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NXPL on Nasdaq

NextPlat Corp

American telephone communications company based in Coconut Grove1

In its 2026 annual report the company says: “NextPlat Corp 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.”4 Its shares trade on Nasdaq under the symbol NXPL.1

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Last updated Oct 21, 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.4 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 margin5
-16.6%Operating margin5
-19.3%Net margin5
-17.8%Revenue growth, 20255
-60.5%Return on equity5
0.07×Debt to equity5
-$6.2MFree cash flow5

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$35.7M566%down 15% from 2024
  2. E-Commerce Revenue$14.6M527%up 6% from 2024
  3. Pharmacy 340B Contract$4.0M57%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$39.7M558%down 24% from 2024
  2. Ecommerce$14.6M521%up 6% from 2024
  3. E-Commerce Revenue$14.6M521%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.5 The company lost money this year.

Financial statements

Revenue67895$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 profit6781095$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 income6781095-$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 income6781095-$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.5

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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Corporate structure

NextPlat Corp sits at the top of its group. 11 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of NextPlat Corp

  • Sixth Borough Capital Fund LP Filed SC 13G/A on NextPlat Corp, latest Apr 24, 2023 (2 filings since Apr 7, 2023)
  • Phillip Et Al Frost Md. Filed SC 13D on NextPlat Corp, latest Apr 14, 2023
  • Roland Elton Palmer Filed SC 13G/A on NextPlat Corp, latest Feb 14, 2022 (3 filings since Nov 24, 2021)
  • Charles M. Fernandez Filed SC 13D on NextPlat Corp, latest Feb 8, 2022
  • David Phipps Filed SC 13D/A on NextPlat Corp, latest Jan 18, 2022
  • NextPlat Corp Hallandale Beach, Florida
    • Progressive Care Inc. Stake · Miami Gardens, Florida
    • ClearMetrX, Inc. Subsidiary · Florida, United States
    • Family Physicians RX, Inc. (doing business as PharmcoRx 1103 and Pharmcorx 1204) Subsidiary · Florida, United States
    • Global Telesat Communications Limited Subsidiary · United Kingdom
    • Orbital Satcom Corp. Subsidiary · Nevada, United States
    • Outfitter Satellite, Inc. Subsidiary · Tennessee, United States
    • Pharmco, LLC (doing business as Pharmcorx and Pharmcorx LTC) Subsidiary · Florida, United States
    • Progressive Care LLC Subsidiary · Nevada, United States
    • RXMD Therapeutics, Inc. Subsidiary · Florida, United States
    • Touchpoint RX, LLC (doing business as Pharmco Rx 1002, LLC) Subsidiary · Florida, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What NextPlat Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$6.0M5 Dec 31, 2025$6.7M5 Dec 31, 2024−9.5%
Accumulated depreciation$3.5M5 Dec 31, 2025$3.3M5 Dec 31, 2024+8.2%
Property and equipment, net$2.5M5 Dec 31, 2025$3.4M5 Dec 31, 2024−26.5%
Finance-lease assets$05 Dec 31, 2025$5.0K5 Dec 31, 2024−100.0%
Operating-lease assets (leased space)$189.0K5 Dec 31, 2025$812.0K5 Dec 31, 2024−76.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$13.7M5 Dec 31, 2025$20.0M5 Dec 31, 2024−31.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$156.0K5 Dec 31, 2025$156.0K5 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$422.0K5 Dec 31, 2025$524.0K5 Dec 31, 2024−19.5%
Finite-lived intangibles, gross$850.0K5 Dec 31, 2025$850.0K5 Jan 1, 20250%
Accumulated amortization$428.0K5 Dec 31, 2025$326.0K5 Jan 1, 2025+31.3%
Finite-lived intangibles, net$422.0K5 Dec 31, 2025$524.0K5 Jan 1, 2025−19.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$3.4M5 Dec 31, 2025$4.9M5 Dec 31, 2024−30.4%
Finished goods$3.8M5 Dec 31, 2025$5.3M5 Dec 31, 2024−28.3%

Properties, in its own words

Corporate Office

In August 2025, we relocated our corporate office from approximately 4,141 square feet of leased office space in Coconut Grove to a Company-owned facility located at 400 Ansin Blvd., Suite A, Hallandale Beach, Florida, which is co-located with Pharmco 901. The Company-owned facility consists of approximately 11,000 square feet.

The rest of Item 2

e-Commerce locations

We lease a facility in Poole, England for office and warehouse space. Our lease has a three-year term and expires on July 31, 2027. The annual rent is approximately £14,000 through July 31, 2025, approximately £30,000 through July 31, 2026, and approximately £26,000 through July 31, 2027.

