Contract Renewal for Hardware and High Margin Recurring Airtime Services Expected to Contribute to Continued Growth in Connectivity Services Revenue Throughout 2025 COCONUT GROVE, Fla., April 14, 2025 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced that its subsidiary, Global Telesat Communications Ltd ("GTC") has received a one-year wireless connectivity services contract extension from an African military customer. The origin ...

The Company Expects the Continued Sale of OPKO-Branded Products in China but is Pausing Activities for Future US-Produced Products Including its Florida Sunshine Brand of Vitamins and Supplements Due to Tariff Impact COCONUT GROVE, Fla., April 11, 2025 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today provided an update on the impact of current United States/China tariffs on its e-Commerce development program as a result of China's escalat ...

Core Insights - NextPlat Corp's subsidiary, Global Telesat Communications Ltd, has secured a connectivity services contract from a central UK Government department, marking the first contract of this nature for GTC [1][2] - The contract involves providing Iridium Push-To-Talk (PTT) devices and recurring airtime services, aimed at enhancing communication for government staff involved in policy development and coordination [2][4] - Initial product shipments are expected in the second quarter, with the products not impacted by recent US tariffs [2] Company Overview - NextPlat is a global e-commerce platform focused on high-growth sectors such as technology and healthcare, aiming to assist businesses in optimizing their online sales [6] - The company operates an e-commerce communications division that offers voice, data, tracking, and IoT products and services globally, along with pharmacy and healthcare data management services in the US through its subsidiary, Progressive Care LLC [6]

Organizational Highlights and Recent Business Developments: ● Consolidated revenue for the year ended December 31, 2024, was approximately $65.5 million, an increase of 73% versus revenue of approximately $37.8 million for the prior year, primarily attributable to an increase of approximately $24.9 million from a full year of Healthcare Operations in 2024 versus six months in 2023. Annual revenue exceeded earlier expectations due to Healthcare Operations outperforming our projected prescription fulfillment. ...

NextPlat Corp (NASDAQ:NXPL) Q4 2024 Earnings Conference Call March 24, 2025 8:30 AM ET Company Participants Charles Fernandez - CEO and Executive Chairman of the Board David Phipps - President and CEO of Global Operations Cecile Munnik - CFO Conference Call Participants Operator Welcome to the NextPlat Corp 2024 Earnings Conference Call. Certain statements made during this conference call constitute forward-looking statements. These statements include the capabilities and success of the Company's business a ...

Core Viewpoint - NextPlat Corp reported significant growth in its financial results for the fiscal year ended December 31, 2024, driven by the consolidation of its e-Commerce and Healthcare Operations, with a focus on expanding its market presence in the US and China [2][5]. Financial Highlights - Consolidated revenue for 2024 was approximately $65.5 million, a 73% increase from $37.8 million in 2023, largely due to a full year of Healthcare Operations compared to six months in the previous year [5][12]. - The overall gross profit margin for 2024 declined to 24.8%, with e-Commerce Operations at 24.9% and Healthcare Operations also at 24.8%, impacted by rising costs and pricing pressures [5][12]. - Operating expenses increased to approximately $40.0 million from $34.6 million in 2023, with a notable 72% rise in salaries, wages, and payroll taxes due to the full year of Healthcare Operations [5][12]. - The net loss attributable to common shareholders for 2024 was approximately $14.0 million, or ($0.68) per diluted share, compared to a net loss of approximately $3.8 million, or ($0.22) per diluted share in 2023 [5][12]. Organizational Highlights and Recent Developments - The company completed two strategic transactions in 2024: the merger with Progressive Care, making it a wholly owned subsidiary, and the acquisition of Outfitter Satellite Inc., enhancing its satellite-enabled product offerings [5][6]. - Healthcare Operations filled approximately 514,000 pharmacy prescriptions in 2024, with expectations for increased revenue from long-term care facilities and 340B covered entities in the future [5][6]. - The company launched its e-Commerce program in China on Alibaba's Tmall Global, significantly expanding its reach to nearly 1 billion potential customers in Asian markets [8][10]. - New partnerships and marketing strategies are expected to support the growth of the Florida Sunshine line of vitamins and supplements, with anticipated availability in multiple online marketplaces starting in late Q2 2025 [8][10].

