XML 29 R17.htm IDEA: XBRL DOCUMENT v3.23.3
Business Segment Information
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Business Segment Information 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 began 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 Executive Officer 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
CorporateTotal
Three Months Ended September 30, 2023
Revenues$47,212,443 $139,340,467 $— $186,552,910 
Income (loss) from operations503,687 21,109,619 (12,905,351)8,707,955 
Total assets129,796,548 225,084,373 64,903,221 419,784,142 
Depreciation and amortization expense2,333,426 1,193,187 809,654 4,336,267 
Stock compensation136,472 274,108 2,950,130 3,360,710 
Long-lived assets66,160,925 48,554,087 11,305,286 126,020,298 
Capital expenditures3,016,381 1,692,902 783,422 5,492,705 
Three Months Ended September 30, 2022
Revenues$27,670,109 $76,649,785 $— $104,319,894 
Income (loss) from operations(3,858,715)17,962,484 (9,904,579)4,199,190 
Total assets102,061,123 84,096,109 169,762,978 355,920,210 
Depreciation and amortization expense1,688,219 550,034 776,611 3,014,864 
Stock compensation152,163 80,351 878,689 1,111,203 
Long-lived assets66,116,505 21,431,704 2,817,517 90,365,726 
Capital expenditures4,839,972 11,504,148 1,009,414 17,353,534 
Transportation
Services
Mobile Health
Services
CorporateTotal
Nine Months Ended September 30, 2023
Revenues$132,690,538 $292,351,835 $— $425,042,373 
Income (loss) from operations853,164 52,081,169 (49,553,011)3,381,322 
Total assets129,796,548 225,084,373 64,903,221 419,784,142 
Depreciation and amortization expense6,137,364 3,111,497 2,567,796 11,816,657 
Stock compensation612,077 573,930 13,975,840 15,161,847 
Long-lived assets66,160,925 48,554,087 11,305,286 126,020,298 
Capital expenditures16,460,730 28,109,057 3,159,172 47,728,959 
Nine Months Ended September 30, 2022
Revenues$77,657,852 $254,072,898 $— $331,730,750 
Income (loss) from operations(11,737,903)71,540,872 (38,051,457)21,751,512 
Total assets102,061,123 84,096,109 169,762,978 355,920,210 
Depreciation and amortization expense4,127,322 980,677 2,145,657 7,253,656 
Stock compensation827,946 486,231 3,219,582 4,533,759 
Long-lived assets66,116,505 21,431,704 2,817,517 90,365,726 
Capital expenditures3,317,127 10,884,649 5,908,513 20,110,289 
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.
September 30,
2023
September 30,
2022
Primary Geographical Markets
United States107,033,650 87,161,204 
United Kingdom18,986,648 3,204,522 
Total Long-Lived Assets126,020,298 90,365,726 
Revenues by geographic location are included in Note 2.