NextPlat (NASDAQ: NXPL), a global e-Commerce provider, has released record financial results for its second fiscal quarter, the period ended June 30, 2024; the results include the consolidation of the operations of its e-commerce business with the results of its healthcare operations, Progressive Care Inc. (OTCQB: RXMD). Highlights of the report indicate the company experienced a 474% increase in consolidated Q2 revenues, which totaled $17 million, and a record 34.2% quarterly margins; the report noted that the company anticipates reaching $70 million in 2024 annual revenues with additional healthcare services contracts and E-commerce expansion expected to drive the company’s continued growth.
“We are pleased with our second-quarter performance as our healthcare and global e-commerce technology operations continue to produce strong top-line growth and greatly improved margin performance, driven by new 340B services contracts, increased prescription volumes as well as contributions from our recently acquired Outfitter Satellite operations,” said NextPlat executive chair and CEO Charles M. Fernandez in the press release. “Through the strategic combination with Progressive Care and the further expansion of e-commerce sales in North America and China this year, supported by a solid balance sheet, we believe we created a valuable and sustainable growth platform capable of delivering improved operational and financial results for our shareholders in the months ahead.”
To view the full press release, visit https://ibn.fm/aKUqm
About NextPlat Corp.
NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the company intends to assist businesses in selling their goods online, domestically and internationally, allowing customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data-management services in the United States through its subsidiary, Progressive Care Inc. For more information about the company, visit www.NextPlat.com or www.ProgressiveCareUS.com
NOTE TO INVESTORS: The latest news and updates relating to RXMD are available in the company’s newsroom at https://ibn.fm/RXMD
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