Private company

Progressive Care Inc.

American Retail-Drug Stores and Proprietary Stores company. Summary from the record

Last updated Oct 19, 2026.

Overview

IndustryRetail-Drug Stores and Proprietary Stores¹
HeadquartersMiami Gardens, Florida¹
Incorporated inDE²
Business address1111 Park Center Blvd., Suite 202, Miami Gardens, Fl 33169²
Filer category, Emerging growth company²

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Progressive Care Inc. (“Progressive”) was incorporated under the laws of the state of Delaware on October 31, 2006 under the name Progressive Training, Inc. We changed our name to Progressive Care Inc. in connection with a merger with Progressive Care Inc. on November 23, 2010. Progressive, through its wholly-owned subsidiaries, Pharmco, LLC doing business as Pharmcorx (“Pharmco 901”) and Pharmcorx LTC, Touchpoint RX, LLC doing business as PharmcoRx 1002, LLC (“Pharmco 1002”), Family Physicians RX, Inc. doing business as PharmcoRx 1103 and PharmcoRx 1204 (“FPRX” historically or “Pharmco 1103” and “Pharmco 1204”) (pharmacy subsidiaries collectively referred to as “Pharmco”), and ClearMetrX Inc (“ClearMetrX”) is a personalized healthcare services and technology company that provides prescription pharmaceuticals and risk and data management services to healthcare organizations and providers…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 2022

23.9%Gross margin⁴

-6.4%Operating margin⁴

-14.5%Net margin⁴

4.5%Revenue growth, 2022⁴

-77.5%Return on equity⁴

0.56×Debt to equity⁵

$483.0KFree cash flow⁴

Where the money goes

Where each dollar of revenue went, fiscal 2022

Cost of revenueSelling, general and admin

Cost of revenue76¢$30.9M
Selling, general and admin12¢$5.0M
Other costs10¢$3.9M
Interest2¢$798.0K
Income tax0¢$1.0K

Out of $40.6M in revenue.⁴ The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

Capital spendingKept or used elsewhere

Capital spending28¢$186.0K
Kept or used elsewhere72¢$483.0K

Out of $669.0K of cash from operations.⁴

Financial statements

Revenue⁵⁴$40.6M in 2022+5% since 2021

Gross profit⁵⁴$9.7M in 2022−5% since 2021

Operating income⁵⁴-$2.6M in 2022+107% since 2021

Net income⁵⁴-$5.9M in 2022

Fiscal year	2021	2022
Revenue	$38.9M⁵	$40.6M⁴
Cost of revenue	$28.7M⁵	$30.9M⁴
Gross profit	$10.2M⁵	$9.7M⁴
Selling, general and admin	$11.2M⁵	$5.0M⁴
Operating expenses	$11.4M⁵	$12.3M⁴
Operating income	-$1.2M⁵	-$2.6M⁴
Interest	$1.4M⁵	$798.0K⁴
Income before tax	$218.0K⁵	-$5.9M⁴
Income tax		$1.0K⁴
Net income	$218.0K⁵	-$5.9M⁴
Earnings per share	$0.08⁵	-$2.21⁴
Earnings per share (diluted)	$0.07⁵	-$2.21⁴
Shares (weighted, basic)	2.6M shares⁵	2.9M shares⁴
Shares (weighted, diluted)	3.1M shares⁵	2.9M shares⁴

Total assets⁵⁴$18.0M in 2022+69% since 2021

Total liabilities⁵⁴$10.4M in 2022+1% since 2021

Shareholders’ equity⁵⁴$7.6M in 2022

Cash⁵⁴$6.7M in 2022+378% since 2021

Fiscal year	2020	2021	2022
Cash		$1.4M⁵	$6.7M⁴
Receivables		$2.2M⁵	$3.7M⁴
Inventory		$1.2M⁵	$688.0K⁴
Current assets		$5.9M⁵	$13.4M⁴
Property, plant and equipment		$2.4M⁵	$2.6M⁴
Goodwill		$1.4M⁴	$1.4M⁴
Intangible assets		$152.8K⁵	$127.0K⁴
Total assets		$10.6M⁵	$18.0M⁴
Current liabilities		$6.4M⁵	$7.8M⁴
Long-term debt			$4.3M⁵
Total liabilities		$10.2M⁵	$10.4M⁴
Retained earnings		-$8.5M⁵	-$15.0M⁴
Shareholders’ equity	-$1.7M⁵	$388.0K⁴	$7.6M⁴
Shares outstanding		2.7M shares⁵	3.3M shares⁴

