Welcome to our dedicated page for NextPlat SEC filings (Ticker: NXPL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
NextPlat Corp filings document a public operating company with healthcare operations, e-commerce operations, common stock, and warrants. Its Form 8-K reports cover operating and financial results, preliminary business updates, Nasdaq listing compliance, amendments to corporate charter documents, and capital-structure matters such as reverse stock split mechanics and warrant or equity-plan adjustments.
Proxy statements and governance filings describe shareholder voting matters, board and executive compensation disclosures, equity awards, and related corporate-governance procedures. Other material-event filings address executive employment arrangements and disclosures tied to the company’s pharmacy services, healthcare data management, prescription fulfillment, and e-commerce communications products.
NextPlat Corp shared preliminary expectations for its first quarter 2026 results, pointing to a continuing turnaround driven mainly by contracted healthcare services. The company expects Q1 2026 gross margins to rise to 34+% and operating expenses to decline by 8+% from Q4 2025.
First quarter consolidated gross profit is expected to increase by about 40% versus Q4 2025 as the business shifts toward higher-margin contracted healthcare revenue. NextPlat also reports a record number of added 340B entities, supporting anticipated healthcare services revenue growth and margin expansion through 2026, and is targeting positive operating income in the third quarter.
NextPlat Corp has regained compliance with Nasdaq’s minimum bid price rules, removing a prior delisting risk. The company had previously been notified that its stock traded below $1.00 for 30 straight trading days, triggering a grace period to cure the deficiency.
Nasdaq later confirmed that, for the 10 consecutive business days from April 13, 2026 to April 24, 2026, NextPlat’s closing bid price was at or above $1.00 per share. As a result, Nasdaq issued a compliance letter on April 27, 2026, closed the matter, and NextPlat remains listed on The Nasdaq Capital Market under the ticker “NXPL”.
NextPlat Corp director Anthony Armas, through Apollo Two MSO, LLC, reported an indirect acquisition of Common Stock as a compensation-related grant. The entity received 12,162 shares of NextPlat Common Stock at a stated price of $0.00 per share, characterized as a grant or award.
Following this transaction, Apollo Two MSO, LLC’s indirect holdings associated with Armas increased to 113,316 shares of Common Stock. The filing reflects a non-market, award-type acquisition rather than an open-market purchase or sale.
NextPlat Corp director Rodney Barreto received a stock grant that increased his direct ownership. On April 6, 2026, he was awarded 24,324 shares of NextPlat common stock at no stated purchase price. After this grant, his direct holdings rose to 469,909 common shares, reflecting a routine compensation-related acquisition rather than an open-market purchase.
ELLENOFF DOUGLAS reported acquisition or exercise transactions in this Form 4 filing.
NextPlat Corp director Douglas Ellenoff received a grant of 24,324 shares of NextPlat common stock on April 6, 2026. The shares were awarded at no cash cost per share, reflecting equity compensation rather than an open‑market purchase. Following this award, Ellenoff directly owns 190,500 NextPlat common shares.
NextPlat Corp is implementing a 1-for-10 reverse stock split of its common stock, effective at 12:01 a.m. Eastern Time on April 13, 2026. Every 10 existing shares will be combined into 1 share, with par value staying at $0.0001.
The reverse split will reduce outstanding common shares from approximately 26.9 million to approximately 2.7 million, while authorized shares remain at 50 million. Stock options, warrants and equity plan reserves will be adjusted proportionately, increasing exercise prices and reducing underlying share amounts. No fractional shares will be issued; instead, holders will receive cash based on the Nasdaq closing price on the effective date.
NextPlat’s stock is expected to begin trading on a split-adjusted basis on April 13, 2026 under the symbol “NXPL” with a new CUSIP number. Historical per-share figures, including net loss per share, have been recast to reflect the new share count for 2025 and 2024.
