#United States #AI Software #Healthcare Solutions #NextPlat #Hallandale Beach

NextPlat Corp: CEO Shareholder Update Letter

Date: October 8, 2025
Location: Hallandale Beach, FL

NextPlat Corp, a prominent player in global consumer products and healthcare solutions, recently shared a comprehensive letter addressing its shareholders. This update highlights significant operational advancements and strategic initiatives moving into the final quarter of 2025.

Operational Achievements

With a keen focus on enhancing performance and sustainability, the NextPlat leadership team has engaged in an exhaustive review of the company's operational protocols since the appointment of Interim CEO David Phipps in May. The strategic plan devised aims to not only navigate present challenges but also capitalize on upcoming opportunities. Key actions include:

• - Reducing corporate overhead to improve financial results
• - Recruiting vital healthcare expertise to bolster leadership capabilities
• - Refining operational processes for maximum efficiency

Changes in Healthcare Leadership

A noteworthy development announced in August was the restructuring of the healthcare management sector, now under the helm of Birute Norkute, a seasoned executive with extensive industry experience. Her past in facilitating the growth of Progressive Care Inc., acquired by NextPlat in late 2024, positions her as a capable leader to drive operational success, foster customer retention, and spearhead new business opportunities. The expectation is that these enhancements will yield favorable financial outcomes beginning in Q4 2025.

Cost-Reduction Efforts

Continued emphasis on cost efficiency is paramount for NextPlat. The organization has already identified savings of approximately $1 million annually, with additional measures poised to contribute up to another $1 million in overhead reductions by quarter's end. These strategies include:

• - Closing less-utilized office spaces
• - Streamlining personnel allocations
• - Ending reliance on external consultants
• - Enhancing logistics efficiency

Collectively, these initiatives signify fundamental steps toward achieving better financial stability and operational cash flow, setting a course to realize long-term profitability.

Growth Prospects and Business Development

Despite prioritizing cost cuts, fostering growth remains crucial. NextPlat has established three primary channels of operation:

• - Healthcare services via PharmcoRx pharmacies,
• - Communications services through subsidiaries like Global Telesat, Orbital Satcom, and Outfitter Satellite,
• - E-Commerce initiatives aimed at marketing U.S.-produced products in the expansive Chinese market.

Healthcare Services Expansion

In the healthcare segment, notwithstanding the broader market challenges surrounding pricing and insurance reimbursements, NextPlat has successfully secured multiple new contracts in Q3. They have also launched a technology enhancement program for their proprietary ClearMetrX platform, integrating AI features aimed at augmenting operational efficiency. The launch of ClearMetrX 4.0 is anticipated later this year, with broader distribution expected in 2026.

Further developments within the 340B clinic services sector have been promising, with new client acquisitions and the re-engagement of previous clients poised to elevate prescription volumes significantly. The expansion of pharmacy operations to 24/7 services also reflects NextPlat’s commitment to increasing responsiveness to customer needs and fulfilling new contract requirements.

Communications Sector Growth

NextPlat's communications segment has observed a surge in demand for satellite-based connectivity, attributed to key partnerships with industry leaders such as Iridium and Starlink. This uptick not only amplifies NextPlat's standing within the market but has resulted in record levels of recurring revenue due to the growing demand for IoT solutions.

The company's hardware partnerships, including collaborations with Garmin and Globalstar, have further propelled sales, with notable increases in unit sales for satellite-enabled devices. Plans for scaling these services and exploring new partnerships present exciting growth opportunities in both domestic and international markets.

Expansion into E-Commerce

Sales in NextPlat's e-commerce division have remained robust, buoyed by a partnership with OPKO Health, Inc., enabling nutritional products to reach the Chinese market without tariff constraints. The recent launch of the Florida Sunshine brand for vitamins and supplements, coupled with an AI-driven digital advertising campaign, signals NextPlat’s efficient approach to reaching consumers through platforms like Instagram and TikTok, with expectations of sales commencing in China in late 2025.

Shareholder Engagement

NextPlat continues to uphold its commitment to shareholders through meaningful engagement. In September, the company initiated a share repurchase program complying with SEC and Nasdaq regulations. Future updates will be provided in conjunction with Q3 financial results, anticipated to release around November 14, 2025.

In closing, NextPlat acknowledges the persistent challenges in the near term yet emphasizes ongoing progress. This shareholder update reaffirms the collective efforts of stakeholders, from customers to investors, as the company seeks to drive tangible value and maintain transparency in operational advancements.

For further information about NextPlat Corp, please visit our corporate webpage at nextplat.com or our healthcare service site at pharmcorx.com.