NextPlat Corp
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
NXPL$8.35-5.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Cash received from e-Commerce Operations revenue | $9,862 | $8,308 |
| Cash received from Healthcare Operations revenue | 43,162 | 9,138 |
| Cash received from interest income | 646 | 394 |
| Cash received from other sources | 367 | 280 |
| Cash paid for inventory purchases and other costs of revenue | (36,803) | (12,963) |
| Cash paid for salaries and related expenses | (8,284) | (4,039) |
| Cash paid for other recurring operating expenses | (10,410) | (5,309) |
| Cash paid for interest expense | (41) | (56) |
| Cash paid for income taxes | (69) | — |
| Cash paid for merger costs and other non-recurring expenses | (3,418) | — |
| Net cash used in operating activities | (4,988) | (4,247) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of property and equipment | (221) | (458) |
| Capital contributions to equity method investee | — | (1,506) |
| Proceeds from sale or disposal of property and equipment | 98 | — |
| Cash acquired in acquisition of Progressive Care subsidiary | — | 7,352 |
| Cash acquired in acquisition of Outfitter Satellite subsidiary | 236 | — |
| Cash paid in acquisition of Outfitter Satellite subsidiary | (1,094) | — |
| Net cash (used in) provided by investing activities | (981) | 5,388 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Repayments of note payable, related party, net | — | (3) |
| Issuance of common stock for PIPE transaction | — | 6,000 |
| Proceeds from exercise of warrants | 85 | 690 |
| Capital contribution of non-controlling interest | 122 | — |
| Payments on finance lease liabilities | (18) | (9) |
| Repayments of notes payable | (139) | (348) |
| Net cash provided by financing activities | 50 | 6,330 |
| Effect of exchange rate on cash | (28) | (16) |
| Net (decrease) increase in cash | (5,947) | 7,455 |
| Cash beginning of period | 26,307 | 18,891 |
| Cash end of period | $20,360 | $26,346 |
| Reconciliation of net loss to cash flow used by operating activities | ||
| Net loss | $(20,108) | $(2,891) |
| Adjustments to reconcile net loss to net cash (used in) operating activities: | ||
| Depreciation expense | 596 | 540 |
| Change in provision for doubtful accounts | (50) | 12 |
| Amortization of intangible assets | 1,678 | 653 |
| Amortization of right-of-use assets - operating leases | 241 | 188 |
| Amortization of right-of-use assets - finance leases | 13 | 8 |
| Write-off of right-of-use asset | 111 | — |
| Gain on remeasurement of fair value of equity interest in affiliate prior to acquisition | — | (6,138) |
| Impairment loss | 13,653 | — |
| Equity in net loss of affiliate | — | 1,440 |
| Stock-based compensation | 1,637 | 4,561 |
| Gain on sale or disposal of property and equipment | (98) | — |
| Accounts receivable | 3,055 | (3,897) |
| Inventories | (1,090) | (2,069) |
| Unbilled revenue | (30) | (27) |
| Prepaid expense | 229 | (343) |
| Notes receivable | 75 | (251) |
| Deposits | (55) | — |
| VAT receivable | (8) | 63 |
| Accounts payable and accrued expenses | (4,645) | 4,118 |
| Operating lease liabilities | (277) | (179) |
| Income taxes payable | 23 | 84 |
| Contract liabilities | 62 | (7) |
| Liabilities from discontinued operations | — | (112) |
| Net cash used in operating activities | $(4,988) | $(4,247) |
Unless the context requires otherwise, references to the “Company”, “we”, “us”, “our”, “our Company”, or “our business” refer to NextPlat Corp and its subsidiaries.
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