Business Segments - NextPlat Corp operates in two segments: e-Commerce Operations and Healthcare Operations, with a focus on improving patient lives through healthcare solutions and enhancing e-commerce capabilities[18][41]. - The company has over 10,000 product listings across 25 third-party e-commerce storefronts, with Amazon representing approximately 32.8% and 51.6% of total sales for the years ended December 31, 2024, and 2023, respectively[33]. - NextPlat serves a diverse customer base of over 60,000 customers in more than 165 countries, with no single customer representing more than 3.0% of annual gross e-commerce sales revenue[25][40]. - The company plans to expand its e-commerce presence by developing additional country-specific websites and opening new global storefronts to target markets in South America, Asia, and Europe[32][40]. Healthcare Operations - For the year ended December 31, 2024, Pharmco achieved a Five Stars performance score from EQuIPP®, ranking among the top pharmacies in the U.S. for supplying chronic care medications[45]. - The healthcare operations include services such as medication therapy management and disease testing, enhancing patient adherence to complex drug regimens[41][44]. - Pharmco provides contracted pharmacy services under the 340B Drug Discount Pricing Program, receiving varying dispensing fees per prescription based on the level of service[47]. - Pharmco utilizes a unit-of-dose packaging system for long-term care facilities, enhancing distribution efficiency and patient care[48]. - The healthcare operations business plans to grow through data management services, which are expected to become a significant driver of growth due to their higher margins[60]. - The company aims to invest in sales and marketing to expand its pharmacy operations throughout Florida and potentially across the U.S.[61]. - Strategic acquisitions are being pursued to enhance competitive positioning in the fragmented specialty pharmacy industry[62]. - The company reports an average adherence rate of 50% among patients, attributed to proactive patient engagement and support services[65]. - The healthcare market is increasingly competitive, with significant consolidation expected to continue, impacting the company's operations[71]. - The company is committed to compliance with federal and state regulations governing pharmacy operations, ensuring all locations maintain necessary licenses[80]. - The healthcare business strategy includes leveraging data analytics to improve patient outcomes and optimize decision-making processes[53]. Financial Performance - For the year ended December 31, 2024, the company incurred a net loss of approximately $23.1 million, compared to a net loss of $12.4 million for the year ended December 31, 2023, resulting in an accumulated deficit of approximately $49.0 million[107]. - The company has incurred net losses since inception, highlighting ongoing financial challenges[107]. - The company expects to incur additional losses as it seeks to expand and find new revenue sources[107]. - The company had approximately $20.0 million in cash on hand as of December 31, 2024, indicating potential liquidity challenges for future growth[138]. - The company may need to raise additional capital to support growth and meet future liquidity needs, which may not be achievable on acceptable terms[116]. - The company is experiencing inflationary pressures, with increased costs for supplies and transportation, which may adversely affect profitability[134]. - The company may need to seek additional capital through debt or equity financing, which could dilute existing ownership and impose restrictive covenants[138]. - The company has a history of net losses and uncertainty regarding future profitability, which could impact stock value[124]. Supply Chain and Operational Challenges - The company relies heavily on a primary supplier, McKesson, which accounted for 98% of pharmaceutical purchases for the year ended December 31, 2024, indicating a significant dependency on a single source[106]. - The company has faced supply chain constraints leading to inventory shortages due to manufacturing and logistical issues[105]. - Supply chain disruptions have led to significant increases in shipping costs and delays, potentially resulting in lost sales and adverse effects on financial condition[126]. - The company relies on key suppliers for timely delivery of products, and any interruptions could reduce revenue and adversely affect operations[129]. - The company is focused on improving production efficiencies and managing its supply chain to meet future operational needs[108]. - Logistics service interruptions could adversely affect product delivery, impacting the company's competitive position and financial results[201]. Regulatory and Compliance Issues - The company is subject to increased auditing activities by state healthcare regulators due to recent legislation aimed at uncovering practices that violate false claims or fraudulent billing laws[90]. - The Medicare Part D program is undergoing significant changes, including the establishment of a Medicare Drug Price Negotiation Program starting in 2026, which could reduce profitability[97]. - The company is subject to complex and evolving domestic and international laws regarding privacy and data protection, which could result in regulatory investigations and penalties[165]. - The company may need to implement new internal controls and procedures to comply with public company requirements, diverting management's attention from other important matters[161]. - Non-compliance with evolving legal and regulatory requirements may increase operational costs and reduce net revenues[210]. - Stricter tax compliance efforts could deter merchants from using the company's platforms, negatively affecting business operations[211]. - Increased focus on consumer protection laws may expose the company to liability and reputational damage[213]. Market and Competitive Landscape - The company faces challenges in expanding international operations and may be affected by changes in global cultural, political, and financial market conditions[116]. - Increased competition in the industry could adversely affect the company's business and financial performance[120]. - The company faces intense competition from established internet companies and regional e-commerce players, which may require significant resources to remain competitive[179]. - The company is exploring new business initiatives in industries where it has limited experience, which may present significant operational and compliance challenges[178]. - The development of new technologies, such as Low Earth Orbit (LEO) satellite systems, may affect the competitiveness of the company's products in the future[180]. Human Resources and Management - The company is heavily reliant on key executives, including Charles Fernandez and David Phipps, and their departure could disrupt business operations[193][194]. - The company faces challenges in recruiting and retaining key management and technical personnel, which could negatively impact business operations[195]. - Competition for qualified personnel is intense, leading to potential increases in labor, recruiting, and training costs[199]. - The company is expanding into new business areas, making the retention of key employees critical for future success[197]. Intellectual Property and Technology - The company may not be able to effectively protect its intellectual property rights, which could adversely affect its business and financial condition[155]. - The company may encounter significant problems in protecting its intellectual property both in the United States and abroad, impacting its competitive advantage[156]. Strategic Initiatives - Future acquisitions are planned to increase scale, expand sales, and access new markets and sectors[40]. - The company plans to invest in expanding its e-commerce offerings, logistics network, and technological infrastructure, which may negatively affect margins in the short term[141]. - The company plans to expand its online marketing presence primarily via the Alibaba ecosystem, making this relationship critical for future growth[177].

