v3.26.1
Note 14 - Concentrations
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

Note 14. Concentrations

 

e-Commerce operations concentrations:

 

Customers:

 

Amazon accounted for approximately 30% and 31% of the revenues for the e-Commerce Operations reportable segment during the six months ended June 30, 2026 and 2025, respectively. No other customer accounted for 10% or more of the e-Commerce Operations reportable segment revenues for either period.

 

Suppliers:

 

The following table sets forth information as to each supplier that accounted for 10% or more of the purchases related to e-Commerce Operations for the three and six months ended June 30, 2026 and 2025 (in thousands):

 

  

For the Three Months Ended June 30,

 
  

2026

  

2025

 
  

Amount

  

% of Total Purchases

  

Amount

  

% of Total Purchases

 

Iridium Satellite

 $1,021   30% $591   29%

Globalstar

 $452   13% $403   16%

Garmin

 $404   12% $—   —%

 

 

  

For the Six Months Ended June 30,

 
  

2026

  

2025

 
  

Amount

  

% of Total Purchases

  

Amount

  

% of Total Purchases

 

Iridium Satellite

 $1,921   30%  1,388   24%

Garmin

 $773   12%  839   14%

Globalstar

 $643   10%  619   11%

 

Geographic:

 

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

 

  

For the Three Months Ended June 30,

 
  

2026

  

2025

 
  

Amount

  

% of Total

  

Amount

  

% of Total

 

Europe

 $2,309   57% $1,993   48%

North America

  1,002   25%  1,284   31%

Asia and Pacific

  514   13%  641   16%

Africa

  241   5%  188   5%

South America

  12   nm   14   nm 
  $4,078   100% $4,120   100%

 

  

For the Six Months Ended June 30,

 
  

2026

  

2025

 
  

Amount

  

% of Total

  

Amount

  

% of Total

 

Europe

 $3,830   53% $3,499   49%

North America

  2,206   30%  2,339   33%

Asia and Pacific

  927   13%  1,032   14%

Africa

  282   4%  234   4%

South America

  32   nm   22   nm 
  $7,277   100% $7,126   100%

 

Healthcare operations concentrations:

 

Suppliers:

 

Progressive Care had significant concentrations with one vendor, McKesson. The purchases from this significant vendor were approximately 99% of total vendor purchases for the six months ended June 30, 2026.

 

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.

 

Reimbursements from the top three significant PBMs were as follows:

 

  

Six Months Ended June 30, 2026

 

A

  46%

B

  13%

C

  11%