NextPlat Corp (NXPL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NXPL SEC filings page.
NextPlat Corp (NXPL) reported $48.9M in revenue over the twelve months to Jun 30, 2026, down 16.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue contraction now coexists with thinner gross margins, persistent operating losses, and cash consumption.
Revenue fell17.8% from FY2024 to FY2025 while gross margin compressed from25.7% to20.1% , so the business sold less and retained less per sales dollar. Yet operating margin improved to-16.6% even as operating cash flow nearly matched free cash flow, indicating lower reported operating charges rather than stronger underlying cash economics.
Assets contracted
In FY2025, a
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of NextPlat Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
NextPlat Corp held $13.7M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $6.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and NextPlat Corp scores 51/100 among other emerging companies.
NextPlat Corp had 27M shares outstanding at the end of fiscal year 2025, against 26M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and NextPlat Corp scores 34/100 among other emerging companies.
Not available for NextPlat Corp, and counted as zero in the overall score.
NextPlat Corp reported revenue of $54.3M in fiscal year 2025, against $66.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and NextPlat Corp scores 64/100 among other emerging companies.
NextPlat Corp's operations used $6.1M of cash in fiscal year 2025, against $5.5M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and NextPlat Corp scores 22/100 among other emerging companies.
NextPlat Corp's cash, cash equivalents and investments came to $13.7M at the end of fiscal year 2025, against $10.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and NextPlat Corp scores 66/100 among other emerging companies.
NextPlat Corp scores -0.05, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($24.4M) relative to total liabilities ($10.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
NextPlat Corp passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
NextPlat Corp reported a net loss of $10K while operations used $6.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
NextPlat Corp reported an operating loss of $9.0M against $64K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
NextPlat Corp generated $11.9M in revenue in Q2 2026. This represents a decrease of 10.3% from the same quarter a year earlier. Against the prior quarter it is up 20.6%.
NextPlat Corp's EBITDA was -$47K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 97.2% from the same quarter a year earlier. Against the prior quarter it is up 95.4%.
NextPlat Corp reported -$144K in net income in Q2 2026. This represents an increase of 92.0% from the same quarter a year earlier. Against the prior quarter it is up 87.1%.
Not reported for Q2 2026.
Cash & Balance Sheet
NextPlat Corp generated $1.1M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 203.0% from the same quarter a year earlier. Against the prior quarter it is up 142.0%.
NextPlat Corp held $11.9M in cash against $1.0M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
NextPlat Corp's gross margin was 39.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 17.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.9 percentage points.
NextPlat Corp's operating margin was -1.1% in Q2 2026, reflecting core business profitability. This is up 12.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.1 percentage points.
NextPlat Corp's net profit margin was -1.2% in Q2 2026, showing the share of revenue converted to profit. This is up 12.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.1 percentage points.
NextPlat Corp's ROE was -0.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 6.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.9 percentage points.
Capital Allocation
NextPlat Corp reported no capital expenditure in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Not reported for Q2 2026.
Not reported for Q2 2026.
