Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

v3.20.2
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Schedule of Revenues, Operating Expenses and Operating Income (Loss) by Reportable Segment

The following tables present revenues, operating expenses and operating (loss) income by reportable segment:

 

    Six Months Ended June 30, 2020  
    Healthcare IT     Practice Management     Unallocated Corporate Expenses     Total  
Net revenue   $ 35,967,075     $ 5,478,883     $ -     $ 41,445,958  
Operating expenses:                                
Direct operating costs     21,926,644       4,196,760       -       26,123,404  
Selling and marketing     3,189,461       16,937       -       3,206,398  
General and administrative     6,894,125       1,024,695       3,066,762       10,985,582  
Research and development     4,479,451       -       -       4,479,451  
Depreciation and amortization     3,578,708       158,993       -       3,737,701  
Impairment and unoccupied lease charges     360,826       -       -       360,826  
Total operating expenses     40,429,215       5,397,385       3,066,762       48,893,362  
Operating (loss) income   $ (4,462,140 )   $ 81,498     $ (3,066,762 )   $ (7,447,404 )

 

    Three Months Ended June 30, 2020  
    Healthcare IT     Practice Management    

Unallocated Corporate

Expenses

     Total  
Net revenue   $ 17,126,211     $ 2,452,579     $ -     $ 19,578,790  
Operating expenses:                                
Direct operating costs     10,760,718       1,795,956       -       12,556,674  
Selling and marketing     1,616,689       8,356       -       1,625,045  
General and administrative     3,013,903       468,187       1,910,767       5,392,857  
Research and development     2,146,325       -       -       2,146,325  
Depreciation and amortization     2,325,418       79,497       -       2,404,915  
Impairment and unoccupied lease charges     63,175       -       -       63,175  
Total operating expenses     19,926,228       2,351,996       1,910,767       24,188,991  
Operating (loss) income   $ (2,800,017 )   $ 100,583     $ (1,910,767 )   $ (4,610,201 )

 

    Six Months Ended June 30, 2019  
    Healthcare IT     Practice Management     Unallocated Corporate Expenses     Total  
Net revenue   $ 25,580,319     $ 6,249,391     $ -     $ 31,829,710  
Operating expenses:                                
Direct operating costs     16,403,912       4,840,023       -       21,243,935  
Selling and marketing     726,147       17,809       -       743,956  
General and administrative     5,757,549       955,760       2,592,521       9,305,830  
Research and development     473,064       -       -       473,064  
Change in contingent consideration     (64,203 )     -       -       (64,203 )
Depreciation and amortization     1,435,071       157,830       -       1,592,901  
Total operating expenses     24,731,540       5,971,422       2,592,521       33,295,483  
Operating income (loss)   $ 848,779     $ 277,969     $ (2,592,521 )   $ (1,465,773 )

 

    Three Months Ended June 30, 2019  
    Healthcare IT     Practice Management     Unallocated Corporate Expenses     Total  
Net revenue   $ 13,460,575     $ 3,288,924     $ -     $ 16,749,499  
Operating expenses:                                
Direct operating costs     8,929,458       2,466,937       -       11,396,395  
Selling and marketing     374,196       8,361       -       382,557  
General and administrative     3,295,146       559,390       1,289,218       5,143,754  
Research and development     218,408       -       -       218,408  
Depreciation and amortization     757,084       79,077       -       836,161  
Total operating expenses     13,574,292       3,113,765       1,289,218       17,977,275  
Operating (loss) income   $ (113,717 )   $ 175,159     $ (1,289,218 )   $ (1,227,776 )