NextPlat Reports $54 Million in Revenue for Full Year 2025 as Business Turnaround Initiatives Support Operational Profitability Goals in 2026
Refocusing and Cost Cutting Efforts Now Delivering Operational Improvement Including Sequential Margin Expansion and Significant Cost Reductions
HALLANDALE BEACH, Fla., March 31, 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 year ended December 31, 2025, reflecting the performance of its healthcare and e-commerce operations.
"The closing of 2025 marks the start of an exciting new period for our company as we successfully execute on our turnaround and cost-cutting plans, efforts that began to drive fundamental improvements across operational and financial metrics in the fourth quarter, putting NextPlat on a growth and profitability pathway in 2026 as outlined in our recently issued guidance press release," said David Phipps, Chief Executive Officer and President of NextPlat Corp. "Looking into the first half of 2026, supported by a strong financial foundation and investments into business development, organizational process improvements, and enhanced customer service in our healthcare operations, we are now positioned to significantly grow the business. We believe the improved performance and profitability that we forecast for 2026 will finally deliver the value proposition that we've promised our shareholders for quite some time."
Fourth Quarter and Full Year 2025 Financial Highlights
Organizational Highlights and Recent Business Developments
Full Year 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, March 31 st at 8:30 a.m. Eastern time to discuss the results for the year ended December 31, 2025, as well as other recent developments.
To access the call, please use the following information:
Date:
Tuesday, March 31, 2026
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/wbRV9ab8NLa
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/wbRV9ab8NLa and via the investor relations section of the Company's website at https://ir.nextplat.com/news-events/ir-calendar/detail/20260331-full-year-2025-results-conference-call. A replay of the conference call will be available after 12:00 p.m. Eastern time through April 7, 2026.
Toll-free replay number:
1-888-660-6345
International replay number:
1-646-517-4150
Replay entry code:
97518#
The financial information included in this press release should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2025, to be filed with the Securities and Exchange Commission today.
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 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 Glickman
MWGCO, Inc.
917-397-2272
[email protected]
NEXTPLAT CORP AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(In thousands, except per share data)
Years Ended December 31,
2025
2024
Sales of products, net
$
49,665
$
55,540
Revenues from services
4,657
10,542
Revenue, net
54,322
66,082
Cost of products
43,374
49,033
Cost of services
42
41
Cost of revenue
43,416
49,074
Gross profit
10,906
17,008
Operating expenses:
Selling, general and administrative
6,043
6,179
Salaries, wages and payroll taxes
10,707
13,303
Impairment loss
—
13,653
Professional fees
2,264
4,401
Depreciation and amortization
540
788
Intangible asset amortization
102
1,709
Loss on settlement of litigation
250
—
Total operating expenses
19,906
40,033
Loss before other (income) expense
(9,000)
(23,025)
Other (income) expense:
Loss (gain) on sale or disposal of property and equipment
213
(94)
Interest expense
64
81
Interest earned
(358)
(731)
Contingent loss on settlement of litigation
1,750
—
Asset write-off
—
111
Other income
—
(2)
Foreign currency exchange rate variance
(206)
65
Total other expense (income)
1,463
(570)
Loss before income taxes
(10,463)
(22,455)
Income taxes
—
(71)
Net loss
(10,463)
(22,526)
Deemed dividend
(1,249)
—
Net loss attributable to non-controlling interest
—
9,100
Net loss attributable to common stockholders
$
(11,712)
$
(13,426)
Comprehensive loss:
Net loss
$
(10,463)
$
(22,526)
Foreign currency loss
(52)
(3)
Comprehensive loss
$
(10,515)
$
(22,529)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS
$
(11,712)
$
(13,426)
Weighted number of common shares outstanding – basic and diluted
26,535
20,614
Basic and diluted loss per share
$
(0.44)
$
(0.65)
NEXTPLAT CORP AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
(In thousands, except sharesand par value data)
December 31,
2025
December 31,
2024
ASSETS
Current Assets
Cash
$
13,709
$
19,960
Accounts receivable, net
4,014
4,895
Receivables - other
1,930
1,331
Inventory, net
3,396
4,881
Unbilled revenue
292
237
VAT receivable
352
371
Prepaid expenses
463
404
Total Current Assets
24,156
32,079
Property and equipment, net
2,505
3,407
Goodwill
156
156
Intangible assets, net
422
524
Operating right-of-use assets, net
189
812
Finance right-of-use assets, net
—
5
Deposits
37
94
Total Other Assets
804
1,591
Total Assets
$
27,465
$
37,077
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable and accrued expenses
$
8,265
$
7,230
Contract liabilities
193
89
Notes payable
416
380
Due to related party
82
48
Operating lease liabilities
158
404
Finance lease liabilities
—
5
Income taxes payable
12
54
Total Current Liabilities
9,126
8,210
Long Term Liabilities
Notes payable, net of current portion
876
1,032
Operating lease liabilities, net of current portion
41
438
Total Liabilities
10,043
9,680
Commitments and Contingencies
—
—
Equity
Preferred stock ($0.0001 par value; 3,333,333 shares authorized; no shares issued or outstanding)
—
—
Common stock ($0.0001 par value; 50,000,000 shares authorized; 26,767,882 and 25,963,051
shares issued and outstanding as of December 31, 2025 and 2024, respectively)
3
3
Additional paid-in capital
77,586
75,697
Accumulated deficit
(60,063)
(48,351)
Accumulated other comprehensive loss
(118)
(66)
Treasury stock (at cost, 130,549 shares at December 31, 2025 and no shares at December 31,
2024, respectively)
(100)
—
Equity attributable to common stockholders
17,308
27,283
Equity attributable to noncontrolling interests
114
114
Total Equity
17,422
27,397
Total Liabilities and Equity
$
27,465
$
37,077
SOURCE NextPlat Corp.