Business Segment Information

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Business Segment Information

Business Segment InformationThe 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 June 30, 2023
Revenues	$	45,422,151	$	80,064,609	$	—	$	125,486,760
Income (loss) from operations	(537,625)		18,217,665		(16,104,086)		1,575,954
Total assets	121,884,046		142,049,757		126,352,242		390,286,045
Depreciation and amortization expense	1,940,635		1,201,771		688,655		3,831,061
Stock compensation	215,912		182,889		2,952,321		3,351,122
Long-lived assets	66,188,807		48,454,044		11,418,092		126,060,943
Capital expenditures	3,268,147		806,681		720,659		4,795,487
Three Months Ended June 30, 2022
Revenues	$	22,175,233	$	87,344,071	$	—	$	109,519,304
Income (loss) from operations	(5,398,799)		30,234,461		(17,377,905)		7,457,757
Total assets	67,477,663		55,936,426		208,441,299		331,855,388
Depreciation and amortization expense	1,124,521		217,389		695,861		2,037,771
Stock compensation	506,775		223,893		1,268,951		1,999,619
Long-lived assets	36,437,097		4,232,044		2,691,150		43,360,291
Capital expenditures	1,157,537		23,513,762		542,628		25,213,927

	Transportation Services		Mobile Health Services		Corporate		Total
Six Months Ended June 30, 2023
Revenues	$	85,478,096	$	153,011,367	$	—	$	238,489,463
Income (loss) from operations	433,522		31,159,245		(36,919,400)		(5,326,633)
Total assets	121,884,046		142,049,757		126,352,242		390,286,045
Depreciation and amortization expense	3,803,939		1,918,310		1,758,141.00		7,480,390
Stock compensation	475,605		299,822		11,025,711		11,801,138
Long-lived assets	66,188,807		48,454,044		11,418,092		126,060,943
Capital Expenditures	13,632,633		26,539,244		2,467,347		42,639,224
Six Months Ended June 30, 2022
Revenues	$	49,987,743	$	177,423,113	$	—	$	227,410,856
Income (loss) from operations	(7,879,188)		53,578,388		(28,146,878)		17,552,322
Total assets	67,477,663		55,936,426		208,441,299		331,855,388
Depreciation and amortization expense	2,439,121		430,645		1,369,026		4,238,792
Stock compensation	892,876		268,966		2,260,714		3,422,556
Long-lived assets	36,437,097		4,232,044		2,691,150		43,360,291
Capital Expenditures	2,100,320		23,605,840		1,220,515		26,926,675

Long-lived assets include property and equipment, goodwill, intangible assets, operating lease right-of-use assets and finance lease right-of-use assets.

Geographic Information

The table below shows long-lived assets by geographic location.

	June 30, 2023	June 30, 2022
Primary Geographical Markets
United States	106,605,989	41,246,102
United Kingdom	19,454,954	2,114,189
Total Long-Lived Assets	126,060,943	43,360,291

Revenues by geographic location are included in Note 2.