Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Income Statements (unaudited)

v3.21.2
Condensed Consolidated Income Statements (unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Total revenues $ 20,218,798 $ 12,589,793 $ 37,766,762 $ 26,234,279
Cost of revenues:        
Total cost of revenues 2,038,538 1,367,641 3,803,854 2,853,797
Selling and marketing expenses 3,132,715 1,783,666 5,622,043 3,838,954
Depreciation and amortization 1,443,018 693,400 2,612,884 1,347,649
General and administrative expenses 11,614,444 8,541,108 21,701,047 17,235,358
Total selling, general and administrative expenses 16,190,177 11,018,174 29,935,974 22,421,961
Net (gain) loss on disposition or impairment (44,260) (54,606) 20,508 (53,413)
Income from operations 2,034,343 258,584 4,006,426 1,011,934
Other expense, net (16,373) (25,243) (37,909) (29,581)
Income before income tax (benefit) expense 2,017,970 233,341 3,968,517 982,353
Income tax (benefit) expense (665,992) 117,756 (1,030,140) 51,821
Net income $ 2,683,962 $ 115,585 $ 4,998,657 $ 930,532
Earnings per share:        
Basic earnings per share (in dollars per share) $ 0.19 $ 0.01 $ 0.35 $ 0.07
Diluted earnings per share (in dollars per share) $ 0.18 $ 0.01 $ 0.34 $ 0.06
Basic weighted average shares (in shares) 14,290,697 13,980,984 14,234,929 13,935,829
Diluted weighted average shares (in shares) 14,927,451 14,491,639 14,901,863 14,487,083
Revenues from company-owned or managed clinics        
Revenues:        
Total revenues $ 11,433,072 $ 6,856,807 $ 20,903,933 $ 14,151,102
Royalty fees        
Revenues:        
Total revenues 5,332,618 3,268,653 10,101,862 6,986,883
Franchise fees/Franchise and regional development cost of revenues        
Revenues:        
Total revenues 623,655 523,964 1,319,082 1,036,716
Cost of revenues:        
Cost of revenues 1,786,833 1,275,191 3,411,404 2,692,682
Advertising fund revenue        
Revenues:        
Total revenues 1,518,908 930,795 2,893,650 1,988,413
Software fees/IT cost of revenues        
Revenues:        
Total revenues 786,037 631,198 1,546,574 1,276,922
Cost of revenues:        
Cost of revenues 251,705 92,450 392,450 161,115
Regional developer fees        
Revenues:        
Total revenues 214,434 213,424 432,390 421,066
Other revenues        
Revenues:        
Total revenues $ 310,074 $ 164,952 $ 569,271 $ 373,177