| 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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Six Months Ended |
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June 30, |
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June 30, |
Revenues: |
2021 |
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2020 |
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2021 |
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2020 |
Corporate clinics |
$ |
11,433,072 |
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$ |
6,856,807 |
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$ |
20,903,933 |
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$ |
14,151,102 |
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Franchise operations |
8,785,726 |
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5,732,986 |
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16,862,829 |
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12,083,177 |
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Total revenues |
$ |
20,218,798 |
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$ |
12,589,793 |
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$ |
37,766,762 |
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$ |
26,234,279 |
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Depreciation and amortization: |
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| Corporate clinics |
1,247,701 |
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614,365 |
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2,341,534 |
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1,191,909 |
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| Franchise operations |
342 |
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342 |
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685 |
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685 |
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| Corporate administration |
194,975 |
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78,693 |
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270,665 |
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155,055 |
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| Total depreciation and amortization |
$ |
1,443,018 |
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$ |
693,400 |
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$ |
2,612,884 |
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$ |
1,347,649 |
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Segment operating income: |
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Corporate clinics |
$ |
1,825,248 |
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$ |
565,220 |
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$ |
3,174,712 |
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$ |
1,348,925 |
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Franchise operations |
3,882,468 |
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2,529,516 |
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7,730,241 |
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5,373,814 |
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Total segment operating income |
$ |
5,707,716 |
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$ |
3,094,736 |
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$ |
10,904,953 |
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$ |
6,722,739 |
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| Reconciliation of total segment operating income to consolidated earnings before income taxes: |
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| Total segment operating income |
$ |
5,707,716 |
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$ |
3,094,736 |
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$ |
10,904,953 |
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$ |
6,722,739 |
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Unallocated corporate |
(3,673,373) |
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(2,836,152) |
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(6,898,527) |
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(5,710,805) |
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| Consolidated income from operations |
2,034,343 |
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258,584 |
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4,006,426 |
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1,011,934 |
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| Other expense, net |
16,373 |
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25,243 |
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37,909 |
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29,581 |
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| Income before income tax benefit |
$ |
2,017,970 |
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$ |
233,341 |
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$ |
3,968,517 |
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$ |
982,353 |
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
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| Segment assets: |
June 30,
2021 |
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December 31,
2020 |
| Corporate clinics |
$ |
36,223,283 |
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$ |
24,928,311 |
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| Franchise operations |
11,451,570 |
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9,744,375 |
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| Total segment assets |
47,674,853 |
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34,672,686 |
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| Unallocated cash and cash equivalents and restricted cash |
18,834,345 |
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20,819,629 |
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| Unallocated property and equipment |
973,530 |
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1,063,815 |
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| Other unallocated assets |
10,581,974 |
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9,176,713 |
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| Total assets |
$ |
78,064,702 |
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$ |
65,732,843 |
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