OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 For the transition period from ______________to _______________. Commission File Number 001-40447 NEXTPLAT CORP (Exact name of registrant as specified in its charter) Nevada 65-0783722 (State or other jurisdiction ...

Exhibit 99.1 NextPlat Reports Record Consolidated Q1 2024 Revenues of $17.5 Million Compared to $2.9 Million in Q1 2023 (508% Increase) as Quarterly Margins Improve to 27.5% Proposed Merger Agreement with Progressive Care Inc., Launch of its E-Commerce Development Program with Alibaba's Tmall Global and Acquisition of Outfitters Expected to Drive Continued Top-Line Growth COCONUT GROVE, FL – May 15, 2024 – NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today ...

340B Contract Service Revenue Grows 110% as New Contract Momentum Continues MIAMI, May 15, 2024 /PRNewswire/ -- Progressive Care Inc. (OTCQB: RXMD) ("Progressive Care" or the "Company"), a personalized healthcare services and technology provider, today announced financial results for its first quarter ended March 31, 2024. The Company reported record first quarter revenues of approximately $14.6 million, a 28% increase compared to revenues reported in the first quarter of 2023. The results reflect continues ...

Proposed Merger Agreement with Progressive Care Inc., Launch of its E-Commerce Development Program with Alibaba's Tmall Global and Acquisition of Outfitters Expected to Drive Continued Top-Line Growth COCONUT GROVE, Fla., May 15, 2024 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e- Commerce provider, today announced record financial results for the first fiscal quarter ended March 31, 2024 which includes the consolidation of the operations of its e-commerce bus ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 001-40447 NEXTPLAT CORP (Exact name of registrant as specified in its charter) | Nevada | 65-0783722 | | - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Nevada 65-0783722 (State or other jurisdiction of incorporation or organization) Identification No.) For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ______________to _____ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ______________to _______________. | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, par value $0.0001 | NXPL ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ______________to _______________. Commission File Number 001-40447 NEXTPLAT CORP (Exact name of registrant as specified in its charter) (I.R.S. Employer Identification No.) 3250 Mary St., Suite 410, C ...

E-commerce Strategy - NextPlat is transitioning to focus on a state-of-the-art e-commerce platform to enhance online sales capabilities for businesses, aiming to optimize their e-commerce presence and revenue [19]. - The company operates two main e-commerce websites and 25 third-party storefronts on platforms like Alibaba, Amazon, OnBuy, and Walmart, serving thousands of consumers and enterprises globally [19]. - NextPlat's e-commerce strategy includes plans to develop additional country-specific websites to target markets in South America, Asia, and Europe [32]. - The company is focused on expanding its global e-commerce storefronts to develop sales in new markets [42]. - The company plans to expand its online marketing presence primarily through the Alibaba ecosystem, which is expected to be a primary channel for revenue generation [98]. Financial Performance - For the years ended December 31, 2022, 2021, and 2020, the company incurred net losses of approximately $9.2 million, $8.1 million, and $2.8 million, respectively, with an accumulated deficit of approximately $31.1 million as of December 31, 2022 [47]. - The company has approximately $18.9 million in cash on hand as of December 31, 2022, which may not be sufficient to meet future liquidity needs [72]. - The company has indicated that it may not have sufficient cash and borrowing capacity to meet its working capital needs for the next 12 months without further financing [212]. - Economic conditions globally and specific to the business significantly impact revenue and net income, with potential adverse effects from economic slowdowns [112]. - Revenue growth is dependent on the ability to grow core businesses and newly developed initiatives, with potential challenges in inventory management and regulatory compliance [99]. Market Dependence - Amazon marketplaces accounted for approximately 54.3% and 63.6% of total sales for the years ended December 31, 2022, and 2021, respectively, indicating a significant reliance on these platforms for revenue [34]. - For the year ended December 31, 2022, approximately 54.3% of revenues were generated from sales on Amazon, highlighting the platform's significance to the company's financial performance [95]. - The company relies on a limited number of key suppliers, which poses risks of interruptions in product availability and could adversely affect revenue [67]. Supply Chain and Operational Risks - The company has experienced inventory shortages due to COVID-19 and related supply chain constraints, which have affected product delivery [46]. - Supply chain disruptions have led to significant delays and increased costs, adversely affecting the company's ability to deliver products and meet customer demand [64]. - The company acknowledges risks related to supply chain disruptions, which could lead to increased costs and lost sales, adversely affecting its financial condition [52]. - Logistics service interruptions could adversely affect the timely delivery of products, impacting the company's competitive position and financial results [121]. Digital Assets and Technology - The company is developing a next-generation platform for digital assets, NextPlat Digital, designed for Web3, which will facilitate the creation and sale of NFTs [36]. - The company is developing a next-generation platform for digital assets built for Web3, currently in the design and development phase [47]. - The company is exploring new business initiatives, including digital assets, which may require significant investments and present operational challenges [99]. - Digital assets are subject to risks of loss, theft, hacking, and fraud, with no government insurance for transactions [142]. - The uncertain legal status of NFTs may expose the company to regulatory enforcement and civil or criminal sanctions due to inadequate compliance with various state and federal laws [164]. Competition and Market Challenges - The company faces intense competition from established internet companies and new entrants, which may require significant resources to maintain market share [100]. - The company must innovate and adapt to rapidly changing technology and market demands to maintain competitiveness [105]. - Challenges in recruiting and retaining qualified personnel could hinder business growth and operational effectiveness [115][118]. - There are risks associated with acquisitions and investments, including integration challenges and potential regulatory scrutiny [107]. Regulatory and Compliance Issues - The company may incur substantial costs and operational burdens due to evolving domestic and international laws regarding privacy and data protection [92]. - The company is subject to increased compliance costs and administrative burdens due to the Sarbanes-Oxley Act and related regulations [82]. - The company anticipates that its business expansion in China will expose it to significant political, economic, and social risks [170]. - The classification of NFTs as securities is uncertain, which could lead to regulatory scrutiny and compliance challenges [159]. Corporate Governance and Shareholder Matters - As of March 30, 2023, principal stockholders, executive officers, and directors own approximately 57.7% of the company's outstanding shares [79]. - The company is authorized to issue up to 50 million shares of common stock, which may lead to dilution of existing shareholders' ownership interests [184]. - The company's common stock and warrants are thinly traded, which could negatively affect their value and liquidity [188]. - The company has never paid cash dividends and does not anticipate doing so in the foreseeable future, intending to retain future earnings for operations and capital requirements [207].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ______________to _______________. Commission File Number 001-40447 NEXTPLAT CORP (Exact name of registrant as specified in its charter) | Nevada | 65-0783722 | | --- | --- | | (State or other juri ...