Outfitter rents office space at 2727 Old Elm Hill Pike, Nashville, Tennessee. The lease was entered into and commenced in April 2024 with an expiration date of April 2026. The lease agreement calls for monthly payments of approximately $4,800. In December 2025, a First Amendment to Lease Agreement was executed extending the lease through April 1, 2027 and revising lease payments effective January 1, 2026.

Pharmacy locations

We own an approximately 11,000 sq. ft. facility at 400 Ansin Blvd, Suite A, Hallandale, Florida. The monthly mortgage payment is approximately $12,000.

We rent pharmacy space at 3208 2nd Avenue North, Bays 2, 3 and 4, Palm Springs, FL 33461. The original lease expired in March 2021 and automatically renewed for an additional 48 months through February 2025. The lease agreement calls for monthly payments of approximately $4,300, with an escalating payment schedule each year thereafter. During January 2025, the lease was extended for an additional 12 months through February 2026 with monthly payments of approximately $5,600.

We rent pharmacy space at 1160 South Semoran Blvd, Suites D, E, F, Orlando, Florida. The lease was entered into and commenced on August 1, 2020 with a 66-month term and expires on February 1, 2026. The lease agreement calls for monthly payments beginning February 1, 2021 of $4,310, with an escalating payment schedule each year thereafter. In January 2026, the Company executed a First Amendment to the lease agreement for its Orlando, Florida pharmacy location (1160 S. Semoran Blvd., Suites D, E & F), extending the lease term through January 31, 2031 and revising monthly base rent to $8,914 (Feb 2026–Jan 2027), $9,182 (Feb 2027–Jan 2028), $9,457 (Feb 2028–Jan 2029), $9,741 (Feb 2029–Jan 2030), and $10,033 (Feb 2030–Jan 2031).

We rent approximately 2,200 square feet of retail and pharmacy space at 901 North Miami Beach Blvd., North Miami Beach, Florida. The lease is for five years and commenced on September 1, 2021. The lease agreement calls for monthly payments of approximately $5,200, with an escalating payment schedule each year thereafter.

We believe that we have adequate space for our anticipated needs and that suitable additional space will be available at commercially reasonable prices as needed.

Item 2 of the 10-K filed Mar 31, 2026.4

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, 202349
  • SENIOR VICE PRESIDENT OF OPERATIONSANDREW COHEN named Jan 12, 202250
  • DirectorJohn R. Miller named Jan 12, 2022 to Apr 19, 202349

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ClearMetrX, Inc. Florida3
  • Family Physicians RX, Inc. (doing business as PharmcoRx 1103 and Pharmcorx 1204) Florida3
  • Global Telesat Communications Limited England and Wales3
  • Orbital Satcom Corp. Nevada3
  • Outfitter Satellite, Inc. Tennessee3
  • Pharmco, LLC (doing business as Pharmcorx and Pharmcorx LTC) Florida3
  • Progressive Care LLC Nevada3
  • RXMD Therapeutics, Inc. Florida3
  • Touchpoint RX, LLC (doing business as Pharmco Rx 1002, LLC) Florida3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

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. Oct 6, 20268-K Other events51
  2. Aug 13, 20268-K Results of operations52
  3. Jul 16, 20268-K Entered a material agreement; Other events53
  4. Jun 24, 20268-K Shareholder vote54
  5. May 14, 20268-K Results of operations55
  6. Apr 29, 20268-K Regulation FD disclosure56
  7. Apr 28, 20268-K Listing notice or transfer; Other events57
  8. Apr 6, 20268-K Bylaws or fiscal year changed; Other events58
  9. Mar 31, 20268-K Results of operations59
  10. Mar 30, 20268-K Shareholder vote; Other events60
  11. Jan 13, 20268-K Executive or director change61
  12. Dec 9, 20258-K Entered a material agreement62
  13. Jun 21, 2021New chief executive Charles M. Fernandez becomes CEO13
  14. Feb 27, 2015New chief executive David Phipps becomes CEO14
  15. Jan 23, 2014New chief executive Andrew Uribe becomes CEO16
  16. Jan 22, 2014New chief executive Patrick L. Avery becomes CEO15
  17. May 13, 2011New chief executive Daniel Bleak becomes CEO18
  18. Jan 12, 2011New chief executive Glenn Kesner becomes CEO17
  19. Jul 1, 2010New chief executive Eric L. Simon becomes CEO20
  20. Feb 12, 2010New chief executive Gregory D. Cohen becomes CEO19
  21. Sep 6, 2007New chief executive Benjamin C. Croxton becomes CEO21

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.80) a share, on Nov 12, 2025.63

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results52
  2. May 14, 2026Reported quarterly or annual results55
  3. Mar 31, 2026Reported quarterly or annual results59
  4. Nov 13, 2025Reported quarterly or annual results64
  5. Aug 14, 2025Reported quarterly or annual results65
  6. May 15, 2025Reported quarterly or annual results66
  7. Mar 24, 2025Reported quarterly or annual results67
  8. Nov 14, 2024Reported quarterly or annual results68

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

240 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 71 major events, 70 insider forms, 8 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 240 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.

