NextPlat (NASDAQ:NXPL) Issues Quarterly Earnings Results

NextPlat (NASDAQ:NXPL) posted its quarterly earnings data on Thursday. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.16, Zacks reports. NextPlat had a negative net margin of 23.14% and a negative return on equity of 58.05%. The company had revenue of $11.88 million during the quarter, compared to analyst estimates of $11.00 million.

Here are the key takeaways from NextPlat’s conference call:

• Second-quarter profitability improved sharply: consolidated gross margin reached a record 40%, up from 22% a year earlier, while net loss narrowed to $144,000 from $1.8 million.
• Healthcare revenue quality continued to improve, with contracted pharmacy revenue rising 136% year over year to $2.2 million and healthcare gross margin expanding to 46%. The company added a record six new 340B contracts during the quarter.
• Management expects to reach bottom-line profitability in the third quarter and sustain it into 2027, supported by onboarding 11 covered entities secured year to date and continued growth in contracted services.
• NextPlat agreed to acquire a profitable Pensacola-area pharmacy for $1.5 million in cash, targeted to close by the end of the third quarter; however, transaction and integration costs are expected to affect third-quarter results.
• E-commerce revenue increased 27% sequentially to $4.1 million, supported by global demand for satellite connectivity products, while a new online healthcare marketplace is expected to launch this quarter.

NextPlat Price Performance

Shares of NXPL stock traded up $1.40 during trading hours on Thursday, reaching $8.11. 162,777 shares of the company were exchanged, compared to its average volume of 72,105. NextPlat has a fifty-two week low of $3.38 and a fifty-two week high of $11.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.12. The stock’s fifty day moving average is $6.37 and its two-hundred day moving average is $5.95. The company has a market cap of $21.96 million, a price-to-earnings ratio of -1.88 and a beta of 1.83.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NXPL. Zacks Research upgraded NextPlat to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextPlat in a research report on Friday, August 7th. Finally, Litchfield Hills Research began coverage on NextPlat in a research note on Wednesday, June 24th. They issued a “buy” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in NextPlat stock. Citadel Advisors LLC acquired a new stake in NextPlat Corp. (NASDAQ:NXPL) during the third quarter, according to its most recent filing with the SEC. The firm acquired 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned about 0.19% of NextPlat as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.30% of the company’s stock.

About NextPlat

NextPlat Corp operates as a healthcare and e-commerce company in Europe, North America, South America, the Asia and Pacific, and Africa. The company operates full-service retail specialty services pharmacies that provides prescription pharmaceuticals prescription pharmaceuticals, third-party administration, risk and data management services, compounded medications, tele-pharmacy services, anti-retroviral medications, medication therapy management, contracted pharmacy services, and health practice risk management to healthcare organizations and providers, as well as supplies prescription medications to long-term care facilities.