NextPlat (NASDAQ:NXPL) Posts Earnings Results

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

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 Stock Up 8.7%

Shares of NASDAQ NXPL opened at $8.81 on Friday. 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 company has a market cap of $23.89 million, a P/E ratio of -2.04 and a beta of 1.83. NextPlat has a 1 year low of $3.38 and a 1 year high of $11.10. The firm has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $5.95.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextPlat in a research report on Friday, August 7th. 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 for the company. Finally, Zacks Research raised NextPlat to a “hold” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in NextPlat stock. Citadel Advisors LLC purchased a new position in shares of NextPlat Corp. (NASDAQ:NXPL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 Securities and Exchange Commission. 1.30% of the stock is currently owned by institutional investors.

NextPlat Company Profile

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.