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NextPlat Corp - NXPL STOCK NEWS

Welcome to our dedicated page for NextPlat news (Ticker: NXPL), a resource for investors and traders seeking the latest updates and insights on NextPlat stock.

NextPlat Corp (NASDAQ: NXPL) is a global leader in the e-commerce and healthcare sectors. The company operates through two primary segments: e-Commerce Business and Healthcare Business. NextPlat's e-commerce platform serves a broad array of customers, including individual consumers, enterprises, and government entities worldwide. Recently, the company announced the acquisition of Outfitter Satellite Inc., a move expected to significantly enhance its North American e-commerce operations.

In the healthcare sector, NextPlat focuses on improving patient outcomes for complex chronic diseases. Through its subsidiary, Progressive Care Inc. (OTCQB: RXMD), the company offers extensive healthcare solutions, including pharmacy services, patient and provider engagement, and partnerships with payors and pharmaceutical manufacturers. Progressive Care recently reported record annual revenues of approximately $49.7 million for 2023, reflecting a strong growth trajectory.

NextPlat's strategic plan includes expanding its global footprint by integrating acquired businesses onto its comprehensive e-commerce platform. The company also aims to penetrate high-growth markets in technology and healthcare. Notably, NextPlat has formed a strategic partnership with Alibaba to launch an e-commerce development program, opening new avenues in the Chinese market for healthcare products such as OPKO's vitamins and dietary supplements.

Financially, NextPlat and its subsidiary Progressive Care continue to show robust performance. In the first quarter of 2024, NextPlat reported record revenues, driven by its diversified business model and strategic acquisitions. The company's innovative approach in combining e-commerce with healthcare services positions it well for sustained long-term growth.

For more information, visit www.NextPlat.com and follow them on social media platforms.

News

Progressive Care Inc. Announces Record Full Year 2023 Results with Revenues of $49.7 Million, an Increase of 22% with Annual Gross Margins of 30%

Rhea-AI Summary
Progressive Care Inc. (RXMD) reports record annual revenues of $49.7 million for 2023, a 22% increase from 2022, driven by a 17% rise in pharmacy prescription revenue and a 136% growth in 340B contract services revenue. The company's gross profit margin increased to 30% in 2023. Despite a non-cash goodwill impairment charge of $13.9 million, the cash balance as of December 31, 2023, was approximately $7.9 million, up from $6.7 million in 2022.
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NextPlat Expands North American Technology E-Commerce Business with Acquisition of Outfitter Satellite Inc.

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NextPlat Corp announces the acquisition of Outfitter Satellite Inc. to double North American technology e-commerce sales and recurring revenue. The all-cash transaction aims to enhance profitability, expand product offerings, and enter international markets.
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NextPlat Expands North American Technology E-Commerce Business with Acquisition of Outfitter Satellite Inc.

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NextPlat Corp acquires Outfitter Satellite Inc. to more than double North American technology e-commerce product sales and recurring revenue. The all-cash transaction is expected to close on April 1, 2024, expanding NextPlat's offerings and driving increased profitability.
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Progressive Care's PharmcoRx Pharmacies Expands Medicare Advantage Over-the-Counter Benefits Acceptance Program Through New Agreement with ProHealth Connect

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Progressive Care Inc. (RXMD) expands PharmcoRx's patient access to supplemental health insurance benefits for in-pharmacy purchase of OTC products. PharmcoRx announced an agreement with ProHealth Connect LLC to extend OTC benefits to qualifying members nationwide, including those with Medicare Advantage plans. The partnership allows members of leading MA plans such as United HealthCare, Humana, Devoted, Sharecare, and others to purchase OTC healthcare products and medicines using their plan benefits at all PharmcoRx pharmacies. CMS estimates a rise in MA enrollment from 31.6 million in 2023 to 33.8 million in 2024.
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PharmcoRx Pharmacy Launches Mark Cuban Cost Plus Drug Program Expanding Its In-Pharmacy Offerings

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PharmcoRx Pharmacy, a subsidiary of Progressive Care Inc (RXMD), expands in-pharmacy offerings through a partnership with the Mark Cuban Cost Plus Drug Company, offering patients access to low-cost generic and branded medications. The agreement includes PharmcoRx locations being listed as participating pharmacies in the Team Cuban Card provider directory, providing consumers with increased access to medications at reduced costs.
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Progressive Care's PharmcoRx Enters into Agreement with NationsBenefits to Offer Enhanced OTC Benefits to Health Plan Members

