Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Income Statements (unaudited)

v3.23.3
Condensed Consolidated Income Statements (unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 29,307,184 $ 24,887,365 $ 57,608,005 $ 47,124,116
Cost of revenues:        
Cost of revenues   1,904,936   3,705,961
Total cost of revenues 2,595,512 2,257,092 5,070,197 4,368,076
Selling and marketing expenses 4,707,818 3,839,724 8,868,062 7,127,212
Depreciation and amortization 2,329,267 1,461,870 4,544,322 2,798,527
General and administrative expenses 19,904,796 18,570,301 39,943,272 34,103,726
Total selling, general and administrative expenses 26,941,881 23,871,895 53,355,656 44,029,465
Net loss on disposition or impairment 144,345 88,844 209,815 95,749
Loss from operations (374,554) (1,330,466) (1,027,663) (1,369,174)
Other income (expense), net (106,520) (19,286) 3,714,642 (35,434)
(Loss) income before income tax expense (481,074) (1,349,752) 2,686,979 (1,404,608)
Income tax (benefit) expense (160,585) (477,884) 681,304 (536,960)
Net (loss) income $ (320,489) $ (871,868) $ 2,005,675 $ (867,648)
Earnings per share:        
Basic earnings per share (in dollars per share) $ (0.02) $ (0.06) $ 0.14 $ (0.06)
Diluted earnings per share (in dollars per share) $ (0.02) $ (0.06) $ 0.13 $ (0.06)
Basic weighted average shares (in shares) 14,684,035 14,475,825 14,625,435 14,454,738
Diluted weighted average shares (in shares) 14,952,363 14,842,816 14,907,593 14,887,238
Revenues from company-owned or managed clinics        
Revenues:        
Total revenues $ 17,802,838 $ 14,492,972 $ 34,930,795 $ 27,099,971
Royalty fees        
Revenues:        
Total revenues 7,172,159 6,411,214 14,038,182 12,420,146
Franchise fees/Franchise and regional development cost of revenues        
Revenues:        
Total revenues 671,368 686,886 1,425,794 1,327,851
Cost of revenues:        
Cost of revenues 2,236,442 1,904,936 4,377,277 3,705,961
Advertising fund revenue        
Revenues:        
Total revenues 2,041,050 1,825,757 3,993,455 3,536,474
Software fees/IT cost of revenues        
Revenues:        
Total revenues 1,234,812 1,099,981 2,444,817 2,056,979
Cost of revenues:        
Cost of revenues 359,070 352,156 692,920 662,115
Regional developer fees        
Revenues:        
Total revenues 0 0 0 0
Other revenues        
Revenues:        
Total revenues $ 384,957 $ 370,555 $ 774,962 $ 682,695