NextPlat Narrows Losses as Higher-Margin Pharmacy Services Gain Traction

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.