Annual report pursuant to Section 13 and 15(d)

Consolidated Income Statements

v3.23.3
Consolidated Income Statements - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenues:    
Total revenues $ 101,252,310 $ 80,011,013
Cost of revenues:    
Total cost of revenues 9,171,063 7,665,138
Selling and marketing expenses 13,962,709 11,424,416
Depreciation and amortization 6,646,622 3,921,887
General and administrative expenses 70,233,447 50,846,818
Total selling, general and administrative expenses 90,842,778 66,193,121
Net loss on disposition or impairment 410,215 26,789
Income from operations 828,254 6,125,965
Other expense, net (133,101) (69,878)
Income before income tax expense (benefit) 695,153 6,056,087
Income tax expense (benefit) 68,448 (1,508,960)
Net income (as restated) $ 626,705 $ 7,565,047
Earnings per share:    
Basic earnings per share (in dollars per share) $ 0.04 $ 0.53
Diluted earnings per share (in dollars per share) $ 0.04 $ 0.51
Basic weighted average shares (in shares) 14,488,314 14,319,448
Diluted weighted average shares (in shares) 14,868,093 14,935,577
Revenues from company-owned or managed clinics    
Revenues:    
Total revenues $ 59,422,294 $ 44,348,234
Royalty fees    
Revenues:    
Total revenues 26,190,531 22,062,989
Franchise fees    
Revenues:    
Total revenues 2,441,325 2,659,097
Cost of revenues:    
Franchise and regional developer cost of revenues 7,803,404 6,559,486
Advertising fund revenue    
Revenues:    
Total revenues 7,456,696 6,298,924
Software fees    
Revenues:    
Total revenues 4,290,739 3,383,856
Cost of revenues:    
Franchise and regional developer cost of revenues 1,367,659 1,105,652
Other revenues    
Revenues:    
Total revenues $ 1,450,725 $ 1,257,913