| Schedule of Segment Reporting Information, by Segment |
The tables below present financial information for the Company’s two operating business segments.
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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| Revenues: |
2022 |
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2021 |
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2022 |
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2021 |
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| Corporate clinics |
$ |
15,836,327 |
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$ |
11,634,009 |
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$ |
42,936,298 |
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$ |
32,537,942 |
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| Franchise operations |
10,766,673 |
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9,357,612 |
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31,162,558 |
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26,220,441 |
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| Total revenues |
$ |
26,603,000 |
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$ |
20,991,621 |
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$ |
74,098,856 |
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$ |
58,758,383 |
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| Depreciation and amortization: |
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| Corporate clinics |
1,736,757 |
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1,538,251 |
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4,543,253 |
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3,879,786 |
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| Franchise operations |
189,426 |
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165,475 |
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549,161 |
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166,159 |
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| Corporate administration |
85,585 |
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(41,471) |
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249,006 |
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229,195 |
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| Total depreciation and amortization |
$ |
2,011,768 |
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$ |
1,662,255 |
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$ |
5,341,420 |
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$ |
4,275,140 |
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| Segment operating income (loss): |
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| Corporate clinics |
$ |
(291,866) |
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$ |
1,241,081 |
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$ |
(417,313) |
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$ |
4,415,793 |
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| Franchise operations |
5,195,558 |
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4,156,829 |
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13,803,845 |
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11,887,071 |
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| Total segment operating income |
$ |
4,903,692 |
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$ |
5,397,910 |
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$ |
13,386,532 |
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$ |
16,302,864 |
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| Reconciliation of total segment operating income to consolidated earnings before income taxes: |
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| Total segment operating income |
$ |
4,903,692 |
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$ |
5,397,910 |
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$ |
13,386,532 |
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$ |
16,302,864 |
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| Unallocated corporate |
(4,403,220) |
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(4,059,032) |
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(12,589,279) |
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(10,957,559) |
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| Consolidated income from operations |
500,472 |
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1,338,878 |
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797,253 |
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5,345,305 |
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| Other expense, net |
(25,235) |
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(16,139) |
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(60,668) |
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(54,050) |
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| Income before income tax benefit |
$ |
475,237 |
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$ |
1,322,739 |
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$ |
736,585 |
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$ |
5,291,255 |
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
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| Segment assets: |
September 30,
2022 |
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December 31,
2021 |
| Corporate clinics |
$ |
52,689,649 |
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$ |
40,722,898 |
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| Franchise operations |
13,057,205 |
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12,593,912 |
| Total segment assets |
65,746,854 |
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53,316,810 |
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| Unallocated cash and cash equivalents |
10,272,112 |
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19,912,338 |
| Unallocated property and equipment |
900,494 |
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857,176 |
| Other unallocated assets |
11,371,938 |
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11,367,885 |
| Total assets |
$ |
88,291,398 |
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$ |
85,454,209 |
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