GPOXOTCServices-Services, NECUS GAAP · USD

GPO Plus, Inc.

GPO Plus, Inc. is a Nevada-based holding company that now operates through GPOX, a direct store delivery and product distribution business focused on convenience stores, gas stations, smoke shops, vape shops, and liquor stores. It combines wholesale sourcing, selective manufacturing, weekly route-based delivery, and its PRISM+ software platform to manage inventory, routing, and store-level service.

Revenue5.5m USD
+16.2 %y/y
Operating profit (EBIT)-2.1m USD
+34.0 %y/y
EBIT margin-38.3%
+29.1 ppy/y
Net income-2.4m USD
+44.2 %y/y
Free cash flow-1.4m USD
−27.0 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-30-20-10010m USD2021: 0.83 m USD2021: EBIT -0.76 m USD20212022: 1.2 m USD2022: EBIT -29 m USD20222023: 0.65 m USD2023: EBIT -3.6 m USD20232024: 4.4 m USD2024: EBIT -4.0 m USD20242025: 4.7 m USD2025: EBIT -3.2 m USD20252026: 5.5 m USD2026: EBIT -2.1 m USD20265.5-2.1
RevenueOperating profit (EBIT)

Business

Share of revenue
DSD distribution services45 %

Weekly direct-to-store delivery, replenishment, merchandising, and hub-based logistics for retail locations.

Wholesale product sales35 %

Purchase-and-resale of fast-moving consumer goods sold to retailers at a markup.

Manufactured branded products15 %

Company-made products sold under GPOX brands or private-label style offerings.

Technology and service fees5 %

PRISM+ and related delivery/service fees tied to route management and fulfillment.

Customers

GPO Plus sells primarily to retail operators that need frequent replenishment and in-store execution, especially independent convenience stores and gas stations. It also serves specialty retail channels such as smoke shops, vape shops, and liquor stores, where product mix, shelf availability, and display execution matter. The company’s value proposition is lower stock-outs, simpler ordering, and a tailored assortment that can be refreshed weekly.

Independent convenience stores

Buy weekly replenishment and shelf management to keep high-turn items in stock without managing frequent ordering.

Gas stations

Buy convenience-store merchandise and display support to improve in-store sales and reduce out-of-stocks.

Specialty retail stores

Smoke, vape, and liquor shops buy curated products and White Glove DSD service for faster restocking.

Independent store operators

Buy a service model that gives them chain-like pricing, assortment, and replenishment support.

Strategy

The company is trying to consolidate a fragmented slice of convenience-store distribution by combining weekly DSD, selective manufacturing, and data-driven assortment planning. Its near-term focus is to add stores in existing service areas, improve execution through PRISM+, and build enough operational scale to support broader expansion. Management also relies on external financing to fund growth, so execution and capital access are both central to the strategy.

Expand store coverage in existing hubsShort term

Higher route density improves delivery economics and supports scalable DSD operations.

Improve operating execution through PRISM+Short term

Better inventory and route management should reduce stock-outs and raise service quality.

Grow higher-margin manufactured productsMedium term

Company-made products can generate better margins than pure wholesale resale.

Secure financing for growthShort term

The business needs capital to fund operations, inventory, and expansion.

Geography

The company is headquartered in Las Vegas, Nevada and its current operating footprint is centered on the United States. Management has described a regional hub in Lubbock, Texas and a plan to expand from a few hundred locations toward nationwide coverage, but the business remains early-stage and operationally concentrated. Geography matters because the model depends on route density, hub coverage, and local store relationships rather than broad international scale.

Risks

The company is still early in scaling its distribution model and has disclosed a need for additional financing, which creates dilution and going-concern-style execution risk if capital is not raised. Operationally, the business depends on route density, inventory availability, and reliable store-level execution, so service failures or weak demand can quickly pressure margins. It also faces typical small-distributor risks such as customer concentration, working-capital strain, and competition from larger distributors with better purchasing power.

Sorted by severity
Financing and dilution riskHigh

Management says it needs additional funds and may rely on equity issuance, which can dilute shareholders and delay growth if capital is unavailable.

ExposureOperationsInventoryExpansion funding
Execution risk in DSD scalingHigh

The model depends on route density, weekly service quality, and hub operations, so poor execution can hurt customer retention and economics.

ExposureStore onboardingDelivery reliabilityInventory control
Competitive pressure from larger distributorsMedium

The company is targeting a fragmented market segment that can still be competed away by larger players with scale advantages.

ExposurePricingPurchasing termsRetailer relationships
Margin volatility from product mixMedium

Wholesale resale, manufacturing, and delivery fees have different economics, so mix shifts can change gross margin materially.

Exposure: Revenue mix and profitability

Accounting

Judgemental items
Revenue recognition timing

Revenue is booked when products are shipped and invoiced, so end-of-period cut-off affects reported sales.

Impact: Quarterly revenue comparability

Inventory valuation and availability

The company said revenue improved when inventory availability increased, showing inventory directly affects sales timing and gross profit.

Impact: Revenue, gross margin, working capital

Related-party expenses

Operating expenses include management fees and salaries related to related parties, which investors should monitor for governance and cost control.

Impact: Operating expenses and cash burn

Estimates and assumptions

Management states that financial statements rely on estimates that could materially change reported results.

Impact: Expense accruals and balance sheet estimates

Publicly listed companies with a comparable business focus.

Last updated: 28/04/2026