NextPlat(NXPL) - 2025 Q3 - Quarterly Results

Financial Performance - Consolidated revenue for Q3 2025 was approximately $13.8 million, a decrease from approximately $15.4 million in Q3 2024, primarily due to a decline in Healthcare Operations revenue[6] - Gross profit margin for Q3 2025 declined to approximately 19.9% from 23.2% in the prior year, with Healthcare segment margin decreasing to 18.4% from 21.5%[6] - Operating expenses decreased to approximately $4.7 million in Q3 2025 from approximately $7.8 million in Q3 2024, excluding non-recurring expenses[6] - Net loss attributable to common shareholders decreased approximately 48% to approximately $2.2 million, or ($0.08) per diluted share, compared to a net loss of approximately $4.2 million, or ($0.22) per diluted share in Q3 2024[6] Cash and Assets - The company ended Q3 2025 with approximately $13.9 million in cash[6] - Total assets decreased from $36,478 million as of December 31, 2024, to $30,013 million as of September 30, 2025, representing a decline of approximately 17.6%[17] - Current assets decreased from $31,480 million to $26,209 million, a reduction of about 16.8%[17] - Cash reserves decreased from $19,960 million to $13,926 million, a decline of approximately 30.3%[17] - Total equity decreased from $26,798 million to $21,546 million, a decline of about 19.5%[17] Liabilities - Total liabilities decreased from $9,680 million to $8,467 million, a reduction of about 12.5%[17] - Current liabilities decreased from $8,210 million to $7,363 million, a decline of approximately 10.4%[17] Operational Improvements - The company has identified annualized overhead expense reductions exceeding $2.0 million through staff reductions and operational improvements[6] - Prescription volumes in the Healthcare segment are expected to increase sequentially starting in Q4 2025 due to improved customer engagement[6] - The company is optimizing inventory levels in its PharmcoRx pharmacies, which is expected to generate significant one-time cash savings[7] Inventory and Capital - Inventory increased from $4,881 million to $5,616 million, an increase of about 15.1%[17] - Additional paid-in capital increased slightly from $75,697 million to $75,913 million, an increase of approximately 0.3%[17] - The company reported a treasury stock of $100 million as of September 30, 2025, compared to no shares as of December 31, 2024[17] Product Development and Sales - The e-Commerce segment saw robust sales for satellite-based connectivity and IoT products, with high-margin recurring revenue at record levels[7] - NextPlat launched Florida Sunshine products in the UK and EU and is preparing an AI-driven marketing campaign for these products[7]