Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 10, 2024 | |
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 | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
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 | 18,773,146 | |
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 $0.0001 | |
Trading Symbol | NXPL | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Current Assets | ||
Cash | $ 23,526,000 | $ 26,307,000 |
Accounts receivable, net | 12,928,000 | 8,923,000 |
Receivables - other, net | 2,068,000 | 1,846,000 |
Inventory, net | 5,610,000 | 5,135,000 |
Unbilled revenue | 185,000 | 189,000 |
VAT receivable | 357,000 | 342,000 |
Prepaid expenses | 404,000 | 640,000 |
Notes receivable due from related party | 260,000 | 256,000 |
Total Current Assets | 45,338,000 | 43,638,000 |
Property and equipment, net | 3,846,000 | 3,989,000 |
Goodwill | 731,000 | 731,000 |
Intangible assets, net | 13,725,000 | 14,423,000 |
Operating right of use assets, net | 1,303,000 | 1,566,000 |
Finance right-of-use assets, net | 18,000 | 22,000 |
Deposits | 39,000 | 39,000 |
Prepaid expenses, net of current portion | 61,000 | 61,000 |
Total Other Assets | 15,877,000 | 16,842,000 |
Total Assets | 65,061,000 | 64,469,000 |
Current Liabilities | ||
Accounts payable and accrued expenses | 14,893,000 | 13,176,000 |
Contract liabilities | 140,000 | 42,000 |
Notes payable | 233,000 | 312,000 |
Due to related party | 42,000 | 18,000 |
Operating lease liabilities | 532,000 | 532,000 |
Finance lease liabilities | 20,000 | 18,000 |
Income taxes payable | 90,000 | 139,000 |
Total Current Liabilities | 15,950,000 | 14,237,000 |
Long Term Liabilities: | ||
Long-term portion of notes payable | 1,165,000 | 1,211,000 |
Operating lease liabilities, net of current portion | 853,000 | 929,000 |
Finance lease liabilities, net of current portion | 0 | 5,000 |
Total Liabilities | 17,968,000 | 16,382,000 |
Commitments and Contingencies | ||
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, 18,724,596 and 18,724,596 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively) | 2,000 | 2,000 |
Additional paid-in capital | 67,717,000 | 67,170,000 |
Accumulated deficit | (36,406,000) | (34,925,000) |
Accumulated other comprehensive loss | (90,000) | (63,000) |
Equity attributable to NextPlat Corp stockholders | 31,223,000 | 32,184,000 |
Equity attributable to non-controlling interests | 15,870,000 | 15,903,000 |
Total Equity | 47,093,000 | 48,087,000 |
Total Liabilities and Equity | $ 65,061,000 | $ 64,469,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2024 | Dec. 31, 2023 |
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) | 18,724,596 | 18,724,596 |
Common stock, shares outstanding (in shares) | 18,724,596 | 18,724,596 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | $ 17,493 | $ 2,876 |
Cost of revenue | 12,683 | 2,255 |
Gross profit | 4,810 | 621 |
Operating expenses: | ||
Selling, general and administrative | 2,005 | 788 |
Salaries, wages and payroll taxes | 2,624 | 588 |
Impairment loss | 132 | 0 |
Professional fees | 985 | 321 |
Depreciation and amortization | 906 | 162 |
Total operating expenses | 6,652 | 1,859 |
Loss before other (income) expense | (1,842) | (1,238) |
Other (income) expense: | ||
Interest expense | 21 | 5 |
Interest earned | (215) | (10) |
Other income | 0 | (50) |
Foreign currency exchange rate variance | 26 | (28) |
Total other income | (168) | (83) |
Loss before income taxes and equity in net loss of affiliate | (1,674) | (1,155) |
Income taxes | (27) | 0 |
Loss before equity in net loss of affiliate | (1,701) | (1,155) |
Equity in net loss of affiliate | 0 | (32) |
Net loss | (1,701) | (1,187) |
Net loss attributable to non-controlling interest | 220 | 0 |
Net loss attributable to NextPlat Corp | (1,481) | (1,187) |
Comprehensive income (loss): | ||
Net loss | (1,701) | (1,187) |
Foreign currency loss | (27) | (23) |
Comprehensive loss | (1,728) | (1,210) |
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ (1,481) | $ (1,187) |
Basic weighted average common shares outstanding (in shares) | 18,725 | 14,415 |
Weighted average loss per common share - basic and diluted (in dollars per share) | $ (0.08) | $ (0.08) |
Product [Member] | ||
Revenue | $ 14,120 | $ 2,876 |
Cost of revenue | 12,620 | 2,255 |
Service [Member] | ||
Revenue | 3,373 | 0 |
Cost of revenue | $ 63 | $ 0 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2022 | 14,402 | ||||||
Balance at Dec. 31, 2022 | $ 1 | $ 56,963 | $ (31,147) | $ (41) | $ 25,776 | $ 0 | $ 25,776 |
Stock-based compensation in connection with restricted stock awards (in shares) | 39 | ||||||
Stock-based compensation in connection with restricted stock awards | $ 0 | 61 | 0 | 0 | 61 | 0 | 61 |
Comprehensive loss | 0 | 0 | 0 | (23) | (23) | 0 | (23) |
Net income (loss) | $ 0 | 0 | (1,187) | 0 | (1,187) | 0 | (1,187) |
Balance (in shares) at Mar. 31, 2023 | 14,441 | ||||||
Balance at Mar. 31, 2023 | $ 1 | 57,024 | (32,334) | (64) | 24,627 | 0 | 24,627 |
Balance (in shares) at Dec. 31, 2023 | 18,725 | ||||||
Balance at Dec. 31, 2023 | $ 2 | 67,170 | (34,925) | (63) | 32,184 | 15,903 | 48,087 |
Stock-based compensation in connection with options granted | $ 0 | 160 | 0 | 0 | 160 | 0 | 160 |
Stock-based compensation in connection with restricted stock awards (in shares) | 0 | ||||||
Stock-based compensation in connection with restricted stock awards | $ 0 | 387 | 0 | 0 | 387 | 65 | 452 |
Capital contribution of non-controlling interests | 0 | 0 | 0 | 0 | 0 | 122 | 122 |
Comprehensive loss | 0 | 0 | 0 | (27) | (27) | 0 | (27) |
Net income (loss) | $ 0 | 0 | (1,481) | 0 | (1,481) | (220) | (1,701) |
Balance (in shares) at Mar. 31, 2024 | 18,725 | ||||||
Balance at Mar. 31, 2024 | $ 2 | $ 67,717 | $ (36,406) | $ (90) | $ 31,223 | $ 15,870 | $ 47,093 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (1,701,000) | $ (1,187,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 203,000 | 155,000 |
Change in provision for doubtful accounts | 2,000 | 0 |
Amortization of intangible assets | 698,000 | 6,000 |
Amortization of right-of-use assets - operating leases | 129,000 | 49,000 |
Amortization of right-of-use assets - finance leases | 5,000 | 0 |
Equity in net loss of affiliate | 0 | 32,000 |
Stock-based compensation | 612,000 | 243,000 |
Impairment loss | 132,000 | 0 |
Gain on sale or disposal of property and equipment | (1,000) | 0 |
Accounts receivable | (4,230,000) | (572,000) |
Inventory | (475,000) | (877,000) |
Unbilled revenue | 4,000 | 142,000 |
Prepaid expense | 236,000 | (32,000) |
Notes receivable | (4,000) | 0 |
VAT receivable | (15,000) | (76,000) |
Accounts payable and accrued expenses | 1,745,000 | 94,000 |
Operating lease liabilities | (74,000) | (43,000) |
Income taxes payable | (49,000) | 2,000 |
Contract liabilities | 98,000 | (3,000) |
Net cash used in operating activities | (2,685,000) | (2,067,000) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (64,000) | (69,000) |
Proceeds from sale or disposal of property and equipment | 1,000 | 0 |
Net cash used in investing activities | (63,000) | (69,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayments of note payable, related party, net | 23,000 | (2,000) |
Capital contribution | 122,000 | 0 |
Payments on finance lease liabilities | (5,000) | 0 |
Repayments of notes payable | (141,000) | (11,000) |
Net cash used in financing activities | (1,000) | (13,000) |
Effect of exchange rate on cash | (32,000) | (23,000) |
Net decrease in cash | (2,781,000) | (2,172,000) |
Cash beginning of period | 26,307,000 | 18,891,000 |
Cash end of period | 23,526,000 | 16,719,000 |
SUPPLEMENTAL CASH FLOW INFORMATION | ||
Interest | 170,000 | 4,000 |
Income tax | $ 74,000 | $ 0 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Operations. | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. The term “Company” refers to NextPlat Corp and its wholly, majority owned and controlled subsidiaries, except where the context requires otherwise or where otherwise indicated. NextPlat Corp: 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 Progressive Care Inc.: Progressive Care Inc. (“Progressive Care”) was incorporated under the laws of the state of Delaware on October 31, 2006. Progressive, through its wholly-owned subsidiaries, Pharmco, LLC (“Pharmco 901” 1002, 1002” 1103 1204 1103” 1204” Pharmco 901 November 29, 2005 901 October 21, 2010. 901 not Pharmco 1103 1103 June 1, 2019. Pharmco 1002 1002 July 1, 2018. ClearMetrX was formed on June 10, 2020 third 340B RXMD Therapeutics was formed on October 1, 2019. no Florida Sunshine Brands, LLC: Florida Sunshine Brands, LLC (“Florida Sunshine”) is a Florida limited liability company and incorporated December 6, 2023. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Principles of Consolidation | 3 Months Ended |
Mar. 31, 2024 | |
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 2023 10 not 2023 10 not Business acquisition of Progressive Care, Inc. On July 1, 2023, July 1, 2023, The exercise of the stock options, along with the entry into the voting agreement, resulted in a change in control of Progressive Care under the voting interest model in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, Business Combination, July 1, 2023. The accompanying Unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. Use of Estimates In preparing the 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 | 3 Months Ended |
Mar. 31, 2024 | |
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, 2023 no three March 31, 2024. Cash The Company places its cash with high credit quality financial institutions. The Company’s account at these institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. All cash amounts in excess of $250,000, approximately $1.0 million, are unsecured. The Company has a deposit placement agreement for Insured Cash Sweep Service (“ICS”). This service is a secure, and convenient way to access FDIC protection on large deposits, earn a return, and enjoy flexibility. The Company believes that the ICS agreement will mitigate its credit risk as it relates to uninsured FDIC amounts in excess of $250,000. 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 three March 31, 2024 three March 31, 2023 December 31, 2023 Unearned Revenue Contract liabilities are shown separately in the condensed consolidated balance sheets as current liabilities. At March 31, 2024 December 31, 2023 Direct and Indirect Remuneration ( “ DIR ” ) Progressive Care reports DIR fees as a reduction of revenue on the accompanying Consolidated Statements of Operations. DIR fees are fees charged by PBMs to pharmacies for network participation as well as periodic reimbursement reconciliations. The Company accrues an estimate of PBM fees, including DIR fees, which are assessed or expected to be assessed by payers at some point after adjudication of a claim, as a reduction of prescription revenue at the time revenue is recognized. Changes in the estimate of such fees are recorded as an adjustment to revenue when the change becomes known. Through December 31, 2023, not two two three January – April 20xx July – August 20xx December 31, 2023, not second 2024. may January 1, 2024, Recent Accounting Pronouncements Accounting Pronouncements Issued but not In November 2023, 2023 07, 280 2023 07” 2023 07 December 15, 2023, December 15, 2024, Q1 2025, December 31, 2024. not In December 2023, 2023 09, 740 2023 09” 2023 09 December 15, 2024, January 1, 2025. not Other accounting standards that have been issued or proposed by FASB that do not not Subsequent Events The Company has evaluated subsequent events through May [ ], 2024, 21 |
Note 4 - Fair Value
Note 4 - Fair Value | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4. Accounting standards define fair value as the price that would be received from selling an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting standards establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value and also establishes the following three may Level 1: Level 2: 1 not Level 3: no The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments: ● Cash, accounts receivable, and accounts payable and accrued liabilities: ● Notes payable and lease liabilities: 2 Identifiable Intangible Assets The initial recognition of the Progressive Care's identifiable intangible assets, resulting from the acquisition on July 1, 2023 3 |
Note 5 - Revenue
Note 5 - Revenue | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 5. e-Commerce r The Company recognizes revenue from satellite services when earned, as services are rendered or delivered to customers. Equipment sales revenue is recognized when the equipment is delivered to and accepted by the customer. Only equipment sales are subject to warranty. Historically, the Company has not Healthcare revenue: The Company recognizes pharmacy revenue and 340B third The Company accrues an estimate of pharmacy benefit manager (“PBM”) fees, including direct and indirect remuneration (“DIR”) fees, which are assessed or expected to be assessed by payers at some point after adjudication of a claim, as a reduction of revenue at the time revenue is recognized. Changes in the estimate of such fees are recorded as an adjustment to revenue when the change becomes known. The Company recognizes COVID- 19 The following table disaggregates net revenues by categories (in thousands): Three Months Ended March 31, 2024 2023 Sales of products, net: Pharmacy prescription and other revenue, net of PBM fees $ 11,324 $ - e-Commerce revenue 2,865 2,876 Sub total 14,189 2,876 Revenues from services: Pharmacy 340B contract revenue 3,304 - Revenues, net $ 17,493 $ 2,876 |
Note 6 - Loss Per Share
Note 6 - Loss Per Share | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6. Net income (loss) per common share is calculated in accordance with Accounting Standards Codification (“ASC”) Topic 260: 260” not The components of basic and diluted EPS were as follows (in thousands, except per share data). Three Months Ended March 31, 2024 2023 Net loss attributable to NextPlat Corp common shareholders $ (1,481 ) $ (1,187 ) Basic weighted average common shares outstanding 18,725 14,415 Potentially dilutive common shares - - Diluted weighted average common shares outstanding 18,725 14,415 Weighted average loss per common share - basic and diluted $ (0.08 ) $ (0.08 ) Potentially dilutive common shares excluded from the calculation of diluted weighted average loss per common share: Stock options 105 100 105 100 |
Note 7 - Accounts Receivable
Note 7 - Accounts Receivable | 3 Months Ended |
Mar. 31, 2024 | |
Accounts Receivable [Member] | |
Notes to Financial Statements | |
Accounts and Nontrade Receivable [Text Block] | Note 7. At March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 (Unaudited) (Audited) Gross accounts receivable – trade $ 13,202 $ 9,195 Less: allowance for doubtful accounts (274 ) (272 ) Accounts receivable – trade, net $ 12,928 $ 8,923 The Company increased the allowance for credit losses in the amount of approximately $2,000 and $0 for the three March 31, 2024 2023 Accounts receivable – trade, net for the Company as of January 1, 2023 March 31, 2023 |
Note 8 - Inventory
Note 8 - Inventory | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 8. At March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 (Unaudited) (Audited) Finished goods $ 5,670 $ 5,195 Less reserve for obsolete inventory (60 ) (60 ) Total $ 5,610 $ 5,135 |
Note 9 - VAT Receivable
Note 9 - VAT Receivable | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
VAT Accounts Receivable [Text Block] | Note 9. On January 1, 2021, March 31, 2024 December 31, 2023 |
Note 10 - Prepaid Expenses
Note 10 - Prepaid Expenses | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | Note 10. Prepaid expenses current and long term amounted to approximately $404,000 and $61,000, respectively at March 31, 2024 December 31, 2023 |
Note 11 - Property and Equipmen
Note 11 - Property and Equipment, Net | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 11. Property and equipment, net consisted of the following (in thousands): March 31, 2024 December 31, 2023 (Unaudited) (Audited) Building $ 2,116 $ 2,116 Vehicles 585 595 Office furniture and fixtures 543 527 Land 184 184 Leasehold improvements 167 124 Computer equipment 117 117 Rental equipment 63 60 Appliques 2,160 2,160 Website development 611 587 Construction in progress - 22 Property and equipment gross 6,546 6,492 Less: accumulated depreciation (2,700 ) (2,503 ) Property and equipment, net $ 3,846 $ 3,989 Depreciation expense was approximately $203,000 and $155,000 for the three March 31, 2024 2023 |
Note 12 - Intangible Assets, Ne
Note 12 - Intangible Assets, Net | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 12. Intangible assets, net consisted of the following (in thousands): March 31, 2024 (Unaudited) Gross amount Accumulated amortization Net Amount Pharmacy records $ 8,130 $ (1,219 ) $ 6,911 Trade names 4,700 (353 ) 4,347 Developed technology 2,880 (432 ) 2,448 Customer Contracts 250 (231 ) 19 Total intangible assets $ 15,960 $ (2,235 ) $ 13,725 December 31, 2023 (Audited) Gross amount Accumulated amortization Net Amount Pharmacy records $ 8,130 $ (807 ) $ 7,323 Trade names 4,700 (224 ) 4,476 Developed technology 2,880 (281 ) 2,599 Customer Contracts 250 (225 ) 25 Total intangible assets $ 15,960 $ (1,537 ) $ 14,423 Amortization of customer contracts is included in depreciation and amortization in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss). For the three March 31, 2024 2023 Year Amount 2024 (remaining nine months) $ 2,023 2025 2,672 2026 2,672 2027 2,672 2028 1,571 Thereafter 2,115 Total $ 13,725 |
Note 13 - Accounts Payable and
Note 13 - Accounts Payable and Accrued Expenses | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 13. Accounts payable and accrued expenses consisted of the following (in thousands): March 31, 2024 December 31, 2023 (Unaudited) (Audited) Accounts payable $ 13,978 $ 12,142 Accrued wages and payroll liabilities 378 200 Accrued PBM fees 366 571 Customer deposits payable 54 76 Accrued other liabilities 117 187 Total $ 14,893 $ 13,176 |
Note 14 - Notes Payable
Note 14 - Notes Payable | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 14. Notes payable consisted of the following (in thousands): March 31, 2024 December 31, 2023 (Unaudited) (Audited) A. Mortgage note payable - commercial bank - collateralized $ 1,118 $ 1,140 B. Note payable - uncollateralized 25 25 C. Notes payable - collateralized 229 255 Insurance premiums financing 26 103 Subtotal 1,398 1,523 Less: current portion of notes payable (233 ) (312 ) Long-term portion of notes payable $ 1,165 $ 1,211 (A) Mortgage Note Payable – collateralized In 2018, 400 December 14, 2028 January 2019, not December 14, 2028. (B) Note Payable – Uncollateralized As of March 31, 2024 (C) Notes Payable – Collateralized On July 16, 2020 ( £250,000, July 16, 2021, Base Rate July 16, 2020), July 15, 2026, first £4,166.67 13 July 16, 2020. 5 In April 2021, September 2021, March 31, 2024 December 31, 2023 In July 2022, January 2023. March 31, 2024 December 31, 2023 In September 2022, October 2022. March 31, 2024 December 31, 2023 Principal outstanding as of March 31, 2024 Year Amount 2024 (remaining nine months) $ 187 2025 215 2026 119 2027 124 2028 753 Thereafter - Total $ 1,398 |
Note 15 - Equity
Note 15 - Equity | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 15. 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 March 31, 2024 Common Stock We have authorized 50,000,000 shares of $0.0001 par value common stock. As of March 31, 2024 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 For the three March 31, 2024 2023 three March 31, 2024 2023 |
Note 16 - Related Party Transac
Note 16 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 16. On July 12, 2022, September 22, 2022, no December 31, 2022. April 2023, Progressive Care Inc September 2, 2022, November 11, 2022, September 2, 2022, March 6, 2019, 1 December 30, 2022. On February 1, 2023, May 2023 three March 31, 2023 three March 31, 2024 July 1, 2023. On May 5, 2023, one one On May 9, 2023, one On July 1, 2023, Also, on July 1, 2023, Next Borough Capital Fund, LP. July 7, 2023, July 7, 2024, March 31, 2024 December 31, 2023 |
Note 17 - Commitments and Conti
Note 17 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 17. Litigation On June 22, 2021, not June 2, 2021 not not June 21, 2022. not No. 1:21 22436 On July 5, 2022, June 22, 2021, A jury trial is set to occur during the trial court's two August 21, 2024. From time to time, the Company may not no |
Note 18 - Leases
Note 18 - Leases | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 18. 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 Finance Lease Agreements In May 2018, March 2025 Operating Lease Agreements Right of use ("ROU") assets for operating leases are periodically reduced by impairment losses. We use the long-lived assets impairment guidance in ASC Subtopic 360 10, March 31, 2024 December 31, 2023 We monitor for events or changes in circumstances that require a reassessment of one On December 2, 2021, June 13, 2022, August 31, 2027. not 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 twelve Progressive Care entered into a lease agreement for its Orlando pharmacy in August 2020. February 2026. February 2021, Progressive Care leases its North Miami Beach pharmacy location under an operating lease agreement with a lease commencement date in September 2021. August 2026. Progressive Care also leases its Palm Beach County pharmacy locations under operating lease agreements expiring in February 2025. |
Note 19 - Reportable Segments
Note 19 - Reportable Segments | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 19. The Company has two 19 340B 340B The Company evaluates the performance of each of the segments based on profit or loss after general and administrative expenses. While the Company believes there are synergies between the two For the Three Months Ended March 31, 2024 e-Commerce Operations Healthcare Operations Eliminations Total Pharmacy prescription and other revenue, net of PBM fees $ - $ 11,324 $ - $ 11,324 e-Commerce revenue 2,865 - - 2,865 Pharmacy 340B contract revenue - 3,304 - 3,304 Revenues, net $ 2,865 $ 14,628 $ - $ 17,493 Expenses: Cost of revenue 2,060 10,623 - 12,683 Selling, general and administrative 1,166 899 (60 ) 2,005 Salaries, wages and payroll taxes 508 2,116 - 2,624 Impairment loss - 132 - 132 Professional fees 507 478 - 985 Depreciation and amortization 130 776 - 906 4,371 15,024 (60 ) 19,335 Loss before other (income) expense (1,506 ) (396 ) 60 (1,842 ) Other (expense) income (203 ) (25 ) (60 ) (168 ) Loss before income taxes (1,303 ) (371 ) - (1,674 ) Income taxes (27 ) - - (27 ) Net loss $ (1,330 ) $ (371 ) $ - $ (1,701 ) For the Three Months Ended March 31, 2023 e-Commerce Operations Healthcare Operations Eliminations Total Pharmacy prescription and other revenue, net of PBM fees $ - $ - $ - $ - e-Commerce revenue 2,876 - - 2,876 Pharmacy 340B contract revenue - - - - Revenues, net $ 2,876 $ - $ - $ 2,876 Expenses: Cost of revenue 2,255 - - 2,255 Selling, general and administrative 788 - - 788 Salaries, wages and payroll taxes 588 - - 588 Professional fees 321 - - 321 Depreciation and amortization 162 - - 162 4,114 - - 4,114 Loss before other (income) expense (1,238 ) - - (1,238 ) Other (expense) income (83 ) - - (83 ) Loss before income taxes (1,155 ) - - (1,155 ) Income taxes - - - - Loss before equity method investment (1,155 ) - - (1,155 ) Equity in net loss of affiliate (32 ) - - (32 ) Net loss $ (1,187 ) $ - $ - $ (1,187 ) e-Commerce Operations Healthcare Operations Eliminations Total Total assets as of March 31, 2024 $ 40,342 $ 41,398 $ (16,679 ) $ 65,061 Total assets as of December 31, 2023 $ 40,764 $ 40,384 $ (16,679 ) $ 64,469 |
Note 20 - Concentrations
Note 20 - Concentrations | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 20. e-Commerce operations concentrations: Customers: Sales to customers through Amazon accounted for 39.9% and 57.2% of the Company’s revenues during the three March 31, 2024 2023 No 10% Suppliers: The following table sets forth information as to each supplier that accounted for 10% three March 31, 2024 2023 For the Three Months Ended March 31, 2024 For the Three Months Ended March 31, 2023 Globalstar Europe $ 213 10.2 % $ - - % Garmin $ 301 14.3 % $ 594 20.9 % Iridium Satellite $ 270 27.2 % $ - - % Geographic The following table sets forth revenue as to each geographic location, for the (in thousands, unaudited): For the Three Months Ended March 31, 2024 For the Three Months Ended March 31, 2023 Europe $ 1,430 49.9 % $ 2,063 71.7 % North America 523 18.3 % 586 20.4 % South America 23 0.8 % 9 0.3 % Asia and Pacific 413 14.4 % 159 5.5 % Africa 476 16.6 % 59 2.1 % $ 2,865 100 % $ 2,876 100 % Healthcare operations concentrations: Suppliers: Progressive Care had significant concentrations with one vendor. The purchases from this significant vendor were 98% of total vendor purchases for the three March 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 Progressive Care derives a significant portion of sales from prescription drug sales reimbursed through prescription drug plans administered by pharmacy benefit managers (“PBM”) companies. Prescription reimbursements from our three Three Months Ended March 31, 2024 A 33 % B 21 % C 16 % |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 21. Acquisition of Outfitter Satellite On March 25, 2024, fitter Satellite, Inc. (“Outfitter”) in an all-cash transaction for an aggregate purchase price of $760,000.00, subject to certain adjustments (the “Aggregate Consideration”). The closing of the transaction occurred on April 1, 2024 At the closing, $660,000.00 of the Aggregate Consideration was paid to Mr. McKinley with the remaining $100,000.00 to be paid upon delivery of Outfitter’s audited financial statements for the 2022 2023 Outfitter provides consumers, commercial and government customers, with advanced satellite-based connectivity solutions from leading brands, including Iridium, Inmarsat and Globalstar. RXMD Merger On April 12, 2024, Merger Agreement Merger Sub Merger On April 9, 2024, Company Lock-Up Agreements Parent Lock-Up Agreements Hybrid Lock-Up Agreements Lock-Up Agreements no |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. Rule 10b5 1 During the three March 31, 2024 no 10b5 1 10b5 1 408 |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Note 5 - Revenue (Tables)
Note 5 - Revenue (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2024 2023 Sales of products, net: Pharmacy prescription and other revenue, net of PBM fees $ 11,324 $ - e-Commerce revenue 2,865 2,876 Sub total 14,189 2,876 Revenues from services: Pharmacy 340B contract revenue 3,304 - Revenues, net $ 17,493 $ 2,876 |
Note 6 - Loss Per Share (Tables
Note 6 - Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2024 2023 Net loss attributable to NextPlat Corp common shareholders $ (1,481 ) $ (1,187 ) Basic weighted average common shares outstanding 18,725 14,415 Potentially dilutive common shares - - Diluted weighted average common shares outstanding 18,725 14,415 Weighted average loss per common share - basic and diluted $ (0.08 ) $ (0.08 ) Potentially dilutive common shares excluded from the calculation of diluted weighted average loss per common share: Stock options 105 100 105 100 |
Note 7 - Accounts Receivable (T
Note 7 - Accounts Receivable (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2024 December 31, 2023 (Unaudited) (Audited) Gross accounts receivable – trade $ 13,202 $ 9,195 Less: allowance for doubtful accounts (274 ) (272 ) Accounts receivable – trade, net $ 12,928 $ 8,923 |
Note 8 - Inventory (Tables)
Note 8 - Inventory (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 2024 December 31, 2023 (Unaudited) (Audited) Finished goods $ 5,670 $ 5,195 Less reserve for obsolete inventory (60 ) (60 ) Total $ 5,610 $ 5,135 |
Note 11 - Property and Equipm_2
Note 11 - Property and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, 2024 December 31, 2023 (Unaudited) (Audited) Building $ 2,116 $ 2,116 Vehicles 585 595 Office furniture and fixtures 543 527 Land 184 184 Leasehold improvements 167 124 Computer equipment 117 117 Rental equipment 63 60 Appliques 2,160 2,160 Website development 611 587 Construction in progress - 22 Property and equipment gross 6,546 6,492 Less: accumulated depreciation (2,700 ) (2,503 ) Property and equipment, net $ 3,846 $ 3,989 |
Note 12 - Intangible Assets, _2
Note 12 - Intangible Assets, Net (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | March 31, 2024 (Unaudited) Gross amount Accumulated amortization Net Amount Pharmacy records $ 8,130 $ (1,219 ) $ 6,911 Trade names 4,700 (353 ) 4,347 Developed technology 2,880 (432 ) 2,448 Customer Contracts 250 (231 ) 19 Total intangible assets $ 15,960 $ (2,235 ) $ 13,725 December 31, 2023 (Audited) Gross amount Accumulated amortization Net Amount Pharmacy records $ 8,130 $ (807 ) $ 7,323 Trade names 4,700 (224 ) 4,476 Developed technology 2,880 (281 ) 2,599 Customer Contracts 250 (225 ) 25 Total intangible assets $ 15,960 $ (1,537 ) $ 14,423 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year Amount 2024 (remaining nine months) $ 2,023 2025 2,672 2026 2,672 2027 2,672 2028 1,571 Thereafter 2,115 Total $ 13,725 |
Note 13 - Accounts Payable an_2
Note 13 - Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | March 31, 2024 December 31, 2023 (Unaudited) (Audited) Accounts payable $ 13,978 $ 12,142 Accrued wages and payroll liabilities 378 200 Accrued PBM fees 366 571 Customer deposits payable 54 76 Accrued other liabilities 117 187 Total $ 14,893 $ 13,176 |
Note 14 - Notes Payable (Tables
Note 14 - Notes Payable (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, 2024 December 31, 2023 (Unaudited) (Audited) A. Mortgage note payable - commercial bank - collateralized $ 1,118 $ 1,140 B. Note payable - uncollateralized 25 25 C. Notes payable - collateralized 229 255 Insurance premiums financing 26 103 Subtotal 1,398 1,523 Less: current portion of notes payable (233 ) (312 ) Long-term portion of notes payable $ 1,165 $ 1,211 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Year Amount 2024 (remaining nine months) $ 187 2025 215 2026 119 2027 124 2028 753 Thereafter - Total $ 1,398 |
Note 19 - Reportable Segments (
Note 19 - Reportable Segments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | For the Three Months Ended March 31, 2024 e-Commerce Operations Healthcare Operations Eliminations Total Pharmacy prescription and other revenue, net of PBM fees $ - $ 11,324 $ - $ 11,324 e-Commerce revenue 2,865 - - 2,865 Pharmacy 340B contract revenue - 3,304 - 3,304 Revenues, net $ 2,865 $ 14,628 $ - $ 17,493 Expenses: Cost of revenue 2,060 10,623 - 12,683 Selling, general and administrative 1,166 899 (60 ) 2,005 Salaries, wages and payroll taxes 508 2,116 - 2,624 Impairment loss - 132 - 132 Professional fees 507 478 - 985 Depreciation and amortization 130 776 - 906 4,371 15,024 (60 ) 19,335 Loss before other (income) expense (1,506 ) (396 ) 60 (1,842 ) Other (expense) income (203 ) (25 ) (60 ) (168 ) Loss before income taxes (1,303 ) (371 ) - (1,674 ) Income taxes (27 ) - - (27 ) Net loss $ (1,330 ) $ (371 ) $ - $ (1,701 ) For the Three Months Ended March 31, 2023 e-Commerce Operations Healthcare Operations Eliminations Total Pharmacy prescription and other revenue, net of PBM fees $ - $ - $ - $ - e-Commerce revenue 2,876 - - 2,876 Pharmacy 340B contract revenue - - - - Revenues, net $ 2,876 $ - $ - $ 2,876 Expenses: Cost of revenue 2,255 - - 2,255 Selling, general and administrative 788 - - 788 Salaries, wages and payroll taxes 588 - - 588 Professional fees 321 - - 321 Depreciation and amortization 162 - - 162 4,114 - - 4,114 Loss before other (income) expense (1,238 ) - - (1,238 ) Other (expense) income (83 ) - - (83 ) Loss before income taxes (1,155 ) - - (1,155 ) Income taxes - - - - Loss before equity method investment (1,155 ) - - (1,155 ) Equity in net loss of affiliate (32 ) - - (32 ) Net loss $ (1,187 ) $ - $ - $ (1,187 ) |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | e-Commerce Operations Healthcare Operations Eliminations Total Total assets as of March 31, 2024 $ 40,342 $ 41,398 $ (16,679 ) $ 65,061 Total assets as of December 31, 2023 $ 40,764 $ 40,384 $ (16,679 ) $ 64,469 |
Note 20 - Concentrations (Table
Note 20 - Concentrations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | For the Three Months Ended March 31, 2024 For the Three Months Ended March 31, 2023 Globalstar Europe $ 213 10.2 % $ - - % Garmin $ 301 14.3 % $ 594 20.9 % Iridium Satellite $ 270 27.2 % $ - - % For the Three Months Ended March 31, 2024 For the Three Months Ended March 31, 2023 Europe $ 1,430 49.9 % $ 2,063 71.7 % North America 523 18.3 % 586 20.4 % South America 23 0.8 % 9 0.3 % Asia and Pacific 413 14.4 % 159 5.5 % Africa 476 16.6 % 59 2.1 % $ 2,865 100 % $ 2,876 100 % Three Months Ended March 31, 2024 A 33 % B 21 % C 16 % |
Note 1 - Organization and Nat_2
Note 1 - Organization and Nature of Operations. (Details Textual) | Mar. 31, 2024 | Dec. 06, 2023 |
Florida Sunshine Brands, LLC [Member] | ||
Subsidiary, Ownership Percentage, Parent | 51% | |
Florida Sunshine Brands, LLC [Member] | Outer Brands FS, LLC [Member] | ||
Subsidiary, Ownership Percentage, Noncontrolling Owner | 49% | |
Progressive Care [Member] | Pharmco 901 [Member] | ||
Subsidiary, Ownership Percentage, Parent | 100% |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Principles of Consolidation (Details Textual) | Jul. 01, 2023 |
Progressive Care [Member] | |
Business Acquisition, Percentage of Voting Interests Acquired | 53% |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Details Textual) | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | Mar. 31, 2023 |
Cash, FDIC Insured Amount | $ 250,000 | ||
Cash, Uninsured Amount | 1,000,000 | ||
Contract with Customer, Liability | $ 140,000 | $ 42,000 | |
Closing Rate [Member] | |||
Foreign Currency Exchange Rate, Translation | 1.28 | 1.27 | 1.23 |
Yearly Average Rate [Member] | |||
Foreign Currency Exchange Rate, Translation | 1.27 | 1.24 | 1.22 |
Maximum [Member] | |||
Cash, FDIC Insured Amount | $ 250,000 |
Note 4 - Fair Value (Details Te
Note 4 - Fair Value (Details Textual) $ in Millions | Jul. 01, 2023 USD ($) |
Progressive Care [Member] | Fair Value, Inputs, Level 3 [Member] | |
Finite-Lived Intangible Assets, Fair Value Disclosure | $ 14.7 |
Note 5 - Revenue - Disaggregati
Note 5 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | $ 17,493 | $ 2,876 |
Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 11,324 | 0 |
Pharmacy 340B Contract [Member] | ||
Revenue | 3,304 | 0 |
E-Commerce Revenue [Member] | ||
Revenue | 17,493 | |
E-Commerce Revenue [Member] | Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 11,324 | |
E-Commerce Revenue [Member] | E-Commerce [Member] | ||
Revenue | 2,865 | |
E-Commerce Revenue [Member] | Pharmacy Prescription, Other Revenue and E-Commerce [Member] | ||
Revenue | 14,189 | |
E-Commerce Revenue [Member] | Pharmacy 340B Contract [Member] | ||
Revenue | $ 3,304 | |
Healthcare Operations [Member] | ||
Revenue | 2,876 | |
Healthcare Operations [Member] | Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 0 | |
Healthcare Operations [Member] | E-Commerce [Member] | ||
Revenue | 2,876 | |
Healthcare Operations [Member] | Pharmacy Prescription, Other Revenue and E-Commerce [Member] | ||
Revenue | 2,876 | |
Healthcare Operations [Member] | Pharmacy 340B Contract [Member] | ||
Revenue | $ 0 |
Note 6 - Loss Per Share - Earni
Note 6 - Loss Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net loss attributable to NextPlat Corp common shareholders | $ (1,481) | $ (1,187) |
Basic weighted average common shares outstanding (in shares) | 18,725 | 14,415 |
Potentially dilutive common shares (in shares) | 0 | 0 |
Diluted weighted average common shares outstanding (in shares) | 18,725 | 14,415 |
Weighted average loss per common share - basic and diluted (in dollars per share) | $ (0.08) | $ (0.08) |
Antidilutive securities (in shares) | 105 | 100 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 105 | 100 |
Note 7 - Accounts Receivable (D
Note 7 - Accounts Receivable (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jan. 01, 2023 | |
Accounts Receivable, Credit Loss Expense (Reversal) | $ 2,000 | $ 0 | ||
Accounts Receivable, after Allowance for Credit Loss | $ 12,928,000 | $ 1,000,000 | $ 8,923,000 | $ 400,000 |
Note 7 - Accounts Receivable -
Note 7 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Jan. 01, 2023 |
Gross accounts receivable – trade | $ 13,202 | $ 9,195 | ||
Less: allowance for doubtful accounts | (274) | (272) | ||
Accounts receivable – trade, net | $ 12,928 | $ 8,923 | $ 1,000 | $ 400 |
Note 8 - Inventory - Summary of
Note 8 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Finished goods | $ 5,670 | $ 5,195 |
Less reserve for obsolete inventory | (60) | (60) |
Total | $ 5,610 | $ 5,135 |
Note 9 - VAT Receivable (Detail
Note 9 - VAT Receivable (Details Textual) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Value Added Tax Receivable, Current | $ 357,000 | $ 342,000 |
Note 10 - Prepaid Expenses (Det
Note 10 - Prepaid Expenses (Details Textual) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Prepaid Expense, Current | $ 404,000 | $ 640,000 |
Prepaid Expense, Noncurrent | $ 61,000 | $ 61,000 |
Note 11 - Property and Equipm_3
Note 11 - Property and Equipment, Net (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Depreciation | $ 203,000 | $ 155,000 |
Note 11 - Property and Equipm_4
Note 11 - Property and Equipment, Net - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Property and equipment gross | $ 6,546 | $ 6,492 |
Less: accumulated depreciation | (2,700) | (2,503) |
Property and equipment, net | 3,846 | 3,989 |
Building [Member] | ||
Property and equipment gross | 2,116 | 2,116 |
Vehicles [Member] | ||
Property and equipment gross | 585 | 595 |
Furniture and Fixtures [Member] | ||
Property and equipment gross | 543 | 527 |
Land [Member] | ||
Property and equipment gross | 184 | 184 |
Leasehold Improvements [Member] | ||
Property and equipment gross | 167 | 124 |
Computer Equipment [Member] | ||
Property and equipment gross | 117 | 117 |
Rental Equipment [Member] | ||
Property and equipment gross | 63 | 60 |
Appliques [Member] | ||
Property and equipment gross | 2,160 | 2,160 |
Website Development [Member] | ||
Property and equipment gross | 611 | 587 |
Construction in Progress [Member] | ||
Property and equipment gross | $ 0 | $ 22 |
Note 12 - Intangible Assets, _3
Note 12 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amortization of Intangible Assets | $ 698 | $ 6 |
Note 12 - Goodwill and Intangib
Note 12 - Goodwill and Intangible Assets, Net - Summary of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Finite-Lived Intangible Assets, Gross | $ 15,960 | $ 15,960 |
Finite Lived Intangible Assets, Accumulated Amortization | (2,235) | (1,537) |
Finite Lived Intangible Assets, Net | 13,725 | 14,423 |
Pharmacy Records [Member] | ||
Finite-Lived Intangible Assets, Gross | 8,130 | 8,130 |
Finite Lived Intangible Assets, Accumulated Amortization | (1,219) | (807) |
Finite Lived Intangible Assets, Net | 6,911 | 7,323 |
Trade Names [Member] | ||
Finite-Lived Intangible Assets, Gross | 4,700 | 4,700 |
Finite Lived Intangible Assets, Accumulated Amortization | (353) | (224) |
Finite Lived Intangible Assets, Net | 4,347 | 4,476 |
Computer Software, Intangible Asset [Member] | ||
Finite-Lived Intangible Assets, Gross | 2,880 | 2,880 |
Finite Lived Intangible Assets, Accumulated Amortization | (432) | (281) |
Finite Lived Intangible Assets, Net | 2,448 | 2,599 |
Customer Contracts [Member] | ||
Finite-Lived Intangible Assets, Gross | 250 | 250 |
Finite Lived Intangible Assets, Accumulated Amortization | (231) | (225) |
Finite Lived Intangible Assets, Net | $ 19 | $ 25 |
Note 12 - Goodwill and Intang_2
Note 12 - Goodwill and Intangible Assets, Net - Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
2024 (remaining nine months) | $ 2,023 | |
2025 | 2,672 | |
2026 | 2,672 | |
2027 | 2,672 | |
2028 | 1,571 | |
Thereafter | 2,115 | |
Total | $ 13,725 | $ 14,423 |
Note 13 - Accounts Payable an_3
Note 13 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expense (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Accounts payable | $ 13,978 | $ 12,142 |
Accrued wages and payroll liabilities | 378 | 200 |
Accrued PBM fees | 366 | 571 |
Customer deposits payable | 54 | 76 |
Accrued other liabilities | 117 | 187 |
Total | $ 14,893 | $ 13,176 |
Note 14 - Notes Payable (Detail
Note 14 - Notes Payable (Details Textual) | 1 Months Ended | 12 Months Ended | |||||||
Jul. 16, 2020 GBP (£) | Sep. 30, 2022 USD ($) | Jul. 31, 2022 USD ($) | Apr. 30, 2021 USD ($) | Dec. 31, 2018 USD ($) | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | Jul. 16, 2020 USD ($) | Jul. 16, 2020 GBP (£) | |
Long-Term Debt | $ 1,398,000 | ||||||||
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Base Rate [Member] | ||||||||
Collateralized Promissory Note [Member] | Progressive Care [Member] | |||||||||
Debt Instrument, Face Amount | $ 1,530,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | ||||||||
Debt Instrument, Number of Payments | 119 | ||||||||
Debt Instrument, Periodic Payment | $ 11,901 | ||||||||
Coronavirus Loans [Member] | HSBC UK Bank PLC [Member] | |||||||||
Debt Instrument, Face Amount | $ 338,343 | £ 250,000 | |||||||
Foreign Currency Exchange Rate, Translation | 1.353372 | 1.353372 | |||||||
Debt Instrument, Basis Spread on Variable Rate | 4% | ||||||||
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% | |||||||
Note Obligation for Pharmacy Equipment [Member] | Progressive Care [Member] | |||||||||
Debt Instrument, Face Amount | $ 30,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.90% | ||||||||
Debt Instrument, Number of Payments | 46 | ||||||||
Debt Instrument, Periodic Payment | $ 331 | ||||||||
Long-Term Debt | 5,000 | $ 6,500 | |||||||
Note Obligation to Purchase Pharmacy Equipment [Member] | Progressive Care [Member] | |||||||||
Debt Instrument, Face Amount | $ 90,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.78% | ||||||||
Debt Instrument, Number of Payments | 60 | ||||||||
Debt Instrument, Periodic Payment | $ 1,859 | ||||||||
Long-Term Debt | 70,000 | 74,000 | |||||||
Note Obligation for Vehicles [Member] | Progressive Care [Member] | |||||||||
Debt Instrument, Face Amount | $ 25,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.29% | ||||||||
Debt Instrument, Number of Payments | 24 | ||||||||
Debt Instrument, Periodic Payment | $ 1,143 | ||||||||
Long-Term Debt | $ 7,000 | $ 10,000 |
Note 14 - Notes Payable - Sched
Note 14 - Notes Payable - Schedule of Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Note payable | $ 1,398 | $ 1,523 |
Less: current portion of notes payable | (233) | (312) |
Long-term portion of notes payable | 1,165 | 1,211 |
Mortgage Note Payable Commercial Bank Collateralized [Member] | ||
Note payable | 1,118 | 1,140 |
Note Payable Uncollateralized [Member] | ||
Note payable | 25 | 25 |
Note Payable Collateralized [Member] | ||
Note payable | 229 | 255 |
Insurance Premium Financing [Member] | ||
Note payable | $ 26 | $ 103 |
Note 14 - Notes Payable - Sch_2
Note 14 - Notes Payable - Schedule of Future Maturities (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
2024 (remaining nine months) | $ 187 |
2025 | 215 |
2026 | 119 |
2027 | 124 |
2028 | 753 |
Thereafter | 0 |
Total | $ 1,398 |
Note 15 - Equity (Details Textu
Note 15 - Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||||
Apr. 11, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 09, 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 | ||||
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) | 18,724,596 | 18,724,596 | |||
Share-Based Payment Arrangement, Expense | $ 600 | $ 200 | |||
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 0 | $ 0 | |||
December 2022 Private Placement [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 3 years | ||||
December 2022 Private Placement [Member] | Dawson James [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 3 years | ||||
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 | $ 6,000 |
Note 16 - Related Party Trans_2
Note 16 - Related Party Transactions (Details Textual) | 1 Months Ended | 3 Months Ended | ||||||||||||
Jul. 07, 2023 USD ($) | Jul. 01, 2023 USD ($) shares | May 09, 2023 shares | May 01, 2023 USD ($) | Feb. 01, 2023 USD ($) | Dec. 30, 2022 | Sep. 02, 2022 USD ($) | Jul. 12, 2022 USD ($) | Apr. 30, 2023 USD ($) | Mar. 31, 2024 USD ($) $ / shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) $ / shares | May 05, 2023 USD ($) $ / shares shares | Aug. 30, 2022 USD ($) shares | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||||
Reverse Stock Split [Member] | ||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 200 | |||||||||||||
Predecessor Company [Member] | ||||||||||||||
Investment Owned, Balance, Shares (in shares) | 105,000 | |||||||||||||
Progressive Care [Member] | ||||||||||||||
Investment Owned, Balance, Shares (in shares) | 402,269 | 455,000 | ||||||||||||
Investment Owned, Price Per Share (in dollars per share) | $ / shares | $ 2.2 | |||||||||||||
Investment Owned, Cost | $ | $ 1,000,000 | |||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | |||||||||||||
Proceeds from Warrant Exercises | $ | $ 506,000 | |||||||||||||
Investment Owned, Balance, Shares From Warrants Exercised (in shares) | 230,000 | |||||||||||||
Iliad [Member] | Secured Convertible Promissory Note [Member] | ||||||||||||||
Payments to Acquire Notes Receivable | $ | $ 1,000,000 | |||||||||||||
Debt Conversion Agreement [Member] | Predecessor Company [Member] | ||||||||||||||
Long-Term Debt, Gross | $ | $ 2,800,000 | |||||||||||||
Lauren Sturges Fernandez [Member] | ||||||||||||||
Annual Salary | $ | $ 95,000 | $ 125,000 | ||||||||||||
Salary and Wage, NonOfficer, Excluding Cost of Good and Service Sold | $ | $ 10,995 | |||||||||||||
CEO and Board Member [Member] | Iliad [Member] | Secured Convertible Promissory Note [Member] | ||||||||||||||
Payments to Acquire Notes Receivable, Including Contributions by Related Parties | $ | 2,300,000 | |||||||||||||
Chief Operating Officer [Member] | Iliad [Member] | Secured Convertible Promissory Note [Member] | ||||||||||||||
Payments to Acquire Notes Receivable | $ | $ 400,000 | |||||||||||||
NextPlat Corp [Member] | Progressive Care [Member] | Debt Converted to Common Stock [Member] | ||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 570,599 | |||||||||||||
NextPlat Corp [Member] | Predecessor Company [Member] | ||||||||||||||
Investment Owned, Balance, Shares (in shares) | 45,653 | |||||||||||||
Chief Executive Officer [Member] | Progressive Care [Member] | Inducement Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 190,000 | |||||||||||||
Chief Executive Officer [Member] | Progressive Care [Member] | Debt Converted to Common Stock [Member] | ||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 228,240 | |||||||||||||
Chief Executive Officer [Member] | Predecessor Company [Member] | ||||||||||||||
Investment Owned, Balance, Shares (in shares) | 18,261 | |||||||||||||
Chief Executive Officer [Member] | Progressive Care [Member] | ||||||||||||||
Investment Owned, Balance, Shares From Warrants Exercised (in shares) | 211,470 | |||||||||||||
Board Member [Member] | Progressive Care [Member] | Inducement Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 30,000 | |||||||||||||
Board Member [Member] | Progressive Care [Member] | Debt Converted to Common Stock [Member] | ||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 228,240 | |||||||||||||
Board Member [Member] | Predecessor Company [Member] | ||||||||||||||
Investment Owned, Balance, Shares (in shares) | 18,261 | |||||||||||||
Board Member [Member] | Progressive Care [Member] | ||||||||||||||
Investment Owned, Balance, Shares From Warrants Exercised (in shares) | 130,571 | |||||||||||||
Progressive Care [Member] | ||||||||||||||
Management and Administrative Service Revenue, Per Month | $ | $ 20,000 | $ 25,000 | ||||||||||||
Proceeds From Management and Administrative Service | $ | $ 60,000 | $ 50,000 | ||||||||||||
Fernandez And Barreto [Member] | Progressive Care [Member] | ||||||||||||||
Related Party, Ownership Percentage | 53% | |||||||||||||
Related Party [Member] | ||||||||||||||
Notes Receivable, Principal | $ | $ 250,000 | |||||||||||||
Notes Receivable, Interest Rate | 7% | |||||||||||||
Financing Receivable, before Allowance for Credit Loss | $ | $ 260,000 | $ 256,000 |
Note 18 - Leases (Details Textu
Note 18 - Leases (Details Textual) | 1 Months Ended | 3 Months Ended | |||||
Dec. 02, 2021 USD ($) ft² | May 31, 2018 USD ($) | Sep. 30, 2021 USD ($) | Aug. 31, 2020 USD ($) | Mar. 31, 2024 USD ($) ft² | Mar. 31, 2024 GBP (£) ft² | Mar. 31, 2023 USD ($) | |
Operating Lease, Impairment Loss | $ 132,000 | $ 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 | ||||||
Annual 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 | |||||
Annual Rent | $ 37,107 | £ 30,000 | |||||
Foreign Currency Exchange Rate, Translation | 1.24 | 1.24 | |||||
Lessee, Operating Lease, Renewal Term (Month) | 12 months | 12 months | |||||
Progressive Care [Member] | Finance Obligation for Pharmacy Equipment [Member] | |||||||
Finance Lease, Liability | $ 115,000 | ||||||
Finance Lease, Monthly Payment | $ 1,678 | ||||||
Lessee, Finance Lease, Term of Contract (Month) | 84 months | ||||||
Lessee, Finance Lease, Interest Rate | 6% | ||||||
Progressive Care [Member] | Orlando Pharmacy [Member] | |||||||
Lessee, Operating Lease, Term of Contract (Month) | 66 months | ||||||
Operating Lease, Monthly Payment | $ 4,310 | ||||||
Progressive Care [Member] | North Miami Beach Pharmacy [Member] | |||||||
Lessee, Operating Lease, Term of Contract (Month) | 60 months | ||||||
Operating Lease, Monthly Payment | $ 5,237 |
Note 19 - Reportable Segments_2
Note 19 - Reportable Segments (Details Textual) | 3 Months Ended |
Mar. 31, 2024 | |
Number of Reportable Segments | 2 |
Note 19 - Reportable Segments -
Note 19 - Reportable Segments - Schedule of Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | $ 17,493 | $ 2,876 |
