Revenue: As of FY2025 Q3, the actual value is USD 2.934 M, missing the estimate of USD 3.164 M.EPS: As of FY2025 Q3, the actual value is USD -0.08.EBIT: As of FY2025 Q3, the actual value is USD -715 K.<h3>NexGel Segment</h3><ul><li>Revenue: For the three months ended September 30, 2025, the NexGel segment generated $2,228 thousand in revenue, compared to $2,435 thousand for the same period in 2024. For the nine months ended September 30, 2025, revenue was $6,560 thousand, compared to $4,378 thousand in 2024.</li><li>Cost of Revenues: The cost of revenues for the three months ended September 30, 2025, was $1,127 thousand, compared to $1,282 thousand in 2024. For the nine months ended September 30, 2025, the cost was $3,453 thousand, compared to $2,799 thousand in 2024.</li><li>Operating Expenses: Operating expenses for the three months ended September 30, 2025, were $1,833 thousand, compared to $1,746 thousand in 2024. For the nine months ended September 30, 2025, operating expenses were $5,422 thousand, compared to $3,887 thousand in 2024.</li><li>Income (Loss) from Operations: The segment reported a loss from operations of - $732 thousand for the three months ended September 30, 2025, compared to a loss of - $593 thousand in 2024. For the nine months ended September 30, 2025, the loss was - $2,315 thousand, compared to - $2,308 thousand in 2024.</li></ul><h3>CGN JV Segment</h3><ul><li>Revenue: For the three months ended September 30, 2025, the CGN JV segment generated $706 thousand in revenue, compared to $505 thousand for the same period in 2024. For the nine months ended September 30, 2025, revenue was $2,065 thousand, compared to $1,269 thousand in 2024.</li><li>Cost of Revenues: The cost of revenues for the three months ended September 30, 2025, was $564 thousand, compared to $503 thousand in 2024. For the nine months ended September 30, 2025, the cost was $1,482 thousand, compared to $1,174 thousand in 2024.</li><li>Operating Expenses: Operating expenses for the three months ended September 30, 2025, were $135 thousand, compared to $197 thousand in 2024. For the nine months ended September 30, 2025, operating expenses were $406 thousand, compared to $500 thousand in 2024.</li><li>Income (Loss) from Operations: The segment reported an income from operations of $7 thousand for the three months ended September 30, 2025, compared to a loss of - $195 thousand in 2024. For the nine months ended September 30, 2025, the income was $177 thousand, compared to a loss of - $405 thousand in 2024.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>Core Business Focus: NexGel plans to maintain and grow its existing contract manufacturing business while expanding its consumer product lines. The company aims to develop proprietary medical devices and explore drug delivery programs. Additionally, strategic initiatives such as acquisitions and capital raises through debt or equity are being evaluated to support these objectives.</li><li>Non-Core Business: The company is exploring new product channel sales in adjacent industries, such as cosmetics and athletic products, to provide financial stability and long-term shareholder value creation.</li></ul>

Nexgel | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 2.934 M