NextPlat reports 2022 revenue up 51% to $11.7M; net loss widens to $9.2M

NextPlat Corp

2023-Q1 EPS reported -$0.08 revenue$2,876,153

Full-year 2022 revenue of $11.7M, up 51.3% vs 2021; Q4 revenue $2.6M, up 26.9% YoY.
Net loss of $9.2M vs $8.1M in 2021; includes non-cash $1.7M loss on Progressive Care investment.
Gross margin fell to 21.2% from 24.0% due to higher product costs and freight.
Cash position $18.9M at year-end; raised over $15M through two common stock offerings.
Strategic $7M investment in Progressive Care to enter healthcare e-commerce; added new CFO, compliance officer, director.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NextPlat Corp reported the full year ended December 31, 2022 results: revenue approximately $11.7 million, net income approximately $9.2 million.

Period: the full year ended December 31, 2022
Revenue: approximately $11.7 million
Net income: approximately $9.2 million
Result: reported results

Exact text from the filing

M. Fernandez, Executive Chairman and CEO of NextPlat. Financial highlights of the year ended December 31, 2022 included: ● Revenues for the full year increased to approximately $11.7 million or approximately 51.3% over results reported for the full year ended December 31, 2021. Revenues in the fourth quarter of 2022 increased approximately 26.9% to approximately

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Source: SEC EDGAR

accession 0001493152-23-010507

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