Quarterly report pursuant to Section 13 or 15(d)

CONCENTRATIONS

v3.22.1
CONCENTRATIONS
 3 Months Ended
Mar. 31, 2022
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

NOTE 12 - CONCENTRATIONS

 

Customers:

 

Amazon accounted for 45.9% and 53.6% of the Company’s revenues during the three months ended March 31, 2022 and 2021, respectively. No other customer accounted for 10% or more of the Company’s revenues for either period.

 

 

NEXTPLAT CORP AND SUBSIDIARIES

FKA: ORBSAT CORP

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 12 – CONCENTRATIONS (continued)

 

Suppliers:

 

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchases for the three months ended March 31, 2022 and 2021.

 

    March 31, 2022           March 31, 2021        
                         
Globalstar Europe   $ 92,799       3.1 %   $ 140,829       10.1 %
Garmin   $ 415,965       14.0 %   $ 236,243       16.9 %
Network Innovations   $ 320,516       10.8 %   $ 129,931       9.3 %
Cygnus Telecom   $ 940,914       31.7 %   $ 132,519       9.5 %
Satcom Global   $ 282,830       9.5 %   $ 239,805       17.2 %

 

Geographic:

 

The following table sets forth revenue as to each geographic location, for the three months ended March 31, 2022 and 2021:

    March 31, 2022           March 31, 2021        
                         
Europe   $ 2,899,398       81.0 %   $ 1,012,258       69.0 %
North America     437,216       12.2 %     308,072       21.0 %
South America     11,773       0.3 %     7,718       0.5 %
Asia & Pacific     196,169       5.5 %     105,932       7.2 %
Africa     33,222       0.9 %     27,448       1.9 %
    $ 3,577,778             $ 1,461,428