Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 09, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001058307 | |
Entity Registrant Name | NextPlat Corp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-40447 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 65-0783722 | |
Entity Address, Address Line One | 3250 Mary St., Suite 410 | |
Entity Address, City or Town | Coconut Grove | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33133 | |
City Area Code | 305 | |
Local Phone Number | 560-5355 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 18,699,596 | |
Warrant [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Warrants | |
Trading Symbol | NXPLW | |
Security Exchange Name | NASDAQ | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock, par value $0.0001 | |
Trading Symbol | NXPL | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Current Assets | ||
Cash | $ 20,605,670 | $ 18,891,232 |
Accounts receivable | 589,119 | 383,786 |
Inventory | 2,066,214 | 1,286,612 |
Unbilled revenue | 175,410 | 141,702 |
VAT receivable | 432,777 | 432,769 |
Prepaid expenses – current portion | 347,341 | 45,679 |
Total Current Assets | 24,216,531 | 21,181,780 |
Property and equipment, net | 1,032,006 | 1,245,802 |
Right of use assets, net | 756,819 | 854,862 |
Intangible assets, net | 37,500 | 50,001 |
Equity method investment | 4,820,888 | 5,260,525 |
Prepaid expenses – long term portion | 49,373 | 49,078 |
Total Other Assets | 5,664,580 | 6,214,466 |
Total Assets | 30,913,117 | 28,642,048 |
Current Liabilities | ||
Accounts payable and accrued expenses | 1,284,470 | 1,518,095 |
Contract liabilities | 58,873 | 36,415 |
Note payable Coronavirus loans– current portion | 63,171 | 60,490 |
Due to related party | 20,000 | 28,467 |
Operating lease liabilities - current | 204,465 | 208,660 |
Income taxes payable | 160,974 | 94,244 |
Liabilities from discontinued operations | 0 | 112,397 |
Total Current Liabilities | 1,791,953 | 2,058,768 |
Long Term Liabilities: | ||
Notes payable Coronavirus – long term | 131,607 | 156,266 |
Operating lease liabilities – long term | 567,071 | 649,895 |
Total Liabilities | 2,490,631 | 2,864,929 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Preferred stock ($0.0001 par value; 3,333,333 shares authorized) | 0 | 0 |
Common stock ($0.0001 par value; 50,000,000 shares authorized, 18,699,596 and 14,402,025 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively) | 1,870 | 1,440 |
Additional paid-in capital | 65,171,061 | 56,963,200 |
Accumulated deficit | (36,674,775) | (31,146,804) |
Accumulated other comprehensive loss | (75,670) | (40,717) |
Total Stockholders’ Equity | 28,422,486 | 25,777,119 |
Total Liabilities and Stockholders’ Equity | $ 30,913,117 | $ 28,642,048 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 3,333,333 | 3,333,333 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 18,699,596 | 14,402,025 |
Common stock, shares outstanding (in shares) | 18,699,596 | 14,402,025 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue | $ 2,957,362 | $ 2,871,479 | $ 5,833,515 | $ 6,449,257 |
Cost of sales | 2,113,491 | 2,304,090 | 4,368,830 | 5,080,775 |
Gross profit | 843,871 | 567,389 | 1,464,685 | 1,368,482 |
Operating expenses: | ||||
Selling, general and administrative | 2,519,538 | 1,160,855 | 3,308,173 | 1,735,205 |
Salaries, wages and payroll taxes | 967,756 | 670,797 | 1,555,875 | 1,306,373 |
Professional fees | 543,818 | 156,990 | 864,747 | 483,203 |
Depreciation and amortization | 168,166 | 111,996 | 329,759 | 211,565 |
Total operating expenses | 4,199,278 | 2,100,638 | 6,058,554 | 3,736,346 |
Loss before other (income) expense | (3,355,407) | (1,533,249) | (4,593,869) | (2,367,864) |
Other (income) expense: | ||||
Interest expense | 4,569 | 3,681 | 9,708 | 6,924 |
Interest earned | (172,620) | (4,616) | (182,748) | (9,572) |
Other income | (265,845) | 0 | (315,845) | 0 |
Foreign currency exchange rate variance | (40,266) | 123,547 | (68,673) | 140,728 |
Total other (income) expense | (474,162) | 122,612 | (557,558) | 138,080 |
Loss before income taxes | (2,881,245) | (1,655,861) | (4,036,311) | (2,505,944) |
Income taxes | (52,023) | 0 | (52,023) | 0 |
Loss before equity method investment | (2,933,268) | (1,655,861) | (4,088,334) | (2,505,944) |
Equity in net loss of affiliate | (1,407,473) | 0 | (1,439,637) | 0 |
Net loss | (4,340,741) | (1,655,861) | (5,527,971) | (2,505,944) |
Comprehensive loss: | ||||
Net loss | (4,340,741) | (1,655,861) | (5,527,971) | (2,505,944) |
Foreign currency translation adjustments | (11,968) | (4,788) | (34,953) | (20,118) |
Comprehensive loss | $ (4,352,709) | $ (1,660,649) | $ (5,562,924) | $ (2,526,062) |
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | ||||
Basic weighted average common shares outstanding (in shares) | 18,071,802 | 9,293,096 | 16,253,730 | 9,230,335 |
Basic weighted average loss per common share (in dollars per share) | $ (0.24) | $ (0.18) | $ (0.34) | $ (0.27) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 7,053,146 | ||||
Balance at Dec. 31, 2021 | $ 705 | $ 39,513,093 | $ (21,986,215) | $ 3,236 | $ 17,530,819 |
Issuance of common stock related to restricted stock award (in shares) | 10,000 | ||||
Issuance of common stock related to restricted stock award | $ 1 | 34,799 | 0 | 0 | 34,800 |