NextPlat Corp reported full-year 2025 revenue of approximately $54.3 million, down 18% from about $66.1 million in 2024, as healthcare prescription volumes declined but e-commerce grew modestly. Healthcare revenue fell to $39.7 million from $52.3 million, driven by fewer prescriptions and lower 340B contract revenue, partly offset by higher reimbursement per script.
e-Commerce revenue increased to $14.6 million from $13.8 million on stronger airtime and hardware sales and favorable foreign exchange. Overall gross margin declined to about 20% from 26%, but total operating expenses were cut roughly in half to $19.9 million from $40.0 million, reflecting cost reductions and the absence of a prior-year impairment loss. Net loss attributable to common stockholders narrowed to approximately $11.7 million, or $0.44 per share, from $13.4 million, or $0.65 per share. The company ended 2025 with about $13.7 million in cash and roughly $15.0 million in working capital.
NextPlat Corp is a Nevada-based global e-commerce and healthcare services company operating two segments: e-Commerce Operations and Healthcare Operations. For the year ended December 31, 2025, approximately 27% of revenue came from e-Commerce and 73% from healthcare.
The e-Commerce segment sells satellite communications equipment and recurring airtime services through three proprietary websites, about 25 third-party storefronts and more than 10,000 product listings, reaching customers in over 165 countries. Amazon marketplaces represented approximately 31% of e-Commerce revenue in 2025.
The healthcare segment operates Progressive Care’s Pharmco pharmacies and ClearMetrX, providing retail and long-term care pharmacy services, 340B contract pharmacy services, data analytics and medication management in Florida and multiple other states. A Five Star EQuIPP performance score in 2025 highlights strong adherence metrics.
The company remains loss-making, with net losses of approximately $10.5 million in 2025 and $22.5 million in 2024 and an accumulated deficit of about $60.1 million as of December 31, 2025. As of March 27, 2026, there were 27,026,215 common shares outstanding, and non-affiliate equity was valued at about $11.2 million as of June 30, 2025.
NextPlat faces significant risks, including reliance on Amazon for e-commerce sales, dependence on McKesson for about 98% of pharmaceutical purchases in 2025, heavy use of the 340B Drug Pricing Program, and extensive healthcare and data privacy regulation. The company has received Nasdaq notices for failing to meet the $1.00 minimum bid price and pursued a 1-for-10 reverse stock split approved on March 27, 2026 to regain compliance and avoid potential delisting.
NextPlat Corp is implementing a 1-for-10 reverse stock split of its common stock to address Nasdaq’s minimum bid price requirement. At 12:01 a.m. Eastern Time on April 6, 2026, every 10 shares will be combined into one share, reducing outstanding common shares from 27,026,215 to approximately 2,702,621, with cash paid for fractional shares. Stockholders approved the reverse split at a special meeting where 15,510,728 shares voted, representing about 57.5% of the 26,976,215 shares outstanding as of March 16, 2026, and the proposals received strong support. The split affects all holders uniformly, keeps authorized share counts unchanged, and proportionately adjusts equity incentive plans and outstanding options and warrants.
NextPlat Corp is calling a virtual special meeting on March 27, 2026 to ask stockholders to approve a reverse stock split and a possible adjournment of the meeting. Holders of 26,976,215 shares outstanding as of March 2, 2026 are entitled to vote.
The board is seeking authority, at its discretion, to combine between five and fifty existing shares into one new share, with an aggregate maximum of 1-for-50, without changing the 50,000,000 authorized common shares or the $0.0001 par value. The stated goal is to lift the share price to regain compliance with Nasdaq’s $1.00 minimum bid requirement and preserve exchange listing and related financing flexibility.
The proxy explains that failure to approve the reverse split and restore the bid price above $1.00 for at least ten consecutive trading days before April 27, 2026 could trigger Nasdaq delisting, reduced liquidity, loss of Form S-3 shelf eligibility and more difficult access to capital. It also details potential risks of volatility, reduced liquidity, more odd-lot holdings and possible declines in market capitalization even if the split is implemented.