XML 32 R20.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONCENTRATIONS
 9 Months Ended
Sep. 30, 2022
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

NOTE 14 - CONCENTRATIONS

 

Customers:

 

Amazon accounted for 52.3% and 64.0% of the Company’s revenues during the nine months ended September 30, 2022 and 2021, respectively. For the three months ended September 30, 2022 and 2021, Amazon accounted for 59.2% and 64.8%, respectively. No other customer accounted for 10% or more of the Company’s revenues for either period.

 

 

NEXTPLAT CORP AND SUBSIDIARIES

FKA: ORBSAT CORP

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 14 – CONCENTRATIONS (continued)

 

Suppliers:

 

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchases for the nine months ended September 30, 2022 and 2021.

                     
   September 30, 2022       September 30, 2021     
                 
Satcom Global  $523,688    8.6%  $824,339    18.0%
Globalstar Europe  $396,222    6.5%  $508,359    11.1%
Garmin  $1,168,532    19.2%  $728,797    16.0%
Network Innovations  $718,597    11.8%  $465,417    10.2%
Cygnus Telecom  $1,213,163    19.9%  $554,998    12.2%

 

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchases for the three months ended September 30, 2022 and 2021.

 

                     
   September 30, 2022       September 30, 2021     
                 
Satcom Global  $131,239    8.0%  $303,944    19.9%
Globalstar Europe  $109,409    6.7%  $215,289    14.1%
Garmin  $281,028    17.1%  $241,230    15.8%
Network Innovations  $252,238    15.4%  $191,658    12.5%
Cygnus Telecom  $181,192    11.0%  $165,889    10.8%

 

Geographic:

 

The following table sets forth revenue as to each geographic location, for the nine months ended September 30, 2022 and 2021:

                     
   September 30, 2022       September 30, 2021     
                 
Europe  $7,019,811    77.3%   3,867,862    68.2%
North America   1,342,636    14.8%   1,243,754    21.9%
South America   32,578    0.4%   28,909    0.5%
Asia & Pacific   592,847    6.5%   472,841    8.3%
Africa   92,211    1.0%   54,600    1.0%
Revenue  $9,080,083         5,667,966      

 

The following table sets forth revenue as to each geographic location, for the three months ended September 30, 2022 and 2021:

 

                     
   September 30, 2022       September 30, 2021     
                 
Europe  $1,954,967    74.3%  $1,469,172    65.3%
North America   442,678    16.8%   571,603    25.4%
South America   10,273    0.4%   13,035    0.6%
Asia & Pacific   195,307    7.4%   182,001    8.1%
Africa   27,601    1.0%   14,467    0.6%
Revenue  $2,630,826        $2,250,278