v3.23.3
Condensed Consolidated Statements of Comprehensive income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 15,290,171 $ 2,630,826 $ 21,123,687 $ 9,080,083
Cost of revenue 10,705,489 1,952,072 15,074,319 7,032,847
Gross profit 4,584,682 678,754 6,049,368 2,047,236
Operating expenses:        
Selling, general and administrative 4,187,429 1,699,711 7,495,601 3,434,916
Salaries, wages and payroll taxes 2,483,432 651,219 4,039,307 1,957,592
Professional fees 520,726 356,306 1,385,474 839,509
Depreciation and amortization 871,066 136,457 1,200,825 348,022
Total operating expenses 8,062,653 2,843,693 14,121,207 6,580,039
Loss before other (income) expense (3,477,971) (2,164,939) (8,071,839) (4,532,803)
Other (income) expense:        
Interest expense 45,949 8,725 55,657 15,649
Interest earned (209,798) (3,849) (392,545) (13,421)
Other income 0 0 (315,845) 0
Foreign currency exchange rate variance 164,504 89,025 95,831 229,753
Total other (income) expense 655 93,901 (556,902) 231,981
Loss before income taxes and equity in net loss of affiliate (3,478,626) (2,258,840) (7,514,937) (4,764,784)
Income taxes (23,011) 0 (75,034) 0
Loss before equity in net loss of affiliate (3,501,637) (2,258,840) (7,589,971) (4,764,784)
Gain on remeasurement of fair value of equity interest in affiliate prior to acquisition 6,138,051 0 6,138,051 0
Equity in net loss of affiliate 0 (3,454,436) (1,439,637) (3,454,436)
Net income (loss) 2,636,414 (5,713,276) (2,891,557) (8,219,220)
Net loss attributable to noncontrolling interest 811,239 0 811,239 0
Net income (loss) attributable to NextPlat Corp 3,447,653 (5,713,276) (2,080,318) (8,219,220)
Comprehensive income (loss):        
Net income (loss) 2,636,414 (5,713,276) (2,891,557) (8,219,220)
Foreign currency gain (loss) 18,801 (67,635) (16,152) (87,753)
Comprehensive income (loss) 2,655,215 (5,780,911) (2,907,709) (8,306,973)
Net loss $ 3,447,653 $ (5,713,276) $ (2,080,318) $ (8,219,220)
Basic weighted average common shares outstanding (in shares) 18,702,857 9,469,509 17,079,077 9,310,936
Weighted number of common shares outstanding – diluted (in shares) 20,295,549 9,469,509 17,079,077 9,310,936
Basic weighted average earnings (loss) per common share (in dollars per share) $ 0.18 $ (0.6) $ (0.12) $ (0.88)
Diluted weighted average earnings (loss) per common share (in dollars per share) $ 0.17 $ (0.6) $ (0.12) $ (0.88)
Product [Member]        
Revenue $ 12,788,758 $ 2,630,826 $ 18,622,274 $ 9,080,083
Cost of revenue 10,633,953 1,952,072 15,002,783 7,032,847
Service [Member]        
Revenue 2,501,413 0 2,501,413 0
Cost of revenue $ 71,536 $ 0 $ 71,536 $ 0

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