NextPlat Corp 2025年季度报告

Washington, D.C. 20549 FORM10-Q OR NEXTPLAT CORP FORM 10-Q INDEX PART I.FINANCIAL INFORMATION CONDENSED CONSOLIDATED BALANCE SHEETS2CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS3CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY4CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS5NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS6 PART II. OTHER INFORMATION ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS35 ITEM 4. MINE SAFETY DISCLOSURES35 ITEM 5. OTHER INFORMATION35 ITEM 6. EXHIBITS36 SIGNATURES37 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This quarterly report and other documents that we file with the Securities and Exchange Commission (“SEC”) contain forward-looking statements that are based on current expectations, estimates, forecasts and projections about our future performance, ourbusiness, our beliefs and our management’s assumptions. Statements that are not historical facts are forward-looking statements,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,”“outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “sustain,”“on track,”“believe,” “seek,”“estimate,” “anticipate,” “may,” “assume,” and variations of such words and similar expressions are often used to identify suchforward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Actof 1995. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and PART I. FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Theaccompanying Unaudited Condensed Consolidated Financial Statements of NextPlat Corp(“NextPlat,”the“Company,” “we,” or “our”), for thethree months ended March 31, 2025 and for comparable periods in the prior year are included NEXTPLAT CORP AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS Total Liabilities and Equity See accompanying notes to unaudited condensed consolidated financial statements. NEXTPLAT CORP AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS NEXTPLAT CORP AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CHANGES INEQUITY Table of Contents NEXTPLAT CORP AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Unless the context requires otherwise, references to the “Company”, “we”, “us”, “our”, “our Company”, or “ourbusiness” refer to NextPlat Corp and its subsidiaries. Note1.Organization andNature of Operations NextPlat 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 of Our wholly owned subsidiary, Global Telesat Communications Limited (“GTC”), was formed under the laws of Englandand Wales in2008.GTC provides e-Commerce and Satellite Industry services on a global basis. Our wholly owned subsidiary, Orbital Satcom Corp. (“Orbital Satcom”), a Nevada corporation, was formed onNovember14, 2014.Orbital Satcom provides e-Commerce and Satellite Industry services to customers in the U.S. OnApril 1, 2024,NextPlat acquired100%of the ownership interest of OutfitterSatellite, Inc., a Tennessee corporation(“Outfitter”) in a stock purchase transaction. The Outfitter acquisition was completed to expand the Company’s Satellite Industry Healthcare Operations: The Company’s Healthcare segment operates through a wholly owned entity, Progressive Care, LLC., (“Progressive”) aNevada Limited Liability Company, which includes wholly owned subsidiaries , Pharmco, LLC (“Pharmco901”), Touchpoint RX,LLC doing business as Pharmco Rx1002,LLC (“Pharmco1002”), Family Physicians RX, Inc. doing business as PharmcoRx1103and 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 Progressive, through its wholly owned subsidiaries, currently delivers prescriptions to Florida’s diverse population andships medications to patients in states where they hold non-resident pharmacy licenses as well. Progressive currently holds FloridaCommunity Pharmacy Permits at all Florida pharmacy location. Pharmco901is a pharmacy located in Hallandale Beach, Florida,and