and other current liabilities	534	310
Deferred revenue	180	179
Current portion of note payable	99	97
Warrant liability	14	118
Contingent consideration liability		178
Financing lease liability, current portion	62	59
Operating lease liabilities, current portion	234	237
Total current liabilities	2,396	2,470
Operating lease liabilities, net of current portion	1,446	1,538
Financing lease liability, net of current portion	275	307
Notes payable, net of current portion	539	588
Total liabilities	4,656	4,903
Commitments and Contingencies (Note 17)
Preferred stock, par value $0.001 per share, 5,000,000 shares authorized, no shares issued and outstanding
Common stock, par value $0.001 per share, 25,000,000 shares authorized; 7,654,537 and 7,638,497 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	8	8
Additional paid-in capital	24,036	23,743
Accumulated deficit	(19,373)	(17,996)
Total NexGel stockholders’ equity	4,671	5,755
Non-controlling interest in joint venture	384	325
Total stockholders’ equity	5,055	6,080
Total liabilities and stockholders’ equity	9,711	10,983
Nonrelated Party [Member]
Current Liabilities:
Accounts payable	826	761
Related Party [Member]
Current Liabilities:
Accounts payable	$ 447	$ 531

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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