Balance Sheet

v3.25.1

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current Assets:
Cash	$ 1,192	$ 1,807
Accounts receivable, net	926	933
Inventory	1,846	1,751
Prepaid expenses and other current assets	776	623
Total current assets	4,740	5,114
Goodwill	1,128	1,128
Intangibles, net	775	807
Property and equipment, net	2,129	2,211
Operating lease - right of use asset	1,570	1,628
Other assets	95	95
Total assets	10,437	10,983
Current Liabilities:
Accrued expenses and other current liabilities	334	310
Deferred revenue	286	179
Current portion of note payable	99	97
Warrant liability	28	118
Contingent consideration liability		178
Financing lease liability, current portion	59	59
Operating lease liabilities, current portion	234	237
Total current liabilities	2,519	2,470
Operating lease liabilities, net of current portion	1,494	1,538
Financing lease liability, net of current portion	293	307
Notes payable, net of current portion	563	588
Total liabilities	4,869	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; 7,654,037 and 7,638,497 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively	8	8
Additional paid-in capital	23,909	23,743
Accumulated deficit	(18,708)	(17,996)
Total NexGel stockholders’ equity	5,209	5,755
Non-controlling interest in joint venture	359	325
Total stockholders’ equity	5,568	6,080
Total liabilities and stockholders’ equity	10,437	10,983
Nonrelated Party [Member]
Current Liabilities:
Accounts payable	980	761
Related Party [Member]
Current Liabilities:
Accounts payable	$ 499	$ 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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