NextPlat's Global Telesat Receives Connectivity Services Contract Extension from Military Customer
NextPlat Corp (NASDAQ: NXPL) announced that its subsidiary, Global Telesat Communications (GTC), has secured a one-year extension for a wireless connectivity services contract from an African military customer. The contract, initially awarded in Q1 2024, includes Iridium Push-To-Talk (PTT) device hardware and airtime services, with options for additional future purchases.
The extension represents a continuation of what was previously the largest contract of its type in the company's history. The hardware and airtime services sales under this contract are not affected by recent US tariffs. The Iridium Extreme® PTT devices provide instant, secure, and reliable global communication, particularly valuable for government, military, and enterprise customers operating in challenging environments.
NextPlat Corp (NASDAQ: NXPL) ha annunciato che la sua filiale, Global Telesat Communications (GTC), ha ottenuto un'estensione di un anno per un contratto di servizi di connettività wireless da un cliente militare africano. Il contratto, inizialmente assegnato nel primo trimestre del 2024, include hardware del dispositivo Iridium Push-To-Talk (PTT) e servizi di airtime, con opzioni per acquisti futuri aggiuntivi.
L'estensione rappresenta una continuazione di quello che era precedentemente il contratto più grande del suo genere nella storia dell'azienda. Le vendite di hardware e servizi di airtime sotto questo contratto non sono influenzate dai recenti dazi statunitensi. I dispositivi Iridium Extreme® PTT forniscono comunicazione globale istantanea, sicura e affidabile, particolarmente preziosa per clienti governativi, militari ed aziendali che operano in ambienti difficili.
NextPlat Corp (NASDAQ: NXPL) anunció que su subsidiaria, Global Telesat Communications (GTC), ha asegurado una extensión de un año para un contrato de servicios de conectividad inalámbrica de un cliente militar africano. El contrato, otorgado inicialmente en el primer trimestre de 2024, incluye hardware del dispositivo Iridium Push-To-Talk (PTT) y servicios de tiempo de aire, con opciones para compras futuras adicionales.
La extensión representa una continuación de lo que anteriormente era el contrato más grande de su tipo en la historia de la empresa. Las ventas de hardware y servicios de tiempo de aire bajo este contrato no se ven afectadas por los recientes aranceles de EE. UU. Los dispositivos Iridium Extreme® PTT proporcionan comunicación global instantánea, segura y fiable, especialmente valiosa para clientes gubernamentales, militares y empresariales que operan en entornos desafiantes.
NextPlat Corp (NASDAQ: NXPL)은 자회사인 Global Telesat Communications (GTC)가 아프리카 군 고객으로부터 무선 연결 서비스 계약의 1년 연장을 확보했다고 발표했습니다. 이 계약은 2024년 1분기에 처음 체결되었으며, Iridium Push-To-Talk (PTT) 장치 하드웨어 및 에어타임 서비스가 포함되어 있으며, 추가 구매 옵션이 있습니다.
이번 연장은 회사 역사상 가장 큰 유형의 계약을 지속하는 것을 의미합니다. 이 계약에 따른 하드웨어 및 에어타임 서비스 판매는 최근 미국 관세의 영향을 받지 않습니다. Iridium Extreme® PTT 장치는 즉각적이고 안전하며 신뢰할 수 있는 글로벌 통신을 제공하며, 특히 어려운 환경에서 운영되는 정부, 군 및 기업 고객에게 매우 가치가 있습니다.
NextPlat Corp (NASDAQ: NXPL) a annoncé que sa filiale, Global Telesat Communications (GTC), a obtenu une prolongation d'un an pour un contrat de services de connectivité sans fil d'un client militaire africain. Le contrat, initialement attribué au premier trimestre 2024, comprend le matériel de l'appareil Iridium Push-To-Talk (PTT) et des services de temps d'antenne, avec des options pour des achats futurs supplémentaires.
Cette prolongation représente la poursuite de ce qui était auparavant le plus grand contrat de ce type dans l'histoire de l'entreprise. Les ventes de matériel et de services de temps d'antenne dans le cadre de ce contrat ne sont pas affectées par les récents tarifs américains. Les appareils Iridium Extreme® PTT offrent une communication mondiale instantanée, sécurisée et fiable, particulièrement précieuse pour les clients gouvernementaux, militaires et d'entreprise opérant dans des environnements difficiles.
