Accessibility StatementSkip Navigation New Contract Supports Medication Fulfillment to Initial Customers in Florida and Georgia HALLANDALE BEACH, Fla., Nov. 5, 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 that its PharmcoRx subsidiary has been awarded a new multi-state prescription fulfillment services cont ...

Core Points - NextPlat Corp will release its financial results for the quarter ended September 30, 2025, before market open on November 13, 2025 [1] - A conference call will be hosted by NextPlat's CEO, CFO, and VP of Healthcare Operations on November 13, 2025, at 8:30 a.m. EDT to discuss the financial results and recent developments [2] - Investors are encouraged to submit questions for the Q&A portion of the call prior to November 7, 2025 [2] Conference Call Details - Date: November 13, 2025 [3] - Time: 8:30 a.m. Eastern time [3] - Toll-free dial-in number: 1-800-836-8184 [3] - International dial-in number: 1-646-357-8785 [3] - Conference webcast link: https://app.webinar.net/EYVam5wPR3y [3] Replay Information - The conference call will be available for replay after 12:00 p.m. Eastern time through November 20, 2025 [4] - Toll-free replay number: 1-888-660-6345 [5] - International replay number: 1-646-517-4150 [5] - Replay entry code: 03432 [5] Company Overview - NextPlat Corp is a global consumer products and services company providing healthcare and technology solutions through e-commerce and retail channels [6] - The company 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 U.S. through its subsidiary, Progressive Care [6]

Core Points - NextPlat Corp has received a 180-calendar-day extension from Nasdaq to regain compliance with the minimum bid price requirement, now having until April 27, 2026, to maintain a closing bid price of at least $1.00 per share for ten consecutive business days [1][2] - The extension does not affect the continued listing status of NextPlat's common stock on The Nasdaq Capital Market under the symbol "NXPL" [1] - If the company fails to meet the minimum bid requirement during the extension, it may face delisting, but it can appeal the decision to a Nasdaq Hearings Panel [2] Company Overview - NextPlat is a global consumer products and services company that provides healthcare and technology solutions through e-commerce and retail channels [4] - The company operates an e-commerce communications division offering various products and services, including voice, data, tracking, and IoT, as well as pharmacy and healthcare data management services in the U.S. through its subsidiary, Progressive Care [4]

Core Insights - NextPlat Corp has promoted Amanda L. Ferrio to Chief Financial Officer, succeeding Cecile Munnik, who is leaving the company after a transition period [1][3] Company Overview - NextPlat Corp is a global consumer products and services company that provides healthcare and technology solutions through e-commerce and retail channels [5] - The company aims to assist businesses in optimizing their e-commerce presence and revenue through acquisitions, joint ventures, and collaborations [5] Leadership Transition - Amanda L. Ferrio has over 15 years of accounting and finance experience, previously serving as Vice President of Accounting & Finance at Progressive Care, which was acquired by NextPlat [2][4] - Ferrio's responsibilities at Progressive Care included financial reporting, budgeting, forecasting, and managing SEC filings [2] - The CEO of NextPlat expressed confidence in Ferrio's ability to enhance the company's financial performance and shareholder value [3] Future Contributions - Ferrio expressed gratitude for the opportunity to contribute to NextPlat's transformation and aims to improve operational and financial performance [3]

Core Insights - NextPlat Corp has made significant progress in securing new healthcare contracts, implementing cost reductions, and launching AI-powered healthcare management software and consumer health products as it approaches the final quarter of 2025 [1][10]. Operational Developments - The leadership has conducted a comprehensive review of the business and implemented a strategic plan to address challenges and opportunities, focusing on reducing corporate overheads and enhancing operational efficiency [2][5]. - Significant progress has been made in reducing costs, with an expected additional $1.0 million in yearly overhead reductions from measures such as closing underutilized office space and consolidating personnel [5][6]. Business Development and Growth - NextPlat's business model includes healthcare services, communications products, and e-commerce development, with notable progress in each area [4][6]. - The healthcare services segment has secured new contracts and invested in product enhancements, which are expected to contribute to growth starting late 2025 [6][8]. Healthcare Services - The healthcare management team has been realigned under new leadership, aiming to improve operations and support business development [5][6]. - A new prescription management contract has been expanded to a second facility, anticipated to significantly increase new prescriptions [6]. Communications Sector - The communications business is experiencing increased transaction volumes, driven by partnerships with satellite network operators, leading to record levels of recurring revenue [8]. - Hardware demand is growing, with significant sales of satellite-enabled devices and plans to expand partnerships with leading hardware providers [8]. E-Commerce Development - Sales activity in the e-commerce sector is increasing, supported by a partnership with OPKO Health for health products in China, which is not subject to current tariffs [8]. - The launch of the Florida Sunshine brand of vitamins and supplements is underway, with initial sales recorded and plans for a digital advertising program to boost visibility [8].

