Revenue Disclosures (Tables)
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9 Months Ended |
Sep. 30, 2023 |
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| Revenue from Contract with Customer [Abstract] |
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| Schedule of Revenue |
VIE total revenue and general administrative expenses for the three and nine-months ended September 30, 2023 and 2022 were as follows:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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(as restated) |
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(as restated) |
| Revenues |
$ |
10,688,500 |
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$ |
9,150,103 |
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$ |
30,997,617 |
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$ |
25,433,407 |
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| General and administrative expenses |
4,525,305 |
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4,079,552 |
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13,614,211 |
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11,212,760 |
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The following table shows the Company's revenues disaggregated according to the timing of transfer of services:
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Three Months Ended
September 30, 2023 |
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Nine Months Ended
September 30, 2023 |
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2023 |
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2022 |
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2023 |
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2022 |
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(as restated) |
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(as restated) |
| Revenue recognized at a point in time |
$ |
27,418,343 |
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$ |
24,697,661 |
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$ |
81,155,737 |
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$ |
68,436,945 |
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| Revenue recognized over time |
2,055,606 |
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1,752,158 |
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5,926,216 |
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5,136,988 |
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| Total Revenues |
$ |
29,473,949 |
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$ |
26,449,819 |
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$ |
87,081,953 |
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$ |
73,573,933 |
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| Schedule of Contract with Customer, Asset and Liability |
Changes in the Company's contract liability for deferred revenue from company clinics during the nine months ended September 30, 2023 were as follows:
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Deferred Revenue
from company clinics |
| Balance at December 31, 2022 |
$ |
7,471,549 |
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| Revenue recognized that was included in the contract liability at the beginning of the year |
(5,959,308) |
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| Net increase during the nine months ended September 30, 2023 |
5,026,472 |
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| Balance at September 30, 2023 |
$ |
6,538,713 |
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Changes in the Company's contract liability for deferred franchise fees during the nine months ended September 30, 2023 were as follows:
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Deferred Revenue
short and long-term |
| Balance at December 31, 2022 |
$ |
16,629,735 |
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| Revenue recognized that was included in the contract liability at the beginning of the year |
(2,042,823) |
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| Net increase during the nine months ended September 30, 2023 |
1,906,196 |
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| Balance at September 30, 2023 |
$ |
16,493,108 |
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The Company's deferred franchise and development costs represent capitalized sales commissions. Changes during the nine months ended September 30, 2023 were as follows:
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Deferred Franchise and Development Costs
short and long-term |
| Balance at December 31, 2022 |
$ |
6,761,738 |
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| Cost of revenue recognized that was included in the contract asset at the beginning of the year |
(863,619) |
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| Net increase during the nine months ended September 30, 2022 |
566,339 |
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| Balance at September 30, 2023 |
$ |
6,464,458 |
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| Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction |
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of September 30, 2023:
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| Contract liabilities expected to be recognized in |
Amount |
| 2023 (remainder) |
$ |
643,492 |
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| 2024 |
2,495,683 |
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| 2025 |
2,358,322 |
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| 2026 |
2,264,085 |
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| 2027 |
2,190,960 |
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| Thereafter |
6,540,566 |
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| Total |
$ |
16,493,108 |
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