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Progressive Care Inc. (OTCQB: RXMD) Expands PharmcoRx Pharmacy's Ability to Provide Patients with Access to Additional Healthcare Benefits Covered by Medicare Advantage Plans
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NextPlat Reports Consolidated Third Quarter 2023 Results with Increased Revenues of $15.3 Million, Margins Improve to 30% and $2.7 Million Net Income

Rhea-AI Summary
NextPlat Corp (NASDAQ: NXPL, NXPLW) reports double-digit growth in both healthcare and e-commerce operations, with consolidated revenues of $15.3 million in Q3 2023. Gross margins increased to 30%, and net income was approximately $2.6 million. The company ended the quarter with $26.3 million in cash. The PR highlights the company's financial performance, strategic acquisitions, and expansion into the Chinese market through Alibaba's Tmall Global platform.
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Progressive Care Inc. Announces Record Third Quarter 2023 Revenues of $12.4 Million, an Increase of 22%, as Gross Margins Improve to 31% Over Third Quarter 2022 Results

Rhea-AI Summary
Progressive Care Inc. (OTCQB: RXMD) reports record third quarter revenues of $12.4 million, a 22% increase from the prior year period. The company attributes the growth to strong performance in its PharmcoRx pharmacies and 340B contract business. Gross profit margin increased to 31% from 21% in the same period of 2022, and cash balance as of September 30, 2023, was approximately $7.0 million. NextPlat Corp, along with the Chairman and Vice-Chairman of Progressive Care, now collectively owns 53% of the company's voting common stock, signifying a change in control. The company looks forward to further capitalizing on growth opportunities and delivering value to patients, providers, and shareholders.
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NextPlat's Florida E-Commerce Development Program to Launch the Online Sales of OPKO Healthcare Products in China on Alibaba's Tmall Global

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NextPlat Corp announces e-commerce agreement to sell OPKO Health Europe products in China
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NextPlat to Present at 8th Annual Dawson James Conference

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NextPlat Corp to present at 8th Annual Dawson James Conference on October 12th, 2023.
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FAQ

What is the current stock price of NextPlat (NXPL)?

The current stock price of NextPlat (NXPL) is $1.145 as of November 6, 2024.

What is the market cap of NextPlat (NXPL)?

The market cap of NextPlat (NXPL) is approximately 34.5M.

What does NextPlat Corp do?

NextPlat Corp is a global e-commerce and healthcare company that serves a wide range of customers, from individual consumers to enterprises and government entities.

What are the main business segments of NextPlat?

NextPlat operates two main segments: e-Commerce Business and Healthcare Business.

What recent acquisition has NextPlat made?

NextPlat recently acquired Outfitter Satellite Inc., enhancing its North American e-commerce operations.

How is NextPlat involved in healthcare?

NextPlat, through its subsidiary Progressive Care Inc., offers extensive healthcare solutions including pharmacy services and patient engagement focused on complex chronic diseases.

What are some financial highlights of NextPlat?

NextPlat reported record revenues in Q1 2024, driven by its diversified business model and strategic acquisitions.

What is the significance of NextPlat's partnership with Alibaba?

NextPlat's partnership with Alibaba aims to launch an e-commerce development program, allowing access to the Chinese market for healthcare products.

How is NextPlat improving its operations?

NextPlat integrates acquired businesses onto its global e-commerce platform, enhancing efficiency and expanding market reach.

What are the future plans for NextPlat?

NextPlat plans to further penetrate high-growth markets in both technology and healthcare sectors.

What products does Progressive Care Inc. offer?

Progressive Care Inc. offers pharmacy services, patient engagement solutions, and partnerships with payors and pharmaceutical manufacturers.

Where can I find more information about NextPlat?

More information can be found on their website, www.NextPlat.com, and their social media platforms.

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NextPlat Corp

OTC:NXPL

NXPL Rankings

#5050 Ranked by Market Cap
N/A Ranked by Dividends

NXPL Stock Data

34.46M
28.48M
56.92%
3.87%
0.14%
Software - Application
Telephone Communications (no Radiotelephone)
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United States of America
COCONUT GROVE