Comprehensive loss | (15,330) | (15,330) | |||
Net loss | (850,083) | (850,083) | |||
Issuance of common stock related to April offering (in shares) | 2,229,950 | ||||
Issuance of common stock related to April offering | $ 223 | 7,004,815 | 0 | 0 | 7,005,038 |
Balance (in shares) at Mar. 31, 2022 | 9,293,096 | ||||
Balance at Mar. 31, 2022 | $ 929 | 46,552,707 | (22,836,298) | (12,094) | 23,705,244 |
Balance (in shares) at Dec. 31, 2021 | 7,053,146 | ||||
Balance at Dec. 31, 2021 | $ 705 | 39,513,093 | (21,986,215) | 3,236 | 17,530,819 |
Net loss | (2,505,944) | ||||
Balance (in shares) at Jun. 30, 2022 | 9,293,096 | ||||
Balance at Jun. 30, 2022 | $ 929 | 47,206,953 | (24,492,159) | (16,882) | 22,698,841 |
Balance (in shares) at Mar. 31, 2022 | 9,293,096 | ||||
Balance at Mar. 31, 2022 | $ 929 | 46,552,707 | (22,836,298) | (12,094) | 23,705,244 |
Issuance of common stock related to restricted stock award | 0 | 654,246 | 0 | 0 | 654,246 |
Comprehensive loss | 0 | 0 | 0 | (4,788) | (4,788) |
Net loss | $ 0 | 0 | (1,655,861) | 0 | (1,655,861) |
Balance (in shares) at Jun. 30, 2022 | 9,293,096 | ||||
Balance at Jun. 30, 2022 | $ 929 | 47,206,953 | (24,492,159) | (16,882) | 22,698,841 |
Balance (in shares) at Dec. 31, 2022 | 14,402,025 | ||||
Balance at Dec. 31, 2022 | $ 1,440 | 56,963,200 | (31,146,804) | (40,717) | 25,777,119 |
Issuance of common stock related to restricted stock award (in shares) | 39,000 | ||||
Issuance of common stock related to restricted stock award | $ 4 | 60,536 | 0 | 0 | 60,540 |
Comprehensive loss | 0 | 0 | 0 | (22,985) | (22,985) |
Net loss | $ 0 | 0 | (1,187,230) | 0 | (1,187,230) |
Balance (in shares) at Mar. 31, 2023 | 14,441,025 | ||||
Balance at Mar. 31, 2023 | $ 1,444 | 57,023,736 | (32,334,034) | (63,702) | 24,627,444 |
Balance (in shares) at Dec. 31, 2022 | 14,402,025 | ||||
Balance at Dec. 31, 2022 | $ 1,440 | 56,963,200 | (31,146,804) | (40,717) | 25,777,119 |
Net loss | (5,527,971) | ||||
Balance (in shares) at Jun. 30, 2023 | 18,699,596 | ||||
Balance at Jun. 30, 2023 | $ 1,870 | 65,171,061 | (36,674,775) | (75,670) | 28,422,486 |
Balance (in shares) at Mar. 31, 2023 | 14,441,025 | ||||
Balance at Mar. 31, 2023 | $ 1,444 | 57,023,736 | (32,334,034) | (63,702) | 24,627,444 |
Issuance of common stock related to restricted stock award (in shares) | 725,000 | ||||
Issuance of common stock related to restricted stock award | $ 73 | 1,183,061 | 0 | 0 | 1,183,134 |
Comprehensive loss | 0 | 0 | 0 | (11,968) | (11,968) |
Net loss | $ 0 | 0 | (4,340,741) | 0 | (4,340,741) |
Issuance of common stock related to April offering (in shares) | 3,428,571 | ||||
Issuance of common stock related to April offering | $ 343 | 5,999,657 | 0 | 0 | 6,000,000 |
Issuance of common stock related to exercise of warrants (in shares) | 105,000 | ||||
Issuance of common stock related to exercise of warrants | $ 10 | 183,740 | 0 | 0 | 183,750 |
Stock-based compensation in connection with options granted | $ 0 | 780,867 | 0 | 0 | 780,867 |
Balance (in shares) at Jun. 30, 2023 | 18,699,596 | ||||
Balance at Jun. 30, 2023 | $ 1,870 | $ 65,171,061 | $ (36,674,775) | $ (75,670) | $ 28,422,486 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (5,527,971) | $ (2,505,944) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 317,259 | 199,065 |
Amortization of intangible asset | 12,500 | 12,500 |
Amortization of right of use assets | 98,043 | 0 |
Share of loss from equity method investment | 1,439,637 | 0 |
Stock-based compensation | 2,024,541 | 689,046 |
Change in operating assets and liabilities: | ||
Accounts receivable | (205,334) | 4,921 |
Inventory | (779,602) | (350,729) |
Unbilled revenue | (33,708) | (20,394) |
Prepaid expense | (301,662) | 39,988 |
Other current assets | 0 | 45,666 |
VAT receivable | (8) | 31,876 |
Accounts payable and accrued expenses | (233,623) | 22,354 |
Lease liabilities | (87,019) | (7,041) |
Income taxes payable | 66,730 | (39,905) |
Contract liabilities | 22,458 | (9,655) |
Liabilities from discontinued operations | (112,397) | 0 |
Net cash used in operating activities | (3,300,156) | (1,888,252) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (103,463) | (395,245) |
Capital contribution to equity method investee | (1,000,000) | 0 |
Net cash used in investing activities | (1,103,463) | (395,245) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from (repayments to) note payable, related party, net | (8,467) | (35,308) |
Proceeds from common stock offering | 6,000,000 | 5,605,038 |
Proceeds from exercise of warrants | 183,750 | 0 |
Repayments to note payable Coronavirus loans | (21,978) | (30,413) |
Net cash provided by financing activities | 6,153,305 | 5,539,317 |
Effect of exchange rate on cash | (35,248) | (56,076) |
Net (decrease) increase in cash | 1,714,438 | 3,199,744 |
Cash beginning of period | 18,891,232 | 17,267,978 |
Cash end of period | 20,605,670 | 20,467,722 |
SUPPLEMENTAL CASH FLOW INFORMATION | ||
Interest | 173,040 | 6,102 |
Income tax | 0 | 38,555 |
Non-cash adjustments during the period for | ||
Recognition of operating lease liability | $ 0 | $ 904,744 |
Note 1 - Organization & Nature