Stakes it holds

NextPlat Corp has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025David Phipps60$375.0K$653.0K75
2025Charles M. Fernandez$277.0K$328.0K75
2025Amanda Ferrio38$186.0K$265.8K75
2025Cecile Munnik$240.0K$254.0K75
2025Robert Bedwell67$175.0K$222.0K75
2024Former ChiefExecutive Officer and Executive Chairman$645.0K$1.5M75
2024Chief Executive Officer and President$350.0K$402.0K75
2024Former Chief Financial Officer$247.5K$299.8K75
2024Chief Compliance Officer and Secretary$185.0K$236.3K75
2024Chief Financial Officer$160.0K$188.0K75

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$21.2M 2022–2023
Money received by yearMoney received by year, 2022–2023: $21.2M in all. Private raises (Form D) $21.2M.$0$5M$10M$15M$20M2022 · Private raises (Form D): $15.2M20222023 · Private raises (Form D): $6.0M2023
Figures by year
YearPrivate raises (Form D)Total
2023$6.0M$6.0M
2022$15.2M$15.2M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Apr 11, 2023Raised $6 million in a private offering of equity49 Form D: 1 investor so far Form D
  2. Dec 14, 2022Raised $8 million in a private offering of equity76 Form D: 48 investors so far Form D
  3. Jan 2, 2022Raised $7.2 million in a private offering of equity50 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.

SEC filer profile

How NextPlat Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNextPlat Corp1
  • CIK0001058307
  • Employer ID (EIN)65-07837224
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inNevada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)4813 Telephone Communications (No Radiotelephone)1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address400 Ansin Blvd, Suite A, Hallandale Beach, FL 330091
  • Phone1-305-560-53811
  • Shares outstanding2,713,222 as of Aug 11, 202612
  • Public float$11.2M as of Jun 30, 20254
  • AuditorRBSM LLP, New York, NY PCAOB ID 587; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceNov 23, 19981
  • Filings819 in all: 8-K (186), 4 (133), 10-Q (55), 3 (40), CORRESP (30), 10QSB (28), UPLOAD (28), SC 13D/A (25)1
    All 61 form types

    8-K/A (22), SC 13D (21), SC 13G/A (21), SC 13G (19), 10-K (18), D (15), S-1/A (13), EFFECT (12), DEF 14A (11), 10KSB (10), NT 10-Q (9), PRE 14A (9), 424B3 (8), S-1 (7), S-3/A (7), S-8 (7), 10-Q/A (6), 5 (6), S-3 (6), 3/A (5), DEF 14C (5), NT 10-K (5), 10-K/A (4), 4/A (4), DEFA14A (4), PRE 14C (4), RW (4), 424B5 (3), ARS (2), POS AM (2), S-4/A (2), SC 14F1 (2), 10KSB/A (1), 10QSB/A (1), 10SB12B/A (1), 10SB12G (1), 10SB12G/A (1), 25-NSE (1), 424B4 (1), 425 (1), 8-A12B (1), AW (1), CERT (1), CT ORDER (1), DEFR14A (1), DEFR14C (1), PREC14A (1), PRER14A (1), RW WD (1), S-1MEF (1), S-4 (1), S-8 POS (1), SC 14F1/A (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Apr 30, 2026
    Latest 8-K (8-K) Oct 6, 2026

Risk factors and legal proceedings

The risks NextPlat Corp names in Item 1A of its 10-K filed Mar 31, 2026: 28 risks under these headings, as written.4

