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NextPlat Narrows Losses as Higher-Margin Pharmacy Services Gain Traction

NextPlat Corp significantly tightened its financial performance in the second quarter of 2026, slashing its net loss by 87% to $144,000. Driven by a strategic pivot toward high-margin 340B pharmacy contracts and expanded e-commerce operations, the company achieved a record 40% gross margin during the three-month period.

NextPlat Narrows Losses as Higher-Margin Pharmacy Services Gain Traction
Photo: Bio & News

Revenue reached $11.9 million for the quarter, representing a 21% sequential increase over the first quarter of 2026. CEO David Phipps attributed the turnaround to a more efficient operating structure and a deliberate focus on contracted healthcare services, which saw a 136% year-over-year revenue jump to $2.2 million. This growth helped offset headwinds caused by lower payer reimbursement rates that impacted traditional prescription revenue.

E-commerce operations also provided a tailwind, with revenues climbing 27% sequentially to $4.1 million. This segment benefited from robust international demand for satellite-based IoT and Push-to-Talk hardware, particularly from government and military clients. Looking ahead, the company is preparing to launch a nationwide medication fulfillment website in the third quarter and has initiated a strategic acquisition of a pharmacy operation in the Pensacola area to further scale its footprint in Florida.

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