Note 1 - Organization & Nature of Operations. | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. NextPlat Corp, a Nevada corporation (the “Company”, “NextPlat”, “we”), formerly Orbsat Corp was incorporated in 1997. two 25 third Web3 Our wholly-owned subsidiary, Global Telesat Communications Limited (“GTC”), was formed under the laws of England and Wales in 2008. February 19, 2015, Our wholly-owned subsidiary, Orbital Satcom Corp. (“Orbital Satcom”), a Nevada corporation, was formed on November 14, 2014. On June 22, 2022, not |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Principles of Consolidation | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 2. The accompanying Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), consistent in all material respects with those applied in the 2022 10 not 2022 10 not The accompanying Unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. Certain 2022 2023 not Use of Estimates In preparing the Condensed Consolidated Financial Statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition, and revenues and expenses for the years then ended. Actual results may not |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3. The significant accounting policies of the Company were described in Note 1. 10 December 31, 2022 no three six June 30, 2023 Cash The Company places its cash with high credit quality financial institutions. The Company’s account at this institution is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. All cash amounts in excess of $250,000, approximately $0.7 million, are unsecured. In April 2023, Foreign Currency Translation The Company’s reporting currency is U.S. Dollars. The accounts of one The relevant translation rates are as follows: for the six June 30, 2023 six June 30, 2022 December 31, 2022 Unearned Revenue Contract liabilities are shown separately in the condensed consolidated balance sheets as current liabilities. At June 30, 2023 December 31, 2022 Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In June 2016, 2016 13, 326 2016 13” November 2018, 2018 19, 326, not April 2019, 2019 04, 326, 815, 825, 2016 13. March 2020, 2020 03, 842 326. 2016 13 December 15, 2022, January 1, 2023 no Other accounting standards that have been issued or proposed by FASB that do not not not not Subsequent Events The Company has evaluated subsequent events through August 11, 2023 19 |
Note 4 - Earnings (Loss) Per Sh
Note 4 - Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 4. Net income (loss) per common share is calculated in accordance with Accounting Standards Codification (“ASC”) Topic 260: 260” not Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss attributable to common shareholders $ (4,340,741 ) $ (1,655,861 ) $ (5,527,971 ) $ (2,505,944 ) Basic weighted average common shares outstanding 18,071,802 9,293,096 16,253,730 9,230,335 Potentially dilutive common shares - - - - Diluted weighted average common shares outstanding 18,071,802 9,293,096 16,253,730 9,230,335 Basic weighted average loss per common share $ (0.24 ) $ (0.18 ) $ (0.34 ) $ (0.27 ) Diluted weighted average loss per common share $ (0.24 ) $ (0.18 ) $ (0.34 ) $ (0.27 ) |
Note 5 - Inventory
Note 5 - Inventory | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 5. At June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 (Unaudited) (Audited) Finished goods $ 2,066,214 $ 1,286,612 Less reserve for obsolete inventory - - Total $ 2,066,214 $ 1,286,612 |
Note 6 - VAT Receivable
Note 6 - VAT Receivable | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounts and Nontrade Receivable [Text Block] | Note 6. On January 1, 2021, June 30, 2023 December 31, 2022 $433,000 $433,000 |
Note 7 - Prepaid Expenses
Note 7 - Prepaid Expenses | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | Note 7. Prepaid expenses current and long term amounted to approximately $347,000 $49,000 June 30, 2023 $46,000 $49,000 December 31, 2022 |
Note 8 - Property and Equipment
Note 8 - Property and Equipment, Net | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 8. Property and equipment, net consisted of the following: June 30, 2023 December 31, 2022 (Unaudited) (Audited) Office furniture and fixtures $ 138,529 $ 128,252 Computer equipment 77,985 72,345 Rental equipment 53,560 37,531 Appliques 2,160,096 2,160,096 Leasehold improvements 47,856 47,792 Website development 739,089 665,030 Property and equipment gross 3,217,115 3,111,046 Less: accumulated depreciation (2,185,109 ) (1,865,244 ) Property and equipment, net $ 1,032,006 $ 1,245,802 Depreciation expense was approximately $0.3 million and $0.2 million for the six June 30, 2023 2022 |
Note 9 - Intangible Assets, Net
Note 9 - Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 9. Intangible assets, net consist of customer contracts purchased as part of the GTC acquisition in 2014. Amortization of customer contracts is included in depreciation and amortization in the accompanying Condensed Consolidated Statements of Comprehensive Loss. For the six June 30, 2023 2022 2023 (six months) $ 12,500 2024 25,000 Total $ 37,500 |
Note 10 - Equity Method Investm
