NextPlat Corp 2025年季度报告

For the quarterly period endedMarch 31, 2025 OR TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ______________to _______________. NEXTPLAT CORP (Exact name of registrant as specified in its charter) Nevada(State or other jurisdiction ofincorporation or organization)3250 Mary St., Suite 410,Coconut Grove,FL (Address of principal executive offices)(305)-560-5381 Registrant’s telephone number, including area code If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ PART I.FINANCIAL INFORMATIONITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)CONDENSED CONSOLIDATED BALANCE SHEETSCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSSCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONSITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKITEM 4. CONTROLS AND PROCEDURES ITEM 1. LEGAL PROCEEDINGS ITEM 1A. RISK FACTORSITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDSITEM 3. DEFAULTS UPON SENIOR SECURITIESITEM 4. MINE SAFETY DISCLOSURESITEM 5. OTHER INFORMATIONITEM 6. EXHIBITS including forward-looking information concerning sales trends, gross margins, number and location of new store openings,outcomes of litigation, the level of capital expenditures, industry trends, demographic trends, growth strategies, financial results,cost reduction initiatives, acquisition synergies, regulatory approvals, and competitive strengths. Words such as “expect,” of 1995. These forward-looking statements are not guarantees of future performance and involve risks, assumptions anduncertainties, including, but not limited to, those described in our Annual Report on Form 10-K for the year ended December 31,2024 filed with the SECon March 24, 2025 (“2024 Form 10-K”), this quarterly report on Form 10-Q for the three months ended Property and equipment, net3,267 Foreign currency exchange rate variance (Unaudited)Three Months Ended March 31, Cash received from e-Commerce Operations revenue$3,529$Cash received from Healthcare Operations revenue10,297Cash received from interest income108 Cash received from other sources61Cash paid for inventory purchases and other costs of revenue(11,024)Cash paid for salaries and related expenses(2,715) Cash paid for other non-recurring expenses(267)Cash paid for interest expense(18)Cash paid for income taxes— CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment(22)Proceeds from sale or disposal of property and equipment—Net cash used in investing activities(22)CASH FLOWS FROM FINANCING ACTIVITIES:Repayments of notes payable(129) Capital contribution of non-controlling interest—Net cash used in financing activities(134)Effect of exchange rate on cash(8)Net decrease in cash(2,223)Cash beginning of period19,960 Adjustments to reconcile net loss to net cash used in operating activities: Amortization of intangible assets26Amortization of operating right-of-use assets98Amortization of finance right-of-use assets5Impairment loss— Change in operating assets and liabilities:Accounts receivable(1,540)Inventories386 Prepaid expense6Notes receivable—VAT receivable55 Operating lease liabilitiesIncome taxes payable Note1.Organization andNature of OperationsNextPlat is a Nevada corporation (the “Company”, “NextPlat”, “we”) reporting on the NASDAQ exchange that hasbusiness segments operating in the e-Commerce and Healthcare sectors. It was incorporated in1997with executive offices located e-Commerce Operations: The Company operatestwomain e-commerce websites as well as25third-party e-commerce storefronts on platformssuch as Alibaba, Amazon and Walmart. These e-commerce venues form an effective global network serving thousands ofconsumers, enterprises, and governments.Additionally, we provide a comprehensive array of Satellite Industry communicationservices and related equipment sales.Our wholly owned subsidiary, Global Telesat Communications Limited (“GTC”), was formed under the laws of England services in the U.S. and PharmcoRx1204(“FPRX” or “Pharmco1103”and “Pharmco1204”) (pharmacy subsidiaries collectively referred to as“Pharmco”). ClearMetrX Inc. (“ClearMetrX”) is a personalized healthcare services and technology company that provides Community Pharmacy Permits at all Florida pharmacy location. Pharmco901is a pharmacy located in Hallandale Beach, Florida,and is licensed as a non-resident pharmacy in the following states: Arizona, Colorado, Connecticut, Georgia, Illinois, Minnesota,Nevada, New Jersey, New York, Pennsylvania, Texas, and Utah. Pharmco901isable to dispense to patients in the state