NextPlat

NXPL

Software - Application · Technology

Price

$9.15

+0.58 (+6.77%)

Market Cap

$24.8M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+536.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 408K (2021) → 2.6M (2025)

Winston Score History

The full picture

NextPlat Corp is a small technology company that helps businesses and individuals connect to the internet and communicate in remote areas where regular networks don't reach. It sells satellite-based communication products and services, targeting customers in industries like maritime, aviation, and emergency response. The company also has a healthcare technology segment focused on remote patient monitoring and telehealth services.

NextPlat makes money by selling hardware devices, software subscriptions, and data service plans. It operates primarily in the United States but serves customers globally through its satellite connectivity products. The company is very small, with a market cap near zero and negative operating margins, meaning it currently spends more than it earns. Its main challenge is reaching profitability while competing against much larger, well-funded rivals in both the satellite communications and digital health spaces — two crowded markets where scale and capital matter enormously.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-10.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+92.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

37.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$12M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

NextPlat's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

39.5%

Modest — 39.5% gross margin

Profit after running costs

Operating Margin

-1.1%

Losing money on operations — -1.1%

Return on the money invested

ROCE

-38.3%

Weak — -38.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-17.8%

Shrinking sales (-17.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-9.5%

Burning cash (-9.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.06

Conservative — low debt load (0.06)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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