Note 10 - Equity Method Investment | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | Note 10. On May 5, 2023, three May 9, 2023, Simultaneous with the closing, Progressive Care entered into a Debt Conversion Agreement (the “DCA”) with NextPlat and the other holders (the “Holders”) of that certain Amended and Restated Secured Convertible Promissory Note, dated as of September 2, 2022, three At the same time, Progressive Care and NextPlat entered into a First Amendment (the “Amendment”) to that certain Securities Purchase Agreement dated November 16, 2022 ( three The following summarizes the Company’s consolidated balance sheet description equity method investment as follows: Carrying Amount December 31, 2022, beginning balance $ 5,260,525 Investment in Progressive Care Inc. and Subsidiaries 1,000,000 Portion of loss from Progressive Care, Inc. and Subsidiaries (1,603,649 ) Depreciation expense due to cost basis difference (1) (49,548 ) Interest earned from convertible note receivable 21,443 Interest earned from amortization of premium on convertible note receivable 199,061 Elimination of intercompany interest earned (6,944 ) June 30, 2023, carrying amount $ 4,820,888 The following summarizes the Company’s consolidated statements of operations and comprehensive loss description equity in net loss of affiliate for the six June 30, 2023 For the Six Month Ended June 30, 2023 Portion of loss from Progressive Care, Inc. and Subsidiaries $ (1,603,649 ) Depreciation expense due to cost basis difference (1) (49,548 ) Interest earned from convertible note receivable 21,443 Interest earned from amortization of premium on convertible note receivable 199,061 Elimination of intercompany interest earned (6,944 ) Equity in net loss of affiliate $ (1,439,637 ) ( 1 |
Note 11 - Accounts Payable and
Note 11 - Accounts Payable and Accrued Expenses | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 11. Accounts payable and accrued expenses consisted of the following: June 30, 2023 December 31, 2022 (Unaudited) (Audited) Accounts payable $ 1,163,670 $ 1,194,067 Rental deposits 4,517 4,325 Customer deposits payable 59,971 86,462 Accrued wages & payroll liabilities 30,914 23,040 VAT liability & sales tax payable 9,691 5,685 U.K. income tax payable 5,973 23,771 Accrued legal fees - 84,685 Pre-merger accrued other liabilities - 88,448 Accrued interest 299 356 Accrued other liabilities 9,435 7,256 Total $ 1,284,470 $ 1,518,095 |
Note 12 - Coronavirus Loan
Note 12 - Coronavirus Loan | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 12. On July 16, 2020 ( £250,000, July 16, 2021, July 16, 2020), July 15, 2026, first £4,166.67 13 July 16, 2020. 5 As of June 30, 2023 December 31, 2022 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 13. Equity Preferred Stock We have authorized 3,333,333 shares of $0.0001 par value of preferred stock. No preferred stock was outstanding for any year presented. As of June 30, 2023 Common Stock We have authorized 50,000,000 shares of $0.0001 par value common stock. As of June 30, 2023 Listing on the Nasdaq Capital Market Our common stock and warrants have been trading on the Nasdaq Capital Market under the symbols “NXPL” and “NXPLW,” respectively, since January 21, 2022. January 21, 2022, April 2023 On April 5, 2023, April 4, 2023. April 11, 2023, 4 2 506 not not may not |
Note 14 - Stock-based Compensat
Note 14 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 14. For the six June 30, 2023 2022 six June 30, 2023 2022 |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 15. On February 1, 2023, May 2023 six June 30, 2023 On July 12, 2022, September 22, 2022, no December 31, 2022. April 2023, |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 16. Litigation On June 22, 2021, not June 2021. not not not From time to time, the Company may not no |
Note 17 - Leases
Note 17 - Leases | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 17. The Company has entered into a number of lease arrangements under which the Company is the lessee. These leases are classified as operating leases. In addition, the Company has elected the short-term lease practical expedient in ASC Topic 842 one Operating Lease Agreements On December 2, 2021, June 13, 2022, August 31, 2027. For our facilities in Poole, England, we rent office and warehouse space of approximately 2,660 square feet for £30,000 October 6, 2022, October 31, 2023. The Florida lease does not not The rate implicit to the Florida lease is not six June 30, 2023 December 31, 2022 360 10, June 30, 2023 December 31, 2022 not We monitor for events or changes in circumstances that require a reassessment of one |
Note 18 - Concentrations
Note 18 - Concentrations | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 18. Customers: Sales to customers through Amazon accounted for 49.1% and 49.5% of the Company’s revenues during the six June 30, 2023 2022 No 10% Suppliers: The following table sets forth information as to each supplier that accounted for 10% six June 30, 2023 2022 For the Six Months Ended June 30, 2023 For the Six Months Ended June 30, 2022 Iridium Satellite $ 651,000 13.4 % $ - - % Globalstar Europe $ 535,000 11.0 % $ 212,000 4.2 % Garmin $ 1,087,000 22.4 % $ 999,000 19.7 % Network Innovations $ 635,000 13.1 % $ 521,000 10.3 % Cygnus Telecom $ 373,000 7.7 % $ 1,196,000 23.6 % The following table sets forth information as to each supplier that accounted for 10% three June 30, 2023 2022 For the Three Months Ended June 30, 2023 For the Three Months Ended June 30, 2022 Globalstar Europe $ 267,000 14.0 % $ 120,000 5.7 % Garmin $ 479,000 25.3 % $ 583,000 27.8 % Network Innovations $ 295,000 15.6 % $ 201,000 9.6 % Cygnus Telecom $ 58,000 3.0 % $ 255,000 12.2 % Geographic The following table sets forth revenue as to each geographic location, for the six June 30, 2023 2022 For the Six Months Ended June 30, 2023 For the Six Months Ended June 30, 2022 Europe $ 3,690,340 63.3 % $ 5,064,843 78.5 % North America 1,461,702 25.1 % 899,958 14.0 % South America 17,904 0.3 % 22,306 0.3 % Asia & Pacific 562,937 9.7 % 397,540 6.2 % Africa 100,632 1.6 % 64,610 1.0 % $ 5,833,515 100.0 % $ 6,449,257 100.0 % The following table sets forth revenue as to each geographic location, for the three June 30, 2023 2022 For the Three Months Ended June 30, 2023 For the Three Months Ended June 30, 2022 Europe $ 1,704,321 57.6 % $ 2,165,445 75.4 % North America 869,682 29.4 % 462,742 16.1 % South America 8,290 0.3 % 10,533 0.4 % Asia & Pacific 335,290 11.3 % 201,371 7.0 % Africa 39,779 1.4 % 31,388 1.1 % $ 2,957,362 100.0 % $ 2,871,479 100.0 % |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 19. Change in Accounting Method - Equity Method Investment – Progressive Care, Inc. On July 1, 2023, On June 30, 2023, As a result of the common stock warrant purchases and the entry into the voting agreement, the Company concluded that there was a change in control of Progressive Care by NextPlat under the voting interest model in U.S. GAAP. As of July 1, 2023, July 1, 2023, Note Receivable – Next Borough Capital Management, LLC On July 7, 2023, July 7, 2024, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash The Company places its cash with high credit quality financial institutions. The Company’s account at this institution is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. All cash amounts in excess of $250,000, approximately $0.7 million, are unsecured. In April 2023, |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The Company’s reporting currency is U.S. Dollars. The accounts of one The relevant translation rates are as follows: for the six June 30, 2023 six June 30, 2022 December 31, 2022 |
Revenue from Contract with Customer [Policy Text Block] | Unearned Revenue Contract liabilities are shown separately in the condensed consolidated balance sheets as current liabilities. At June 30, 2023 December 31, 2022 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In June 2016, 2016 13, 326 2016 13” November 2018, 2018 19, 326, not April 2019, 2019 04, 326, 815, 825, 2016 13. March 2020, 2020 03, 842 326. 2016 13 December 15, 2022, January 1, 2023 no Other accounting standards that have been issued or proposed by FASB that do not not not not |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events The Company has evaluated subsequent events through August 11, 2023 19 |
Note 4 - Earnings (Loss) Per _2
Note 4 - Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss attributable to common shareholders $ (4,340,741 ) $ (1,655,861 ) $ (5,527,971 ) $ (2,505,944 ) Basic weighted average common shares outstanding 18,071,802 9,293,096 16,253,730 9,230,335 Potentially dilutive common shares - - - - Diluted weighted average common shares outstanding 18,071,802 9,293,096 16,253,730 9,230,335 Basic weighted average loss per common share $ (0.24 ) $ (0.18 ) $ (0.34 ) $ (0.27 ) Diluted weighted average loss per common share $ (0.24 ) $ (0.18 ) $ (0.34 ) $ (0.27 ) |
Note 5 - Inventory (Tables)
Note 5 - Inventory (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2023 December 31, 2022 (Unaudited) (Audited) Finished goods $ 2,066,214 $ 1,286,612 Less reserve for obsolete inventory - - Total $ 2,066,214 $ 1,286,612 |
Note 8 - Property and Equipme_2
Note 8 - Property and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2023 December 31, 2022 (Unaudited) (Audited) Office furniture and fixtures $ 138,529 $ 128,252 Computer equipment 77,985 72,345 Rental equipment 53,560 37,531 Appliques 2,160,096 2,160,096 Leasehold improvements 47,856 47,792 Website development 739,089 665,030 Property and equipment gross 3,217,115 3,111,046 Less: accumulated depreciation (2,185,109 ) (1,865,244 ) Property and equipment, net $ 1,032,006 $ 1,245,802 |
Note 9 - Intangible Assets, N_2
Note 9 - Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2023 (six months) $ 12,500 2024 25,000 Total $ 37,500 |
Note 10 - Equity Method Inves_2
Note 10 - Equity Method Investment (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Carrying Amount December 31, 2022, beginning balance $ 5,260,525 Investment in Progressive Care Inc. and Subsidiaries 1,000,000 Portion of loss from Progressive Care, Inc. and Subsidiaries (1,603,649 ) Depreciation expense due to cost basis difference (1) (49,548 ) Interest earned from convertible note receivable 21,443 Interest earned from amortization of premium on convertible note receivable 199,061 Elimination of intercompany interest earned (6,944 ) June 30, 2023, carrying amount $ 4,820,888 For the Six Month Ended June 30, 2023 Portion of loss from Progressive Care, Inc. and Subsidiaries $ (1,603,649 ) Depreciation expense due to cost basis difference (1) (49,548 ) Interest earned from convertible note receivable 21,443 Interest earned from amortization of premium on convertible note receivable 199,061 Elimination of intercompany interest earned (6,944 ) Equity in net loss of affiliate $ (1,439,637 ) |
Note 11 - Accounts Payable an_2
