NextPlat Warrants (NXPLW) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NXPLW SEC filings page.
NextPlat Corp Warrants (NXPLW) reported $50.3M in revenue over the twelve months to Mar 31, 2026, down 19.6% 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).
The business remains unprofitable because shrinking gross profit is not covering operating costs, despite sharply reduced capital spending.
From FY2024 to FY2025, revenue fell17.8% while gross profit fell35.9% , showing costs absorbed more of each sales dollar as volume contracted. Operating cash flow of-$6.13M nearly matched free cash flow of-$6.20M , indicating cash use was driven mainly by operations rather than heavy reinvestment.
The near-zero net loss of
Liabilities reached
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. 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 Warrants'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 Warrants 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 Warrants scores 56/100 among other emerging companies.
NextPlat Corp Warrants had 3M shares outstanding at the end of fiscal year 2025. 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 Warrants scores 96/100 among other emerging companies.
Not available for NextPlat Corp Warrants, so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
NextPlat Corp Warrants 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 Warrants scores 64/100 among other emerging companies.
NextPlat Corp Warrants'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 Warrants scores 26/100 among other emerging companies.
NextPlat Corp Warrants'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 Warrants scores 68/100 among other emerging companies.
NextPlat Corp Warrants passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
NextPlat Corp Warrants 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 Warrants 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 Warrants generated $9.9M in revenue in Q1 2026. This represents a decrease of 29.2% from the same quarter a year earlier. Against the prior quarter it is down 26.5%.
NextPlat Corp Warrants's EBITDA was -$1.0M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
NextPlat Corp Warrants reported a net loss of $1.1M in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 118.9%.
Not reported for Q1 2026.
Cash & Balance Sheet
NextPlat Corp Warrants recorded an outflow of $2.6M in free cash flow in Q1 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
NextPlat Corp Warrants held $11.0M in cash against $1.2M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
NextPlat Corp Warrants's gross margin was 34.6% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 14.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 16.5 percentage points.
NextPlat Corp Warrants's operating margin was -11.2% in Q1 2026, reflecting core business profitability. This is up 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.9 percentage points.
NextPlat Corp Warrants's net profit margin was -11.3% in Q1 2026, showing the share of revenue converted to profit. This is up 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 55.4 percentage points.
NextPlat Corp Warrants's quarterly ROE was -6.8% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is up 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 40.9 percentage points.
Capital Allocation
NextPlat Corp Warrants reported no capital expenditure in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.
Not reported for Q1 2026.
Not reported for Q1 2026.
NXPLW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25 | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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% | $17.0M+474.5% |
| Cost of Revenue | $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% | $11.1M+426.8% |
| Gross Profit | $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% | $5.9M+594.1% |
| SG&A Expenses | $2.0M-1.5% | $1.0M-30.7% | $1.5M-12.6% | $1.5M-8.1% | $2.0M+48.5% | $1.5M-38.9% | $1.7M-58.7% | $1.6M-36.4% |
| Operating Income | -$1.1Mn/m | -$3.1Mn/m | -$2.0Mn/m | -$1.8Mn/m | -$2.1Mn/m | -$2.3Mn/m | -$8.0Mn/m | -$10.9Mn/m |
| EBITDA | -$1.0Mn/m | -$3.0Mn/m | -$1.9Mn/m | -$1.7Mn/m | -$1.9Mn/m | -$3.8Mn/m | -$7.5Mn/m | -$10.0Mn/m |
| Interest Expense | N/A | $17K-10.5% | $14K-36.4% | $15K-21.1% | $18K-14.3% | $19K-19.1% | $22K-52.1% | $19K+315.8% |
| Income Tax | $0-100.0% | -$14Kn/m | -$26K-157.8% | $31K+55.0% | $9K-66.7% | -$21Kn/m | $45K+95.7% | $20K-61.5% |
| Net Income | -$1.1Mn/m | $5.9M-46.2% | -$2.2Mn/m | -$1.8Mn/m | -$1.9Mn/m | $11.0M+431.3% | -$4.2M-222.3% | -$5.3Mn/m |
| EPS (Basic) | -$0.42n/m | N/A | -$0.08n/m | -$0.07n/m | -$0.75 | N/A | -$0.22-222.2% | -$0.28n/m |
| EPS (Diluted) | N/A | N/A | N/A | N/A | -$0.05 | N/A | -$0.22-229.4% | N/A |
| Diluted Shares (Avg) | 3M+3.7% | N/A | 26M+36.9% | 26M+37.9% | 3M | N/A | 19M-6.5% | 19M+4.2% |
Not reported in any period shown, so not listed: R&D Expenses.
