The following is a summary of the NEXGEL, Inc. (NXGL) Q4 2023 Earnings Call Transcript:

Financial Performance:

• NEXGEL reported a nearly 100% revenue growth during 2023, amounting to approximately $4.1 million.

• Gross margins for the year were 15.1%, up from 12.5% in 2022.

• Q4 earnings from branded products reached $392,000, reflecting a 104.2% increase year-over-year and a 10.1% increase sequentially.

• For Q1 2024, the company expects revenues of $1.25 million with similar or slightly improved margins.

• The company's net loss for the year ending December 31, 2023, was $3.2 million, which is an improvement from a loss of $4.7 million in the same period in 2022.

Business Progress:

• In 2023, NEXGEL expanded its operation infrastructure, establishing strategic partnerships and making key investments.

• The company achieved a significant growth driven by a 166% increase in contract manufacturing and 52% increase in branded products.

• Major collaborations have been made, including an exclusive supply agreement deal with AbbVie and a partnership with European leader STADA.

• The company acquired Kenkoderm, a skincare company, anticipating positive contributions to the financial results of Q1 2024.

• To meet future growth demands, the company plans to expand facilities and increase operational efficiency.

• The company invested and will continue to invest for European medical regulation compliance.

More details: NexGel IR

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