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NextPlat Reports Third Quarter 2025 Results

1. NXPL reports $13.8M Q3 revenue, down from $15.4M in 2024. 2. Cost-cutting efforts are yielding positive results in Q4 and 2026. 3. 340B prescription volumes are expected to rise in early Q4 2025. 4. Net loss reduced by 48% to $2.2 million per diluted share. 5. Share repurchase program initiated, enhancing shareholder value.

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FAQ

Why Bullish?

The positive trajectory in operational improvements and decreasing net losses can encourage investor confidence. Historical patterns show that cost-cutting measures leading to profitability, like those from earlier years in similar firms, typically drive stock recoveries.

How important is it?

The article highlights key financial metrics and operational strategies that directly affect NXPL's valuation. Given the anticipated increases in revenue and operational efficiency, the importance to stock price movement is significant.

Why Short Term?

Immediate operational efficiencies are driving Q4 performance, suggesting short-term price movements. Past examples indicate that rapid recovery in financials can boost stock prices quickly.

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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  , /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: Consolidated revenue for the quarter ended September 30, 2025, was approximately $13.8 million compared to approximately $15.4 million for the quarter ended September 30, 2024. The decrease in consolidated revenue was primarily driven by a decline in Healthcare Operations due to the decrease in pharmacy 340B contract revenue. As a result of direct engagement with select 340B customers late in the quarter, the Company has seen improved prescription volume within this segment which it believes will contribute to sequential increases in 340B prescription volumes starting in the fourth quarter of 2025. Overall gross profit margin for the quarter ended September 30, 2025, declined to approximately 19.9% from 23.2% when compared to the prior year quarter. Gross profit margin from our Healthcare segment decreased to approximately 18.4% in the third quarter of 2025 from 21.5% in the third quarter of 2024 and was primarily attributable to the decrease in 340B revenue. Gross profit margin for our e-Commerce Operations decreased to approximately 23.7% from 28.1% when compared to the prior year quarter primarily due to a service provider airtime contract that expired on December 31, 2024, which introduced new airtime costs beginning January 1, 2025, and temporary rate reductions for some customers continuing to be affected by ongoing network provider service interruptions. Operating expenses for the quarter ended September 30, 2025, decreased to approximately $4.7 million compared to approximately $7.8 million in the prior year quarter, excluding approximately $3.7 million in non-recurring expenses such as an impairment loss from the write-down of certain long-lived assets. As expected, overall operational costs declined due to a decrease in stock-based compensation for grants fully vested, a reduction in executive compensation, and ongoing headcount reductions implemented as part of the Company's proactive steps designed to improve its expense structure. As a result of ongoing operational process efficiency improvements, staff adjustments, and other cost saving efforts, the Company anticipates further reductions in operating expenses which are expected to contribute to continued improvement going forward. Net loss attributable to NextPlat Corp common shareholders for the quarter ended September 30, 2025, 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 reported for the quarter ending September 30, 2024. The Company ended the quarter with approximately $13.9 million in cash. During the third quarter of 2025, the Company began repurchasing its common shares under the authorized share repurchase program. A total of 130,549 shares were repurchased and are being held as treasury stock. Organizational Highlights and Recent Business Developments: As communicated in the recent CEO Shareholder Update Letter, the Company continues to execute its plan to refocus and streamline its operations to improve efficiencies and reduce costs while supporting future growth. NextPlat has identified and taken steps to reduce annualized overhead expenses by more than $2.0 million through actions including reduction in staff, operational and logistical improvements, and the elimination of underutilized office space. Although some of these initial cost reductions are included in the financial results for the quarter ended September 30, 2025, the identified savings are expected to increasingly contribute to sequentially improved operating metrics starting in the fourth quarter. At the same time, the Company is allocating a portion of these annual savings to invest into supporting the growth of the business including improved customer service and the recruitment of additional personnel and resources in sales and marketing with an emphasis on securing new 340B and long-term care facility service contracts. Under the leadership of its newly expanded Healthcare team, the Company has been implementing operational improvements focused on efficiency, enhanced customer service, and business development. These efforts are highlighted by the addition of new customers during the quarter as well as a recently expanded medication fulfillment services subcontract on behalf of a government contractor previously awarded to the Company. This subcontract and renewed activity by new and existing 340B customers are contributing to a significant increase in additional high margin prescription volumes, currently exceeding 3,000+ per month. This increased activity and momentum continued through October and into early November and is currently anticipated to drive a significant sequential prescription volume increase in the fourth quarter vs. the third quarter of 2025 and into 2026. The Company is also currently working to optimize inventory levels in its PharmcoRx pharmacies, which are expected to generate a significant one-time cash savings through the return of excess inventory to the supplier. In the e-Commerce segment, during the quarter, the Company continued to see robust sales for satellite-based connectivity and IoT (Internet of Things) products with strength on the Amazon platform and in high-margin recurring revenue which continues to run at record levels. Through its Global Telesat Communications Ltd (GTC) and U.S.-based Orbital Satcom and Outfitter Satellite units, the Company continues to expand its portfolio of cutting-edge connectivity products and growing its consumer and enterprise customer base with new and existing relationships, highlighted by the selection of GTC as the exclusive distributor for personal messaging and tracking products by a leading global satellite network operator for countries in the Nordic region. In its e-Commerce development program for the sale of OPKO Healthcare (NASDAQ: OPK) ("OPKO")-branded human health and wellness products in China, despite continued challenges of limited inventory levels, sales activity and sell-through remains high. In September, NextPlat also launched its Florida Sunshine products in the UK and EU and began processing orders via its Amazon and Shopify e-commerce storefronts. The Company is also preparing the launch of an Artificial Intelligence (AI)-driven marketing campaign for Florida Sunshine in partnership with an experienced healthcare brand marketing firm and its storefront on Alibaba Group Holding Limited's (NYSE: BABA) Tmall store in China has been approved to sell its products with shipping expected to begin in the first quarter of 2026. 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: https://app.webinar.net/EYVam5wPR3y 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 GlickmanMWGCO, 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 30, Nine Months Ended September 30, 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 and outstanding as of September 30, 2025 and December 31, 2024, respectively) 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, respectively) (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.

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