---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-016928"
form_type: "8-K"
ticker: null
cik: "0001402945"
company_name: "Progressive Care Inc."
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T22:49:53.482314+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-016928
- form_type: 8-K
- cik: 0001402945
- company_name: Progressive Care Inc.
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402945/000143774924016928/0001437749-24-016928-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402945/000143774924016928/rxmd20240306_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-016928
- JSON: https://secwatch.observer/filing/0001437749-24-016928.json
- Plain text: https://secwatch.observer/filing/0001437749-24-016928.txt

## Key facts
- Earnings Releases
  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
  source text: Progressive Care Inc. Announces Record First Quarter 2024 Revenues of $14.6 Million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402945/000143774924016928/0001437749-24-016928-index.htm

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