Business Segment Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

The Company’s reportable segments are organized based on service platforms, with the Patient Services segment reflecting higher margin rental revenues that generally include payments made by third-party and direct payers and the Device Solutions segment reflecting lower margin product sales, direct payer rental and service revenues. Resources are allocated and performance is assessed for these segments by the Company’s Chief Executive Officer, whom the Company has determined to be its chief operating decision-maker. The Company believes that reporting performance at the gross profit level is the best indicator of segment performance.

The financial information summarized below is presented by reportable segment for the three months ended September 30, 2024 and 2023:

2024
(in thousands)	Patient Services		Device Solutions		Corporate/ Eliminations		Total
Net revenues - external	$	20,780	$	14,540	$	—	$	35,320
Net revenues - internal	—		1,992		(1,992)		—
Total net revenues	20,780		16,532		(1,992)		35,320
Gross profit	13,710		5,335		—		19,045
Selling, general and administrative expenses							15,780
Interest expense							(476)
Other expense							(4)
Income before income taxes							$	2,785
Total assets	$	54,821	$	48,482	$	2,000	$	105,303
Purchases of medical equipment	$	524	$	2,842	$	—	$	3,366
Depreciation and amortization of intangible assets	$	2,037	$	1,108	$	—	$	3,145

2023
(in thousands)	Patient Services		Device Solutions		Corporate/ Eliminations		Total
Net revenues - external	$	19,289	$	12,620	$	—	$	31,909
Net revenues - internal	—		1,598		(1,598)		—
Total net revenues	19,289		14,218		(1,598)		31,909
Gross profit	11,837		3,779		—		15,616
Selling, general and administrative expenses							13,919
Interest expense							(563)
Other expense							(14)
Income before income taxes							$	1,120
Total assets	$	57,838	$	42,233	$	2,000	$	102,071
Purchases of medical equipment	$	650	$	859	$	—	$	1,509
Depreciation and amortization of intangible assets	$	2,038	$	1,030	$	—	$	3,068

The financial information summarized below is presented by reportable segment for the nine months ended September 30, 2024 and 2023:

2024
(in thousands)	Patient Services		Device Solutions		Corporate/ Eliminations		Total
Net revenues - external	$	59,617	$	41,396	$	—	$	101,013
Net revenues - internal	—		5,447		(5,447)		—
Total net revenues	59,617		46,843		(5,447)		101,013
Gross profit	39,428		12,759		—		52,187
Selling, general and administrative expenses							47,912
Interest expense							(1,416)
Other expense							(64)
Income before income taxes							$	2,795
Total assets	$	54,821	$	48,482	$	2,000	$	105,303
Purchases of medical equipment	$	4,339	$	7,823	$	—	$	12,162
Depreciation and amortization of intangible assets	$	5,852	$	3,226	$	—	$	9,078

2023
(in thousands)	Patient Services		Device Solutions		Corporate/ Eliminations		Total
Net revenues - external	$	57,382	$	36,632	$	—	$	94,014
Net revenues - internal	—		4,909		(4,909)		—
Total net revenues	57,382		41,541		(4,909)		94,014
Gross profit	35,223		11,175		—		46,398
Selling, general and administrative expenses							43,560
Interest expense							(1,667)
Other expense							(47)
Income before income taxes							$	1,124
Total assets	$	57,838	$	42,233	$	2,000	$	102,071
Purchases of medical equipment	$	4,862	$	3,641	$	—	$	8,503
Depreciation and amortization of intangible assets	$	6,294	$	3,070	$	—	$	9,364