Note 11 - Accounts Payable and Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | June 30, 2023 December 31, 2022 (Unaudited) (Audited) Accounts payable $ 1,163,670 $ 1,194,067 Rental deposits 4,517 4,325 Customer deposits payable 59,971 86,462 Accrued wages & payroll liabilities 30,914 23,040 VAT liability & sales tax payable 9,691 5,685 U.K. income tax payable 5,973 23,771 Accrued legal fees - 84,685 Pre-merger accrued other liabilities - 88,448 Accrued interest 299 356 Accrued other liabilities 9,435 7,256 Total $ 1,284,470 $ 1,518,095 |
Note 18 - Concentrations (Table
Note 18 - Concentrations (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | For the Six Months Ended June 30, 2023 For the Six Months Ended June 30, 2022 Iridium Satellite $ 651,000 13.4 % $ - - % Globalstar Europe $ 535,000 11.0 % $ 212,000 4.2 % Garmin $ 1,087,000 22.4 % $ 999,000 19.7 % Network Innovations $ 635,000 13.1 % $ 521,000 10.3 % Cygnus Telecom $ 373,000 7.7 % $ 1,196,000 23.6 % For the Three Months Ended June 30, 2023 For the Three Months Ended June 30, 2022 Globalstar Europe $ 267,000 14.0 % $ 120,000 5.7 % Garmin $ 479,000 25.3 % $ 583,000 27.8 % Network Innovations $ 295,000 15.6 % $ 201,000 9.6 % Cygnus Telecom $ 58,000 3.0 % $ 255,000 12.2 % For the Six Months Ended June 30, 2023 For the Six Months Ended June 30, 2022 Europe $ 3,690,340 63.3 % $ 5,064,843 78.5 % North America 1,461,702 25.1 % 899,958 14.0 % South America 17,904 0.3 % 22,306 0.3 % Asia & Pacific 562,937 9.7 % 397,540 6.2 % Africa 100,632 1.6 % 64,610 1.0 % $ 5,833,515 100.0 % $ 6,449,257 100.0 % For the Three Months Ended June 30, 2023 For the Three Months Ended June 30, 2022 Europe $ 1,704,321 57.6 % $ 2,165,445 75.4 % North America 869,682 29.4 % 462,742 16.1 % South America 8,290 0.3 % 10,533 0.4 % Asia & Pacific 335,290 11.3 % 201,371 7.0 % Africa 39,779 1.4 % 31,388 1.1 % $ 2,957,362 100.0 % $ 2,871,479 100.0 % |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Details Textual) | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2022 |
Cash, FDIC Insured Amount | $ 250,000 | ||
Cash, Uninsured Amount | 700,000 | ||
Contract with Customer, Liability | $ 59,000 | $ 36,000 | |
United Kingdom, Pounds | Closing Rate [Member] | |||
Foreign Currency Exchange Rate, Translation | 1.26 | 1.21 | 1.22 |
United Kingdom, Pounds | Quarterly Average Rate [Member] | |||
Foreign Currency Exchange Rate, Translation | 1.25 | 1.24 | 1.26 |
Maximum [Member] | |||
Cash, FDIC Insured Amount | $ 250,000 |
Note 4 - Earnings (Loss) Per _3
Note 4 - Earnings (Loss) Per Share - Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net loss attributable to common shareholders | $ (4,340,741) | $ (1,655,861) | $ (5,527,971) | $ (2,505,944) |
Basic weighted average common shares outstanding (in shares) | 18,071,802 | 9,293,096 | 16,253,730 | 9,230,335 |
Potentially dilutive common shares (in shares) | 0 | 0 | 0 | 0 |
Diluted weighted average common shares outstanding (in shares) | 18,071,802 | 9,293,096 | 16,253,730 | 9,230,335 |
Basic weighted average loss per common share (in dollars per share) | $ (0.24) | $ (0.18) | $ (0.34) | $ (0.27) |
Diluted weighted average loss per common share (in dollars per share) | $ (0.24) | $ (0.18) | $ (0.34) | $ (0.27) |
Note 5 - Inventory - Summary of
Note 5 - Inventory - Summary of Inventory (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Finished goods | $ 2,066,214 | $ 1,286,612 |
Less reserve for obsolete inventory | 0 | 0 |
Total | $ 2,066,214 | $ 1,286,612 |
Note 6 - VAT Receivable (Detail
Note 6 - VAT Receivable (Details Textual) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Value Added Tax Receivable, Current | $ 432,777 | $ 432,769 |
Note 7 - Prepaid Expenses (Deta
Note 7 - Prepaid Expenses (Details Textual) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Prepaid Expense, Current | $ 347,341 | $ 45,679 |
Prepaid Expense, Noncurrent | $ 49,373 | $ 49,078 |
Note 8 - Property and Equipme_3
Note 8 - Property and Equipment, Net (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Depreciation | $ 317,259 | $ 199,065 |
Note 8 - Property and Equipme_4
Note 8 - Property and Equipment, Net - Summary of Property and Equipment (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Property and equipment gross | $ 3,217,115 | $ 3,111,046 |
Less: accumulated depreciation | (2,185,109) | (1,865,244) |
Property and equipment, net | 1,032,006 | 1,245,802 |
Furniture and Fixtures [Member] | ||
Property and equipment gross | 138,529 | 128,252 |
Computer Equipment [Member] | ||
Property and equipment gross | 77,985 | 72,345 |
Rental Equipment [Member] | ||
Property and equipment gross | 53,560 | 37,531 |
Appliques [Member] | ||
Property and equipment gross | 2,160,096 | 2,160,096 |
Leasehold Improvements [Member] | ||
Property and equipment gross | 47,856 | 47,792 |
Website Development [Member] | ||
Property and equipment gross | $ 739,089 | $ 665,030 |
Note 9 - Intangible Assets, N_3
Note 9 - Intangible Assets, Net (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Amortization of Intangible Assets | $ 12,500 | $ 12,500 |
Note 9 - Intangible Assets, N_4
Note 9 - Intangible Assets, Net - Future Amortization of Intangible Assets (Details) | Jun. 30, 2023 USD ($) |
2023 (six months) | $ 12,500 |
2024 | 25,000 |
Total | $ 37,500 |
Note 10 - Equity Method Inves_3