NXPLW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25 | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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% | $51.5M+66.5% |
| Current Assets | $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% | $42.0M+73.6% |
| Cash & Equivalents | $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% | $24.9M+20.7% |
| Inventory | $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% | $4.7M+127.5% |
| Accounts Receivable | $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% | $10.4M+1660.1% |
| Goodwill | N/A | $156K0.0% | $156K0.0% | $156K0.0% | $156K-78.7% | $156K-78.7% | $156K-95.0% | $156K |
| Total Liabilities | $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% | $24.9M+900.8% |
| Current Liabilities | $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% | $12.8M+611.5% |
| Non-Current Liabilities | $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% | $12.2M+1642.9% |
| Long-Term Debt | $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% | $1.3M |
| Total Equity | $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% | $26.5M-6.6% |
| Retained Earnings | -$61.2Mn/m | -$60.1Mn/m | -$54.3Mn/m | -$52.1Mn/m | -$50.3Mn/m | -$48.4Mn/m | -$45.9Mn/m | -$41.7Mn/m |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
NXPLW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25 | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.6Mn/m | -$302Kn/m | -$2.7Mn/m | -$1.0M-145.1% | -$2.1Mn/m | -$476K-173.1% | -$4.6Mn/m | $2.3Mn/m |
| Depreciation & Amortization | $90K-54.1% | $64K-69.7% | $130K-72.8% | $150K-83.4% | $196K-78.4% | $211K-76.8% | $478K-45.1% | $903K+437.5% |
| Stock-Based Compensation | $300K-95.7% | N/A | N/A | N/A | $7.0M+1066.7% | N/A | N/A | N/A |
| Capital Expenditures | $0-100.0% | $37K | $0-100.0% | $12K-80.0% | $22K-65.6% | N/A | $97K-72.7% | $60K+76.5% |
| Free Cash Flow | -$2.6Mn/m | -$339K | -$2.7Mn/m | -$1.1M-146.9% | -$2.1Mn/m | N/A | -$4.7Mn/m | $2.2Mn/m |
| Investing Cash Flow | $0n/m | -$37K-232.1% | $102Kn/m | $120Kn/m | -$22Kn/m | $28Kn/m | $0-100.0% | -$918Kn/m |
| Financing Cash Flow | -$141Kn/m | $133K+504.5% | -$97K-215.5% | -$127Kn/m | -$134Kn/m | $22Kn/m | $84K-52.5% | -$33K-100.5% |
| Share Buybacks | N/A | $0n/m | N/A | N/A | N/A | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
NXPLW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25 | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 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 | 34.5%+5.9pp |
| Operating Margin | -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 | -64.1% |
| Net Margin | -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 | -31.3% |
| Return on Equity | -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 | -20.0%-4.7pp |
| Return on Assets | -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 | -10.3%+3.7pp |
| Current Ratio | 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 | 3.30-10.2x |
| Debt-to-Equity | 0.070.0x | 0.070.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.070.0x | 0.05 |
| Liabilities-to-Equity | 0.63+0.2x | 0.58+0.2x | 0.40-0.1x | 0.32-0.6x | 0.38-0.7x | 0.35-0.6x | 0.50-0.5x | 0.94+0.9x |
| Asset Turnover | 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 | 0.33+0.2x |
| FCF Margin | -26.2%-11.3pp | -2.5% | -19.8%+10.8pp | -8.0%-21.2pp | -14.9%+0.8pp | N/A | -30.6%-22.1pp | 13.2%+56.1pp |
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| NextPlat Corp Warrants NXPLW | FY2025 | $54.3M | -$10K | 0.0% | N/A | 62/100 |
| Henry Schein Inc HSIC | FY2025 | $13.2B | $398.0M | 3.0% | $9.2B | 46/100 |
| IBEX Limited IBEX | FY2026 | $644.1M | $46.3M | 7.2% | $592.6M | 70/100 |
| Embecta Corp. EMBC | FY2025 | $1.1B | $95.4M | 8.8% | $344.5M | 57/100 |
| Surf Air Mobility Inc. SRFM | FY2025 | $106.6M | -$110.6M | N/A | $98.6M | 37/100 |
| Orion Energy Systems, Inc. OESX | FY2026 | $86.3M | -$3.2M | -3.7% | $85.0M | 44/100 |
Where NextPlat Corp Warrants Ranks
Frequently Asked Questions
NextPlat Corp Warrants (NXPLW) 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.
NextPlat Corp Warrants (NXPLW) revenue declined by 17.8% year-over-year, from $66.1M to $54.3M in fiscal year 2025.
Yes, NextPlat Corp Warrants (NXPLW) reported a net income of $814K over the trailing 12 months to March 31, 2026. In fiscal year 2025 it reported a net loss of $10K, with a net profit margin of 0.0%.
NextPlat Corp Warrants (NXPLW) had EBITDA of -$8.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, NextPlat Corp Warrants (NXPLW) had $13.7M in cash and equivalents against $1.3M in long-term debt.
NextPlat Corp Warrants (NXPLW) had a gross margin of 20.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
NextPlat Corp Warrants (NXPLW) had an operating margin of -16.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
NextPlat Corp Warrants (NXPLW) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
NextPlat Corp Warrants (NXPLW) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
NextPlat Corp Warrants (NXPLW) recorded an outflow of $6.2M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
NextPlat Corp Warrants (NXPLW) recorded an outflow of $6.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
NextPlat Corp Warrants (NXPLW) had $27.5M in total assets as of fiscal year 2025, including both current and long-term assets.
NextPlat Corp Warrants (NXPLW) invested $71K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
NextPlat Corp Warrants (NXPLW) had a current ratio of 2.65 as of fiscal year 2025, which is generally considered healthy.
NextPlat Corp Warrants (NXPLW) had a debt-to-equity ratio of 0.07 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
NextPlat Corp Warrants (NXPLW) had a liabilities-to-equity ratio of 0.58 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
NextPlat Corp Warrants (NXPLW) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
At the end of fiscal year 2025, NextPlat Corp Warrants (NXPLW) 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.
NextPlat Corp Warrants (NXPLW) has a Piotroski F-Score of 3 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.
NextPlat Corp Warrants (NXPLW) 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.
NextPlat Corp Warrants (NXPLW) 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.
NextPlat Corp Warrants (NXPLW) scores 62 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average 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. For NextPlat Corp Warrants it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.