NXPL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.9M-10.3% | $9.9M-29.2% | $13.4M-17.4% | $13.8M-10.5% | $13.2M-22.1% | $13.9M-20.4% | $16.2M-2.4% | $15.4M+0.5% |
| Cost of Revenue | $7.2M-30.6% | $6.4M-41.8% | $11.0M-18.7% | $11.0M-6.7% | $10.4M-7.0% | $11.1M-12.4% | $13.5M+18.7% | $11.8M+10.3% |
| Gross Profit | $4.7M+62.8% | $3.4M+19.1% | $2.4M-11.0% | $2.7M-23.3% | $2.9M-50.8% | $2.9M-41.1% | $2.7M-48.1% | $3.6M-22.4% |
| SG&A Expenses | $2.4M+23.7% | $2.0M-1.5% | $520K-64.8% | $1.5M-12.6% | $2.0M+23.3% | $2.0M+48.5% | $1.5M-38.9% | $1.7M-58.7% |
| Operating Income | -$127K+93.1% | -$1.1M+47.1% | -$3.1M-35.4% | -$2.0M+75.1% | -$1.8M+83.2% | -$2.1M-13.1% | -$2.3M+84.9% | -$8.0M-130.1% |
| EBITDA | -$47K+97.2% | -$1.0M+46.3% | -$3.0M+19.9% | -$1.9M+75.3% | -$1.7M+83.2% | -$1.9M-101.7% | -$3.8M+73.4% | -$7.5M-188.6% |
| Interest Expense | N/A | N/A | $17K-10.5% | $14K-36.4% | $15K-21.1% | $18K-14.3% | $19K-19.1% | $22K-52.1% |
| Income Tax | $48K+54.8% | $0-100.0% | -$14K+33.3% | -$26K-157.8% | $31K+55.0% | $9K-66.7% | -$21K+55.3% | $45K+95.7% |
| Net Income | -$144K+92.0% | -$1.1M+42.4% | $5.9M-46.2% | -$2.2M+48.2% | -$1.8M+66.3% | -$1.9M-31.1% | $11.0M+431.3% | -$4.2M-222.3% |
| EPS (Basic) | -$0.05+92.8% | -$0.42+44.0% | -$0.24-140.0% | -$0.08+63.6% | -$0.69-146.4% | -$0.75-837.5% | -$0.100.0% | -$0.22-222.2% |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | -$0.05 | -$0.100.0% | -$0.22-229.4% |
| Diluted Shares (Avg) | 3M | 3M | N/A | 26M+36.9% | 3M-86.2% | 3M | N/A | 19M-6.5% |
Not reported in any period shown, so not listed: R&D Expenses.
NXPL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $28.7M-7.6% | $26.9M-23.5% | $27.5M-25.9% | $30.0M-27.0% | $31.0M-39.7% | $35.2M-45.9% | $37.1M-42.5% | $41.1M-37.9% |
| Current Assets | $25.1M-6.4% | $23.3M-23.7% | $24.2M-24.7% | $26.2M-26.8% | $26.9M-36.1% | $30.5M-32.8% | $32.1M-26.5% | $35.8M-18.2% |
| Cash & Equivalents | $11.9M-28.2% | $11.0M-37.9% | $13.7M-31.3% | $13.9M-31.6% | $16.6M-33.1% | $17.7M-24.6% | $20.0M-24.1% | $20.4M-22.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $4.1M-22.2% | $4.0M-12.0% | $3.4M-30.4% | $5.6M-11.7% | $5.2M+10.9% | $4.5M-19.6% | $4.9M-4.9% | $6.4M+27.6% |
| Accounts Receivable | $8.2M+161.6% | $7.2M+30.7% | $5.9M+21.4% | $4.0M-38.9% | $3.2M-69.6% | $5.5M-57.2% | $4.9M-45.1% | $6.6M-15.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $156K0.0% | N/A | $156K0.0% | $156K0.0% | $156K0.0% | $156K-78.7% | $156K-78.7% | $156K-95.0% |
| Total Liabilities | $12.2M+64.1% | $10.3M+6.1% | $10.0M+3.8% | $8.5M-25.1% | $7.4M-70.2% | $9.8M-71.2% | $9.7M-70.0% | $11.3M-65.7% |
| Current Liabilities | $11.0M+76.9% | $9.1M+7.9% | $9.1M+11.2% | $7.4M-23.9% | $6.2M-51.3% | $8.4M-47.2% | $8.2M-42.3% | $9.7M-34.1% |
| Non-Current Liabilities | $1.2M-1.0% | $1.3M-5.5% | $917K-37.6% | $1.1M-32.4% | $1.2M-90.0% | $1.3M-92.6% | $1.5M-91.9% | $1.6M-91.1% |
| Long-Term Debt | $1.0M-13.1% | $1.2M-10.3% | $1.3M-8.5% | $1.2M-24.8% | $1.2M-12.8% | $1.3M-8.2% | $1.4M-7.3% | $1.5M-5.8% |