Cash from operations⁵⁴$669.0K in 2022

Capital spending⁵⁴$186.0K in 2022+51% since 2021

Free cash flow⁵⁴$483.0K in 2022

Fiscal year	2021	2022
Cash from operations	-$757.9K⁵	$669.0K⁴
Depreciation and amortization	$165.3K⁵	$209.0K⁴
Stock-based compensation	$247.7K⁵	$1.9M⁴
Capital spending	$123.3K⁵	$186.0K⁴
Free cash flow	-$881.2K	$483.0K
Cash from investing	-$123.3K⁵	-$184.0K⁴
Cash from financing	$192.7K⁵	$4.8M⁴

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Leadership

Who has led Progressive Care Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

President

Buddy Young2010

Chief financial officer

Chief operating officer

201520202025

Chief executive officerCharles M. Fernandez Jun 30, 2023 to Oct 20, 2023⁸
Chief executive officerAlan Jay Weisberg Mar 7, 2013 to Nov 4, 2022⁹
Chief executive officerVernon Watson Aug 28, 2012 to Aug 28, 2012¹⁰
Chief executive officerAvraham A. Friedman Jan 14, 2011 to Apr 16, 2012¹¹
Chief executive officerBuddy Young Oct 19, 2010 to Oct 22, 2010¹²
ChairCharles M. Fernandez Jun 30, 2023 to Oct 20, 2023⁸
ChairBuddy Young Oct 19, 2010 to Oct 22, 2010¹²
PresidentBuddy Young Oct 19, 2010 to Oct 22, 2010¹²
Chief financial officerCecile Munnik Dec 23, 2021 to Nov 16, 2022¹³
Chief financial officerAlan Jay Weisberg Apr 23, 2012 to Mar 7, 2013¹⁴
Chief financial officerBuddy Young Oct 19, 2010 to Oct 22, 2010¹²
Chief operating officerPamela M. Roberts May 25, 2023 to May 25, 2023¹⁵
Chief operating officerBirute Norkute Nov 2, 2022 to Nov 7, 2022¹⁶
Chief operating officerShital P. Parikh Aug 28, 2012 to Aug 28, 2012¹⁷
Chief operating officerAndy Subachan Jan 14, 2011 to Apr 16, 2012¹⁸

Board members and other officers (12)

Board memberJervis Hough Aug 10, 2023 to Aug 11, 2023¹⁹
Board memberJoseph Ziegler Aug 15, 2023 to Aug 15, 2023²⁰
Board memberPedro Rodriguez Oct 23, 2023 to Oct 23, 2023²¹
Board memberCharles M. Fernandez Sep 19, 2022 to Oct 18, 2022²²
Board memberRodney Barreto Sep 19, 2022 to Oct 20, 2023²³
Board memberAlan Jay Weisberg Mar 7, 2013 to Nov 4, 2022⁹
Board memberShital P. Parikh Aug 28, 2012 to Aug 28, 2012¹⁷
Board memberAndy Subachan Jan 14, 2011 to Jan 14, 2011¹⁸
Board memberAvraham A. Friedman Jan 14, 2011 to Jan 14, 2011¹¹
Board memberDavid Leedy Oct 19, 2010 to Oct 19, 2010²⁴
Board memberDennis Warren Spiegelman Oct 19, 2010 to Oct 19, 2010²⁵
Board memberMel Ira Burman Powell Oct 19, 2010 to Oct 19, 2010²⁶

Former names

PROGRESSIVE TRAINING, INC.Jun 13, 2007 to Nov 17, 2010²

Timeline

Jun 30, 2023New chief executive Charles M. Fernandez becomes CEO⁸
Mar 7, 2013New chief executive Alan Jay Weisberg becomes CEO⁹
Aug 28, 2012New chief executive Vernon Watson becomes CEO¹⁰
Jan 14, 2011New chief executive Avraham A. Friedman becomes CEO¹¹
Oct 19, 2010New chief executive Buddy Young becomes CEO¹²

Filings

76 filings to the SEC since October 2021: 2 annual reports, 8 quarterly reports, 26 major events, 27 insider forms, 13 other. The latest 20:

