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Company Reports $13.8M in Q3 Revenue as Refocusing and Cost Cutting Initiatives Drive Improved Late Quarter Performance with Accelerated Sequential Improvements Expected in Q4 and into 2026
HALLANDALE BEACH, Fla., Nov. 13, 2025 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global consumer products and services company providing healthcare and technology solutions through e-commerce and retail channels worldwide, today announced the financial results for the quarter-ended September 30, 2025, reflecting the performance of its e-Commerce and Healthcare Operations.
"Late in the third quarter, we began to see the positive impact of our cost-cutting, customer re-engagement, and business efficiency efforts, reversing the sequential declines witnessed in the first half of 2025. Based upon the significant increased prescription volumes and related revenue recorded in our healthcare segment in early Q4, combined with accelerating cost reductions across the organization, it is clear that our refocusing efforts are delivering the positive impacts we expected, laying the groundwork for much-improved financial results into early 2026," said David Phipps, Chief Executive Officer and President of NextPlat Corp.
Third Quarter 2025 Financial Highlights:
Organizational Highlights and Recent Business Developments:
Third Quarter 2025 Conference Call Notification
NextPlat's Chief Executive Officer and President, David Phipps, its Chief Financial Officer, Amanda Ferrio, and Vice President of Healthcare Operations, Birute Norkute, will host a conference call today, November 13th at 8:30 a.m. Eastern time to discuss the results for the quarter ended September 30, 2025, as well as other recent developments.
To access the call, please use the following information:
|
Date: |
Thursday, November 13, 2025 |
|
Time: |
8:30 a.m. Eastern time |
|
Toll-free dial-in number: |
1-800-836-8184 |
|
International dial-in number: |
1-646-357-8785 |
|
Conference webcast link: |
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization.
The conference call will be broadcast live and available for replay at https://app.webinar.net/EYVam5wPR3y and via the investor relations section of the Company's website at https://ir.nextplat.com/news-events/ir-calendar/detail/20251113-q3-2025-results-conference-call. A replay of the conference call will be available after 12:00 p.m. Eastern time through November 20, 2025.
|
Toll-free replay number: |
1-888-660-6345 |
|
International replay number: |
1-646-517-4150 |
|
Replay entry code: |
03432 # |
The financial information included in this press release should be read in conjunction with the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 filed with the Securities and Exchange Commission.
About NextPlat Corp
NextPlat is a global consumer products and services company providing healthcare and technology solutions through e-Commerce and retail channels worldwide. Through acquisitions, joint ventures and collaborations, the Company seeks to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional e-commerce capabilities for consumer and healthcare products and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
Media and Investor Contact for NextPlat Corp:
Michael Glickman
MWGCO, Inc.
917-397-2272
[email protected]
