Growth Momentum Continues Across the Business, Highlighted by Increased Higher-Margin 340B Healthcare Prescription Volumes and Over 27% Sequential Growth in E-Commerce Revenue
HALLANDALE BEACH, Fla., Aug. 13, 2026 /PRNewswire/ -- NextPlat Corp $(NXPL)$ ("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 significantly improved operating results for the second quarter ended June 30, 2026.
"The second quarter of 2026 marked a clear financial inflection point in NextPlat's turnaround as we generated strong sequential revenue growth, expanded consolidated gross margin to a record 40%, and reduced our net loss to $144,000," said David Phipps, Chief Executive Officer and President of NextPlat Corp. "NextPlat's significantly improved financial results reflect a more efficient operating structure and a deliberate shift toward higher-margin 340B contracted pharmacy services. Supported by 11 new contracted entities signed during the first half of 2026 and customer onboarding underway, our focus is now on converting this pipeline into revenue, maintaining margin discipline, and achieving sustainable profitability including selective, strategically aligned acquisitions that can add scale and diversification."
Second Quarter 2026 Financial Highlights:
-- Consolidated revenue for the quarter ended June 30, 2026, was
approximately $11.9 million, a sequential increase of approximately 21%
over first quarter 2026 revenue of $9.9 million reflecting the Company's
continued focus on expanding its contracted healthcare business
-- Second quarter 2026 results reflected continued progress in the
Company's Healthcare operations strategy to expand its
higher-value contracted pharmacy services focused on supporting
the needs of 340B, long-term care, government and other healthcare
providers. Contracted pharmacy revenue increased 136% to
approximately $2.2 million, compared with approximately $0.9
million in the prior-year period. The increase was attributable to
growth in 340B contract revenue of approximately $0.7 million and
the increase in medication fulfillment contract services secured
late in 2025, of approximately $0.6 million. The increase in 340B
contract revenue was driven by growth in our existing 340B
contracts of approximately $0.6 million and an increase in new
340B contract revenue of approximately $0.1 million. On a
sequential basis, contracted pharmacy revenue increased
approximately 20% from the first quarter of 2026, supported by
ongoing business development activity and the addition of multiple
new contracted clients. Total pharmacy prescription revenue was
approximately $5.6 million, compared with approximately $8.2
million in the prior-year period. As anticipated, the
year-over-year change primarily reflected lower payer
reimbursement rates and payer mix. The strong growth in contracted
pharmacy revenue substantially offset these expected headwinds and
demonstrates the increasing contribution from the Company's
expanding contracted services business.
-- Second quarter 2026 e-Commerce revenue increased approximately 27%
sequentially to approximately $4.1 million, compared with
approximately $3.2 million in the first quarter of 2026,
accompanied by improved gross margin performance. Growth was
supported by continued strong global demand for satellite-based
connectivity and Internet of Things (IoT) products including new
and expanded orders for Iridium and Globalstar devices serving
international government and military customers.
-- Overall gross margin for the second quarter ended June 30, 2026, reached
a record level of approximately 40%, surpassing the previous record of
35% set in the first quarter ended March 31, 2026, and up approximately
18 percentage points from 22% in the prior-year second quarter.
-- Gross margin in the Company's Healthcare Operations segment
continued to improve significantly, increasing to approximately
46% in the second quarter of 2026, compared with approximately 39%
in the first quarter of 2026 and approximately 20% in the second
quarter of 2025. This represents an improvement of nearly seven
percentage points sequentially and more than double the gross
margin reported in the prior-year period. The increase was
primarily attributable to the addition of new contracted
medication fulfillment services and lower drug acquisition costs
resulting from the Medicare Drug Price Negotiation Program, which
commenced in January 2026. With higher-margin 340B contracted
services revenue expected to increase, the Company believes the
segment's gross margin will remain well above prior-year levels.
-- Gross margin for e-Commerce Operations continued to increase
sequentially during the second quarter of 2026 to approximately
27% from 25% when compared to the first quarter of 2026 and up
from 26% recorded in the second quarter of 2025.
