XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Note 21 - Concentrations
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

Note 21. Concentrations

 

e-Commerce operations concentrations:

 

Customers:

 

Sales to customers through Amazon accounted for 38.4% and 49.1% of the Company’s revenues during the six months ended June 30, 2024 and 2023, respectively. No other customer accounted for 10% or more of the Company’s revenues for either period.

 

Suppliers:

 

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchases for the three and six months ended June 30, 2024 and 2023 (in thousands, unaudited).

 

  

For the Three Months Ended June 30, 2024

      

For the Three Months Ended June 30, 2023

     
                 

Iridium Satellite

 $331   13.5% $-   -%

 

  

For the Six Months Ended June 30, 2024

      

For the Six Months Ended June 30, 2023

     
                 

Iridium Satellite

 $902   19.8% $651   13.4%

Garmin

 $464   10.2% $1,087   22.4%
                 

     

Geographic:

 

The following table sets forth revenue as to each geographic location, for the  (in thousands, unaudited):

 

  

For the Three Months Ended June 30, 2024

      

For the Three Months Ended June 30, 2023

     
                 

Europe

 $1,797   51.2% $1,704   57.6%

North America

  1,293   36.8%  870   29.4%

South America

  7   0.2%  8   0.3%

Asia and Pacific

  390   11.1%  335   11.3%

Africa

  25   0.7%  40   1.4%
  $3,512   100% $2,957   100%

 

 

  

For the Six Months Ended June 30, 2024

      

For the Six Months Ended June 30, 2023

     
                 

Europe

 $3,279   51.4% $3,690   63.2%

North America

  1,757   27.6%  1,462   25.1%

South America

  30   0.5%  18   0.3%

Asia and Pacific

  803   12.6%  563   9.7%

Africa

  508   8.0%  101   1.7%
  $6,377   100% $5,834   100%

 

 

Healthcare operations concentrations:

 

Suppliers:

 

Progressive Care had significant concentrations with one vendor. The purchases from this significant vendor were 98.0% of total vendor purchases for the six months ended June 30, 2024 

 

Customers:

 

Progressive Care s trade receivables are primarily from prescription medications billed to various insurance providers. Ultimately, the insured is responsible for payment should the insurance company not reimburse Progressive Care.

 

Progressive Care derives a significant portion of sales from prescription drug sales reimbursed through prescription drug plans administered by pharmacy benefit managers (“PBM”) companies. Prescription reimbursements from our three most significant PBMs were as follows:

 

  

Six Months Ended June 30,

 
  

2024

 

A

  32%

B

  22%

C

  18%