Note 10 - Equity Method Investment (Details Textual) $ / shares in Units, $ in Thousands | May 05, 2023 USD ($) $ / shares shares | Jun. 30, 2023 USD ($) $ / shares | Dec. 31, 2022 $ / shares | Sep. 02, 2022 USD ($) |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | ||
Progressive Care [Member] | NextPlat Corp [Member] | Debt Converted to Common Stock [Member] | ||||
Debt Conversion, Original Debt, Amount | $ | $ 2,900 | |||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 2.20 | |||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 570,599 | |||
Progressive Care [Member] | NextPlat Corp [Member] | Debt Conversion Agreement [Member] | ||||
Debt Instrument, Face Amount | $ | $ 2,800 | |||
Progressive Care [Member] | NextPlat Corp [Member] | Amendment [Member] | ||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 2.20 | |||
Debt Instrument, Term (Year) | 3 years | |||
Maximum Secured Convertible Debentures Purchased According to Agreement | $ | $ 10,000 | |||
Long-Term Debt | $ | $ 0 | |||
Progressive Care [Member] | ||||
Investment Owned, Balance, Shares (in shares) | shares | 455,000 | |||
Investment Owned, Price Per Share (in dollars per share) | $ 2.20 | |||
Investment Owned, Cost | $ | $ 1,000 | |||
Unit, Number of Common Stock | 1 | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | |||
Unit, Number of Warrants | 1 | |||
Progressive Care [Member] | PIPE Warrant [Member] | ||||
Warrants and Rights Outstanding, Term (Year) | 3 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.20 | |||
Progressive Care [Member] | Conversion Warrants [Member] | ||||
Warrants and Rights Outstanding, Term (Year) | 3 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.20 | |||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 |
Note 10 - Equity Method Inves_4
Note 10 - Equity Method Investment - Summary of Equity Method Investment (Details) - Progressive Care [Member] | 6 Months Ended | |
Jun. 30, 2023 USD ($) | ||
December 31, 2022, beginning balance | $ 5,260,525 | |
Investment in Progressive Care Inc. and Subsidiaries | 1,000,000 | |
Portion of loss from Progressive Care, Inc. and Subsidiaries | (1,603,649) | |
Depreciation expense due to cost basis difference (1) | (49,548) | [1] |
Interest earned from convertible note receivable | 21,443 | |
Interest earned from amortization of premium on convertible note receivable | 199,061 | |
Elimination of intercompany interest earned | (6,944) | |
June 30, 2023, carrying amount | 4,820,888 | |
Equity in net loss of affiliate | $ (1,439,637) | |
[1]NextPlat records depreciation expense on its estimated cost basis difference which is subject to change |
Note 11 - Accounts Payable an_3
Note 11 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expense (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Accounts payable | $ 1,163,670 | $ 1,194,067 |
Rental deposits | 4,517 | 4,325 |
Customer deposits payable | 59,971 | 86,462 |
Accrued wages & payroll liabilities | 30,914 | 23,040 |
VAT liability & sales tax payable | 9,691 | 5,685 |
U.K. income tax payable | 5,973 | 23,771 |
Accrued legal fees | 0 | 84,685 |
Pre-merger accrued other liabilities | 0 | 88,448 |
Accrued interest | 299 | 356 |
Accrued other liabilities | 9,435 | 7,256 |
Total | $ 1,284,470 | $ 1,518,095 |
Note 12 - Coronavirus Loan (Det
Note 12 - Coronavirus Loan (Details Textual) | Jul. 16, 2020 GBP (£) | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jul. 16, 2020 USD ($) | Jul. 16, 2020 GBP (£) |
Notes Payable, Current | $ 63,171 | $ 60,490 | |||
Notes Payable, Noncurrent | 131,607 | 156,266 | |||
Coronavirus Loans [Member] | HSBC UK Bank PLC [Member] | |||||
Debt Instrument, Face Amount | $ 338,343 | £ 250,000 | |||
Foreign Currency Exchange Rate, Translation | 1.3533720 | 1.3533720 | |||
Debt Instrument, Interest Rate, Effective Percentage | 0.10% | 0.10% | |||
Debt Instrument, Term (Year) | 6 years | ||||
Debt Instrument, Periodic Payment, Principal | £ | £ 4,166.67 | ||||
Debt Instrument, Prepayment Limit, Percentage of Balance of Debenture | 10% | 10% | |||
Notes Payable, Current | 63,000 | 60,000 | |||
Notes Payable, Noncurrent | $ 132,000 | $ 156,000 | |||
Coronavirus Loans [Member] | HSBC UK Bank PLC [Member] | Base Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 4% |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Apr. 11, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Preferred Stock, Shares Authorized (in shares) | 3,333,333 | 3,333,333 | |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | |
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 | |
Preferred Stock, Shares Issued (in shares) | 0 | ||
Common Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | |
Common Stock, Shares, Issued (in shares) | 18,699,596 | 14,402,025 | |
Common Stock, Shares, Outstanding (in shares) | 18,699,596 | 14,402,025 | |
April 2023 Private Placement [Member] | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | ||
Stock Issued During Period, Shares, New Issues (in shares) | 3,428,571 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 1.75 | ||
Proceeds from Issuance of Private Placement | $ 6 |
Note 14 - Stock-based Compens_2
Note 14 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Payment Arrangement, Expense | $ 2,000 | $ 700 |
