NextPlat Corp reported third-quarter 2025 consolidated revenue of approximately $13.8 million, down from $15.4 million in the same period last year. 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 expected to continue into the fourth quarter.
Gross margin declined to 19.9% from 23.2% in the prior year, attributed to lower healthcare and e-commerce margins tied to reduced 340B revenue, new airtime costs, and temporary customer rate adjustments. Despite these challenges, the company demonstrated significant progress in cost management with operating expenses falling to approximately $4.7 million from $7.8 million in the previous year.
The expense reduction was driven by decreased stock-based compensation, executive compensation, and headcount reductions under companywide efficiency measures. These improvements contributed to a reduced net loss of approximately $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 same quarter last year. The company ended the quarter with $13.9 million in cash and repurchased 130,549 shares during the period.
NextPlat operates as a global consumer products and services company providing healthcare and technology solutions through e-commerce and retail channels worldwide. The company's current operations include 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 Progressive Care subsidiary. 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.
The quarterly results highlight NextPlat's strategic focus on operational efficiency while navigating market challenges in both healthcare and e-commerce segments. The improving prescription volumes in the healthcare division and the company's strengthened cash position provide a foundation for potential recovery and growth in subsequent quarters as market conditions evolve. For business leaders in healthcare technology, these results demonstrate how companies can successfully implement cost-control measures during challenging revenue periods while maintaining operational capabilities for future growth opportunities.
