NXPL on Nasdaq

NextPlat Corp

American telephone communications company based in Coconut Grove. Summary from the record

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Last updated Oct 19, 2026.

Overview

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  • TickerNXPL on Nasdaq1
  • IndustryTelephone Communications (No Radiotelephone)1
  • HeadquartersHallandale Beach, Florida1
  • Incorporated inNV2
  • Business address400 Ansin Blvd, Suite A, Hallandale Beach, Fl 330092
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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NextPlat Corp (“NextPlat,” “the Company,” “we,” “our,” or “us”) is a global e-commerce and healthcare services company that operates through two reportable segments: e-Commerce Operations and Healthcare Operations. Through these segments, the Company provides satellite-enabled communication products and services, global online distribution capabilities, pharmacy services, healthcare technology solutions, and data analytics services. Our platforms serve consumers, enterprises, healthcare providers, government organizations, and other institutions across multiple geographic markets. For the year ended December 31, 2025, approximately 27% of revenue was generated by our e-Commerce segment and 73% by our healthcare segment.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.1%Gross margin4
-16.6%Operating margin4
-19.3%Net margin4
-17.8%Revenue growth, 20254
-60.5%Return on equity4
0.07×Debt to equity4
-$6.2MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Pharmacy Prescription and Other Revenue, Net of PBM Fees brought in 66% of the revenue NextPlat Corp broke down this way in fiscal 2025.

  1. Pharmacy Prescription and Other Revenue, Net of PBM Fees$35.7M466%down 15% from 2024
  2. E-Commerce Revenue$14.6M427%up 6% from 2024
  3. Pharmacy 340B Contract$4.0M47%down 61% from 2024
Products and services by year
Products and services20242025
Pharmacy Prescription and Other Revenue, Net of PBM Fees$41.9M$35.7M
E-Commerce Revenue$13.8M$14.6M
Pharmacy 340B Contract$10.4M$4.0M

Business segments

Healthcare Operations brought in 58% of the revenue NextPlat Corp broke down this way in fiscal 2025.

  1. Healthcare Operations$39.7M458%down 24% from 2024
  2. Ecommerce$14.6M421%up 6% from 2024
  3. E-Commerce Revenue$14.6M421%up 6% from 2024
Business segments by year
Business segments20242025
Healthcare Operations$52.3M$39.7M
Ecommerce$13.8M$14.6M
E-Commerce Revenue$13.8M$14.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue80¢$43.4M
  • Selling, general and admin11¢$6.0M
  • Other costs9¢$4.9M

Out of $54.3M in revenue.4 The company lost money this year.

