Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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