Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.22.2
Business Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Business Segment Information Business Segment InformationThe Company’s reportable segments are organized based on service platforms, with the ITS segment reflecting higher margin rental revenues that generally include payments made by third-party and direct payers and the DME Services segment reflecting lower margin product sales, direct payer rental and service revenues. Resources are allocated and performance is assessed for these segments by the Company’s Chief Executive Officer, whom the Company has determined to be its chief operating decision-maker. The Company believes that reporting performance at the gross profit level is the best indicator of segment performance.
The financial information summarized below is presented by reportable segment for the three months ended June 30, 2022 and 2021:
2022
(in thousands) ITS DME Services
Corporate/
Eliminations
Total
         
Net revenues - external $ 17,244 $ 9,798 $ — $ 27,042
Net revenues - internal — 1,762 (1,762) —
Total net revenues 17,244 11,560 (1,762) 27,042
Gross profit 10,113 4,788 — 14,901
Selling, general and administrative expenses 14,694 14,694
Interest expense (314) (314)
Other expense (30) (30)
Provision for income taxes (27) (27)
Net loss $ (164)
Total assets $ 62,310 $ 34,507 $ 2,000 $ 98,817
Purchases of medical equipment $ 3,325 $ 413 $ — $ 3,738
Depreciation and amortization of intangible assets $ 2,371 $ 1,029 $ — $ 3,400
2021
(in thousands) ITS DME Services
Corporate/Eliminations
Total
 
Net revenues - external $ 16,334 $ 8,500 $ — $ 24,834
Net revenues - internal — 1,598 (1,598) —
Total net revenues 16,334 10,098 (1,598) 24,834
Gross profit 10,451 4,599 — 15,050
Selling, general and administrative expenses 14,354 14,354
Interest expense (317) (317)
Other expense (37) (37)
Benefit from income taxes 478 478
Net income $ 820
Total assets $ 60,876 $ 33,121 $ 2,000 $ 95,997
Purchases of medical equipment $ 1,871 $ 736 $ — $ 2,607
Depreciation and amortization of intangible assets $ 2,732 $ 927 $ — $ 3,659
The financial information summarized below is presented by reportable segment for the six months ended June 30, 2022 and 2021:
2022
(in thousands) ITS DME Services
Corporate/
Eliminations
Total
 
Net revenues - external $ 33,885 $ 19,920 $ — $ 53,805
Net revenues - internal — 3,250 (3,250) —
Total net revenues 33,885 23,170 (3,250) 53,805
Gross profit 20,851 9,417 — 30,268
Selling, general and administrative expenses 30,586 30,586
Interest expense (591) (591)
Other expense (58) (58)
Benefit from income taxes 435 435
Net loss $ (532)
Total assets $ 62,310 $ 34,507 $ 2,000 $ 98,817
Purchases of medical equipment $ 4,836 $ 1,833 $ — $ 6,669
Depreciation and amortization of intangible assets $ 4,769 $ 2,047 $ — $ 6,816
2021
(in thousands) ITS DME Services
Corporate/
Eliminations
Total
Net revenues - external $ 32,245 $ 17,052 $ — $ 49,297
Net revenues - internal — 3,044 (3,044) —
Total net revenues 32,245 20,096 (3,044) 49,297
Gross profit 20,454 9,172 — 29,626
Selling, general and administrative expenses 28,057 28,057
Interest expense (639) (639)
Other expense (106) (106)
Benefit from income taxes 657 657
Net income $ 1,481
Total assets $ 60,876 $ 33,121 $ 2,000 $ 95,997
Purchases of medical equipment $ 3,492 $ 1,451 $ — $ 4,943
Depreciation and amortization of intangible assets $ 5,428 $ 1,801 $ — $ 7,229