Financial statements

Revenue56784$54.3M in 2025+825% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $5.9M$5.9M20192020: $5.7M$5.7M2020−3%2021: $7.7M$7.7M2021+36%2022: $11.7M$11.7M2022+51%2023: $37.8M$37.8M2023+222%2024: $66.1M$66.1M2024+75%2025: $54.3M$54.3M2025−18%
Gross profit567984$10.9M in 2025+791% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $1.2M$1.2M20192020: $1.2M$1.2M2020+0%2021: $1.9M$1.9M2021+52%2022: $2.5M$2.5M2022+34%2023: $11.3M$11.3M2023+354%2024: $17.0M$17.0M2024+50%2025: $10.9M$10.9M2025−36%
Operating income567984-$9.0M in 2025+710% since 2019
-$30.0M-$20.0M-$10.0M02019: -$1.1M-$1.1M20192020: -$2.0M-$2.0M2020+83%2021: -$6.6M-$6.6M2021+226%2022: -$7.2M-$7.2M2022+9%2023: -$23.2M-$23.2M2023+222%2024: -$23.0M-$23.0M2024−1%2025: -$9.0M-$9.0M2025−61%
Net income567984-$10.5M in 2025+658% since 2019
-$15.0M-$10.0M-$5.0M02019: -$1.4M-$1.4M20192020: -$2.8M-$2.8M2020+100%2021: -$8.1M-$8.1M2021+193%2022: -$9.2M-$9.2M2022+13%2023: -$3.8M-$3.8M2023−59%2024: -$14.0M-$14.0M2024+271%2025: -$10.5M-$10.5M2025−25%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$54.3M$66.1M
Cost of revenue$43.4M$49.1M
Gross profit$10.9M$17.0M
Selling, general and administrative$6.0M$6.2M
Salaries, wages and payroll taxes$10.7M$13.3M
Goodwill, Impairment Loss$0$13.7M
Professional fees$2.3M$4.4M
Depreciation and amortization$540.0K$788.0K
Intangible asset amortization$102.0K$1.7M
Loss on settlement of litigation$250.0K$0
Total operating expenses$19.9M$40.0M
Loss before other (income) expense-$9.0M-$23.0M
Loss (gain) on sale or disposal of property and equipment$213.0K-$94.0K
Interest expense$64.0K$81.0K
Interest earned-$358.0K-$731.0K
Contingent loss on settlement of litigation$1.8M$0
Asset Impairment Charges$0$111.0K
Other income$0-$2.0K
Foreign currency exchange rate variance-$206.0K$65.0K
Total other expense (income)$1.5M-$570.0K
Loss before income taxes-$10.5M-$22.5M
Income taxes$0-$71.0K
Deemed dividend-$1.2M$0
Net loss attributable to non-controlling interest$0$9.1M
Net loss attributable to common stockholders-$11.7M-$13.4M
Net loss-$10.5M-$22.5M
Foreign currency loss-$52.0K-$3.0K
Comprehensive loss-$10.5M-$22.5M
Weighted number of common shares outstanding basic and diluted (in shares)26.5M shares20.6M shares
Basic and diluted loss per share (in dollars per share)-$0.44-$0.65

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Leadership

Who has led NextPlat Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Benjamin C. Croxton2007–2009
  2. Gregory D. Cohen2010
  3. Eric L. Simon2010
  4. Glenn Kesner2011
  5. Daniel Bleak2011–2012
  6. Patrick L. Avery2014
  7. Andrew Uribe2014
  8. David Phipps2015–2021
  9. Charles M. Fernandez2021–2024

Chair

  1. Mike Prentice2007–2008
  2. David Phipps2019
  3. Charles M. Fernandez2021–2024

President

  1. David Phipps2019–2022

Chief financial officer

  1. Patrick L. Avery2014
  2. Andrew Uribe2014
  3. Theresa Carlise2015–2020
  4. Thomas G. Seifert2021
  5. Sarwar Uddin2021
  6. Cecile Munnik2022–2024
  7. Amanda Ferrio2025–now
2010201520202025
Board members and other officers (26)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Senior Vice President of Mergers, Acquisitions and Special ProjectsPaul R. Thomson named Jan 12, 2022 to Apr 19, 202348
  • SENIOR VICE PRESIDENT OF OPERATIONSANDREW COHEN named Jan 12, 202249
  • DirectorJohn R. Miller named Jan 12, 2022 to Apr 19, 202348

Former names

  • ORBSAT CORPAug 19, 2019 to Jan 20, 20222
  • Orbital Tracking Corp.Jan 9, 2015 to Aug 14, 20192
  • Great West Resources, Inc.May 14, 2014 to Jan 21, 20152
  • SILVER HORN MINING LTD.May 3, 2011 to Mar 31, 20142
  • ECLIPS MEDIA TECHNOLOGIES, INC.May 17, 2010 to Apr 29, 20112
  • ECLIPS ENERGY TECHNOLOGIES, INC.Mar 25, 2009 to Apr 30, 20102
  • WORLD ENERGY SOLUTIONS, INC.Nov 15, 2005 to Mar 4, 20092
  • ADVANCED 3-D ULTRASOUND SERVICES INCAug 19, 2005 to Nov 14, 20052
  • YSEEK INCApr 13, 2001 to Aug 9, 20052
  • SWIFTY CARWASH & QUIK LUBE INCNov 23, 1998 to Mar 29, 20012

