NextPlat Corp reported third-quarter 2025 financial results showing consolidated revenue of approximately $13.8 million compared to $15.4 million in the prior year period. The revenue decline primarily reflected lower 340B pharmacy contract revenue, though the company noted that late-quarter customer re-engagement efforts drove improving prescription volumes that are expected to continue into the fourth quarter.
Gross margin declined to 19.9% from 23.2% in the prior year, reflecting lower margins in both the Healthcare and e-commerce segments. The margin compression was tied to reduced 340B revenue, new airtime costs, and temporary customer rate adjustments that affected the company's profitability during the quarter.
The company demonstrated significant progress in cost management, with operating expenses falling to approximately $4.7 million from $7.8 million in the same period last year. This substantial reduction was achieved through decreased stock-based compensation, executive compensation, and headcount reductions as part of companywide efficiency measures. These cost-cutting initiatives contributed to a reduced net loss of about $2.2 million, or ($0.08) per diluted share, compared to a loss of $4.2 million, or ($0.22) per diluted share, in the prior year period.
NextPlat ended the quarter with $13.9 million in cash and repurchased 130,549 shares during the period, demonstrating the company's focus on capital management and shareholder value. The company operates as 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, NextPlat assists businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-commerce presence and revenue.
The company 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. Investors can access the full press release at https://ibn.fm/o5FVB and stay updated with company news through their newsroom at https://ibn.fm/NXPL.
