Segment Information

6 Months Ended

12 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company operates its business and reports its results through three operating and reportable segments: dispensary, patient services, and clinical trials & other in accordance with ASC 280. See Note 2 for a summary of the Company’s policy on segment information.

Summarized financial information for the Company’s segments is shown in the following tables:

(in thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Revenue
Patient services	$	39,109	$	29,786	$	74,166	$	59,408
Dispensary	20,218		17,782		38,897		35,400
Clinical trials & other	1,594		2,276		3,019		3,616
Consolidated revenue	60,921		49,844		116,082		98,424
Direct costs
Patient services	32,875		23,574		60,253		46,660
Dispensary	16,754		15,237		32,078		30,360
Clinical trials & other	150		143		287		312
Total segment direct costs	49,779		38,954		92,618		77,332
Depreciation expense
Patient services	282		139		532		266
Dispensary	—		—		—		—
Clinical trials & other	1		2		3		3
Total segment depreciation expense	283		141		535		269
Amortization of intangible assets
Patient services	686		568		1,307		1,128
Dispensary	—		—		—		—
Clinical trials & other	52		52		105		105
Total segment amortization	738		620		1,412		1,233
Operating income
Patient services	5,266		5,505		12,074		11,354
Dispensary	3,464		2,545		6,819		5,040
Clinical trials & other	1,391		2,079		2,624		3,196
Total segment operating income	10,121		10,129		21,517		19,590
Selling, general and administrative expense	28,348		11,212		58,154		22,390

(in thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Non-segment depreciation and amortization	77		33		138		69
Total consolidated operating loss	$	(18,304)	$	(1,116)	$	(36,775)	$	(2,869)

(in thousands)	June 30, 2022		December 31, 2021
Assets
Patient services	$	54,157	$	44,223
Dispensary	6,542		4,277
Clinical trials & other	12,481		14,504
Non-segment assets	116,560		140,435
Total assets	$	189,740	$	203,439

Segment Information

The Company operates its business and reports its results through three operating and reportable segments: dispensary, patient services, and clinical trials & other. in accordance with ASC 280. See Note 2 for a summary of the Company’s policy on segment information.

A brief description of each of the Company’s segments is as follows:

Patient Services

The Company provides oncology treatment and care to patients. As part of the patient services segment, the Company provides a variety of services including physician services, in-house infusion and pharmacy, radiology, educational seminars, support groups, counseling, and 24/7 patient assistance.

Dispensary

The Company sells oral prescription drugs directly through its dispensary. The Company purchases these drugs from various manufacturers and fills the prescription using its specialized expertise and knowledge of each individual patient’s needs.

Clinical Trials & Other

The Company enters into contracts to perform clinical research trials. As part of the clinical trials & other segment, the Company conducts cancer clinical trials through a network of experienced cancer care specialists for a broad range of pharmaceutical and medical device companies. The “other” portion of clinical trials & other consists of miscellaneous ancillary sources of revenue and expenses such as, medical supplies, biohazardous medical waste, and management fees.

Summarized financial information for the Company’s segments is shown in the following tables:

(in thousands)	Year Ended December 31,
	2021		2020
Revenue
Patient services	$	124,074	$	116,817
Dispensary	72,550		63,890
Clinical trials & other	6,379		6,808
Consolidated revenue	203,003		187,515
Direct costs
Patient services	99,401		95,747
Dispensary	62,102		53,907
Clinical trials & other	652		982
Total segment direct costs	162,155		150,636
Depreciation expense
Patient services	659		940
Dispensary	1		—
Clinical trials & other	123		7
Total segment depreciation expense	783		947
Amortization of intangible assets
Patient services	2,305		1,863
Dispensary	—		—
Clinical trials & other	211		213
Total segment amortization	2,516		2,076
Operating income
Patient services	21,709		18,267
Dispensary	10,447		9,983
Clinical trials & other	5,393		5,606
Total segment operating income	37,549		33,856
Selling, general and administrative expense	83,365		41,898
Non-segment depreciation and amortization	42		155
Total consolidated operating loss	$	(45,858)	$	(8,197)

(in thousands)	December 31, 2021		December 31, 2020
Assets
Patient services	$	44,223	$	36,446
Dispensary	4,277		4,319
Clinical trials & other	14,504		5,487
Non-segment assets	140,435		19,437
Total assets	$	203,439	$	65,689