Filing Flows › NextPlat (NXPL) › Q3 2025
NextPlat (NXPL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
NextPlat (NXPL) reported revenue of $13.8M for the third quarter 2025 (Q3 2025), -11% from a year earlier and +4% from the quarter before. Operating margin was -14.5%, net loss $2.2M (15.9% of revenue).
NextPlat, Q3 2025: revenue $13.8M (-10% year over year), operating margin -14.5%, net loss $2.2M, operating cash flow −$2.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.8M | +4% | -11% |
| Operating profit | −$2.0M | — | — |
| Net earnings | −$2.2M | — | — |
| Operating cash flow | −$2.7M | — | — |
What changed
Revenue was $13.8M in Q3 2025, down 11% year over year and up 4% from the previous quarter. Pharmacy Prescription and Other Revenue, Net of PBM Fees was the largest line at 69% of revenue. Pharmacy 340B Contract lost $1.9M year over year (down 77%), 118% of the total change.
Gross margin was 19.9%, down 3.3 points from a year earlier. Operating costs exceeded revenue by $2.0M, an operating margin of -14.5%. Operating expenses fell 59% while revenue fell 11%. The quarter ended with a net loss of $2.2M, wider than the previous quarter's $1.8M loss.
Operating cash flow was −$2.7M. Non-cash charges added back $155K of depreciation and amortization and $189K of share-based compensation. Working capital and other items used $887K.
Questions
What was NextPlat's revenue in the third quarter 2025?
NextPlat (NXPL) reported revenue of $13.8M for the third quarter 2025 (Q3 2025), -11% from a year earlier and +4% from the quarter before.
Was NextPlat profitable in the third quarter 2025?
Operating loss was $2.0M (-14.5% of revenue) and net loss $2.2M.
Source: NextPlat 10-Q on SEC EDGAR.