Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Income Statements (unaudited)

v3.22.2.2
Condensed Consolidated Income Statements (unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Total revenues $ 26,603,000 $ 20,991,621 $ 74,098,856 $ 58,758,383
Cost of revenues:        
Total cost of revenues 2,490,276 2,300,122 7,230,092 6,103,976
Selling and marketing expenses 3,539,287 2,881,575 10,666,500 8,503,617
Depreciation and amortization 2,011,768 1,662,255 5,341,420 4,275,140
General and administrative expenses 17,796,806 12,812,331 49,703,451 34,513,378
Total selling, general and administrative expenses 23,347,861 17,356,161 65,711,371 47,292,135
Net loss (gain) on disposition or impairment 264,391 (3,540) 360,140 16,967
Income from operations 500,472 1,338,878 797,253 5,345,305
Other expense, net (25,235) (16,139) (60,668) (54,050)
Income before income tax (benefit) expense 475,237 1,322,739 736,585 5,291,255
Income tax (benefit) expense (15,876) (614,356) 106,527 (1,644,496)
Net income $ 491,113 $ 1,937,095 $ 630,058 $ 6,935,751
Earnings per share:        
Basic earnings per share (in dollars per share) $ 0.03 $ 0.13 $ 0.04 $ 0.49
Diluted earnings per share (in dollars per share) $ 0.03 $ 0.13 $ 0.04 $ 0.46
Basic weighted average shares (in shares) 14,512,856 14,388,905 14,474,323 14,286,818
Diluted weighted average shares (in shares) 14,829,629 14,970,328 14,878,050 14,931,759
Revenues from company-owned or managed clinics        
Revenues:        
Total revenues $ 15,836,327 $ 11,634,009 $ 42,936,298 $ 32,537,942
Royalty fees        
Revenues:        
Total revenues 6,604,653 5,714,637 19,024,799 15,816,500
Franchise fees/Franchise and regional development cost of revenues        
Revenues:        
Total revenues 642,405 648,598 1,970,256 1,967,680
Cost of revenues:        
Cost of revenues 2,141,945 1,907,874 6,219,646 5,319,278
Advertising fund revenue        
Revenues:        
Total revenues 1,881,367 1,627,693 5,417,840 4,521,342
Software fees/IT cost of revenues        
Revenues:        
Total revenues 1,109,753 840,969 3,166,732 2,387,543
Cost of revenues:        
Cost of revenues 348,331 392,248 1,010,446 784,698
Regional developer fees        
Revenues:        
Total revenues 153,181 209,651 524,923 642,041
Other revenues        
Revenues:        
Total revenues $ 375,314 $ 316,064 $ 1,058,008 $ 885,335