Oct 2, 202415-15D EDGAR
Sep 17, 20248-K EDGAR
Aug 14, 20248-K EDGAR
Aug 14, 202410-Q EDGAR
Aug 6, 2024DEF 14A EDGAR
May 15, 202410-Q EDGAR
May 15, 20248-K EDGAR
Apr 22, 20248-K EDGAR
Apr 17, 2024425 EDGAR
Apr 17, 20248-K EDGAR
Apr 11, 20248-K EDGAR
Apr 11, 202410-K EDGAR
Apr 2, 2024NT 10-K EDGAR
Nov 14, 20238-K EDGAR
Nov 14, 202310-Q EDGAR
Oct 23, 20234 EDGAR
Oct 23, 20234 EDGAR
Oct 23, 20233 EDGAR
Oct 20, 20234 EDGAR
Oct 20, 20234 EDGAR

The 76 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

12 open-market trades by officers, directors and large owners since October 2021: 10 buys and 2 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Jul 1, 2023	Barreto RodneyDirector	Sale	520,999	$4.39	$2.3M	Form 4
Jul 1, 2023	Fernandez Charles M.Chairman & CEO	Sale	600,100	$4.45	$2.7M	Form 4
May 9, 2023	Fernandez Charles M.Chairman & CEO	Buy	455,000	$2.20	$1.0M	Form 4
May 9, 2023	Barreto RodneyDirector	Buy	455,000	$2.20	$1.0M	Form 4
Dec 14, 2021	Weisberg Alan JayChief Executive Officer	Buy	277,528	$0.03	$8.3K	Form 4
Dec 13, 2021	Weisberg Alan JayChief Executive Officer	Buy	437,451	$0.03	$13.1K	Form 4
Dec 13, 2021	Munnik CecileChief Financial Officer	Buy	532,000	$0.03	$16.0K	Form 4
Dec 13, 2021	Munnik CecileChief Financial Officer	Buy	17,024	$0.03	$511	Form 4
Dec 10, 2021	Weisberg Alan JayChief Executive Officer	Buy	92,559	$0.03	$2.8K	Form 4
Dec 10, 2021	Munnik CecileChief Financial Officer	Buy	468,000	$0.03	$14.0K	Form 4
Dec 10, 2021	Munnik CecileChief Financial Officer	Buy	14,946	$0.03	$448	Form 4
Dec 9, 2021	Weisberg Alan JayChief Executive Officer	Buy	692,462	$0.03	$20.8K	Form 4

From Forms 4 filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARProgressive Care Inc. filings on SEC EDGAR
2
SEC EDGARProgressive Care Inc. filings on SEC EDGAR
3
SEC EDGARProgressive Care Inc. annual report, Item 1 (Business)
4
SEC EDGARProgressive Care Inc. 10-K for fiscal 2022
5
SEC EDGARProgressive Care Inc. 10-K for fiscal 2022
6
SEC EDGARProgressive Care Inc. 10-Q for fiscal 2024
7
SEC EDGARProgressive Care Inc. 10-Q for fiscal 2024
8
SEC EDGARCharles M. Fernandez, Chief executive officer
9
SEC EDGARAlan Jay Weisberg, Chief executive officer
10
SEC EDGARVernon Watson, Chief executive officer
11
SEC EDGARAvraham A. Friedman, Chief executive officer
12
SEC EDGARBuddy Young, Chief executive officer
13
SEC EDGARCecile Munnik, Chief financial officer
14
SEC EDGARAlan Jay Weisberg, Chief financial officer
15
SEC EDGARPamela M. Roberts, Chief operating officer
16
SEC EDGARBirute Norkute, Chief operating officer
17
SEC EDGARShital P. Parikh, Chief operating officer
18
SEC EDGARAndy Subachan, Chief operating officer
19
SEC EDGARJervis Hough, Board member
20
SEC EDGARJoseph Ziegler, Board member
21
SEC EDGARPedro Rodriguez, Board member
22
SEC EDGARCharles M. Fernandez, Board member
23
SEC EDGARRodney Barreto, Board member
24
SEC EDGARDavid Leedy, Board member
25
SEC EDGARDennis Warren Spiegelman, Board member
26
SEC EDGARMel Ira Burman Powell, Board member