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