NextPlat Corp

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Welcome to the NextPlatCorp Full Year 2025 Earnings Conference Call. At this time, all lines will now listen only mode. Should you require any operator assistance, you may press star zero. Certain statements made during this conference call constitute forward-looking statements. These statements include the capabilities and success of the company's business and any of its products, services, or solutions. The words believe, forecast, project, intend, expect, plan, should, would, and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks uncertainties, and other factors, any of which could cause the company to not achieve some or all of its goals or the company's previously reported actual results including those expressed or implied by such forward-looking statements. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's filings with the Securities and Exchange Commission . copies of which may be obtained from the SEC's website at www.sec.gov. The company assumes no and hereby disclaims any obligation to update the forward-looking statements made during this conference call. Joining us on the call today are David Phipps, Chief Executive Officer, Amanda Ferriero, Chief Financial Officer, and Burita Narkuda, Vice President of Healthcare Operations. I'll now turn the meeting over to David Phipps for his opening remarks.

Good morning and welcome to Nextflat's year-end 2025 results conference call. Thank you for joining us. On today's call, we will discuss our annual results and highlight the significant turnaround progress we have made in improving our operations during the latter half of 2025. Most importantly, we want to share with you what we see in early 2026, specifically as it relates to our growth and profitability goals. Let me start by addressing the reverse split we announced last week. While the reverse split is not something we wanted to do, it was required to maintain our listing on NASDAQ. While our board and management team understand investor negativity around reverse splits, as collectively the largest shareholders, we don't believe Nexplat is representative of the kinds of companies that need to do reverse splits. Those companies are typically poorly capitalized, with weak businesses, significant, sometimes toxic debt, and very diluted share counts. Nexplat, on the other hand, is well capitalized with nearly $14 million in cash, no debt, and high insider ownership. As we have previously communicated and will discuss at length today, we now have a fundamentally improving business with growing margins and an expanding new business pipeline. Furthermore, we are now expanding our healthcare business from the single state of Florida to nationwide with the ability to support customers and patients in all 50 states. In looking at the business, as previously discussed in our various shareholder updates and press releases, we are starting to see the positive results of our business turnaround efforts. These are particularly clear when looking at the dramatic decreases in our cost structure, a direct result of our efforts to streamline the business and reduce overhead, all of which are contributing to over $2 million in underlies cost reductions, something Amanda Ferriero, our Chief Financial Officer, will discuss in more detail shortly. We are especially proud of our progress on not only cutting costs, but our successful efforts to improve the profitability of our healthcare business, which represented about 73% of our revenue in 2025. Our efforts here were focused on new business development, targeting higher margin 340B covered entities and long-term care facilities, securing medication fulfilment contracts, re-engagement with former clients and improving our customer service. These initiatives are now delivering the growth and early signs of margin improvement in the first quarter of 2026, details of which Boruto will comment on shortly. I will now briefly recap the developments in the fourth quarter, then Boruto will discuss progress within our healthcare segment, and Amanda will review our financial results. Following their presentations, I will provide some concluding high-level remarks on our shorter-term objectives and the positive developments you should expect to see from the company in 2026. After that, we will then conclude the conference call by responding to questions that were submitted by our shareholders. Let me begin by stating that the end of 2025 marked a significant turning point for Nexpla, as we largely completed much of the work we outlined in our refocusing and business improvement plans. As we have shared with you, these plans were designed to improve operations, reduce costs, and grow the business with the goal of driving profitability in 2026. I'm pleased to say that as early first quarter 2026 data indicates, we have been successful across a number of key operational and financial metrics, most notably early margin improvement, which is expected to ultimately support meaningful reductions in operating losses by the latter half of 2026. While we cannot provide too much detail today, we intend to bribe our investors and the market with an update on our first quarter 2026 performance shortly after completing our financial close. I'd like to now review our business and provide some additional insights which I believe will be helpful for investors in measuring our progress. In our healthcare segment, we are pleased to report the following improvements in operations during the fourth quarter. We prioritize our focus on supporting medical clinics participating in the U.S. government's 340B preferred drug pricing program, which we refer to these clinics as covered entities. We support these covered entities with prescription management and fulfillment services, helping them meet their contracted patient adherence requirements. Our ability to drive adherence is a key differentiator for us that sets us apart from our competitors and something that helps us drive brand awareness. and generate leads with other participating covered entities. These efforts resulted in a strong 94% increase in 340B contract revenue for the fourth quarter of 2025 versus the third quarter of 2025. Secondly, the contributions from recently added medication fulfillment contracts have surpassed expectations as we fulfill 7,000 plus prescriptions per month to their two facilities in Florida. The service fees we recognize from these fulfillments are driving significant bottom line profit improvements each month. And finally, because of our newly created nationwide fulfillment partnership with Health Warehouse, we intend to quickly leverage our relationships with current and potential customers, offering our services and support their operations in all 50 states. This is a milestone for our healthcare operation, setting the stage for us to expand our business and compete on a national level by leveraging our solid foundation in Florida. It should be noted that in 2025, our healthcare segment generated nearly $40 million in sales, or approximately 73% of our consolidated revenue, all from the single state of Florida. As you can imagine, our expansion beyond Florida into 49 additional states through our partnership with Health Warehouse provides us with a large new pathway to drive growth in our healthcare business. In our e-commerce segment, here are our most recent highlights. We continue to set new annual sales records, driven by strong growth in Internet of Things hardware and recurring high-margin airtime revenue, which also reached all-time highs. This performance is highlighted by the annual sales of over 5,000 Iridium and GlobalStar devices, along with more than 12,000 satellite-enabled trackers and messages, both setting new annual sales records. We continue to expand our global footprint and product portfolio, highlighted by the selection of GTC as the exclusive distributor for personal messaging and tracking products by a leading global satellite network operator for countries in the Nordic region, and a new IoT and 5G product distribution agreement with Telet Centurion. Additionally, we also received a significant contract supporting a NATO customer, adding to our growing involvement with UK government and defence customers. And finally, we just launched e-commerce sales in five countries in South America through MercadoLibre, the largest e-commerce platform in Latin America, which we expect to drive continued growth in this segment. At this point, I would like to now turn the call over to Bruta for her update.