Core Insights - NextPlat Corp's ClearMetrx subsidiary is developing ClearMetrX 4.0, an AI-enhanced healthcare data analytics software, expected to launch internally in Q4 2025 and commercially in H1 2026 [1][2]. Company Overview - NextPlat Corp is a global consumer products and services company that provides healthcare and technology solutions through e-Commerce and retail channels [5]. Product Development - ClearMetrX 4.0 will feature AI-powered enhancements aimed at improving healthcare data collection, analysis, and operationalization, thereby supporting better patient outcomes and adherence [2][3]. - The software will include capabilities such as revenue forecasting, predictive inventory management, anomaly detection, audit assistance, fraud detection, and what-if simulations [6]. Market Context - The global AI in healthcare market was valued at approximately USD 26.57 billion in 2024 and is projected to grow to USD 187.69 billion by 2030, with a CAGR of 38.62% from 2025 to 2030, driven by the demand for efficiency and accuracy in healthcare [2].

Core Viewpoint - NextPlat Corp has launched its Florida Sunshine brand of premium vitamins and supplements, aiming to capture a share of the growing global vitamins and nutraceuticals market driven by increasing consumer demand for preventive health and wellness solutions [1][3]. Group 1: Product Launch and Market Strategy - The Florida Sunshine brand is being introduced through dedicated online storefronts in the U.S., the UK, and various European markets, supported by an international expansion plan [2]. - The product rollout will leverage an AI-powered digital advertising platform to reach consumers on major social media channels such as Facebook, Instagram, Google, TikTok, YouTube, and Microsoft [2]. - NextPlat is preparing to enter the Chinese market via Alibaba's Tmall Global, with sales expected to commence in Q4 2025 following platform approval [2][3]. Group 2: Product Features and Offerings - Florida Sunshine offers premium, Made-In-USA liposomal vitamins designed with advanced absorption technology to enhance immunity, energy, heart health, and overall wellness [3]. - The initial product range includes essential vitamins like C and D3, along with targeted supplements such as CoQ10 for cardiovascular support and Lutein for eye health [3]. Group 3: E-Commerce Development Program - NextPlat's e-Commerce development program aims to assist U.S.-based businesses in accessing the Chinese consumer market through major online platforms like Alibaba's Tmall and JD.com [3]. - The program has expanded to include additional online and social media channels such as JD.com, Weibo, WeChat, and Xiaohongshu, collectively reaching over 1 billion consumers [3]. Group 4: Potential Challenges - The company acknowledges that the sale of Florida Sunshine products in China could be adversely affected by changes in import tariffs on U.S.-produced goods, which are currently suspended [4].

Core Viewpoint - NextPlat Corp has appointed Rodney Barreto as permanent Chairman and David Phipps as permanent CEO, focusing on business refocusing, cost-cutting, and operational improvements to drive long-term growth [1][2][3]. Leadership Changes - Rodney Barreto has been a Director since January 2022 and has over 35 years of business leadership experience, including roles in the Barreto Group and Capital City Consulting [2]. - David Phipps, previously serving as President, has overseen the company's e-commerce and communications operations and played a key role in its Nasdaq listing in 2021 [2]. Business Strategy and Developments - The company is executing a broad range of initiatives aimed at improving operational efficiency and financial outlook, as outlined in a shareholder letter [3]. - Phipps expressed confidence in the company's initial refocusing plan, emphasizing the importance of cost-cutting and customer support for future growth [4]. - Barreto highlighted the progress made under Phipps' leadership and the expectation of continued upward trends [4]. Operational Improvements - NextPlat has made several leadership and staffing changes, including the reconstitution of its Board of Directors and the addition of healthcare leadership to enhance business processes [6]. - The company has secured new business opportunities in its healthcare segment, including a subcontract for prescription management services and expanded its 340B business with three new clinic contracts [6]. - A consolidation of headquarters operations is expected to reduce overhead expenses by approximately $240,000 annually starting in 2026 [6]. Financial Initiatives - The company initiated a share repurchase program during the third quarter of 2025, indicating a commitment to returning value to shareholders [6].

