NextPlat Reports 3Q Results with Nearly 35% Improvement in Year-Over-Year Gross Profit, Consolidated Quarterly Gross Margins of 35% & Approximately 66% Reduction in Net Loss

NextPlat Reports 3Q Results with Nearly 35% Improvement in Year-Over-Year Gross Profit, Consolidated Quarterly Gross Margins of 35% & Approximately 66% Reduction in Net Loss Company Sees 72% Growth in Higher Margin 340B Prescription Volumes as it Continues to Expand its Pharmacy Footprint

HALLANDALE BEACH, Fla., Nov. 12, 2026 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL) ("NextPlat" or the "Company"), a global consumer products and services company providing healthcare and technology solutions through e-commerce and retail channels worldwide, today announced operating results for the third quarter ended September 30, 2026.

"Our third quarter results reflect continued year-over-year improvement across the business, driven by the refocusing of our healthcare operations on high-value, high-margin services designed to deliver consistent bottom-line results in what remains a dynamic market," said David Phipps, Chief Executive Officer and President of NextPlat Corp. "Our focus remains on growth and profitability through our differentiated, high-value healthcare services and expanding community pharmacy network, including our new Scott's location near Pensacola and a new pharmacy in Jacksonville, supported by a more efficient operating structure. Looking ahead, we anticipate further progress on our growth initiatives, including selective acquisitions, the introduction of new value-added services such as automated dispensing, and entry into new online healthcare and consumer markets

Third Quarter 2026 Financial Highlights:

Organizational Highlights and Recent Business Developments:

Third Quarter 2026 Conference Call Notification

NextPlat's Chief Executive Officer and President, David Phipps, its Chief Financial Officer, Amanda Ferrio, and Vice President of Healthcare Operations, Birute Norkute, will host a conference call today, November 12 th at 8:30 a.m. Eastern time to discuss the results for the quarter ended September 30, 2026, as well as other recent developments.

To access the call, please use the following information:

Date:

Thursday, November 12, 2026

Time:

8:30 a.m. Eastern time

Toll-free dial-in number:

1-877-407-9716

International dial-in number:

1-201-493-6779

Conference webcast link:

https://viavid.webcasts.com/starthere.jsp?ei=1782317&tp_key=5b15b90b68

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization.

The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1782317&tp_key=5b15b90b68 and via the investor relations section of the Company's website at https://ir.nextplat.com/news-events/ir-calendar. A replay of the conference call will be available after 12:00 p.m. Eastern time through November 26, 2026 .

Toll-free replay number:

1-844-512-2921

International replay number:

1-412-317-6671

Replay entry code:

13763732

The financial information included in this press release should be read in conjunction with the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, to be filed with the Securities and Exchange Commission .

About NextPlat Corp

NextPlat is 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, the Company seeks to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat 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.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional e-commerce capabilities for consumer and healthcare products and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.

Media and Investor Contact for NextPlat Corp:

Michael Glickman

MWGCO, Inc.

917-397-2272

[email protected]

NEXTPLAT CORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In thousands, except per share data)

(Unaudited)

Three Months Ended September

30,

Nine Months Ended September

30,

2026

2025

2026

2025

Revenues, net

10,499

13,752

32,235

40,918

Cost of revenue

6,821

11,022

20,451

32,441

Gross profit

3,678

2,730

11,784

8,477

Operating expenses:

Selling, general and administrative

2,032

1,899

6,483

5,924

Salaries, wages and payroll taxes

2,347

2,665

7,062

7,929

Depreciation and amortization

130

170

450

Intangible asset amortization

Loss on settlement of litigation

—

250

—

250

Total operating expenses

4,455

4,969

13,791

14,629

Operating loss

(777)

(2,239)

(2,007)

(6,152)

Non-operating (income) expense

(9)

(28)

(11)

(250)

Loss before income taxes

(768)

(2,211)

(1,996)

(5,902)

Income taxes benefit (expense)

(28)

(14)

Net loss

(748)

(2,185)

(2,024)

(5,916)

Net loss attributable to non-controlling interest

—

Net loss attributable to common stockholders

(748)

(2,185)

(2,010)

(5,916)

Comprehensive loss:

Net loss

(748)

(2,185)

(2,024)

(5,916)

Foreign currency (loss) gain

(5)

(51)

Comprehensive loss

(753)

(2,167)

(2,012)

(5,967)

NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS

(748)

(2,185)

(2,010)

(5,916)

Weighted average number of common shares outstanding – basic and

diluted

2,701

2,596

2,692

2,596

Basic and diluted loss per share

(0.28)

(0.84)

(0.75)

(2.28)

NEXTPLAT CORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except shares and par value data)

September 30, 2026

December 31, 2025

(Unaudited)

(Audited)

ASSETS

Current Assets

Cash

11,220

13,709

Receivables, net of allowances of $64 and $40 as of September 30, 2026 and December 31,

2025, respectively

7,104

5,944

Inventory, net of inventory reserves of $416 and $418 as of September 30, 2026 and

December 31, 2025, respectively

4,261

3,396

Other current assets

873

1,107

Total Current Assets

23,458

24,156

Property and equipment, net of accumulated depreciation of $948 and $3,527 as of September

30, 2026 and December 31, 2025, respectively

2,410

2,505

Operating right-of-use assets, net

691

189

Goodwill

156

Intangible assets, net

346

422

Other noncurrent assets

Total Assets

27,151

27,465

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable and accrued expenses

9,358

8,265

Notes payable

122

416

Operating lease liabilities

179

158

Other current liabilities

340

287

Total Current Liabilities

9,999

9,126

Long Term Liabilities:

Notes payable, net of current portion

810

876

Operating lease liabilities, net of current portion

501

Total Liabilities

11,310

10,043

Commitments and Contingencies

—

Equity

Preferred stock ($0.0001 par value; 3,333,333 shares authorized; no shares issued or

outstanding)

—

Common stock ($0.0001 par value; 50,000,000 shares authorized, 2,721,529 and 2,676,788

shares issued and 2,708,475 and 2,663,734 shares outstanding as of September 30, 2026 and

December 31, 2025, respectively)

—

Additional paid-in capital

78,020

77,586

Accumulated deficit

(62,073)

(60,063)

Accumulated other comprehensive loss

(106)

(118)

Treasury stock (at cost; 13,054 shares as of September 30, 2026 and December 31, 2025)

(100)

Equity attributable to common stockholders

15,741

17,308

Equity attributable to non-controlling interests

100

114

Total Equity

15,841

17,422

Total Liabilities and Equity

27,151

27,465

SOURCE NextPlat Corp.