NextPlat Corp (NASDAQ: NXPL) gab bekannt, dass ihre Tochtergesellschaft, Global Telesat Communications (GTC), eine einjährige Verlängerung für einen Vertrag über drahtlose Konnektivitätsdienste von einem afrikanischen Militärkunden gesichert hat. Der Vertrag, der ursprünglich im ersten Quartal 2024 vergeben wurde, umfasst Hardware für das Iridium Push-To-Talk (PTT) Gerät sowie Airtime-Dienste, mit Optionen für zukünftige zusätzliche Käufe.
Die Verlängerung stellt eine Fortsetzung dessen dar, was zuvor der größte Vertrag seiner Art in der Geschichte des Unternehmens war. Die Verkäufe von Hardware und Airtime-Diensten im Rahmen dieses Vertrags sind von den jüngsten US-Zöllen nicht betroffen. Die Iridium Extreme® PTT-Geräte bieten sofortige, sichere und zuverlässige globale Kommunikation, die besonders wertvoll für Regierungs-, Militär- und Unternehmenskunden ist, die in herausfordernden Umgebungen tätig sind.
- Contract extension represents continuation of company's historically largest contract of its type
- High-margin recurring airtime services contribute to revenue growth through 2025
- Contract includes options for additional future hardware purchases
- Sales under this contract are exempt from recent US tariffs
- None.
Insights
The contract extension secured by NextPlat's subsidiary represents a meaningful positive development for this micro-cap company with its
The dual-component nature of this contract is particularly noteworthy. It includes both hardware sales (Iridium PTT devices) and high-margin recurring airtime services - the latter being especially valuable as it creates predictable revenue streams. For investors, recurring revenue models typically command higher valuation multiples due to their predictability and stickiness.
Military contracts, while demanding in performance requirements, typically offer strong customer retention once established. The inclusion of options for additional hardware purchases creates potential upside beyond the base agreement. The exemption from recently imposed US tariffs removes what could have been a margin-compressing factor.
While specific financial figures aren't disclosed, this extension likely represents material revenue contribution given the company's size. For context, securing and maintaining government/military clients also provides validation of NextPlat's service reliability in mission-critical communication scenarios, potentially opening doors to additional contracts in similar sectors.
Contract Renewal for Hardware and High Margin Recurring Airtime Services Expected to Contribute to Continued Growth in Connectivity Services Revenue Throughout 2025
The original contract for Iridium Push-To-Talk (PTT) device hardware and related airtime services from this military customer was awarded to GTC in the first quarter of 2024 and at that time, represented the largest contract of its type received by the company in its history. The extension contract includes options for additional future hardware purchases and annual airtime services. All hardware and airtime services sales under this contract are not subject to any recently imposed US tariffs.
Increasingly popular with government, military and enterprise customers, the Iridium Extreme® PTT devices provide instant, secure, and reliable communication anywhere in the world, making them an essential tool for multi-national operations, emergency response, and remote fieldwork. Designed for use in the most challenging environments, the devices offer global coverage, rugged durability, and advanced push-to-talk capabilities, enabling teams to stay connected at the push of a button.
"The renewal of this significant hardware and connectivity services contract is further evidence of value and growing international interest in Iridium PTT devices we are seeing from a diverse range of government and enterprise organizations. We are honored that this customer has chosen us to continuing supporting their connectivity needs and we look forward to further building upon the trust they have placed in us to keep their personnel connected," said David Phipps, President of NextPlat and CEO of Global Operations, and Managing Director of Global Telesat Communications.
For more information about NextPlat, please visit www.NextPlat.com and connect with us on Facebook, LinkedIn and X.
About NextPlat Corp
NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the Company intends 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
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, 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
mike@mwgco.net
View original content to download multimedia:https://www.prnewswire.com/news-releases/nextplats-global-telesat-receives-connectivity-services-contract-extension-from-military-customer-302427159.html
SOURCE NextPlat Corp.
FAQ
What is the duration of NextPlat's (NXPL) new contract extension with the African military customer?
What type of services and products are included in NXPL's military contract extension?
When was the original contract between NXPL and the African military customer established?
Are NXPL's hardware and airtime services affected by recent US tariffs?
