| Schedule of Reportable Segments |
Summarized
financial information concerning the Company’s reportable segments for the three and nine months ended September 30, 2025 and 2024
and the balances of assets and liabilities for each segment at September 30, 2025 and December 31, 2024 is presented below.
Schedule of Reportable Segments
Three
Months Ended September 30, 2025 ($ in thousands)
| |
|
NexGel |
|
|
CGN JV |
|
|
Total |
|
| Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
| Contract manufacturing |
|
$ |
230 |
|
|
$ |
677 |
|
|
$ |
907 |
|
| Custom and white label finished goods |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Branded consumer products |
|
|
1,918 |
|
|
|
- |
|
|
|
1,918 |
|
| Other income |
|
|
80 |
|
|
|
29 |
|
|
|
109 |
|
| Total revenue |
|
|
2,228 |
|
|
|
706 |
|
|
|
2,934 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues |
|
|
1,127 |
|
|
|
564 |
|
|
|
1,691 |
|
| Operating expenses |
|
|
1,833 |
|
|
|
135 |
|
|
|
1,968 |
|
| Income (loss) from operations |
|
$ |
(732 |
) |
|
$ |
7 |
|
|
$ |
(725 |
) |
Three
Months Ended September 30, 2024 ($ in thousands)
| |
|
NexGel |
|
|
CGN JV |
|
|
Total |
|
| Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
| Contract manufacturing |
|
$ |
396 |
|
|
$ |
468 |
|
|
$ |
864 |
|
| Custom and white label finished goods |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Branded consumer products |
|
|
1,930 |
|
|
|
- |
|
|
|
1,930 |
|
| Other income |
|
|
109 |
|
|
|
37 |
|
|
|
146 |
|
| Total revenue |
|
|
2,435 |
|
|
|
505 |
|
|
|
2,940 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues |
|
|
1,282 |
|
|
|
503 |
|
|
|
1,785 |
|
| Operating expenses |
|
|
1,746 |
|
|
|
197 |
|
|
|
1,943 |
|
| Loss from operations |
|
$ |
(593 |
) |
|
$ |
(195 |
) |
|
$ |
(788 |
) |
Nine
Months Ended September 30, 2025 ($ in thousands)
| |
|
NexGel |
|
|
CGN JV |
|
|
Total |
|
| Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
| Contract manufacturing |
|
$ |
747 |
|
|
$ |
1,971 |
|
|
$ |
2,718 |
|
| Custom and white label finished goods |
|
|
27 |
|
|
|
- |
|
|
|
27 |
|
| Branded consumer products |
|
|
5,584 |
|
|
|
- |
|
|
|
5,584 |
|
| Other income |
|
|
202 |
|
|
|
94 |
|
|
|
296 |
|
| Total revenue |
|
|
6,560 |
|
|
|
2,065 |
|
|
|
8,625 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues |
|
|
3,453 |
|
|
|
1,482 |
|
|
|
4,935 |
|
| Operating expenses |
|
|
5,422 |
|
|
|
406 |
|
|
|
5,828 |
|
| Income (loss) from operations |
|
$ |
(2,315 |
) |
|
$ |
177 |
|
|
$ |
(2,138 |
) |
Nine
Months Ended September 30, 2024 ($ in thousands)
| |
|
NexGel |
|
|
CGN JV |
|
|
Total |
|
| Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
| Contract manufacturing |
|
$ |
665 |
|
|
$ |
1,225 |
|
|
$ |
1,890 |
|
| Custom and white label finished goods |
|
|
42 |
|
|
|
- |
|
|
|
42 |
|
| Branded consumer products |
|
|
3,515 |
|
|
|
- |
|
|
|
3,515 |
|
| Other income |
|
|
156 |
|
|
|
44 |
|
|
|
200 |
|
| Total revenue |
|
|
4,378 |
|
|
|
1,269 |
|
|
|
5,647 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues |
|
|
2,799 |
|
|
|
1,174 |
|
|
|
3,973 |
|
| Operating expenses |
|
|
3,887 |
|
|
|
500 |
|
|
|
4,387 |
|
| Loss from operations |
|
$ |
(2,308 |
) |
|
$ |
(405 |
) |
|
$ |
(2,713 |
) |
| Income (loss) from operations |
|
$ |
(2,308 |
) |
|
$ |
(405 |
) |
|
$ |
(2,713 |
) |
|