NextPlat Q3 2025 Revenue Report: 13.8 Million Dollars

NextPlat Corp Reports Q3 2025 Revenues

NextPlat Corp (NASDAQ: NXPL, NXPLW), a company that offers global consumer products and services through e-commerce and retail channels, providing health and technology solutions, announced its financial results for the quarter ended September 30, 2025. Total consolidated revenue for the third quarter was approximately $13.8 million. This figure represents a decrease from the $15.4 million revenue recorded for the quarter ending September 30, 2024.

Managing Director and President David Phipps stated, "We are beginning to see the positive effects of our cost-reduction, customer re-engagement, and operational efficiency efforts as we approach the end of the third quarter. Additionally, the increasing prescription volumes at the beginning of the fourth quarter, along with the corresponding revenue in the health segment, indicate the expected positive impacts of our renewed focus efforts."

The decline in first-quarter revenue is primarily attributed to decreases in health operations, especially the drop in 340B contract revenues. However, direct interactions with 340B customers at the end of the quarter have shown improving prescription volumes in this segment, with an expected increase by the fourth quarter.

The gross profit margin for the third quarter decreased from 23.2% in the same quarter last year to 19.9%. Notably, the gross profit margin in the health segment fell from 21.5% to 18.4%.

Operating expenses were recorded at approximately $4.7 million, significantly down from around $7.8 million in the same quarter last year. Additionally, NextPlat has taken steps to improve its cost structure due to decreases in stock-based compensation, executive compensation, and staff reductions. As a result, the net loss decreased by approximately 48% compared to the same quarter last year, amounting to $2.2 million.

As of September 30, 2025, the company reported approximately $13.9 million in cash. Furthermore, during the third quarter, NextPlat repurchased a total of 130,549 shares under its authorized stock buyback program.

Management continues to restructure the company’s operations to reduce costs and increase efficiency. NextPlat aims to achieve approximately $2.0 million in annual savings, directing these saved resources towards improving customer service and acquiring new sales contracts.