Timeline

  1. Jun 21, 2021New chief executive Charles M. Fernandez becomes CEO12
  2. Feb 27, 2015New chief executive David Phipps becomes CEO13
  3. Jan 23, 2014New chief executive Andrew Uribe becomes CEO15
  4. Jan 22, 2014New chief executive Patrick L. Avery becomes CEO14
  5. May 13, 2011New chief executive Daniel Bleak becomes CEO17
  6. Jan 12, 2011New chief executive Glenn Kesner becomes CEO16
  7. Jul 1, 2010New chief executive Eric L. Simon becomes CEO19
  8. Feb 12, 2010New chief executive Gregory D. Cohen becomes CEO18
  9. Sep 6, 2007New chief executive Benjamin C. Croxton becomes CEO20

Filings

243 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 71 major events, 70 insider forms, 11 large holders, 3 private raises, 67 other. The latest 20:

  1. Oct 15, 20264 RB FORM 4 - 9.30.2026 EDGAR
  2. Oct 15, 20264 ELLENOFF FORM 4 9.30.2026 EDGAR
  3. Oct 6, 20268-K EDGAR
  4. Aug 14, 202610-Q EDGAR
  5. Aug 13, 20268-K EDGAR
  6. Jul 16, 20268-K EDGAR
  7. Jul 2, 20264 EDGAR
  8. Jul 2, 20264 EDGAR
  9. Jul 2, 20264 EDGAR
  10. Jun 24, 20268-K EDGAR
  11. Jun 8, 2026424B3 EDGAR
  12. Jun 4, 2026EFFECT EDGAR
  13. Jun 3, 2026S-3/A EDGAR
  14. Jun 2, 2026CORRESP EDGAR
  15. Jun 2, 202625-NSE EDGAR
  16. May 15, 202610-Q EDGAR
  17. May 14, 20268-K EDGAR
  18. May 13, 2026424B5 EDGAR
  19. May 13, 2026UPLOAD EDGAR
  20. May 6, 2026S-3 EDGAR

The 243 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

10 open-market trades by officers, directors and large owners since October 2021: 10 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 16, 2024Miller John EdwardDirectorBuy5,000$7,150.00$35.8MForm 4
Dec 14, 2022Phipps DavidChief Executive OfficerBuy28,500$49,875.00$1.4BForm 4
Dec 14, 2022Fernandez Charles M.Chairman & CEOBuy1,085,714$1,899,999.50$2.1TForm 4
Dec 14, 2022Barreto RodneyDirectorBuy1,085,714$1,899,999.50$2.1TForm 4
Jan 28, 2022Miller John EdwardDirectorBuy3,000$9,775.20$29.3MForm 4
Jan 5, 2022ELLENOFF DOUGLASDirectorBuy46,297$3.24$150.0KForm 4
Jan 5, 2022Cusimano LouisDirectorBuy15,433$3.24$50.0KForm 4
Jan 5, 2022THOMSON PAUL RExec VP and CFOBuy15,433$3.24$50.0KForm 4
Jan 5, 2022Phipps DavidChief Executive OfficerBuy46,297$3.24$150.0KForm 4
Jan 5, 2022Fernandez Charles M.Chairman & CEOBuy679,013$3.24$2.2MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 11, 2023Raised $6 million in a private offering of equity Form D: 1 investor so far Form D
  2. Dec 14, 2022Raised $8 million in a private offering of equity Form D: 48 investors so far Form D
  3. Jan 2, 2022Raised $7.2 million in a private offering of equity Form D: $9 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
EverSource Wealth Advisors, LLC58,067$392.0K0.0%New
Geode Capital Management, LLC21,992$148.5K0.0%New
Vanguard Capital Management LLC21,422$144.6K0.0%New
Citadel Advisors LLC18,582$125.4K0.0%New
Vanguard Fiduciary Trust Co9,056$61.1K0.0%New
Tower Research Capital LLC (TRC)642$4.3K0.0%New
Vanguard Global Advisers, LLC264$1.8K0.0%New
SBI Securities Co., Ltd.5$340.0%−45
UBS Group AG1$70.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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