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Side-by-side financial comparison of NextPlat Corp (NXPL) and UPEXI, INC. (UPXI). Click either name above to swap in a different company.
NextPlat Corp is the larger business by last-quarter revenue ($12.8M vs $8.1M, roughly 1.6× UPEXI, INC.). NextPlat Corp runs the higher net margin — -40.2% vs -2222.1%, a 2181.9% gap on every dollar of revenue. On growth, UPEXI, INC. posted the faster year-over-year revenue change (101.0% vs -21.1%). NextPlat Corp produced more free cash flow last quarter ($-339.0K vs $-2.7M). Over the past eight quarters, UPEXI, INC.'s revenue compounded faster (24.2% CAGR vs -14.4%).
NXPL vs UPXI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $12.8M | $8.1M |
| Net Profit | $-5.1M | $-178.9M |
| Gross Margin | 14.3% | 83.3% |
| Operating Margin | -28.9% | -2177.9% |
| Net Margin | -40.2% | -2222.1% |
| Revenue YoY | -21.1% | 101.0% |
| Net Profit YoY | -70.6% | -13649.6% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.8M | $8.1M | ||
| Q3 25 | $13.8M | $9.2M | ||
| Q2 25 | $13.2M | $4.3M | ||
| Q1 25 | $14.5M | $3.2M | ||
| Q4 24 | $16.2M | $4.0M | ||
| Q3 24 | $15.4M | $4.4M | ||
| Q2 24 | $17.0M | $5.0M | ||
| Q1 24 | $17.5M | $5.2M |
| Q4 25 | $-5.1M | $-178.9M | ||
| Q3 25 | $-2.2M | $66.7M | ||
| Q2 25 | $-1.8M | $-6.9M | ||
| Q1 25 | $-1.3M | $-3.8M | ||
| Q4 24 | $-3.0M | $-1.3M | ||
| Q3 24 | $-4.2M | $-1.6M | ||
| Q2 24 | $-5.3M | $-15.7M | ||
| Q1 24 | $-1.5M | $-4.1M |
| Q4 25 | 14.3% | 83.3% | ||
| Q3 25 | 19.9% | 89.6% | ||
| Q2 25 | 21.8% | 79.4% | ||
| Q1 25 | 23.8% | 49.3% | ||
| Q4 24 | 16.8% | 74.3% | ||
| Q3 24 | 23.2% | 67.3% | ||
| Q2 24 | 34.5% | 31.0% | ||
| Q1 24 | 27.8% | 24.3% |
| Q4 25 | -28.9% | -2177.9% | ||
| Q3 25 | -14.5% | — | ||
| Q2 25 | -13.8% | -151.7% | ||
| Q1 25 | -10.2% | -113.5% | ||
| Q4 24 | -14.1% | -26.8% | ||
| Q3 24 | -52.1% | -30.6% | ||
| Q2 24 | -64.1% | -265.2% | ||
| Q1 24 | -10.5% | -96.5% |
| Q4 25 | -40.2% | -2222.1% | ||
| Q3 25 | -15.9% | 722.4% | ||
| Q2 25 | -13.5% | -161.5% | ||
| Q1 25 | -9.2% | -121.2% | ||
| Q4 24 | -18.6% | -32.5% | ||
| Q3 24 | -27.4% | -37.3% | ||
| Q2 24 | -31.3% | -312.4% | ||
| Q1 24 | -8.5% | -78.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | $0.76 | ||
| Q2 25 | — | $0.83 | ||
| Q1 25 | $-0.05 | $-2.87 | ||
| Q4 24 | — | $-1.24 | ||
| Q3 24 | $-0.22 | $1.55 | ||
| Q2 24 | — | $-15.66 | ||
| Q1 24 | $-0.08 | $-4.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.7M | — |
| Total DebtLower is stronger | $1.3M | — |
| Stockholders' EquityBook value | $17.3M | $48.7M |
