| Schedule of Revenues, Operating Expenses and Operating Income (Loss) by Reportable Segment |
The accounting policies
of the segments are the same as those disclosed in the summary of significant accounting policies. The following tables present
revenues, operating expenses and operating income (loss) by reportable segment for the years ended December 31, 2019 and 2018:
| |
|
Year Ended December 31, 2019 |
|
| |
|
Healthcare IT |
|
|
Practice Management |
|
|
Unallocated
Corporate
Expenses
|
|
|
Total |
|
| Net revenue |
|
$ |
51,171,508 |
|
|
$ |
13,267,086 |
|
|
$ |
- |
|
|
$ |
64,438,594 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Direct operating costs |
|
|
30,798,404 |
|
|
|
10,387,620 |
|
|
|
- |
|
|
|
41,186,024 |
|
| Selling and marketing |
|
|
1,487,196 |
|
|
|
34,619 |
|
|
|
- |
|
|
|
1,521,815 |
|
| General and administrative |
|
|
11,124,271 |
|
|
|
2,066,522 |
|
|
|
4,721,004 |
|
|
|
17,911,797 |
|
| Research and development |
|
|
870,780 |
|
|
|
- |
|
|
|
- |
|
|
|
870,780 |
|
| Change in contingent consideration |
|
|
(343,768 |
) |
|
|
- |
|
|
|
- |
|
|
|
(343,768 |
) |
| Depreciation and amortization |
|
|
2,689,240 |
|
|
|
316,366 |
|
|
|
- |
|
|
|
3,005,606 |
|
| Restructuring and impairment charges |
|
|
219,013 |
|
|
|
- |
|
|
|
- |
|
|
|
219,013 |
|
| Total operating expenses |
|
|
46,845,136 |
|
|
|
12,805,127 |
|
|
|
4,721,004 |
|
|
|
64,371,267 |
|
| Operating income (loss) |
|
$ |
4,326,372 |
|
|
$ |
461,959 |
|
|
$ |
(4,721,004 |
) |
|
$ |
67,327 |
|
| |
|
Year Ended December 31, 2018 |
|
| |
|
Healthcare IT |
|
|
Practice Management |
|
|
Unallocated
Corporate
Expenses |
|
|
Total |
|
| Net revenue |
|
$ |
44,044,700 |
|
|
$ |
6,501,081 |
|
|
$ |
- |
|
|
$ |
50,545,781 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Direct operating costs |
|
|
26,289,770 |
|
|
|
4,962,765 |
|
|
|
- |
|
|
|
31,252,535 |
|
| Selling and marketing |
|
|
1,593,052 |
|
|
|
18,930 |
|
|
|
- |
|
|
|
1,611,982 |
|
| General and administrative |
|
|
9,834,749 |
|
|
|
1,164,505 |
|
|
|
5,265,219 |
|
|
|
16,264,473 |
|
| Research and development |
|
|
1,029,510 |
|
|
|
- |
|
|
|
- |
|
|
|
1,029,510 |
|
| Change in contingent consideration |
|
|
73,271 |
|
|
|
- |
|
|
|
- |
|
|
|
73,271 |
|
| Depreciation and amortization |
|
|
2,700,577 |
|
|
|
153,250 |
|
|
|
- |
|
|
|
2,853,827 |
|
| Total operating expenses |
|
|
41,520,929 |
|
|
|
6,299,450 |
|
|
|
5,265,219 |
|
|
|
53,085,598 |
|
| Operating income (loss) |
|
$ |
2,523,771 |
|
|
$ |
201,631 |
|
|
$ |
(5,265,219 |
) |
|
$ |
(2,539,817 |
) |
|