Business Segment Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Business Segment Information

11. Business Segment Information

The Company conducts business in three operating segments, Transportation Services, Mobile Health Services and Corporate. In accordance with ASC 280, Segment Reporting, operating segments are components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, the Company’s Chief Executive Officer, in deciding how to allocate resources and assessing performance. Prior to 2023, the Company reported in two segments, because the Company’s entities have two main revenue streams. Beginning with the first quarter of 2023, the Company is now reporting in three operating segments, adding a Corporate segment to allow for analysis of shared services and personnel that support both the Transportation Services and Mobile Health Services segments. Previously, these costs had been allocated almost entirely to the Transportation Services segment. All of the Company’s revenues and costs of goods sold continue to be reported within the Transportation Services and Mobile Health Services segments. The Corporate segment contains operating expenses such as information technology costs, certain insurance costs and the compensation costs of senior and executive leadership. The segment reporting for the prior-year period has been adjusted to conform to the new methodology, for the purposes of allowing a clearer analysis of year-over-year performance. The Company’s chief operating decision maker evaluates the Company’s financial information and resources and assesses the performance of these resources by revenue stream and by operating income or loss performance.

The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its Transportation Services, Mobile Health Services and Corporate segments based primarily on results of operations.

Operating results for the business segments of the Company are as follows:

	Transportation  Services			Mobile Health Services		Corporate			Total
Three Months Ended March 31, 2023
Revenues	$	40,055,946		$	72,946,757	$	-		$	113,002,703
Income (loss) from operations		1,083,040			13,188,159		(21,173,786	)		(6,902,587	)
Total assets		118,998,556			152,352,877		136,193,743			407,545,176
Depreciation and amortization expense		1,863,304			716,539		1,069,486			3,649,329
Stock compensation		259,693			116,934		8,073,389			8,450,016
Long-lived assets		67,461,536			30,920,781		9,954,851			108,337,168
Three Months Ended March 31, 2022
Revenues	$	27,812,510		$	90,079,042	$	-		$	117,891,552
Income (loss) from operations		(2,538,760	)		23,402,298		(10,768,973	)		10,094,565
Total assets		73,244,007			48,736,456		203,215,841			325,196,304
Depreciation and amortization expense		1,314,600			213,256		673,165			2,201,021
Stock compensation		386,101			45,073		991,763			1,422,937
Long-lived assets		27,510,779			3,224,955		1,154,969			31,890,703

Long-lived assets include Property, plant and equipment, Goodwill and Intangible assets.

Geographic Information

Revenues by geographic location are included in Note 2.