| Total Assets | $27.5M | $271.1M |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.7M | — | ||
| Q3 25 | $13.9M | — | ||
| Q2 25 | $16.6M | — | ||
| Q1 25 | $17.7M | — | ||
| Q4 24 | $20.0M | — | ||
| Q3 24 | $20.4M | — | ||
| Q2 24 | $24.9M | — | ||
| Q1 24 | $23.5M | — |
| Q4 25 | $1.3M | — | ||
| Q3 25 | $1.2M | — | ||
| Q2 25 | $1.2M | — | ||
| Q1 25 | $1.3M | — | ||
| Q4 24 | $1.4M | — | ||
| Q3 24 | $1.5M | — | ||
| Q2 24 | $1.3M | — | ||
| Q1 24 | $1.4M | — |
| Q4 25 | $17.3M | $48.7M | ||
| Q3 25 | $21.4M | $210.8M | ||
| Q2 25 | $23.5M | $90.1M | ||
| Q1 25 | $25.3M | $1.9M | ||
| Q4 24 | $27.3M | $3.8M | ||
| Q3 24 | $22.5M | $5.0M | ||
| Q2 24 | $26.5M | $6.5M | ||
| Q1 24 | $31.2M | $22.1M |
| Q4 25 | $27.5M | $271.1M | ||
| Q3 25 | $30.0M | $419.7M | ||
| Q2 25 | $31.0M | $123.8M | ||
| Q1 25 | $35.2M | $15.1M | ||
| Q4 24 | $37.1M | $17.5M | ||
| Q3 24 | $41.1M | $18.6M | ||
| Q2 24 | $51.5M | $23.5M | ||
| Q1 24 | $65.1M | $56.5M |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.05× | — | ||
| Q2 25 | 0.05× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 0.05× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 0.05× | — | ||
| Q1 24 | 0.04× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-302.0K | $-2.7M |
| Free Cash FlowOCF − Capex | $-339.0K | $-2.7M |
| FCF MarginFCF / Revenue | -2.6% | -33.5% |
| Capex IntensityCapex / Revenue | 0.3% | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-22.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-302.0K | $-2.7M | ||
| Q3 25 | $-2.7M | $-9.8M | ||
| Q2 25 | $-1.0M | $-8.4M | ||
| Q1 25 | $-2.1M | $-778.7K | ||
| Q4 24 | $-476.0K | $-1.4M | ||
| Q3 24 | $-4.6M | $-2.0M | ||
| Q2 24 | $2.3M | $-101.4K | ||
| Q1 24 | $-2.7M | $783.5K |
| Q4 25 | $-339.0K | $-2.7M | ||
| Q3 25 | — | $-9.8M | ||
| Q2 25 | $-1.1M | $-8.8M | ||
| Q1 25 | $-2.1M | $-809.3K | ||
| Q4 24 | $-508.0K | — | ||
| Q3 24 | $-4.7M | $-2.1M | ||
| Q2 24 | $2.2M | $-1.0M | ||
| Q1 24 | $-2.7M | $600.9K |
| Q4 25 | -2.6% | -33.5% | ||
| Q3 25 | — | -106.0% | ||
| Q2 25 | -8.0% | -205.4% | ||
| Q1 25 | -14.3% | -25.6% | ||
| Q4 24 | -3.1% | — | ||
| Q3 24 | -30.6% | -49.2% | ||
| Q2 24 | 13.2% | -20.5% | ||
| Q1 24 | -15.7% | 11.5% |
| Q4 25 | 0.3% | 0.2% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | 0.1% | 9.0% | ||
| Q1 25 | 0.2% | 1.0% | ||
| Q4 24 | 0.2% | 0.0% | ||
| Q3 24 | 0.6% | 3.8% | ||
| Q2 24 | 0.4% | 18.5% | ||
| Q1 24 | 0.4% | 3.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.15× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
UPXI
Segment breakdown not available.