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 0 | $ 0 |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Details Textual) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||
Feb. 01, 2023 | Jul. 12, 2022 | May 31, 2023 | Apr. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | |
Progressive Care [Member] | ||||||
Management and Administrative Service Revenue, Per Month | $ 25,000 | $ 20,000 | ||||
Proceeds From Management and Administrative Service | $ 115,000 | |||||
Lauren Sturges Fernandez [Member] | ||||||
Annual Salary | $ 95,000 | $ 125,000 | ||||
Salary and Wage, NonOfficer, Excluding Cost of Good and Service Sold | $ 10,995 |
Note 17 - Leases (Details Textu
Note 17 - Leases (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 02, 2021 USD ($) ft² | Jun. 30, 2023 ft² | Jun. 30, 2023 USD ($) ft² | Jun. 30, 2023 GBP (£) ft² | Dec. 31, 2022 USD ($) | |
Operating Lease, Weighted Average Incremental Rate, Percent | 3.75% | 3.75% | |||
Operating Lease, Impairment Loss | $ | $ 0 | $ 0 | |||
Office Space in Florida [Member] | |||||
Lessee, Operating Lease, Term of Contract (Month) | 62 months | ||||
Area of Real Estate Property (Square Foot) | ft² | 4,141 | ||||
Annul Rent | $ | $ 186,345 | ||||
Annual Lease Increase, Percentage | 3% | ||||
Facilities in Poole, England [Member] | |||||
Area of Real Estate Property (Square Foot) | ft² | 2,660 | 2,660 | 2,660 | ||
Annul Rent | $ 37,107 | £ 30,000 | |||
Foreign Currency Exchange Rate, Translation | 1.24 | 1.24 | 1.24 |
Note 18 - Concentrations (Detai
Note 18 - Concentrations (Details Textual) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Amazon [Member] | ||
Concentration Risk, Percentage | 49.10% | 49.50% |
Note 18 - Concentrations - Sche
Note 18 - Concentrations - Schedules of Concentration of Risk (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue | $ 2,957,362 | $ 2,871,479 | $ 5,833,515 | $ 6,449,257 |
Purchases [Member] | Supplier Concentration Risk [Member] | Iridium Satellite [Member] | ||||
Purchases | $ 651,000 | $ 0 | ||
Percentage | 13.40% | 0% | ||
Purchases [Member] | Supplier Concentration Risk [Member] | Globalstar Europe [Member] | ||||
Purchases | $ 267,000 | $ 535,000 | $ 212,000 | |
Percentage | 14% | 11% | 4.20% | |
Purchases [Member] | Supplier Concentration Risk [Member] | Garmin [Member] | ||||
Purchases | $ 479,000 | $ 583,000 | $ 1,087,000 | $ 999,000 |
Percentage | 25.30% | 27.80% | 22.40% | 19.70% |
Purchases [Member] | Supplier Concentration Risk [Member] | Network Innovations [Member] | ||||
Purchases | $ 295,000 | $ 201,000 | $ 635,000 | $ 521,000 |
Percentage | 15.60% | 9.60% | 13.10% | 10.30% |
Purchases [Member] | Supplier Concentration Risk [Member] | Cygnus Telecom [Member] | ||||
Purchases | $ 58,000 | $ 255,000 | $ 373,000 | $ 1,196,000 |
Percentage | 3% | 12.20% | 7.70% | 23.60% |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | ||||
Revenue | $ 2,957,362 | $ 2,871,479 | $ 5,833,515 | $ 6,449,257 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Europe [Member] | ||||
Percentage | 57.60% | 75.40% | 63.30% | 78.50% |
Revenue | $ 1,704,321 | $ 2,165,445 | $ 3,690,340 | $ 5,064,843 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | North America [Member] | ||||
Percentage | 29.40% | 16.10% | 25.10% | 14% |
Revenue | $ 869,682 | $ 462,742 | $ 1,461,702 | $ 899,958 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | South America [Member] | ||||
Percentage | 0.30% | 0.40% | 0.30% | 0.30% |
Revenue | $ 8,290 | $ 10,533 | $ 17,904 | $ 22,306 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Asia Pacific [Member] | ||||
Percentage | 11.30% | 7% | 9.70% | 6.20% |
Revenue | $ 335,290 | $ 201,371 | $ 562,937 | $ 397,540 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Africa [Member] | ||||
Percentage | 1.40% | 1.10% | 1.60% | 1% |
Revenue | $ 39,779 | $ 31,388 | $ 100,632 | $ 64,610 |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) - USD ($) | 6 Months Ended | |||
Jul. 07, 2023 | Jul. 01, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Proceeds from Warrant Exercises | $ 183,750 | $ 0 | ||
Subsequent Event [Member] | Next Borough Capital Management, LLC [Member] | ||||
Payments to Acquire Notes Receivable | $ 250,000 | |||
Notes Receivable, Interest Rate | 7% | |||
Subsequent Event [Member] | Progressive Care [Member] | ||||
Investment, Percentage of Right to Control | 50% | |||
Progressive Care [Member] | Subsequent Event [Member] | RXMD [Member] | ||||
Stock Issued During Period, Shares, Exercise of Warrants, Cashless Basis (in shares) | 402,269 | |||
Proceeds from Warrant Exercises | $ 506,000 | |||
Stock Issued During Period, Shares, Exercise of Warrants, Cash Basis (in shares) | 230,000 | |||
Progressive Care [Member] | Subsequent Event [Member] | Chairman and Chief Executive Officer of NextPlat Corp [Member] | ||||
Stock Issued During Period, Shares, Exercise of Warrants, Cashless Basis (in shares) | 211,470 | |||
Progressive Care [Member] | Subsequent Event [Member] | Director on the Board of NextPlat Corp [Member] | ||||
Stock Issued During Period, Shares, Exercise of Warrants, Cashless Basis (in shares) | 130,571 | |||
Progressive Care [Member] | Subsequent Event [Member] | NextPlat Corp, the Chairman and Chief Executive Officer of NextPlat, and a Director of NextPlat [Member] | ||||
Related Party, Ownership Percentage | 53% |