v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 938 $ 1,807
Restricted cash 920
Accounts receivable, net 839 933
Inventory 2,019 1,751
Prepaid expenses and other current assets 886 623
Total current assets 5,602 5,114
Goodwill 1,128 1,128
Intangibles, net 712 807
Property and equipment, net 1,996 2,211
Operating lease - right of use asset 2,087 1,628
Other assets 95 95
Total assets 11,620 10,983
Current Liabilities:    
Accrued expenses and other current liabilities 530 310
Deferred revenue 180 179
Current portion of note payable 99 97
Partnership accrued advance 920
Warrant liability and contingent consideration liability 6 296
Financing lease liability, current portion 64 59
Operating lease liabilities, current portion 293 237
Total current liabilities 3,308 2,470
Operating lease liabilities, net of current portion 1,962 1,538
Financing lease liability, net of current portion 259 307
Notes payable, net of current portion 515 588
Total liabilities 6,044 4,903
Commitments and Contingencies (Note 17)
Stockholders’ Equity    
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; 8,142,766 and 7,638,497 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 8 8
Additional paid-in capital 25,204 23,743
Accumulated deficit (20,026) (17,996)
Total NexGel stockholders’ equity 5,186 5,755
Non-controlling interest in joint venture 390 325
Total stockholders’ equity 5,576 6,080
Total liabilities and stockholders’ equity 11,620 10,983
Nonrelated Party [Member]    
Current Liabilities:    
Accounts payable - related party 795 761
Related Party [Member]    
Current Liabilities:    
Accounts payable - related party $ 421 $ 531

Source

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