Core Insights - NextPlat Corp is strategically expanding its healthcare operations, focusing on enhancing customer service and introducing new services for 340B and long-term care providers [1][2] - The company has appointed new senior leadership to drive this expansion, including Birute Norkute as Vice President of Healthcare Operations and Alexis Fernandez as Director of Pharmacy [5] Group 1: Company Strategy - NextPlat aims to capitalize on the expanding healthcare market by investing in talented leadership and entering higher-margin healthcare segments to enhance profitability and shareholder value [2] - The company is making investments into PharmcoRx to support growth and profitability, including hiring dedicated sales and marketing professionals for securing 340B and Long-Term Care contracts [5] Group 2: Leadership Appointments - Birute Norkute has been appointed as Vice President of Healthcare Operations, bringing over a decade of experience from Progressive Care, where she led significant growth and operational success [5] - Alexis Fernandez, with over 20 years of pharmacy experience, has been appointed as Director of Pharmacy, focusing on improving pharmacy operations and patient care [5] Group 3: Operational Enhancements - NextPlat is initiating a technology upgrade cycle aimed at improving internal process efficiencies and enhancing patient care and customer service responsiveness [5] - The company is focused on building a strong reputation in the healthcare sector, leveraging its leadership's experience to drive operational excellence and service quality [5]

