| Business Segment Information |
Business Segment Information The Company’s reportable segments are organized based on service platforms, with the Patient Services segment reflecting higher margin rental revenues that generally include payments made by third-party and direct payers and the Device Solutions 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 March 31, 2024 and 2023:
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| 2024 |
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| (in thousands) |
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Patient Services |
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Device Solutions |
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Corporate/
Eliminations
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Total |
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| Net revenues - external |
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$ |
18,591 |
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$ |
13,404 |
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$ |
— |
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$ |
31,995 |
| Net revenues - internal |
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— |
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1,713 |
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(1,713) |
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— |
| Total net revenues |
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18,591 |
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15,117 |
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(1,713) |
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31,995 |
| Gross profit |
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12,274 |
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4,200 |
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— |
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16,474 |
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| Selling, general and administrative expenses |
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17,319 |
| Interest expense |
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(456) |
| Other income |
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3 |
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| Loss before income taxes |
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$ |
(1,298) |
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| Total assets |
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$ |
57,996 |
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$ |
44,854 |
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$ |
2,000 |
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$ |
104,850 |
| Purchases of medical equipment |
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$ |
350 |
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$ |
1,143 |
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$ |
— |
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$ |
1,493 |
| Depreciation and amortization of intangible assets |
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$ |
1,856 |
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$ |
1,044 |
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$ |
— |
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$ |
2,900 |
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| 2023 |
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| (in thousands) |
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Patient Services |
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Device Solutions |
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Corporate/
Eliminations
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Total |
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| Net revenues - external |
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$ |
18,774 |
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$ |
11,596 |
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$ |
— |
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$ |
30,370 |
| Net revenues - internal |
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— |
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1,630 |
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(1,630) |
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— |
| Total net revenues |
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18,774 |
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13,226 |
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(1,630) |
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30,370 |
| Gross profit |
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11,541 |
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3,409 |
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— |
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14,950 |
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| Selling, general and administrative expenses |
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15,057 |
| Interest expense |
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(484) |
| Other expense |
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(35) |
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| Loss before income taxes |
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$ |
(626) |
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| Total assets |
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$ |
62,769 |
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$ |
37,492 |
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$ |
2,000 |
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$ |
102,261 |
| Purchases of medical equipment |
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$ |
2,673 |
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$ |
1,295 |
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$ |
— |
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$ |
3,968 |
| Depreciation and amortization of intangible assets |
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$ |
2,178 |
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$ |
1,025 |
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$ |
— |
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$ |
3,203 |
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