NextPlat Corp Segments Disclosure

Note 20.  Reportable Segments

 

The Company has two reportable segments: (i) e-Commerce Operations, which involves acquiring and leasing, primarily an e-commerce platform to collaborate with businesses to optimize their ability to sell their goods online, domestically, and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue, and other related businesses and (ii) Healthcare Operations, which provides TPA, data management, COVID-19 related diagnostics and vaccinations, prescription pharmaceuticals, compounded medications, telepharmacy services, anti-retroviral medications, medication therapy management, the supply of prescription medications to long-term care facilities, medication adherence packaging, contracted pharmacy services for 340B covered entities under the 340B Drug Discount Pricing Program, and health practice risk management. This organizational structure aligns with how the Company’s CODMs manage the business, including resource allocation and performance assessment, and further aligns with the Company’s product categories and the key markets the Company serves.

 

The CODMs include the Company’s Chief Executive Officer and Chief Financial Officer.

 

The CODMs do not review segment assets and segment expenses at a level different than what is reported in the Company’s Consolidated Balance Sheets and Consolidated Statements of Operations and Comprehensive Loss. While the Company believes there are synergies between the two reportable segments, the segments are managed separately because each requires different business strategies. Accounting policies associated with our operating segments are generally the same as those described in Note 1.

 

The following tables provide information about the Company’s reportable segments (in thousands):

 

Year Ended December 31, 2025		e-Commerce Operations				Healthcare Operations				Eliminations				Total
e-Commerce revenue		$	14,608			$	—			$	—			$	14,608
Pharmacy prescription and other revenue, net of PBM fees			—				35,704				—				35,704
Pharmacy 340B contract revenue			—				4,010				—				4,010
Revenues, net			14,608				39,714				—				54,322
Expenses:
Cost of revenue			11,251				32,165				—				43,416
Selling, general and administrative			2,958				3,085				—				6,043
Salaries, wages and payroll taxes			2,905				7,802				—				10,707
Professional fees			1,510				754				—				2,264
Depreciation and amortization			278				262				—				540
Intangible asset amortization			102				—				—				102
Loss on settlement of litigation			—				250				—				250
Total expenses			19,004				44,318				—				63,322
Operating loss			(4,396	)			(4,604	)			—				(9,000	)
Interest expense			7				57				—				64
Other expense			434				965				—				1,399
Loss before income taxes			(4,837	)			(5,626	)			—				(10,463	)
Income taxes			—				—				—				-
Net loss		$	(4,837	)		$	(5,626	)		$	—			$	(10,463	)
Year Ended December 31, 2024		e-Commerce Operations				Healthcare Operations				Eliminations				Total
e-Commerce revenue		$	13,791			$	—			$	—			$	13,791
Pharmacy prescription and other revenue, net of PBM fees			—				41,907				—				41,907
Pharmacy 340B contract revenue			—				10,384				—				10,384
Revenues, net			13,791				52,291				—				66,082
Expenses:
Cost of revenue			10,356				38,718				—				49,074
Selling, general and administrative			2,907				3,272				—				6,179
Salaries, wages and payroll taxes			3,599				9,704				—				13,303
Impairment loss			—				13,653				—				13,653
Professional fees			2,900				1,741				(240	)			4,401
Depreciation and amortization			438				350				—				788
Intangible asset amortization			101				1,608				—				1,709
Total expenses			20,301				69,046				(240	)			89,107
Operating loss			(6,510	)			(16,755	)			240				(23,025	)
Interest expense			13				68				—				81
Other (income) expense			(647	)			(244	)			240				(651	)
Loss before income taxes			(5,876	)			(16,579	)			—				(22,455	)
Income taxes			(71	)			—				—				(71	)
Net loss		$	(5,947	)		$	(16,579	)		$	—			$	(22,526	)

 

		e-Commerce Operations				Healthcare Operations				Eliminations				Total
Total assets as of December 31, 2025		$	12,748			$	14,717			$	—			$	27,465
Total assets as of December 31, 2024		$	19,044			$	18,033			$	—			$	37,077