secwatch.observer — SEC 8-K summary
======================================

Issuer:     Progressive Care Inc. (—)
CIK:        0001402945
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001437749-24-016928
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1402945/000143774924016928/0001437749-24-016928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1402945/000143774924016928/rxmd20240306_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-016928

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer