Annual report pursuant to Section 13 and 15(d)

Consolidated Income Statements

v3.24.0.1
Consolidated Income Statements - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenues:    
Total revenues $ 117,696,356 $ 101,252,310
Cost of revenues:    
Total cost of revenues 10,546,558 9,171,063
Selling and marketing expenses 16,541,990 13,962,709
Depreciation and amortization 8,582,203 6,646,622
General and administrative expenses 81,466,088 70,233,447
Total selling, general and administrative expenses 106,590,281 90,842,778
Net loss on disposition or impairment 2,632,604 410,215
(Loss) income from operations (2,073,087) 828,254
Other income (expense), net 3,711,843 (133,101)
Income before income tax expense 1,638,756 695,153
Income tax expense 11,390,953 68,448
Net (loss) income $ (9,752,197) $ 626,705
(Loss) earnings per share:    
Basic (loss) earnings per share (in dollars per share) $ (0.66) $ 0.04
Diluted (loss) earnings per share (in dollars per share) $ (0.65) $ 0.04
Basic weighted average shares (in shares) 14,688,115 14,488,314
Diluted weighted average shares (in shares) 14,935,217 14,868,093
Revenues from company-owned or managed clinics    
Revenues:    
Total revenues $ 70,718,880 $ 59,422,294
Royalty fees    
Revenues:    
Total revenues 29,160,831 26,190,531
Franchise fees    
Revenues:    
Total revenues 2,882,895 2,441,325
Cost of revenues:    
Cost of revenues 9,063,375 7,803,404
Advertising fund revenue    
Revenues:    
Total revenues 8,321,043 7,456,696
Software fees    
Revenues:    
Total revenues 5,086,562 4,290,739
Cost of revenues:    
Cost of revenues 1,483,183 1,367,659
Other revenues    
Revenues:    
Total revenues $ 1,526,145 $ 1,450,725