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Side-by-side financial comparison of NEXGEL, INC. (NXGL) and Token Cat Ltd (TC). Click either name above to swap in a different company.
NEXGEL, INC. is the larger business by last-quarter revenue ($2.8M vs $2.8M, roughly 1.0× Token Cat Ltd). Token Cat Ltd runs the higher net margin — -3.4% vs -34.7%, a 31.3% gap on every dollar of revenue. On growth, NEXGEL, INC. posted the faster year-over-year revenue change (-8.1% vs -37.9%).
NEXGEL, INC. is a specialty consumer healthcare and medical technology firm that develops, manufactures and distributes ultra-gentle, irritation-free hydrogel products. Its offerings span over-the-counter skincare remedies, wound care solutions, and topical drug delivery platforms, serving consumer, clinical and pharmaceutical partner segments primarily across North America, with growing global distribution channels.
NXGL vs TC — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $2.8M |
| Net Profit | $-970.0K | $-93.0K |
| Gross Margin | 29.3% | 79.0% |
| Operating Margin | -43.4% | -206.9% |
| Net Margin | -34.7% | -3.4% |
| Revenue YoY | -8.1% | -37.9% |
| Net Profit YoY | -14.1% | 98.3% |
| EPS (diluted) | $-0.12 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.8M | — | ||
| Q3 25 | $2.9M | — | ||
| Q2 25 | $2.9M | $2.8M | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | $3.0M | — | ||
| Q3 24 | $2.9M | — | ||
| Q2 24 | $1.4M | $4.4M | ||
| Q1 24 | $1.3M | — |
| Q4 25 | $-970.0K | — | ||
| Q3 25 | $-653.0K | — | ||
| Q2 25 | $-665.0K | $-93.0K | ||
| Q1 25 | $-712.0K | — | ||
| Q4 24 | $-850.0K | — | ||
| Q3 24 | $-693.0K | — | ||
| Q2 24 | $-885.0K | $-5.6M | ||
| Q1 24 | $-853.0K | — |
| Q4 25 | 29.3% | — | ||
| Q3 25 | 42.4% | — | ||
| Q2 25 | 43.6% | 79.0% | ||
| Q1 25 | 42.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 39.3% | — | ||
| Q2 24 | 20.3% | 69.2% | ||
| Q1 24 | 12.6% | — |
| Q4 25 | -43.4% | — | ||
| Q3 25 | -24.7% | — | ||
| Q2 25 | -22.1% | -206.9% | ||
| Q1 25 | -27.7% | — | ||
| Q4 24 | -27.6% | — | ||
| Q3 24 | -26.8% | — | ||
| Q2 24 | -73.2% | -146.9% | ||
| Q1 24 | -68.8% | — |
| Q4 25 | -34.7% | — | ||
| Q3 25 | -22.3% | — | ||
| Q2 25 | -23.1% | -3.4% | ||
| Q1 25 | -25.4% | — | ||
| Q4 24 | -27.9% | — | ||
| Q3 24 | -23.6% | — | ||
| Q2 24 | -61.5% | -125.9% | ||
| Q1 24 | -67.4% | — |
| Q4 25 | $-0.12 | — | ||
| Q3 25 | $-0.08 | — | ||
| Q2 25 | $-0.09 | — | ||
| Q1 25 | $-0.09 | — | ||
| Q4 24 | $-0.11 | — | ||
| Q3 24 | $-0.11 | — | ||
| Q2 24 | $-0.14 | — | ||
| Q1 24 | $-0.14 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $150.0K |
| Total DebtLower is stronger | $588.0K | $1.4M |
| Stockholders' EquityBook value | $4.5M | $4.6M |
| Total Assets | $10.5M | $28.4M |
| Debt / EquityLower = less leverage | 0.13× | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $938.0K | — | ||
| Q2 25 | — | $150.0K | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8M | — | ||
| Q3 24 | $1.1M | — | ||
| Q2 24 | — | $689.0K | ||
| Q1 24 | — | — |
| Q4 25 | $588.0K | — | ||
| Q3 25 | $614.0K | — | ||
| Q2 25 | $638.0K | $1.4M | ||
| Q1 25 | $662.0K | — | ||
| Q4 24 | $685.0K | — | ||
| Q3 24 | $709.0K | — | ||
| Q2 24 | $732.0K | $1.8M | ||
| Q1 24 | $750.0K | — |
| Q4 25 | $4.5M | — | ||
| Q3 25 | $5.2M | — | ||
| Q2 25 | $4.7M | $4.6M | ||
| Q1 25 | $5.2M | — | ||
| Q4 24 | $5.8M | — | ||
| Q3 24 | $4.7M | — | ||
| Q2 24 | $4.2M | $-787.0K | ||
| Q1 24 | $4.8M | — |
| Q4 25 | $10.5M | — | ||
| Q3 25 | $11.6M | — | ||
| Q2 25 | $9.7M | $28.4M | ||
| Q1 25 | $10.4M | — | ||
| Q4 24 | $11.0M | — | ||
| Q3 24 | $10.6M | — | ||
| Q2 24 | $9.8M | $12.5M | ||
| Q1 24 | $10.4M | — |
| Q4 25 | 0.13× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.14× | 0.30× | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.18× | — | ||
| Q1 24 | 0.16× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $281.0K | $-23.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $281.0K | — | ||
| Q3 25 | $-785.0K | — | ||
| Q2 25 | $-407.0K | $-23.7M | ||
| Q1 25 | $-400.0K | — | ||
| Q4 24 | $-859.0K | — | ||
| Q3 24 | $-1.2M | — | ||
| Q2 24 | $-700.0K | $-1.5M | ||
| Q1 24 | $-1.1M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-793.0K | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.2M | — | ||
| Q2 24 | $-909.0K | $-1.5M | ||
| Q1 24 | $-1.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | -27.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -41.8% | — | ||
| Q2 24 | -63.1% | -34.4% | ||
| Q1 24 | -98.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 14.5% | 0.0% | ||
| Q1 24 | 12.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