|
NEXTPLAT CORP AND SUBSIDIARIES |
||||||||||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS |
||||||||||||||||
|
(In thousands, except per share data) |
||||||||||||||||
|
(Unaudited) |
||||||||||||||||
|
|
||||||||||||||||
|
|
|
Three Months Ended September |
|
|
Nine Months Ended September |
|
||||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
||||
|
Sales of products, net |
|
$ |
13,099 |
|
|
$ |
12,865 |
|
|
$ |
38,444 |
|
|
$ |
41,015 |
|
|
Revenues from services |
|
|
653 |
|
|
|
2,502 |
|
|
|
3,073 |
|
|
|
8,834 |
|
|
Revenue, net |
|
|
13,752 |
|
|
|
15,367 |
|
|
|
41,517 |
|
|
|
49,849 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of products |
|
|
11,012 |
|
|
|
11,799 |
|
|
|
32,410 |
|
|
|
35,539 |
|
|
Cost of services |
|
|
10 |
|
|
|
10 |
|
|
|
31 |
|
|
|
31 |
|
|
Cost of revenue |
|
|
11,022 |
|
|
|
11,809 |
|
|
|
32,441 |
|
|
|
35,570 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
2,730 |
|
|
|
3,558 |
|
|
|
9,076 |
|
|
|
14,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
|
1,510 |
|
|
|
1,728 |
|
|
|
4,415 |
|
|
|
4,650 |
|
|
Salaries, wages and payroll taxes |
|
|
2,665 |
|
|
|
3,478 |
|
|
|
7,929 |
|
|
|
10,293 |
|
|
Impairment loss |
|
|
— |
|
|
|
3,729 |
|
|
|
— |
|
|
|
13,653 |
|
|
Professional fees |
|
|
389 |
|
|
|
2,144 |
|
|
|
1,509 |
|
|
|
4,133 |
|
|
Depreciation and amortization |
|
|
130 |
|
|
|
197 |
|
|
|
450 |
|
|
|
608 |
|
|
Intangible asset amortization |
|
|
25 |
|
|
|
281 |
|
|
|
76 |
|
|
|
1,679 |
|
|
Total operating expenses |
|
|
4,719 |
|
|
|
11,557 |
|
|
|
14,379 |
|
|
|
35,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before other (income) expense |
|
|
(1,989) |
|
|
|
(7,999) |
|
|
|
(5,303) |
|
|
|
(20,737) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other (income) expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss (gain) on sale or disposal of property and equipment |
|
|
36 |
|
|
|
(98) |
|
|
|
199 |
|
|
|
(98) |
|
|
Loss on settlement of litigation |
|
|
250 |
|
|
|
— |
|
|
|
250 |
|
|
|
— |
|
|
Interest expense |
|
|
14 |
|
|
|
22 |
|
|
|
47 |
|
|
|
62 |
|
|
Interest earned |
|
|
(88) |
|
|
|
(183) |
|
|
|
(295) |
|
|
|
(596) |
|
|
Other income |
|
|
— |
|
|
|
(2) |
|
|
|
— |
|
|
|
(2) |
|
|
Foreign currency exchange rate variance |
|
|
10 |
|
|
|
(119) |
|
|
|
(201) |
|
|
|
(87) |
|
|
Total other (income) expense |
|
|
222 |
|
|
|
(380) |
|
|
|
— |
|
|
|
(721) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income taxes and non-controlling interest |
|
|
(2,211) |
|
|
|
(7,619) |
|
|
|
(5,303) |
|
|
|
(20,016) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes |
|
|
26 |
|
|
|
(45) |
|
|
|
(14) |
|
|
|
(92) |
|
|
Net loss |
|
|
(2,185) |
|
|
|
(7,664) |
|
|
|
(5,317) |
|
|
|
(20,108) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to non-controlling interest |
|
|
— |
|
|
|
3,448 |
|
|
|
— |
|
|
|
9,100 |
|
|
Net loss attributable to NextPlat Corp |
|
$ |
(2,185) |
|
|
$ |
(4,216) |
|
|
$ |
(5,317) |
|
|
$ |
(11,008) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(2,185) |
|
|
$ |
(7,664) |
|
|
$ |
(5,317) |
|
|
$ |
(20,108) |
|
|
Foreign currency gain (loss) |
|
|
18 |
|
|
|
6 |
|
|
|
(51) |
|
|
|
(30) |
|
|
Comprehensive loss |
|
$ |
(2,167) |
|
|
$ |
(7,658) |
|
|
$ |
(5,368) |
|
|
$ |
(20,138) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS |
