Revenue: As of FY2025, the actual value is USD 54.32 M.

EPS: As of FY2025, the actual value is USD -0.44.

EBIT: As of FY2025, the actual value is USD -9.294 M.

Financial Highlights (Full Year 2025 vs. 2024)

Segment Revenue

• Consolidated Revenue: For the full year ended December 31, 2025, consolidated revenue was approximately $54.3 million, marking an 18% decrease from approximately $66.1 million in the prior year .
• Healthcare Operations Revenue: Full year 2025 Healthcare Operations revenue decreased by approximately $12.6 million to $39.7 million from $52.3 million in the prior year . This decline was primarily due to an approximate $11.3 million decrease in total prescriptions filled and an approximate $6.4 million decrease in 340B contract revenue, partially offset by an approximate $5.1 million increase in reimbursement rates per prescription filled . The company filled approximately 374,000 prescriptions in 2025, down from 473,000 in the prior year . In the fourth quarter of 2025, healthcare revenue was approximately $9.0 million, a sequential decrease from approximately $10.1 million in the third quarter of 2025 .
• e-Commerce Revenues: Total e-Commerce revenues for the year ended December 31, 2025, were approximately $14.6 million, an increase of approximately $0.8 million from $13.8 million in 2024 . This increase was primarily driven by an approximate $0.4 million increase in airtime and hardware sales and a favorable foreign currency impact of approximately $0.4 million . The company sold over 5,000 Iridium and Globalstar devices and more than 12,000 satellite-enabled trackers and messengers in 2025 .

Operational Metrics

• Overall Gross Margin: Overall gross margin for 2025 was approximately 20%, compared to approximately 26% for the prior year .
• Healthcare Operations Gross Margin: Gross margin for Healthcare Operations decreased to approximately 19% in 2025 from 26% in 2024, mainly due to a decrease in pharmacy 340B contract revenue .
• e-Commerce Operations Gross Margin: Gross margin for e-Commerce Operations decreased slightly to approximately 23% in 2025 from 25% in 2024, attributed to new airtime costs from an expired service provider contract and temporary rate reductions due to network service interruptions .
• Total Operating Expenses: Total operating expenses for 2025 were approximately $19.9 million, representing a decrease of approximately $20.1 million, or 50%, from $40.0 million in the prior year . The prior year’s operating expenses included a non-recurring impairment loss of approximately $13.7 million . The significant decline in operating expenses was also due to a 20% decrease in salaries and wages from headcount and executive compensation reductions, and a 49% decrease in professional fees .
• Net Loss Attributable to Common Stockholders: Net loss attributable to common stockholders for 2025 was approximately - $11.7 million, compared to approximately - $13.4 million for 2024 .

Cash and Working Capital

• The company ended 2025 with approximately $13.7 million in cash, no meaningful unsecured debt, and approximately $15.0 million in working capital .

Operational Metrics and Highlights

• Cost Reductions: NEXTPLAT CORP. successfully cut over $2 million in annualized costs across the organization by streamlining operations, eliminating unused office space, and reducing staff headcount by more than 25% .
• Healthcare Focus Shift: During the second half of 2025, the company prioritized higher-margin healthcare business development, recruited new sales teams for 340B and long-term care facility markets, and secured new high-volume contracted medication fulfillment services for two facilities in Florida .
• e-Commerce Growth: The company expanded its e-commerce sales and distribution platforms for satellite connectivity and communications products through new and expanded relationships with providers like Globalstar and Iridium in Europe, and launched sales in Latin America .

Outlook / Guidance

NEXTPLAT CORP. expects to achieve operational profitability goals in 2026, driven by business turnaround and cost-cutting initiatives that began improving operational and financial metrics in Q4 2025 . The company forecasts improved performance and profitability for 2026, supported by investments in business development, organizational process improvements, and enhanced customer service in its healthcare operations . Management anticipates further meaningful reductions in operating expenses throughout 2026 and expects continued growth in higher-margin pharmacy contract services like 340B and medication fulfillment .