  • Risks Related to Our Business Generally
  • We have incurred significant net losses, have accumulated deficit, and may require additional capital to continue operations and execute our business strategy.
  • Unfavorable global economic conditions, inflation, rising interest rates and financial market volatility could materially adversely affect our business.
  • Our business may be adversely affected by pandemics, public health crises, natural disasters, acts of war or other events beyond our control.
  • We rely heavily on a single pharmaceutical wholesale distributor for substantially all of our pharmaceutical purchases.
  • We may fail to maintain compliance with applicable continued listing standards of The Nasdaq Stock Market.
  • We have been notified by The Nasdaq Stock Market LLC of our failure to comply with certain Nasdaq continued listing requirements and if we are unable to regain compliance with all applicable Nasdaq continued listing requirements and standards, our Common Stock could be delisted from Nasdaq.
  • The Reverse Stock Split may incentivize stockholders to sell their holdings of our common stock following the effectiveness of the Reverse Stock Split and depress the stock price, which could lead to our delisting from Nasdaq.
  • If the results of the Reverse Stock Split are different than expected and we are delisted from Nasdaq, the delisting will have a significant adverse impact on our business, operations, cash flows, and financial condition.
  • The Reverse Stock Split may not increase the price of our common stock over the long term.
  • The Reverse Stock Split may decrease the liquidity of our common stock.
  • The Reverse Stock Split may result in some stockholders owning “odd lots” that may be more difficult to sell or require greater transaction costs per share to sell.
The other 17 risks
  • The Reverse Stock Split may lead to a decrease in our overall market capitalization.
  • Our business requires significant working capital, and we are exposed to inventory and receivables risk.
  • We may not have adequate insurance coverage to protect against all operational and product liability risks.
  • Risks Related to Our e-Commerce Business
  • We depend significantly on Amazon marketplaces and fulfillment services, and adverse changes to our relationship with Amazon could materially harm our business.
  • Our e-Commerce operations depend on global suppliers, manufacturers and logistics providers.
  • We operate in highly competitive markets and technological advances may render our products less competitive.
  • Risks Related to Healthcare and Regulation
  • Changes in reimbursement rates, healthcare regulations, or pharmacy benefit manager practices could materially adversely affect our healthcare segment.
  • We are subject to extensive and evolving domestic and international laws and regulations.
  • Our healthcare operations are subject to audits, investigations and potential recoupment actions by government agencies and pharmacy benefit managers.
  • Failure to comply with laws and regulations governing controlled substances could materially adversely affect our operations.
  • A significant portion of our pharmacy segment gross profit is derived from participation in the federal 340B Drug Pricing Program, and adverse changes to the program could materially adversely affect our profitability and cash flows.
  • Risks Related to Data Security and Technology
  • Security breaches or failures in our information systems could materially harm our business.
  • We may incur significant costs and liabilities in connection with data privacy and cybersecurity regulations.
  • Risks Related to Acquisitions and Growth
  • Our growth strategy involves acquisitions and strategic investments that may not achieve expected benefits.
  • Risks Related to International Operations and China
  • Our operations in China expose us to political, economic and regulatory risks.
  • Risks Related to Corporate Governance and Public Company Status
  • Being a public company increases our costs and administrative burdens.
  • Concentration of ownership may limit other stockholders’ ability to influence corporate matters.

Legal proceedings

On March 17, 2025, a former employee of Pharmco LLC, a wholly owned subsidiary of the Company, filed a lawsuit against Pharmco LLC, asserting claims under the Equal Employment Opportunity Commission (EEOC) regulations. On October 14, 2025, the Company reached a Settlement Agreement with the plaintiff to resolve all claims. The settlement was fully covered by the Company’s insurance policy, and the insurer remitted payment directly to the plaintiff on the Company’s behalf.

On October 28, 2024, Alan Jay Weisberg, the former Chief Executive Officer and Chairman of Progressive Care Inc. (“RXMD”), filed a putative class action suit on behalf of himself and all other former RXMD stockholders against NextPlat, Charles M. Fernandez, the former Chief Executive Officer and director of NextPlat, and Rodney Barreto, a director of NextPlat. The complaint purports to allege a breach of fiduciary duty by NextPlat and Messrs. Fernandez and Barreto in connection with the merger of RXMD with and into a wholly owned subsidiary of NextPlat (the “Merger”), which Merger was completed on October 1, 2024 following approval by the stockholders of each of NextPlat and RXMD in stockholder meetings held on September 13, 2024 by NextPlat and RXMD. Among other things, the complaint asserts that the consideration paid to Mr. Weisberg and the other RXMD stockholders in connection with the Merger was insufficient. The monetary relief requested in the complaint includes compensatory and rescissory damages in an unspecified dollar amount. The complaint is pending in the Court of Chancery of the State of Delaware. The caption is Alan Jay Weisberg v. Charles M. Fernandez, Rodney Barreto and Nextplat Corp., and the case number is C.A. No. 20. 24-1097-MTZ.

The opening of Item 3, Legal Proceedings.4

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