Revenue Disclosures (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Revenue from Contract with Customer [Abstract] |
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| Schedule of Disaggregation of Revenue |
VIE total revenue and general and administrative expenses for the three and six months ended June 30, 2023 and 2022 were as follows:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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(as restated) |
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(as restated) |
| Revenues |
$ |
10,426,826 |
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$ |
8,480,265 |
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$ |
20,309,117 |
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$ |
16,283,304 |
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| General and administrative expenses |
4,491,638 |
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3,720,307 |
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9,088,906 |
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7,133,208 |
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The following table shows the Company's revenues disaggregated according to the timing of transfer of services:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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(as restated) |
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(as restated) |
| Revenue recognized at a point in time |
$ |
27,401,004 |
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$ |
23,100,498 |
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$ |
53,737,394 |
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$ |
43,739,286 |
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| Revenue recognized over time |
1,906,180 |
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1,786,867 |
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3,870,611 |
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3,384,830 |
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| Total Revenues |
$ |
29,307,184 |
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$ |
24,887,365 |
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$ |
57,608,005 |
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$ |
47,124,116 |
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| Schedule of Contract with Customer, Asset and Liability |
Changes in the Company's contract liability for deferred revenue from company clinics during the six months ended June 30, 2023 were as follows:
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Deferred Revenue from company clinics |
| Balance at December 31, 2022 |
$ |
7,471,549 |
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| Revenue recognized that was included in the contract liability at the beginning of the year |
(5,202,787) |
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| Net increase during the six months ended June 30, 2023 |
5,420,686 |
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| Balance at June 30, 2023 |
$ |
7,689,448 |
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Changes in the Company's contract liability for deferred franchise fees during the six months ended June 30, 2023 were as follows:
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Deferred Revenue
short and long-term |
| Balance at December 31, 2022, as restated |
$ |
16,629,735 |
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| Revenue recognized that was included in the contract liability at the beginning of the year |
(1,363,506) |
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| Net increase during the six months ended June 30, 2023 |
1,447,506 |
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| Balance at June 30, 2023 |
$ |
16,713,735 |
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The Company's deferred franchise and development costs represent capitalized sales commissions. Changes during the six months ended June 30, 2023 were as follows:
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Deferred Franchise and Development Costs
short and long-term |
| Balance at December 31, 2022 |
$ |
6,761,738 |
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| Recognized as cost of revenue during the six months ended June 30, 2023 |
(490,939) |
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| Net increase during the six months ended June 30, 2022 |
393,665 |
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| Balance at June 30, 2023 |
$ |
6,664,464 |
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| Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction |
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of June 30, 2023:
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| Contract liabilities expected to be recognized in |
Amount |
| 2023 (remainder) |
$ |
1,272,496 |
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| 2024 |
2,459,511 |
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| 2025 |
2,322,249 |
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| 2026 |
2,228,012 |
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| 2027 |
2,154,886 |
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| Thereafter |
6,276,581 |
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| Total |
$ |
16,713,735 |
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