---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-016925"
form_type: "8-K"
ticker: "NXPL"
cik: "0001058307"
company_name: "NextPlat Corp"
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T22:32:16.502661+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NextPlat reports record Q1 revenue of $17.5M, up 508% YoY; net loss widens to $1.5M

## Summary
- Consolidated Q1 revenue $17.5M vs $2.9M a year ago; gross margin improved to 27.5% from 21.6%.
- Net loss $1.5M ($0.08/share) vs $1.2M ($0.08) in Q1 2023; cash balance $23.5M at quarter end.
- E-commerce revenue $2.9M; healthcare operations (Progressive Care) contributed $14.6M.
- Proposed all-stock merger with Progressive Care (OTCQB: RXMD) and acquisition of Outfitter Satellite closed April 1, 2024.
- OPKO-branded storefront launched on Alibaba's Tmall Global in China on March 1, 2024; Florida Sunshine line expected Q3 2024.

## SEC filing metadata
- accession: 0001437749-24-016925
- form_type: 8-K
- ticker: NXPL
- cik: 0001058307
- company_name: NextPlat Corp
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058307/000143774924016925/0001437749-24-016925-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058307/000143774924016925/nxpl20240306_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-016925
- JSON: https://secwatch.observer/filing/0001437749-24-016925.json
- Plain text: https://secwatch.observer/filing/0001437749-24-016925.txt

## Key facts
- Earnings Releases
  NextPlat Corp reported the first fiscal quarter ended March 31, 2024 results: revenue approximately $17.5 million, net income approximately $1.5 million, or ($0.08) per diluted share.
  - Period: the first fiscal quarter ended March 31, 2024
  - Revenue: approximately $17.5 million
  - Net income: approximately $1.5 million, or ($0.08) per diluted share
  - Result: reported results
  source text: NextPlat Reports Record Consolidated Q1 2024 Revenues of $17.5 Million Compared to $2.9 Million in Q1 2023 (508% Increase)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058307/000143774924016925/0001437749-24-016925-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.