[Executive Summary](index=1&type=section&id=Executive%20Summary) NextPlat's Q2 revenue declined to $13.2 million, primarily from Healthcare Operations, but net loss decreased 66% due to expense reductions and strategic efficiency initiatives [Q2 2025 Performance Overview](index=1&type=section&id=Q2%202025%20Performance%20Overview) NextPlat reported $13.2 million in Q2 revenue, a decrease from the prior year, primarily due to challenges in Healthcare Operations, while achieving a significant reduction in operating expenses and net loss Q2 2025 Financial Performance | Metric | Q2 2025 | Q2 2024 | | :------------------------------------------------ | :------ | :------ | | Consolidated Revenue | $13.2M | $17.0M | | Net Loss Attributable to NextPlat Corp | ($1.8M) | ($5.3M) | | Diluted EPS | ($0.07) | ($0.28) | - Net loss attributable to NextPlat Corp common shareholders decreased **66% year-over-year**[6](index=6&type=chunk) [Strategic Focus and Outlook](index=1&type=section&id=Strategic%20Focus%20and%20Outlook) The company is implementing cost reduction and efficiency improvements, particularly in Healthcare Operations, to support growth and improve profitability, guided by a strategic review identifying key objectives - Company continues cost reduction and efficiency improvements to support growth[2](index=2&type=chunk) - Implementing initiatives in Healthcare Operations to positively transform business, attract and retain customers, and move into higher margin/growth segments[3](index=3&type=chunk) - Identified three primary objectives: continued operational process efficiency and cost reduction, ensuring necessary talent, and renewing commitment to prudently invest for opportunities, cashflow, and long-term profitability[7](index=7&type=chunk) [Second Quarter 2025 Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Highlights) Q2 2025 consolidated revenue declined to $13.2 million with reduced gross profit margins, yet operating expenses significantly decreased to $4.7 million, leading to a substantial net loss improvement [Consolidated Revenue and Gross Profit](index=1&type=section&id=Consolidated%20Revenue%20and%20Gross%20Profit) Consolidated revenue for Q2 2025 decreased to $13.2 million from $17.0 million in Q2 2024, primarily due to declines in Healthcare Operations, with overall gross profit margin also significantly declining to 21.8% Consolidated Revenue and Gross Profit Margins | Metric | Q2 2025 | Q2 2024 | Change | | :-------------------------------- | :------ | :------ | :----- | | Consolidated Revenue | $13.2M | $17.0M | -$3.8M | | Overall Gross Profit Margin | 21.8% | 34.5% | -12.7% | | Healthcare Gross Profit Margin | 19.9% | 35.2% | -15.3% | | e-Commerce Gross Profit Margin | 25.9% | 31.6% | -5.7% | - Decrease in consolidated revenue primarily driven by a **$2.3 million decrease in pharmacy prescription revenue** and a **$2.0 million decrease in pharmacy 340B contract revenue** within Healthcare Operations[6](index=6&type=chunk) - Healthcare gross profit margin decreased due to lower prescription fills, 340B revenue, and drug price increases outpacing reimbursement rates; e-Commerce gross profit margin decreased due to new airtime costs and temporary rate reductions[6](index=6&type=chunk) [Operating Expenses and Net Loss](index=1&type=section&id=Operating%20Expenses%20and%20Net%20Loss) Operating expenses significantly decreased to $4.7 million in Q2 2025 from $16.8 million in Q2 2024, largely due to the absence of a $9.7 million non-recurring impairment loss and other reductions, leading to a substantial reduction in net loss Operating Expenses and Net Loss Summary | Metric | Q2 2025 | Q2 2024 | Change | | :------------------------------------------------ | :------ | :------ | :----- | | Operating Expenses | $4.7M | $16.8M | -$12.1M | | Net Loss Attributable to NextPlat Corp | ($1.8M) | ($5.3M) | $3.5M improvement | | Basic and Diluted Loss Per Share | ($0.07) | ($0.28) | $0.21 improvement | - Operating expenses decreased primarily due to the absence of a **$9.7 million non-recurring impairment loss** in the prior year, and ongoing reductions in stock-based compensation, executive compensation, and headcount[6](index=6&type=chunk) - Company anticipates annual expense savings in excess of **$1.0 million** from operational process efficiency improvements and staff adjustments[6](index=6&type=chunk) [Cash Position](index=1&type=section&id=Cash%20Position) The company ended the second quarter of 2025 with approximately $16.6 million in cash Cash Position | Metric | June 30, 2025 (M USD) | December 31, 2024 (M USD) | | :----- | :-------------------- | :------------------------ | | Cash | $16.6M | $19.96M | [Organizational Highlights and Recent Business Developments](index=1&type=section&id=Organizational%20Highlights%20and%20Recent%20Business%20Developments) NextPlat implements Healthcare cost-reductions, expands e-Commerce, pursues product market expansion for OPKO and Florida Sunshine, and defined strategic objectives following a post-CEO strategic review [Healthcare Operations Initiatives](index=1&type=section&id=Healthcare%20Operations%20Initiatives) NextPlat is actively implementing cost-reduction and business process improvements in its Healthcare Operations, including technology upgrades and recruiting dedicated sales professionals, with positive impacts expected through 2025 and 2026 - Continued efforts to implement cost-reduction and business process improvements in Healthcare Operations, such as technology upgrades and recruitment of sales professionals for 340B and Long-Term Care segments[5](index=5&type=chunk) - Positive impact of these efforts expected to contribute to operational results throughout remainder of 2025 and into 2026[5](index=5&type=chunk) [e-Commerce Operations Growth](index=2&type=section&id=e-Commerce%20Operations%20Growth) The e-Commerce segment continues to grow, driven