Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Income Statements (unaudited)

v3.22.2
Condensed Consolidated Income Statements (unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenues $ 25,057,318 $ 20,218,798 $ 47,495,856 $ 37,766,762
Cost of revenues:        
Total cost of revenues 2,427,045 2,038,538 4,739,816 3,803,854
Selling and marketing expenses 3,839,724 3,132,715 7,127,212 5,622,043
Depreciation and amortization 1,700,476 1,443,018 3,329,653 2,612,884
General and administrative expenses 16,528,022 11,614,444 31,906,644 21,701,047
Total selling, general and administrative expenses 22,068,222 16,190,177 42,363,509 29,935,974
Net loss (gain) on disposition or impairment 88,844 (44,260) 95,749 20,508
Income from operations 473,207 2,034,343 296,782 4,006,426
Other expense, net (19,286) (16,373) (35,434) (37,909)
Income before income tax expense (benefit) 453,921 2,017,970 261,348 3,968,517
Income tax expense (benefit) 109,179 (665,992) 122,403 (1,030,140)
Net income $ 344,742 $ 2,683,962 $ 138,945 $ 4,998,657
Earnings per share:        
Basic earnings per share (in dollars per share) $ 0.02 $ 0.19 $ 0.01 $ 0.35
Diluted earnings per share (in dollars per share) $ 0.02 $ 0.18 $ 0.01 $ 0.34
Basic weighted average shares (in shares) 14,475,825 14,290,697 14,454,738 14,234,929
Diluted weighted average shares (in shares) 14,842,816 14,927,451 14,887,238 14,901,863
Revenues from company-owned or managed clinics        
Revenues:        
Total revenues $ 14,492,972 $ 11,433,072 $ 27,099,971 $ 20,903,933
Royalty fees        
Revenues:        
Total revenues 6,411,214 5,332,618 12,420,146 10,101,862
Franchise fees/Franchise and regional development cost of revenues        
Revenues:        
Total revenues 686,886 623,655 1,327,851 1,319,082
Cost of revenues:        
Cost of revenues 2,074,889 1,786,833 4,077,701 3,411,404
Advertising fund revenue        
Revenues:        
Total revenues 1,825,757 1,518,908 3,536,474 2,893,650
Software fees/IT cost of revenues        
Revenues:        
Total revenues 1,099,981 786,037 2,056,979 1,546,574
Cost of revenues:        
Cost of revenues 352,156 251,705 662,115 392,450
Regional developer fees        
Revenues:        
Total revenues 169,953 214,434 371,740 432,390
Other revenues        
Revenues:        
Total revenues $ 370,555 $ 310,074 $ 682,695 $ 569,271