Filing Flows › NextPlat (NXPL) › Q4 2025
NextPlat (NXPL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
NextPlat (NXPL) reported revenue of $12.8M for the fourth quarter 2025 (Q4 2025), -21% from a year earlier and -7% from the quarter before. Operating margin was -28.9%, net loss $5.1M (40.2% of revenue).
NextPlat, Q4 2025: revenue $12.8M (-21% year over year), operating margin -28.9%, net loss $5.1M, operating cash flow −$302K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.8M | -7% | -21% |
| Operating profit | −$3.7M | — | — |
| Net earnings | −$5.1M | — | — |
| Operating cash flow | −$302K | — | — |
What changed
Revenue was $12.8M in Q4 2025, down 21% year over year and down 7% from the previous quarter. Pharmacy Prescription and Other Revenue, Net of PBM Fees was the largest line at 62% of revenue.
Gross margin was 14.3%, down 2.5 points from Q4 2024. Operating costs exceeded revenue by $3.7M, an operating margin of -28.9%. Operating expenses grew 10% against a revenue fall of 21%. The fastest-growing cost line was Other operating costs (+12%). The quarter ended with a net loss of $5.1M, wider than the previous quarter's $2.2M loss.
Operating cash flow was −$302K. Non-cash charges added back $116K of depreciation and amortization and $400K of share-based compensation. Working capital and other items added $4.3M. Capital expenditures of $37K exceeded it, leaving free cash flow of −$339K.
Questions
What was NextPlat's revenue in the fourth quarter 2025?
NextPlat (NXPL) reported revenue of $12.8M for the fourth quarter 2025 (Q4 2025), -21% from a year earlier and -7% from the quarter before.
Was NextPlat profitable in the fourth quarter 2025?
Operating loss was $3.7M (-28.9% of revenue) and net loss $5.1M.
Source: NextPlat 10-K on SEC EDGAR.