NextPlat Corp. (NASDAQ: NXPL), a global e-commerce provider, is reporting on its financial results for the full year ended Dec. 31, 2022. Financial highlights of the report include revenues of $11.7 million, a 51.3% increase over revenue numbers from 2021, with Q4 2022 revenue coming in at $2.6 million, approximately 26.9% higher than the same period in 2021; annual sales at GTC, the company’s European operation, increased 77.9% with sales at OSC, the company’s North American operation, up more than 34.2%. Gross margins totaled 21.2%, a decrease from 24.0% reported for the previous year, and operating expenses for the full year were approximately $9.7 million. Operational and organizational highlights of the year included the company’s completion of its corporate transition to NextPlat Corp., an expanded focus into the high-growth healthcare market through a $7 million investment and recapitalization of Progressive Care Inc., additions to the leadership teams and the continued strengthening of NXPL subsidiaries’ global partner network. “We are pleased to have ended 2022 with continued record top-line performance,” said NextPlat Corp. executive chair and CEO Charles M. Fernandez in the press release. “2022 was also a year of strategic change at NextPlat, one embodied by the change of our corporate name and expansion of our focus beyond our connectivity and communications offerings towards the delivery of technology solutions and services for healthcare through our investment into Progressive Care. Supported by our expanded global e-commerce capabilities and partnerships in the communications and connectivity markets, we intend to participate in the ongoing digital transformation of healthcare, which is reshaping the entire industry, presenting exciting new opportunities for all stakeholders including providers and patients.”
To view the full press release, visit https://ibn.fm/y3q8w
About NextPlat Corp
NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets for physical and digital assets. The company intends to collaborate with businesses, optimizing the ability to sell their goods online, domestically, and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications services division through its Global Telesat Communications Ltd. and Orbital Satcom Corp. business units, which offer voice, data, tracking and IoT services to customers worldwide through multiple global storefronts. For more information about the company, please visit www.NextPlat.com.
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