Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

v3.22.2
Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The tables below present financial information for the Company’s two operating business segments.
Three Months Ended Six Months Ended
June 30, June 30,
Revenues: 2022 2021 2022 2021
Corporate clinics $ 14,492,972  $ 11,433,072  $ 27,099,971  $ 20,903,933 
Franchise operations 10,564,346  8,785,726  20,395,885  16,862,829 
Total revenues $ 25,057,318  $ 20,218,798  $ 47,495,856  $ 37,766,762 
Depreciation and amortization:
Corporate clinics 1,430,300  1,247,701  2,806,496  2,341,534 
Franchise operations 186,247  342  359,735  685 
Corporate administration 83,929  194,975  163,422  270,665 
Total depreciation and amortization $ 1,700,476  $ 1,443,018  $ 3,329,653  $ 2,612,884 
Segment operating income (loss):
Corporate clinics $ 312,617  $ 1,825,248  $ (125,447) $ 3,174,712 
Franchise operations 4,205,048  3,882,468  8,608,287  7,730,241 
Total segment operating income $ 4,517,665  $ 5,707,716  $ 8,482,840  $ 10,904,953 
Reconciliation of total segment operating income to consolidated earnings before income taxes:
Total segment operating income $ 4,517,665  $ 5,707,716  $ 8,482,840  $ 10,904,953 
Unallocated corporate (4,044,458) (3,673,373) (8,186,058) (6,898,527)
Consolidated 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 benefit $ 453,921  $ 2,017,970  $ 261,348  $ 3,968,517 
Schedule of Reconciliation of Assets from Segment to Consolidated
Segment assets: June 30,
2022
December 31,
2021
Corporate clinics $ 51,422,118  $ 40,722,898 
Franchise operations 12,782,786 12,593,912
Total segment assets 64,204,904 53,316,810
Unallocated cash and cash equivalents and restricted cash 10,035,590 19,912,338
Unallocated property and equipment 838,520 857,176
Other unallocated assets 11,156,780 11,367,885
Total assets $ 86,235,794  $ 85,454,209