NextPlat SEC Filings

NextPlat Corp filed an amended registration statement and preliminary prospectus to register for resale up to 2,097,011 shares of Common Stock by existing selling securityholders. The resale shares were acquired in private placements from 2019–2023 and the company will not receive proceeds from these resales. The filing notes a 1-for-10 reverse stock split effective April 13, 2026, which reduced outstanding shares to approximately 2,708,507 shares as of June 1, 2026. The prospectus discloses recent net losses of $10.5 million for 2025 and $22.5 million for 2024 and warns that the number of shares being registered for resale is significant relative to outstanding shares and could depress the market price while the registration statement remains effective.

NextPlat Corp voluntarily withdrew the registration and Nasdaq removed the class of warrants from listing on the Nasdaq Stock Market LLC. The Exchange certified compliance with 17 CFR 240.12d2-2 and the issuer certified it complied with the Exchange's rules governing voluntary withdrawal.

NextPlat Corp reported a smaller loss but lower revenue for the quarter ended March 31, 2026. Revenue fell to $9.9 million from $13.9 million, driven by a sharp decline in healthcare prescription revenue, partly offset by modest e‑Commerce growth.

Gross margin improved to about 35% from 21%, helped by higher‑margin pharmacy contract revenue and better drug pricing, reducing net loss to $1.1 million versus $1.9 million a year earlier. Cash was $11.0 million with working capital of about $14.2 million, and the company established a new at‑the‑market equity program of up to $3.7 million. Management notes past recurring losses raised substantial doubt about continuing as a going concern but believes current plans and liquidity mitigate this. The quarter also reflects an accrued litigation reserve of $1.75 million and ongoing material weaknesses in internal controls that remain under remediation.

NextPlat Corp reported first quarter 2026 revenue of about $9.9 million, down from roughly $13.9 million a year earlier, mainly from lower healthcare revenue. Despite this, profitability improved as consolidated gross margin reached a quarterly record of about 35%, up from roughly 21%.

Healthcare pharmacy prescription revenue fell to about $4.8 million from $9.5 million, while pharmacy contract revenue rose to about $1.9 million from $1.4 million and e-commerce revenue edged up to about $3.2 million from $3.0 million. Total operating expenses declined about 9% to roughly $4.5 million.

Net loss attributable to common stockholders narrowed to about $1.1 million, or ($0.42) per share, compared with about $1.9 million, or ($0.75) per share, in the prior-year quarter. NextPlat ended March 31, 2026 with roughly $11.0 million in cash, about $14.2 million of working capital and total liabilities of approximately $10.3 million, and management targets positive operating income in the latter half of 2026.

NextPlat Corp is registering an at-the-market offering to sell up to $3,738,706 of common stock through H.C. Wainwright & Co. under a Sales Agreement dated May 13, 2026. Sales may occur on Nasdaq or through other permitted methods and Wainwright will be paid a 3.0% commission on gross sales.

As of the prospectus, NextPlat reported 2,708,507 shares outstanding and a public float of $11,216,119 based on 1,568,688 shares held by non-affiliates. The prospectus illustrates an example sale of 522,896 shares at $7.15 per share producing illustrative aggregate proceeds of $3,738,706, and shows up to 3,231,403 shares outstanding after that illustrative sale.

NextPlat Corp filed a registration statement to register for resale up to 2,647,674 shares of its common stock by selling securityholders. These shares were acquired in private placements between 2019 and 2023 and the company will receive no proceeds from resale by the selling holders.

The filing follows a 1-for-10 reverse stock split effective April 13, 2026, which reduced the number of shares outstanding to approximately 2.7 million. The company’s common stock trades on The Nasdaq Capital Market under the symbol NXPL.

NextPlat Corp is holding a virtual 2026 Annual Meeting of Stockholders on June 24, 2026 at 10:00 a.m. Eastern Daylight Time as a listen-only conference call and webcast. Holders of 2,708,507 shares of common stock as of April 27, 2026 may vote.

Stockholders will elect six directors, ratify RBSM LLP as independent auditor for 2026, approve on an advisory basis executive compensation, and authorize potential adjournment to solicit more proxies. The Board recommends voting “FOR” all director nominees and each proposal.

The Board has six members, four deemed independent under Nasdaq rules, with separate Audit, Compensation and Nominating Committees. Pay disclosures show 2025 total compensation of $652,980 for CEO David Phipps and $265,750 for CFO Amanda Ferrio, along with equity incentive plans and detailed severance terms.

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.