Cost of revenue | 12,683 | 2,255 |
Selling, general and administrative | 2,005 | 788 |
Salaries, wages and payroll taxes | 2,624 | 588 |
Impairment loss | 132 | 0 |
Professional fees | 985 | 321 |
Depreciation and amortization | 906 | 162 |
Expenses, Including Cost of Revenue | 19,335 | 4,114 |
Loss before other (income) expense | (1,842) | (1,238) |
Other (expense) income | (168) | (83) |
Loss before income taxes | (1,674) | (1,155) |
Income taxes | (27) | 0 |
Net loss | (1,701) | (1,187) |
Loss before equity method investment | (1,701) | (1,155) |
Equity in net loss of affiliate | 0 | (32) |
Segment Expense [Member] | ||
Selling, general and administrative | 2,005 | 788 |
Professional fees | 985 | 321 |
Depreciation and amortization | 906 | 162 |
Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 11,324 | 0 |
E-Commerce Revenue [Member] | ||
Revenue | 2,865 | 2,876 |
Pharmacy 340B Contract [Member] | ||
Revenue | 3,304 | 0 |
Consolidation, Eliminations [Member] | ||
Revenue | 0 | 0 |
Cost of revenue | 0 | 0 |
Salaries, wages and payroll taxes | 0 | 0 |
Impairment loss | 0 | |
Expenses, Including Cost of Revenue | (60) | 0 |
Loss before other (income) expense | 60 | 0 |
Other (expense) income | (60) | 0 |
Loss before income taxes | 0 | 0 |
Income taxes | 0 | 0 |
Net loss | 0 | 0 |
Loss before equity method investment | 0 | |
Equity in net loss of affiliate | 0 | |
Consolidation, Eliminations [Member] | Segment Expense [Member] | ||
Selling, general and administrative | (60) | 0 |
Professional fees | 0 | 0 |
Depreciation and amortization | 0 | 0 |
Consolidation, Eliminations [Member] | Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 0 | 0 |
Consolidation, Eliminations [Member] | E-Commerce Revenue [Member] | ||
Revenue | 0 | 0 |
Consolidation, Eliminations [Member] | Pharmacy 340B Contract [Member] | ||
Revenue | 0 | 0 |
E-Commerce [Member] | Operating Segments [Member] | ||
Revenue | 2,865 | 2,876 |
Cost of revenue | 2,060 | 2,255 |
Salaries, wages and payroll taxes | 508 | 588 |
Impairment loss | 0 | |
Expenses, Including Cost of Revenue | 4,371 | 4,114 |
Loss before other (income) expense | (1,506) | (1,238) |
Other (expense) income | (203) | (83) |
Loss before income taxes | (1,303) | (1,155) |
Income taxes | (27) | 0 |
Net loss | (1,330) | (1,187) |
Loss before equity method investment | (1,155) | |
Equity in net loss of affiliate | (32) | |
E-Commerce [Member] | Operating Segments [Member] | Segment Expense [Member] | ||
Selling, general and administrative | 1,166 | 788 |
Professional fees | 507 | 321 |
Depreciation and amortization | 130 | 162 |
E-Commerce [Member] | Operating Segments [Member] | Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 0 | 0 |
E-Commerce [Member] | Operating Segments [Member] | E-Commerce Revenue [Member] | ||
Revenue | 2,865 | 2,876 |
E-Commerce [Member] | Operating Segments [Member] | Pharmacy 340B Contract [Member] | ||
Revenue | 0 | 0 |
Healthcare Operations [Member] | ||
Revenue | 2,876 | |
Healthcare Operations [Member] | Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 0 | |
Healthcare Operations [Member] | Pharmacy 340B Contract [Member] | ||
Revenue | 0 | |
Healthcare Operations [Member] | Operating Segments [Member] | ||
Revenue | 14,628 | 0 |
Cost of revenue | 10,623 | 0 |
Salaries, wages and payroll taxes | 2,116 | 0 |
Impairment loss | 132 | |
Expenses, Including Cost of Revenue | 15,024 | 0 |
Loss before other (income) expense | (396) | 0 |
Other (expense) income | (25) | 0 |
Loss before income taxes | (371) | 0 |
Income taxes | 0 | 0 |
Net loss | (371) | 0 |
Loss before equity method investment | 0 | |
Equity in net loss of affiliate | 0 | |
Healthcare Operations [Member] | Operating Segments [Member] | Segment Expense [Member] | ||
Selling, general and administrative | 899 | 0 |
Professional fees | 478 | 0 |
Depreciation and amortization | 776 | 0 |
Healthcare Operations [Member] | Operating Segments [Member] | Pharmacy Prescription and Other Revenue, Net of PBM Fees [Member] | ||
Revenue | 11,324 | 0 |
Healthcare Operations [Member] | Operating Segments [Member] | E-Commerce Revenue [Member] | ||
Revenue | 0 | 0 |
Healthcare Operations [Member] | Operating Segments [Member] | Pharmacy 340B Contract [Member] | ||
Revenue | $ 3,304 | $ 0 |
Note 19 - Reportable Segments_3
Note 19 - Reportable Segments - Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Total Assets | $ 65,061 | $ 64,469 |
Operating Segments [Member] | E-Commerce [Member] | ||
Total Assets | 40,342 | 40,764 |
Operating Segments [Member] | Healthcare Operations [Member] | ||
Total Assets | 41,398 | 40,384 |
Consolidation, Eliminations [Member] | ||
Total Assets | $ (16,679) | $ (16,679) |
Note 20 - Concentrations (Detai
Note 20 - Concentrations (Details Textual) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Amazon [Member] | ||
Concentration Risk, Percentage | 39.90% | 57.20% |
Purchases [Member] | Supplier Concentration Risk [Member] | ||
Number of Major Vendors | 1 | |
Purchases [Member] | Supplier Concentration Risk [Member] | One Vendor [Member] | ||
Concentration Risk, Percentage | 98% |
Note 20 - Concentrations - Sche
Note 20 - Concentrations - Schedules of Concentration of Risk (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | $ 17,493 | $ 2,876 |
Purchases [Member] | Supplier Concentration Risk [Member] | Globalstar Europe [Member] | ||
Purchases | $ 213 | $ 0 |
Percentage | 10.20% | 0% |
Purchases [Member] | Supplier Concentration Risk [Member] | Garmin [Member] | ||
Purchases | $ 301 | $ 594 |
Percentage | 14.30% | 20.90% |
Purchases [Member] | Supplier Concentration Risk [Member] | Iridium Satellite [Member] | ||
Purchases | $ 270 | $ 0 |
Percentage | 27.20% | 0% |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Europe [Member] | ||
Percentage | 49.90% | 71.70% |
Revenue | $ 1,430 | $ 2,063 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | North America [Member] | ||
Percentage | 18.30% | 20.40% |
Revenue | $ 523 | $ 586 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | South America [Member] | ||
Percentage | 0.80% | 0.30% |
Revenue | $ 23 | $ 9 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Asia Pacific [Member] | ||
Percentage | 14.40% | 5.50% |
Revenue | $ 413 | $ 159 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Africa [Member] | ||
Percentage | 16.60% | 2.10% |
Revenue | $ 476 | $ 59 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | All Countries [Member] | ||
Percentage | 100% | 100% |
Revenue | $ 2,865 | $ 2,876 |
Reimbursements [Member] | Customer Concentration Risk [Member] | PBM A [Member] | ||
Percentage | 33% | |
Reimbursements [Member] | Customer Concentration Risk [Member] | PBM B [Member] | ||
Percentage | 21% | |
Reimbursements [Member] | Customer Concentration Risk [Member] | PBM C [Member] | ||
Percentage | 16% |
Note 21 - Subsequent Events (De
Note 21 - Subsequent Events (Details Textual) - Subsequent Event [Member] - Outfitter Satellite, Inc. [Member] | Apr. 01, 2024 USD ($) |
Business Combination, Consideration Transferred | $ 760,000 |
Payments to Acquire Businesses, Gross | 660,000 |
Business Combination, Contingent Consideration, Liability | $ 100,000 |