NextPlat Corp (NASDAQ: NXPL) announced its financial results for the third quarter ended September 30, 2026, in a press release furnished with an 8-K filing. The company reported consolidated revenue of approximately $10.5 million for the third quarter of 2026, which is a decrease from the $13.8 million reported in the same period of the prior year. The company attributes the revenue decline to lower reimbursement rates and reduced retail prescription volumes in its Healthcare operations, though these factors contributed to a significant improvement in gross margins.
Financial highlights for the third quarter of 2026 include a gross margin of approximately 35.0%, a near-record level compared to 19.9% in the third quarter of 2025. The Healthcare Operations segment achieved a gross margin of approximately 41%, marking a 23 percentage point improvement from the 18% recorded in the prior year. Conversely, the E-Commerce Operations segment maintained a gross margin of approximately 24% year-over-year. The company’s total operating expenses decreased to approximately $4.5 million from $4.9 million in the prior year, driven by a reduction in salaries, wages, and payroll taxes.
Net loss attributable to common stockholders for the quarter ended September 30, 2026, was approximately $0.7 million, or ($0.28) per diluted share. This represents a 66% reduction in net loss compared to a net loss of approximately $2.2 million, or ($0.84) per diluted share, in the third quarter of 2025. The company ended the quarter with approximately $11.2 million in cash and working capital of approximately $13.5 million.
NextPlat reported growth in its higher-margin 340B prescription services, with volumes growing nearly 72% year-over-year. The company also completed the acquisition of Scott’s pharmacy in the Pensacola area and announced the opening of a new pharmacy in Jacksonville. Additionally, the company expects retail prescription volumes to increase starting in the fourth quarter as it begins to recognize contributions from these new locations.
On the e-commerce front, revenue increased 3% to approximately $3.8 million. This growth was driven by record-high airtime contract revenue and the expansion of international sales channels, including a partnership with Decathlon to sell satellite connectivity products in 20 countries. The company is on track to launch a nationwide medication fulfillment website in the fourth quarter.
