NextPlat Corp (NXPL, NXPLW) reported a net loss of around $4.2 million for the third quarter, translating to a loss of $0.22 per share. This contrasts with the same period last year, where the company achieved a net income of approximately $3.4 million, or $0.17 per share. The decline in gross profit margin to 22.9% can largely be attributed to reduced reimbursement rates for retail prescription drugs within their Healthcare Operations segment.
For the same quarter, the company's consolidated revenue was approximately $15.4 million, showing a slight increase from the $15.3 million reported the previous year.
As of the close of the third quarter in 2024, NextPlat Corp held approximately $20.4 million in cash reserves.
