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Private company

Progressive Care Inc.

Progressive Care Inc. is an American Retail-Drug Stores and Proprietary Stores company.1 It is headquartered in Miami Gardens, Florida.1

Last updated Oct 21, 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…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 2022

23.9%Gross margin5
-6.4%Operating margin5
-14.5%Net margin5
4.5%Revenue growth, 20225
-77.5%Return on equity5
0.56×Debt to equity6
$483.0KFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • 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.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

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

Out of $669.0K of cash from operations.5

Financial statements

Revenue65$40.6M in 2022+5% since 2021
0$20.0M$40.0M$60.0M2021: $38.9M$38.9M20212022: $40.6M$40.6M2022+5%
Gross profit65$9.7M in 2022−5% since 2021
0$5.0M$10.0M$15.0M2021: $10.2M$10.2M20212022: $9.7M$9.7M2022−5%
Operating income65-$2.6M in 2022+107% since 2021
-$3.0M-$2.0M-$1.0M02021: -$1.2M-$1.2M20212022: -$2.6M-$2.6M2022+107%
Net income65-$5.9M in 2022
-$6.0M-$4.0M-$2.0M0$2.0M2021: $218.0K$218.0K20212022: -$5.9M-$5.9M2022
Fiscal year202020212022
Revenue$38.9M6$40.6M5
Cost of revenue$28.7M6$30.9M5
Gross profit$10.2M6$9.7M5
Selling, general and admin$11.2M6$5.0M5
Operating expenses$11.4M6$12.3M5
Operating income-$1.2M6-$2.6M5
Interest$1.4M6$798.0K5
Income before tax$218.0K6-$5.9M5
Income tax$1.0K5
Net income$218.0K6-$5.9M5
Earnings per share$0.086-$2.215
Earnings per share (diluted)$0.076-$2.215
Shares (weighted, basic)2.6M shares62.9M shares5
Shares (weighted, diluted)3.1M shares62.9M shares5

Compare Progressive Care Inc. with another company

Corporate structure

Progressive Care Inc. is part of a group headed by NextPlat Corp. 10 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • NextPlat Corp Hallandale Beach, Florida
    • Progressive Care Inc. 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
    • 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. Each entity in the chart links to its source.

What it owns

What Progressive Care Inc. 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$3.4M5 Dec 31, 2023$3.4M5 Dec 31, 2022+0.5%
Accumulated depreciation$136.0K5 Dec 31, 2023$819.0K5 Dec 31, 2022−83.4%
Property and equipment, net$3.3M5 Dec 31, 2023$2.6M5 Dec 31, 2022+27.1%
Finance-lease assets$22.0K5 Dec 31, 2023$54.0K5 Dec 31, 2022−59.3%
Operating-lease assets (leased space)$427.0K5 Dec 31, 2023$446.0K5 Dec 31, 2022−4.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$7.9M5 Dec 31, 2023$6.7M5 Dec 31, 2022+17.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$731.0K5 Dec 31, 2023$1.4M5 Dec 31, 2022−47.3%
Intangible assets, net (excluding goodwill)$14.4M5 Dec 31, 2023$127.0K5 Dec 31, 2022+11237.0%
Finite-lived intangibles, gross$15.7M5 Dec 31, 2023$945.0K5 Dec 31, 2022+1562.4%
Accumulated amortization$1.3M5 Dec 31, 2023$818.0K5 Dec 31, 2022+60.4%
Finite-lived intangibles, net$14.4M5 Dec 31, 2023$127.0K5 Dec 31, 2022+11237.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$3.1M5 Dec 31, 2023$688.0K5 Dec 31, 2022+346.1%

Leadership

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

Chief executive

  1. Buddy Young2010
  2. Avraham A. Friedman2011–2012
  3. Vernon Watson2012
  4. Alan Jay Weisberg2013–2022
  5. Charles M. Fernandez2023

Chair

  1. Buddy Young2010
  2. Charles M. Fernandez2023

President

  1. Buddy Young2010

Chief financial officer

  1. Buddy Young2010
  2. Alan Jay Weisberg2012–2013
  3. Cecile Munnik2021–2022

Chief operating officer

  1. Andy Subachan2011–2012
  2. Shital P. Parikh2012
  3. Birute Norkute2022
  4. Pamela M. Roberts2023
201520202025
Board members and other officers (12)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ClearMetrX, Inc. Florida3
  • Family Physicians RX, Inc. (doing business as PharmcoRx 1103 and Pharmcorx 1204) Florida3
  • Pharmco, LLC (doing business as Pharmcorx and Pharmcorx LTC) 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