COCONUT GROVE, Fla., March 13, 2025 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced that it has rescheduled the release of its financial results for the full-year ended December 31, 2024, to before market open on March 24, 2025.NextPlat's Executive Chairman and CEO, Charles M. Fernandez, Chief Financial Officer, Cecile Munnik and President and CEO of Global Operations, David Phipps, will host a conference call at 8:30 a.m. East ...

Core Viewpoint - NextPlat Corp will release its financial results for the full year ended December 31, 2024, on March 17, 2025, before market open [1] Group 1: Conference Call Details - The conference call will be hosted by NextPlat's Executive Chairman and CEO, Charles M. Fernandez, CFO Cecile Munnik, and President and CEO of Global Operations, David Phipps [2] - The call is scheduled for March 17, 2025, at 8:30 a.m. Eastern time, with a toll-free dial-in number of 1-800-836-8184 and an international dial-in number of 1-646-357-8785 [2] - Investors can submit questions for the Q&A portion of the call prior to March 13, 2025 [2] Group 2: Replay Information - The conference call will be available for live broadcast and replay at the provided link, with a replay available after 12:00 p.m. Eastern time through March 24, 2025 [3] - The toll-free replay number is 1-888-660-6345, and the international replay number is 1-646-517-4150, with a replay entry code of 70962 [3] Group 3: Company Overview - NextPlat is a global e-commerce platform focused on high-growth sectors such as technology and healthcare [4] - The company aims to assist businesses in selling goods online through acquisitions, joint ventures, and collaborations [4] - NextPlat operates an e-commerce communications division and provides pharmacy and healthcare data management services in the U.S. through its subsidiary, Progressive Care LLC [4]

Core Insights - NextPlat Corp's subsidiary, Global Telesat Communications Ltd, has secured a new satellite-based asset tracking services contract from a global humanitarian aid customer, marking the second contract awarded by this customer [1][2]. Group 1: Contract Details - The new contract involves providing Iridium Edge® Solar satellite asset trackers and recurring airtime services to monitor and track high-value assets such as vehicles, heavy machinery, and shipping containers in challenging environments [2]. - The initial contract is for one year, with an option to extend for an additional two years [2]. Group 2: Product Benefits - The Iridium Edge Solar tracker is designed for large organizations operating in diverse geographies, particularly in areas lacking reliable communication infrastructure [3]. - The product aims to reduce the risk of loss or theft of high-value assets, enhancing operational efficiency for humanitarian missions [2][3]. Group 3: Company Overview - NextPlat Corp is a global e-commerce platform focused on high-growth sectors, including technology and healthcare, and aims to assist businesses in optimizing their online sales [5]. - The company operates an e-commerce communications division that offers voice, data, tracking, and IoT products and services globally [5].