| Total Equity | $16.4M-30.3% | $16.5M-35.0% | $17.3M-36.6% | $21.4M-4.6% | $23.5M-11.5% | $25.3M-18.9% | $27.3M-15.2% | $22.5M-32.3% |
| Retained Earnings | -$61.3M-17.7% | -$61.2M-21.6% | -$60.1M-24.2% | -$54.3M-18.1% | -$52.1M-24.8% | -$50.3M-38.1% | -$48.4M-38.4% | -$45.9M-38.2% |
NXPL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.1M+204.2% | -$2.6M-25.4% | -$302K+36.6% | -$2.7M+40.8% | -$1.0M-145.1% | -$2.1M+23.3% | -$476K-173.1% | -$4.6M-386.7% |
| Depreciation & Amortization | $80K-46.7% | $90K-54.1% | $64K+104.3% | $130K-72.8% | $150K-83.4% | $196K-78.4% | -$1.5M-264.9% | $478K-45.1% |
| Stock-Based Compensation | N/A | $300K-95.7% | N/A | N/A | N/A | $7.0M+1066.7% | N/A | N/A |
| Capital Expenditures | $0-100.0% | $0-100.0% | $37K+15.6% | $0-100.0% | $12K-80.0% | $22K-65.6% | -$32K-83.1% | $97K-72.7% |
| Free Cash Flow | $1.1M+203.0% | -$2.6M-24.1% | -$339K+33.3% | -$2.7M+42.0% | -$1.1M-146.9% | -$2.1M+24.3% | -$508K-210.0% | -$4.7M-261.4% |
| Investing Cash Flow | $0-100.0% | $0+100.0% | -$37K-232.1% | $102K | $120K+113.1% | -$22K+65.1% | $28K+114.8% | $0-100.0% |
| Financing Cash Flow | -$147K-15.7% | -$141K-5.2% | $133K+504.5% | -$97K-215.5% | -$127K-284.8% | -$134K-13300.0% | $22K+104.7% | $84K-52.5% |
| Share Buybacks | N/A | N/A | $0 | N/A | N/A | N/A | $0 | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
NXPL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.5%+17.7pp | 34.6%+14.1pp | 18.1%+1.3pp | 19.9%-3.3pp | 21.8%-12.7pp | 20.6%-7.2pp | 16.8%-14.8pp | 23.2%-6.8pp |
| Operating Margin | -1.1%+12.7pp | -11.2%+3.8pp | -23.1%-9.0pp | -14.5%+37.6pp | -13.8%+50.3pp | -15.0%-4.4pp | -14.1%+77.0pp | -52.0%-29.3pp |
| Net Margin | -1.2%+12.3pp | -11.3%+2.6pp | 44.1%-23.6pp | -15.9%+11.5pp | -13.5%+17.8pp | -14.0%-5.5pp | 67.7%+55.2pp | -27.4%-50.0pp |
| Return on Equity | -0.9%+6.7pp | -6.8%+0.9pp | 34.1%-6.1pp | -10.2%+8.6pp | -7.6%+12.4pp | -7.7%-2.9pp | 40.3%+33.8pp | -18.8%-29.2pp |
| Return on Assets | -0.5%+5.3pp | -4.2%+1.4pp | 21.5%-8.1pp | -7.3%+3.0pp | -5.8%+4.6pp | -5.5%-3.2pp | 29.6%+26.4pp | -10.3%-15.5pp |
| Current Ratio | 2.29-2.0x | 2.56-1.1x | 2.65-1.3x | 3.56-0.1x | 4.33+1.0x | 3.62+0.8x | 3.91+0.8x | 3.70+0.7x |
| Debt-to-Equity | 0.060.0x | 0.070.0x | 0.070.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.070.0x |
| Asset Turnover | 0.410.0x | 0.370.0x | 0.49+0.1x | 0.46+0.1x | 0.43+0.1x | 0.40+0.1x | 0.44+0.2x | 0.37+0.1x |
| FCF Margin | 9.1%+17.1pp | -26.2%-11.3pp | -2.5%+0.6pp | -19.8%+10.8pp | -8.0%-21.2pp | -14.9%+0.8pp | -3.1%-5.9pp | -30.6%-22.1pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| NextPlat Corp NXPL | FY2025 | $54.3M | -$10K | 0.0% | $24.4M | 40/100 |
| Lucas GC Limited LGCL | FY2025 | $149.0M | $1.4M | 0.9% | $1.1M | 41/100 |
| Amesite Inc AMST | FY2025 | $110K | -$3.6M | N/A | $6.7M | — |
| CXApp CXAI | FY2025 | $4.6M | N/A | N/A | $6.9M | 24/100 |
| HEARTCORE ENTERPRISES INC HTCR | FY2025 | $9.0M | $5.8M | 64.6% | $3.1M | 37/100 |
| Smith Micro Software Inc SMSI | FY2025 | $17.4M | -$30K | -0.2% | $15.7M | 39/100 |
Where NextPlat Corp Ranks
Frequently Asked Questions
What is NextPlat Corp's annual revenue?
