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NEXGEL

NXGL
23
Medical - Instruments & Supplies · Healthcare
Price
$0.35
+0.00 (+0.60%)
extended-hours:$0.34-2.95%
Market Cap
$3.0M
Exchange
NASDAQ Capital Market
Winston Score
23
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 29, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Mixed
Valuation
Data not available

Share count rising — dilution

+41.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 5.6M (2021) → 7.9M (2025)

Winston Score History

The full picture

NEXGEL, Inc. is a company that develops and produces advanced hydrogels and gels. These materials are characterized by their significant water content, aqueous polymer composition, and electron beam cross-linking technology. NEXGEL's diverse product range serves crucial applications across several sectors, including wound care management, medical diagnostic tools, transdermal drug delivery systems, and cosmetic formulations. The company was founded in 1997 and operated under the name AquaMed Technologies, Inc. until it rebranded as NEXGEL, Inc. in November 2019. Its headquarters are located in Langhorne, Pennsylvania.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+27.8% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-360.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$2,000/ year

Declining (-97% vs prior year)

0.0% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Cash Runway

~1 months

$741,000 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Strong grower

NEXGEL is growing revenue at 28% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
30.1%
Modest — 30.1% gross margin
Profit after running costs
Operating Margin
-68.0%
Losing money on operations — -68.0%
Return on the money invested
ROCE
-57.7%
Weak — -57.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+3.4%
Slow sales growth (+3.4% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-27.6%
Burning cash (-27.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.89
Moderate — manageable debt (0.89)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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