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

Timeline

  1. Sep 17, 20248-K Shareholder vote; Other events28
  2. Aug 14, 20248-K Regulation FD disclosure29
  3. May 15, 20248-K Results of operations; Regulation FD disclosure30
  4. Apr 22, 20248-K Change of auditor31
  5. Apr 17, 20248-K Entered a material agreement; Regulation FD disclosure32
  6. Apr 11, 20248-K Results of operations; Regulation FD disclosure33
  7. Nov 14, 20238-K Results of operations; Regulation FD disclosure34
  8. Aug 14, 20238-K Results of operations; Regulation FD disclosure35
  9. Jul 21, 20238-K Executive or director change36
  10. Jun 30, 2023New chief executive Charles M. Fernandez becomes CEO9
  11. May 12, 20238-K Results of operations; Regulation FD disclosure37
  12. May 11, 20238-K Entered a material agreement; Other events38
  13. May 10, 20238-K Change of auditor39
  14. Mar 7, 2013New chief executive Alan Jay Weisberg becomes CEO10
  15. Aug 28, 2012New chief executive Vernon Watson becomes CEO11
  16. Jan 14, 2011New chief executive Avraham A. Friedman becomes CEO12
  17. Oct 19, 2010New chief executive Buddy Young becomes CEO13

Calendar

When it reported results

  1. May 15, 2024Reported quarterly or annual results30
  2. Apr 11, 2024Reported quarterly or annual results33
  3. Nov 14, 2023Reported quarterly or annual results34
  4. Aug 14, 2023Reported quarterly or annual results35
  5. May 12, 2023Reported quarterly or annual results37
  6. Apr 3, 2023Reported quarterly or annual results40
  7. Nov 15, 2022Reported quarterly or annual results41
  8. Aug 12, 2022Reported quarterly or annual results42

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

Filings

79 filings to the SEC since October 2021: 2 annual reports, 8 quarterly reports, 26 major events, 27 insider forms, 3 large holders, 13 other. The latest 20:

  1. Oct 2, 202415-15D EDGAR
  2. Sep 17, 20248-K EDGAR
  3. Aug 14, 20248-K EDGAR
  4. Aug 14, 202410-Q EDGAR
  5. Aug 6, 2024DEF 14A EDGAR
  6. May 15, 202410-Q EDGAR
  7. May 15, 20248-K EDGAR
  8. Apr 22, 20248-K EDGAR
  9. Apr 17, 2024425 EDGAR
  10. Apr 17, 20248-K EDGAR
  11. Apr 11, 20248-K EDGAR
  12. Apr 11, 202410-K EDGAR
  13. Apr 2, 2024NT 10-K EDGAR
  14. Nov 14, 20238-K EDGAR
  15. Nov 14, 202310-Q EDGAR
  16. Oct 23, 20234 EDGAR
  17. Oct 23, 20234 EDGAR
  18. Oct 23, 20233 EDGAR
  19. Oct 20, 20234 EDGAR
  20. Oct 20, 20234 EDGAR

The 79 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.

DateWhoTradeSharesPriceValueFiling
Jul 1, 2023Barreto RodneyDirectorSale520,999$4.39$2.3MForm 4
Jul 1, 2023Fernandez Charles M.Chairman & CEOSale600,100$4.45$2.7MForm 4
May 9, 2023Fernandez Charles M.Chairman & CEOBuy455,000$2.20$1.0MForm 4
May 9, 2023Barreto RodneyDirectorBuy455,000$2.20$1.0MForm 4
Dec 14, 2021Weisberg Alan JayChief Executive OfficerBuy277,528$0.03$8.3KForm 4
Dec 13, 2021Weisberg Alan JayChief Executive OfficerBuy437,451$0.03$13.1KForm 4
Dec 13, 2021Munnik CecileChief Financial OfficerBuy532,000$0.03$16.0KForm 4
Dec 13, 2021Munnik CecileChief Financial OfficerBuy17,024$0.03$511Form 4
Dec 10, 2021Weisberg Alan JayChief Executive OfficerBuy92,559$0.03$2.8KForm 4
Dec 10, 2021Munnik CecileChief Financial OfficerBuy468,000$0.03$14.0KForm 4
Dec 10, 2021Munnik CecileChief Financial OfficerBuy14,946$0.03$448Form 4
Dec 9, 2021Weisberg Alan JayChief Executive OfficerBuy692,462$0.03$20.8KForm 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.

SEC filer profile

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

  • Name on EDGARProgressive Care Inc.1
  • CIK0001402945
  • Employer ID (EIN)32-01860051
  • Filer status<br>emerging growth company1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 311
  • Industry code (SIC)5912 Retail-Drug Stores and Proprietary Stores1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address1111 Park Center Blvd., Suite 202, Miami Gardens, FL 331691
  • Phone786-657-20601
  • Shares outstanding6,392,358 as of Aug 9, 20248
  • Public float$12.6M as of Jun 30, 20235
  • On EDGAR sinceJun 13, 20071
  • Filings202 in all: 8-K (47), 4 (26), 10-Q (25), 10-Q/A (11), 3 (11), UPLOAD (10), NT 10-Q (8), 10-K (7)1
    All 30 form types

    CORRESP (7), 10-K/A (6), 5 (6), SC 13D (6), 10-12G/A (4), NT 10-K (4), SC 13D/A (4), 10SB12G/A (3), 4/A (2), 8-K/A (2), S-1/A (2), 10-12G (1), 10SB12G (1), 15-12G (1), 15-15D (1), 425 (1), D (1), DEF 14A (1), DRS (1), DRS/A (1), RW (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Apr 11, 2024
    Quarterly report (10-Q) Aug 14, 2024
    Proxy statement (DEF 14A) Aug 6, 2024
    Latest 8-K (8-K) Sep 17, 2024

Sources

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