Note 24 - Concentrations

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

Note 24. Concentrations

e-Commerce Operations concentrations:

Customers:

Amazon accounted for 32.8% and 51.6% of the Company’s revenues during the years ended December 31, 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 years ended December 31, 2024 and 2023 (in thousands):

	For the Years Ended December 31,
	2024					2023
	Amount		% of Total Purchases			Amount		% of Total Purchases
Iridium Satellite	$	1,602		16.8	%	$	913		10.9	%
Garmin	$	1,242		13.0	%	$	1,921		22.4	%
Globalstar Europe	$	975		10.2	%	$	958		11.2	%

Geographic:

The following table sets forth revenue as to each geographic location, for the years ended December 31, 2024 and 2023 (in thousands):

	Years Ended December 31,
	2024					2023
	Amount		% of Total			Amount		% of Total
Europe	$	6,812		49.4	%	$	6,687		60.9	%
North America		4,529		32.8	%		2,575		23.4	%
Asia and Pacific		1,720		12.5	%		1,510		13.8	%
Africa		683		5.0	%		143		1.3	%
South America		47		0.3	%		62		0.6	%
	$	13,791		100.0	%	$	10,977		100.0	%

Healthcare Operations concentrations:

Suppliers:

Progressive Care had significant concentrations with one vendor. The purchases from this significant vendor were approximately 98.0% of total vendor purchases for the year ended December 31, 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 generated reimbursements from three significant PBMs for the year ended December 31, 2024:

	Year Ended December 31, 2024
A		29	%
B		23	%
C		20	%