NextPlat (NXPL) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $9.9 million, down 29% year-over-year, reflecting a decline in healthcare operations but partially offset by e-commerce growth.

• Achieved record consolidated gross margin of 35%, up from 21% year-over-year, driven by improved pharmacy contract revenue mix and cost controls.

• Net loss attributable to common stockholders improved to $1.1 million, or ($0.42) per diluted share, down from $1.9 million or ($0.75) per share year-over-year.

• Operating expenses decreased by 9% to $4.5 million, mainly from lower salaries and depreciation, supporting improved efficiency.

• Regained Nasdaq compliance after a 1-for-10 reverse stock split in April 2026.

Financial highlights

• Healthcare Operations pharmacy prescription revenue fell to $4.8 million from $9.5 million year-over-year, while pharmacy contract revenue rose to $1.9 million from $1.4 million year-over-year.

• E-commerce revenue increased to $3.2 million, up 6% year-over-year, with strong global demand and recurring revenue at record highs.

• Consolidated gross profit was $3.4 million, up from $2.9 million year-over-year.

• Gross margin in pharmacy operations improved to 39% from 20% year-over-year.

• Ended Q1 with $11 million in cash and $14.2 million in working capital, with no unsecured debt.

Outlook and guidance

• Management expects higher margin contracted healthcare services and reduced expenses to enable positive operating income in the latter half of 2026.

• New healthcare contracts and partnerships are expected to contribute to revenue starting Q3 2026.

• Priorities include expanding contract-based healthcare, sustaining gross margins, and evaluating strategic growth opportunities.

• Focus remains on disciplined execution, operational efficiency, and long-term shareholder value.

• Management expects existing cash resources to support operations for at least 12 months.