Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.24.3
Business Segment Information
 9 Months Ended
Sep. 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 September 30, 2024 and 2023:
2024
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
 
Net revenues - external $ 20,780 $ 14,540 $ — $ 35,320
Net revenues - internal — 1,992 (1,992) —
Total net revenues 20,780 16,532 (1,992) 35,320
Gross profit 13,710 5,335 — 19,045
Selling, general and administrative expenses 15,780
Interest expense (476)
Other expense (4)
Income before income taxes $ 2,785
Total assets $ 54,821 $ 48,482 $ 2,000 $ 105,303
Purchases of medical equipment $ 524 $ 2,842 $ — $ 3,366
Depreciation and amortization of intangible assets $ 2,037 $ 1,108 $ — $ 3,145
2023
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
Net revenues - external $ 19,289 $ 12,620 $ — $ 31,909
Net revenues - internal — 1,598 (1,598) —
Total net revenues 19,289 14,218 (1,598) 31,909
Gross profit 11,837 3,779 — 15,616
Selling, general and administrative expenses 13,919
Interest expense (563)
Other expense (14)
Income before income taxes $ 1,120
Total assets $ 57,838 $ 42,233 $ 2,000 $ 102,071
Purchases of medical equipment $ 650 $ 859 $ — $ 1,509
Depreciation and amortization of intangible assets $ 2,038 $ 1,030 $ — $ 3,068
The financial information summarized below is presented by reportable segment for the nine months ended September 30, 2024 and 2023:
2024
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
 
Net revenues - external $ 59,617 $ 41,396 $ — $ 101,013
Net revenues - internal — 5,447 (5,447) —
Total net revenues 59,617 46,843 (5,447) 101,013
Gross profit 39,428 12,759 — 52,187
Selling, general and administrative expenses 47,912
Interest expense (1,416)
Other expense (64)
Income before income taxes $ 2,795
Total assets $ 54,821 $ 48,482 $ 2,000 $ 105,303
Purchases of medical equipment $ 4,339 $ 7,823 $ — $ 12,162
Depreciation and amortization of intangible assets $ 5,852 $ 3,226 $ — $ 9,078
2023
(in thousands) Patient Services Device Solutions
Corporate/
Eliminations
Total
Net revenues - external $ 57,382 $ 36,632 $ — $ 94,014
Net revenues - internal — 4,909 (4,909) —
Total net revenues 57,382 41,541 (4,909) 94,014
Gross profit 35,223 11,175 — 46,398
Selling, general and administrative expenses 43,560
Interest expense (1,667)
Other expense (47)
Income before income taxes $ 1,124
Total assets $ 57,838 $ 42,233 $ 2,000 $ 102,071
Purchases of medical equipment $ 4,862 $ 3,641 $ — $ 8,503
Depreciation and amortization of intangible assets $ 6,294 $ 3,070 $ — $ 9,364