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Note 23 - Concentrations
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

Note 23. Concentrations

 

e-Commerce Operations concentrations:

 

Customers:

 

Amazon accounted for 31.1% and 32.8% of the Company’s net revenues during the years ended December 31, 2025 and 2024, respectively. No other customer accounted for 10% or more of the Company’s net 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 years ended December 31, 2025 and 2024 (in thousands):

 

  

For the Years Ended December 31,

 
  

2025

  

2024

 
  

Amount

  

% of Total Purchases

  

Amount

  

% of Total Purchases

 

Iridium Satellite

 $2,738   22% $1,602   17%

Garmin

 $1,882   15% $1,242   13%

Globalstar Europe

 $1,373   11% $975   10%

 

Geographic:

 

The following table sets forth net revenue as to each geographic location, for the years ended December 31, 2025 and 2024 (in thousands):

 

  

Years Ended December 31,

 
  

2025

  

2024

 
  

Amount

  

% of Total

  

Amount

  

% of Total

 

Europe

 $7,451   51% $6,812   49%

North America

  4,683   32%  4,529   33%

Asia and Pacific

  1,968   13%  1,720   12%

Africa

  462   3%  683   5%

South America

  44   nm   47   nm 
  $14,608   100% $13,791   100%

 

Healthcare Operations concentrations:

 

Suppliers:

 

Progressive had significant concentrations with one vendor, McKesson. The purchases from this significant vendor were approximately 98.0% of total vendor purchases for the year ended December 31, 2025.

 

Customers:

 

Progressive’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.

 

Reimbursements from the top three significant PBMs were as follows:

 

  

Year Ended December 31, 2025

 

A

  31%

B

  18%

C

  15%

  

  

Year Ended December 31, 2024

 

A

  29%

B

  23%

C

  20%