|
$ |
(2,185) |
|
|
$ |
(4,216) |
|
|
$ |
(5,317) |
|
|
$ |
(11,008) |
|
|
Weighted number of common shares outstanding – basic and diluted |
|
|
25,992 |
|
|
|
18,982 |
|
|
|
25,974 |
|
|
|
18,844 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted loss per share |
|
$ |
(0.08) |
|
|
$ |
(0.22) |
|
|
$ |
(0.20) |
|
|
$ |
(0.58) |
|
|
NEXTPLAT CORP AND SUBSIDIARIES |
||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
|
(In thousands, except number of shares and par value) |
||||||||
|
|
||||||||
|
|
|
September 30, 2025 |
|
|
December 31, 2024 |
|
||
|
|
|
(Unaudited) |
|
|
(Audited) |
|
||
|
ASSETS |
|
|
|
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
|
|
|
Cash |
|
$ |
13,926 |
|
|
$ |
19,960 |
|
|
Accounts receivable, net |
|
|
4,018 |
|
|
|
4,895 |
|
|
Receivables - other, net |
|
|
1,716 |
|
|
|
732 |
|
|
Inventory, net |
|
|
5,616 |
|
|
|
4,881 |
|
|
Unbilled revenue |
|
|
306 |
|
|
|
237 |
|
|
VAT receivable |
|
|
371 |
|
|
|
371 |
|
|
Prepaid expenses |
|
|
256 |
|
|
|
404 |
|
|
Total Current Assets |
|
|
26,209 |
|
|
|
31,480 |
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
2,594 |
|
|
|
3,407 |
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill |
|
|
156 |
|
|
|
156 |
|
|
Intangible assets, net |
|
|
448 |
|
|
|
524 |
|
|
Operating right-of-use assets, net |
|
|
527 |
|
|
|
812 |
|
|
Finance right-of-use assets, net |
|
|
— |
|
|
|
5 |
|
|
Deposits |
|
|
79 |
|
|
|
94 |
|
|
Total Other Assets |
|
|
1,210 |
|
|
|
1,591 |
|
|
Total Assets |
|
$ |
30,013 |
|
|
$ |
36,478 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
6,437 |
|
|
$ |
7,230 |
|
|
Contract liabilities |
|
|
243 |
|
|
|
89 |
|
|
Notes payable |
|
|
252 |
|
|
|
380 |
|
|
Due to related party |
|
|
4 |
|
|
|
48 |
|
|
Operating lease liabilities |
|
|
356 |
|
|
|
404 |
|
|
Finance lease liabilities |
|
|
— |
|
|
|
5 |
|
|
Income taxes payable |
|
|
71 |
|
|
|
54 |
|
|
Total Current Liabilities |
|
|
7,363 |
|
|
|
8,210 |
|
|
|
|
|
|
|
|
|
|
|
|
Long Term Liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable, net of current portion |
|
|
907 |
|
|
|
1,032 |
|
|
Operating lease liabilities, net of current portion |
|
|
197 |
|
|
|
438 |
|
|
Total Liabilities |
|
|
8,467 |
|
|
|
9,680 |
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and Contingencies |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
|
|
|
Common stock ($0.0001 par value; 50,000,000 shares authorized, 26,224,987 and 25,963,051 shares issued |
|
|
3 |
|
|
|
3 |
|
|
Additional paid-in capital |
|
|
75,913 |
|
|
|
75,697 |
|
|
Accumulated deficit |
|
|
(54,267) |
|
|
|
(48,950) |
|
|
Accumulated other comprehensive loss |
|
|
(117) |
|
|
|
(66) |
|
|
Treasury stock (at cost; 130,549 shares as of September 30, 2025 and no shares as of December 31, 2024, |
|
|
(100) |
|
|
|
— |
|
|
Equity attributable to NextPlat Corp stockholders |
|
|
21,432 |
|
|
|
26,684 |
|
|
Equity attributable to non-controlling interests |
|
|
114 |
|
|
|
114 |
|
|
Total Equity |
|
|
21,546 |
|
|
|
26,798 |
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities and Equity |
|
$ |
30,013 |
|
|
$ |
36,478 |
|
SOURCE NextPlat Corp.
| 48 min | |
| 1 hour | |
| 2 hours | |
| 2 hours | |
| 2 hours | |
| 3 hours | |
| 4 hours | |
| 5 hours | |
| 5 hours |
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