Progressive Care Q1 revenue up 28% to $14.6M; net loss widens to $0.4M

Progressive Care Inc.

2024-Q1 EPS reported -$0.06 revenue$14,628,000

Total revenues $14.6M (+28% YoY); 340B contract revenue surges 110% to $3.3M.
Gross margin 27% vs 28% a year ago; drug cost inflation cited.
Net loss $0.4M vs $0.1M loss in Q1 2023; operating loss $0.4M vs income $14k.
Proposed all-stock merger with NextPlat Corp (NXPL) expected to close in Q3 2024.
Cash $5.5M vs $7.9M at Dec 31, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Progressive Care Inc. reported the three months ended March 31, 2024 results: revenue approximately $14.6 million.

Period: the three months ended March 31, 2024
Revenue: approximately $14.6 million
Result: reported results

Exact text from the filing

Progressive Care Inc. Announces Record First Quarter 2024 Revenues of $14.6 Million

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Source: SEC EDGAR

accession 0001437749-24-016928

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