Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.24.2.u1
Business Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
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 June 30, 2024 and 2023:
2024
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
 
Net revenues - external $ 20,246 $ 13,452 $ — $ 33,698
Net revenues - internal — 1,742 (1,742) —
Total net revenues 20,246 15,194 (1,742) 33,698
Gross profit 13,444 3,224 — 16,668
Selling, general and administrative expenses 14,813
Interest expense (484)
Other expense (63)
Income before income taxes $ 1,308
Total assets $ 58,790 $ 47,737 $ 2,000 $ 108,527
Purchases of medical equipment $ 3,465 $ 3,838 $ — $ 7,303
Depreciation and amortization of intangible assets $ 1,959 $ 1,074 $ — $ 3,033
2023
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
Net revenues - external $ 19,319 $ 12,416 $ — $ 31,735
Net revenues - internal — 1,681 (1,681) —
Total net revenues 19,319 14,097 (1,681) 31,735
Gross profit 11,845 3,987 — 15,832
Selling, general and administrative expenses 14,584
Interest expense (620)
Other income 2
Income before income taxes $ 630
Total assets $ 60,243 $ 40,506 $ 2,000 $ 102,749
Purchases of medical equipment $ 1,539 $ 1,487 $ — $ 3,026
Depreciation and amortization of intangible assets $ 2,078 $ 1,015 $ — $ 3,093
The financial information summarized below is presented by reportable segment for the six months ended June 30, 2024 and 2023:
2024
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
 
Net revenues - external $ 38,837 $ 26,856 $ — $ 65,693
Net revenues - internal — 3,455 (3,455) —
Total net revenues 38,837 30,311 (3,455) 65,693
Gross profit 25,718 7,424 — 33,142
Selling, general and administrative expenses 32,132
Interest expense (940)
Other expense (60)
Income before income taxes $ 10
Total assets $ 58,790 $ 47,737 $ 2,000 $ 108,527
Purchases of medical equipment $ 3,815 $ 4,981 $ — $ 8,796
Depreciation and amortization of intangible assets $ 3,815 $ 2,118 $ — $ 5,933
2023
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
Net revenues - external $ 38,093 $ 24,012 $ — $ 62,105
Net revenues - internal — 3,311 (3,311) —
Total net revenues 38,093 27,323 (3,311) 62,105
Gross profit 23,386 7,396 — 30,782
Selling, general and administrative expenses 29,641
Interest expense (1,104)
Other expense (33)
Income before income taxes $ 4
Total assets $ 60,243 $ 40,506 $ 2,000 $ 102,749
Purchases of medical equipment $ 4,212 $ 2,782 $ — $ 6,994
Depreciation and amortization of intangible assets $ 4,256 $ 2,040 $ — $ 6,296