NextPlat names Amanda Ferrio as new CFO as part of restructuring

HALLANDALE BEACH, Fla. - NextPlat Corp (NASDAQ:NXPL), a $22.7 million market cap technology and healthcare solutions provider, announced Tuesday the promotion of Amanda L. Ferrio to Chief Financial Officer, replacing Cecile Munnik who will depart following a transition period that includes filing the company’s quarterly report for the period ended September 30, 2025. According to InvestingPro data, the company has shown strong momentum with a 59% price return over the past six months, though it faces challenges with profitability.

Ferrio previously served as Vice President of Accounting & Finance at Progressive Care LLC, NextPlat’s healthcare operation acquired last year. She brings over 15 years of accounting and finance experience from both Nasdaq-listed and private companies.

In her previous role at Progressive Care, Ferrio oversaw aspects of the accounting department including financial reporting, budgeting, and SEC filings over a three-year period.

"Amanda has continually demonstrated her skill and dedication to supporting the evolving financial operations of our business," said David Phipps, Chief Executive Officer of NextPlat, in a press release statement.

Prior to joining Progressive Care, Ferrio held positions including Controller at BBC International, LLC; Senior Manager at Willis-Lease Finance Corporation; and Senior Accountant roles at BioMatrix Specialty Pharmacy and FedNat. She holds both Master and Bachelor of Science degrees in Accounting.

NextPlat, which describes itself as a global consumer products and services company, provides healthcare and technology solutions through e-commerce and retail channels. The company’s operations include an e-commerce communications division offering voice, data, and IoT products worldwide, as well as healthcare data management services in the United States through its Progressive Care subsidiary.

The leadership change comes as the company continues efforts to improve financial performance and what it describes as "ongoing business refocusing efforts."

In other recent news, NextPlat Corp reported its Q2 2025 earnings, revealing a decline in revenue to $13.2 million from $17 million the previous year. The company also posted an earnings per share of -$0.07, which has raised concerns among investors about its financial performance. Additionally, NextPlat has secured new healthcare contracts and implemented cost reduction measures expected to save up to $1 million annually. The company expanded a prescription management and fulfillment services subcontract to a second facility, which is anticipated to boost prescription volumes.

NextPlat also announced the late-stage development of ClearMetrX 4.0, an AI-powered healthcare analytics software, with plans for internal implementation in the fourth quarter of 2025 and a commercial rollout in the first half of 2026. In leadership developments, Rodney Barreto has been named permanent Chairman of the Board, and David Phipps has been appointed as permanent Chief Executive Officer. These appointments are part of NextPlat’s business refocusing efforts following the passing of its previous chairman and CEO earlier this year. These recent developments reflect NextPlat’s strategic initiatives amid its ongoing business refocusing plans.

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