by record levels of recurring airtime contracts and elevated hardware sales, with near-term opportunities in new connectivity contracts and mission-critical communications expansion in Europe - e-Commerce revenue for connectivity products and services continues to grow, driven by record-levels of recurring airtime contracts and elevated hardware sales[7](index=7&type=chunk) - Securing new connectivity contracts and expanding mission-critical communications capabilities for enterprise, government, and humanitarian organizations across Europe[7](index=7&type=chunk) [Product and Market Expansion](index=2&type=section&id=Product%20and%20Market%20Expansion) Sales of OPKO Healthcare products on Alibaba's Tmall Global in China continue despite inventory limitations, with regulatory approval for OPKO pet health products anticipated in Q4, and Florida Sunshine vitamins launching in the UK and EU - Growth in sales of OPKO Healthcare products on Alibaba's Tmall Global in China, with efforts to secure increased inventory volumes[7](index=7&type=chunk) - Anticipates regulatory approval for OPKO pet health products in Q4, with sales to commence approximately 12 weeks after receipt[7](index=7&type=chunk) - Florida Sunshine-branded US-produced vitamins launch in China temporarily on hold due to evolving trade conditions, but now launching in the UK and EU[7](index=7&type=chunk) [Post-CEO Strategic Review](index=2&type=section&id=Post-CEO%20Strategic%20Review) Following the passing of the former CEO, the company conducted an extensive business review, particularly of Healthcare Operations, identifying three key objectives: operational efficiency, talent empowerment, and prudent investment for growth and profitability - Completed extensive business review, focusing on Healthcare Operations, identifying three primary objectives: operational process efficiency and cost reduction for maximum ROI, talent empowerment for growth, and prudent investment for opportunities, cashflow, and long-term profitability[7](index=7&type=chunk) - Significant developments against these objectives expected over the next 60 days[7](index=7&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) Financial statements show a reduced Q2 2025 net loss due to lower operating expenses, alongside decreased total assets, liabilities, and cash position [Condensed Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) The condensed consolidated statements of comprehensive loss show a significant reduction in net loss for both the three and six months ended June 30, 2025, compared to the prior year periods, primarily driven by lower operating expenses Condensed Consolidated Statements of Comprehensive Loss | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Revenues, net | $13,240 | $16,989 | $27,765 | $34,482 | | Gross profit | $2,883 | $5,858 | $6,346 | $10,720 | | Total operating expenses | $4,712 | $16,754 | $9,660 | $23,457 | | Net loss attributable to NextPlat Corp | ($1,789) | ($5,311) | ($3,132) | ($6,791) | | Basic and diluted loss per share | ($0.07) | ($0.28) | ($0.12) | ($0.36) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The condensed consolidated balance sheets show a decrease in total assets from $36.478 million at December 31, 2024, to $31.033 million at June 30, 2025, with corresponding decreases in total liabilities and cash Condensed Consolidated Balance Sheets | Metric (in thousands) | June 30, 2025 | December 31, 2024 | | :-------------------- | :------------ | :---------------- | | Total Assets | $31,033 | $36,478 | | Total Liabilities | $7,425 | $9,680 | | Total Equity | $23,608 | $26,798 | | Cash | $16,635 | $19,960 | | Accounts receivable, net | $3,153 | $4,895 | | Inventory, net | $5,215 | $4,881 | [Additional Information](index=3&type=section&id=Additional%20Information) This section details the Q2 2025 conference call, company overview, forward-looking statement disclaimers, and media/investor contact information [Conference Call Notification](index=3&type=section&id=Conference%20Call%20Notification) NextPlat will host a conference call on August 14, 2025, at 8:30 a.m. Eastern time to discuss Q2 2025 results and recent developments, with dial-in and webcast details provided Conference Call Details | Detail | Information | | :------------------------ | :-------------------------- | | Date | Thursday, August 14, 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 | https://app.webinar.net/okKXG80G0MA | [About NextPlat Corp](index=3&type=section&id=About%20NextPlat%20Corp) NextPlat Corp is a global consumer products and services company offering healthcare and technology solutions through e-Commerce and retail channels, operating an e-Commerce communications division and pharmacy/healthcare data management services - NextPlat is a global consumer products and services company providing healthcare and technology solutions through e-Commerce and retail channels worldwide[12](index=12&type=chunk) - Operates an e-Commerce communications division (voice, data, tracking, IoT) and pharmacy and healthcare data management services in the US through Progressive Care[12](index=12&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) The release contains forward-looking statements subject to known and unknown risks and uncertainties that could cause actual results to differ materially, and the company disclaims any obligation to update these statements - Statements in this release are forward-looking and involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ[13](index=13&type=chunk) - Company disclaims any obligation to update forward-looking statements[13](index=13&type=chunk) [Media and Investor Contact](index=3&type=section&id=Media%20and%20Investor%20Contact) Contact information for media and investor inquiries is provided - Media and Investor Contact: Michael Glickman, MWGCO, Inc., 917-397-2272, mike@mwgco.net[14](index=14&type=chunk)