-- Total operating expenses for the quarter ended June 30, 2026 slightly
increased to approximately $4.8 million from approximately $4.7 million
in the prior year quarter primarily reflecting a $0.5 million increase in
professional fees. Excluding a one-time increase in professional fees,
overall operating expenses declined approximately 8% due to the Company's
ongoing refocusing and streamlining efforts. Management continues to
expect that the addition of higher-margin contracted healthcare services
revenue supported by the Company's more efficient expense structure will
contribute to sustainable positive operating income for the remainder of
2026.
-- Net loss attributable to common stockholders for the quarter ended June
30, 2026 decreased approximately 92% to approximately $0.1 million or
($0.05) per diluted share, compared to a net loss attributable to common
stockholders of approximately $1.8 million, or ($0.69) per diluted share
for the three months ended June 30, 2025. Excluding the one-time impact
of approximately $0.5 million in professional fees, the Company achieved
profitability during the second quarter and anticipates generating
positive earnings moving forward.
-- The Company ended the quarter with approximately $11.9 million in cash,
working capital of approximately $14.2 million, and no material unsecured
debt as of June 30, 2026.
Organizational Highlights and Recent Business Developments:
-- During the quarter, momentum in the Company's Healthcare Operations
segment continued to build as higher-margin 340B contracted pharmacy
services prescription volumes grew over 33% year-over-year, driven
primarily by enhanced customer service and support. Successful new 340B
business development efforts continued to result in the signing of new
services contracts, securing five new entities in the first quarter and
six in the second quarter, each representing sequential records.
Onboarding of these new customers is currently underway. These additions
are expected to contribute to increased revenue throughout the third
quarter with a more significant contribution expected early in the fourth
quarter.
-- After the close of the second quarter, the Company announced the intended
acquisition of a profitable pharmacy operation in the Pensacola area of
Northwest Florida. Once completed, this strategic acquisition can enhance
the Company's PharmcoRx pharmacy operation, diversifying and expanding
its reach into an underserved market as a platform supporting the launch
of new high-value healthcare services for regional providers and
patients. The Company is currently exploring additional selective
acquisitions that could significantly increase the scale of its
brick-and-mortar business in Florida.
-- E-commerce sales during the second quarter continued to produce strong
sequential growth including improved margins, driven largely by increased
sales of satellite-based IoT and Push-to-Talk (PTT) hardware and
higher-margin airtime services in international markets supporting
government and military sector customers. Through the end of the second
quarter, government and military sector sales surpassed $1.75 million.
-- During the third quarter of 2026, the Company expects to launch its new
nationwide medication fulfillment website, providing consumers across all
50 U.S. states with convenient online access to prescription and
over-the-counter healthcare products. The new platform is expected to
significantly expand PharmcoRx's reach beyond Florida, establish a
scalable national e-commerce sales channel and support future healthcare
revenue growth through broader consumer access and new partnership
opportunities.
Second Quarter 2026 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, August 13(th) at 8:30 a.m. Eastern time to discuss the results for the quarter ended June 30, 2026, as well as other recent developments.
To access the call, please use the following information:
Date: Thursday, August 13, 2026
Time: 8:30 a.m. Eastern time
Toll-free dial-in number: 1-877-407-9716
International dial-in number: 1-201-493-6779
Conference webcast link: https://viavid.webcasts.com/starthere.jsp?ei=1
770457&tp_key=6a139162d1
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://viavid.webcasts.com/starthere.jsp?ei=1770457&tp_key=6a139162d1 and via the investor relations section of the Company's website at https://ir.nextplat.com/news-events/ir-calendar/detail/20260813-q2-2026-results-conference-call. A replay of the conference call will be available after 12:00 p.m. Eastern time through August 27, 2026.
Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay entry code: 13761874
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 June 30, 2026, to be 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 Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
NEXTPLAT CORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands, except per share data)
(Unaudited)
Three Months Six Months Ended June
Ended June 30, 30,
----------------- ---------------------
2026 2025 2026 2025
------- -------- -------- -----------
Revenues, net $11,881 $ 13,240 $ 21,736 $ 27,166
Cost of revenue 7,187 10,357 13,630 21,419
Gross profit 4,694 2,883 8,106 5,747
------ ------- ------- ----------
Operating
expenses:
Selling, general
and
administrative 2,445 1,976 4,421 4,001
Salaries, wages
and payroll
taxes 2,296 2,561 4,745 5,288
Depreciation and
amortization 54 150 119 320
Intangible asset
amortization 26 25 51 51
------ ------- ------- ----------
Total operating
expenses 4,821 4,712 9,336 9,660
------ ------- ------- ----------
Operating loss (127) (1,829) (1,230) (3,913)
Non-operating
income (31) (71) (2) (222)
Loss before
income taxes (96) (1,758) (1,228) (3,691)
Income taxes (48) (31) (48) (40)
------ ------- ------- ----------
Net loss (144) (1,789) (1,276) (3,731)
Net loss
attributable to
non-controlling
interest -- -- 14 --
Net loss
attributable to
common
stockholders $ (144) $(1,789) $(1,262) $ (3,731)
====== ======= ======= ==========
Comprehensive
loss:
Net loss $ (144) $(1,789) $(1,276) $ (3,731)
Foreign currency
(loss) gain (6) (58) 17 (69)
------ ------- ------- ----------
Comprehensive
loss $ (150) $(1,847) $(1,259) $ (3,800)
====== ======= ======= ==========
NET LOSS
ATTRIBUTABLE TO
COMMON
STOCKHOLDERS $ (144) $(1,789) $(1,262) $ (3,731)
------ ------- ------- ----------
Weighted number
of common shares
outstanding --
basic and
diluted 2,708 2,596 2,701 2,596
====== ======= ======= ==========
Basic and diluted
loss per share $(0.05) $ (0.69) $ (0.47) $ (1.44)
====== ======= ======= ==========
NEXTPLAT CORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except shares and par value data)
June 30, 2026 December 31, 2025
(Unaudited) (Audited)
--------------- -------------------
ASSETS
Current Assets
Cash $ 11,940 $ 13,709
Receivables, net of allowances of
$62 and $40 as of June 30, 2026
and December 31, 2025,
respectively 8,249 5,944
Inventory, net of inventory
reserves of $421 and $418 as of
June 30, 2026 and December 31,
2025, respectively 4,058 3,396
Other current assets 899 1,107
Total Current Assets 25,146 24,156
Property and equipment, net of
accumulated depreciation of
$1,483 and $3,527 as of June 30,
2026 and December 31, 2025,
respectively 2,390 2,505
Operating right-of-use assets, net 572 189
Goodwill 156 156
Intangible assets, net 371 422
Other noncurrent assets 37 37
----------- ---------------
Total Assets $ 28,672 $ 27,465
=========== ===============
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable and accrued
expenses $ 10,252 $ 8,265
Notes payable 189 416
Operating lease liabilities 186 158
Other current liabilities 355 287
Total Current Liabilities 10,982 9,126
----------- ---------------
Long Term Liabilities:
Notes payable, net of current
portion 815 876
Operating lease liabilities, net
of current portion 390 41
Total Liabilities 12,187 10,043
----------- ---------------
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,
2,713,222 and 2,676,788 shares
issued and outstanding as of June
30, 2026 and December 31, 2025,
respectively) -- 3
Additional paid-in capital 77,911 77,586
Accumulated deficit (61,325) (60,063)
Accumulated other comprehensive
loss (101) (118)
Treasury stock (at cost; 13,054
shares as of June 30, 2026 and
December 31, 2025) (100) (100)
----------- ---------------
Equity attributable to common
stockholders 16,385 17,308
Equity attributable to
non-controlling interests 100 114
----------- ---------------
Total Equity 16,485 17,422
----------- ---------------
Total Liabilities and Equity $ 28,672 $ 27,465
=========== ===============
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SOURCE NextPlat Corp.