NextPlat Corp (NXPL) reported $54.3M in total revenue for fiscal year 2025. This represents a -17.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is NextPlat Corp's revenue growing?
NextPlat Corp (NXPL) revenue declined by 17.8% year-over-year, from $66.1M to $54.3M in fiscal year 2025.
Is NextPlat Corp profitable?
No, NextPlat Corp (NXPL) reported a net income of -$10K in fiscal year 2025, with a net profit margin of 0.0%.
What is NextPlat Corp's EBITDA?
NextPlat Corp (NXPL) had EBITDA of -$8.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does NextPlat Corp have?
As of fiscal year 2025, NextPlat Corp (NXPL) had $13.7M in cash and equivalents against $1.3M in long-term debt.
What is NextPlat Corp's gross margin?
NextPlat Corp (NXPL) had a gross margin of 20.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is NextPlat Corp's operating margin?
NextPlat Corp (NXPL) had an operating margin of -16.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is NextPlat Corp's net profit margin?
NextPlat Corp (NXPL) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is NextPlat Corp's return on equity (ROE)?
NextPlat Corp (NXPL) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is NextPlat Corp's free cash flow?
NextPlat Corp (NXPL) recorded an outflow of $6.2M in free cash flow during fiscal year 2025. This represents a -9.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is NextPlat Corp's operating cash flow?
NextPlat Corp (NXPL) recorded an outflow of $6.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are NextPlat Corp's total assets?
NextPlat Corp (NXPL) had $27.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are NextPlat Corp's capital expenditures?
NextPlat Corp (NXPL) invested $71K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is NextPlat Corp's current ratio?
NextPlat Corp (NXPL) had a current ratio of 2.65 as of fiscal year 2025, which is generally considered healthy.
What is NextPlat Corp's debt-to-equity ratio?
NextPlat Corp (NXPL) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is NextPlat Corp's return on assets (ROA)?
NextPlat Corp (NXPL) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is NextPlat Corp's P/E ratio?
NextPlat Corp (NXPL) trades at 9.9x earnings, its market capitalization divided by net income of $2.5M net income, trailing 12 months to June 30, 2026. The market capitalization is $24.4M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is NextPlat Corp's price-to-sales ratio?
NextPlat Corp (NXPL) trades at 0.5x sales, its market capitalization divided by revenue of $48.9M revenue, trailing 12 months to June 30, 2026. The market capitalization is $24.4M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does NextPlat Corp's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, NextPlat Corp (NXPL) held $13.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $6.1M over that year. Dividing the one by the other, the reported balance equals about 27 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is NextPlat Corp's Altman Z-Score?
NextPlat Corp (NXPL) has an Altman Z-Score of -0.05, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is NextPlat Corp's Piotroski F-Score?
NextPlat Corp (NXPL) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are NextPlat Corp's earnings high quality?
NextPlat Corp (NXPL) reported a net loss of $10K while operations used $6.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can NextPlat Corp cover its interest payments?
NextPlat Corp (NXPL) reported an operating loss of $9.0M against $64K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is NextPlat Corp?
NextPlat Corp (NXPL) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.