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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Total revenues $ 35,403,800 $ 21,261,308 $ 56,626,710 $ 32,631,645
Cost of revenues        
Total cost of revenues 25,331,163 12,925,488 40,121,022 19,515,026
Gross profit 10,072,637 8,335,820 16,505,688 13,116,619
Operating expenses        
Compensation, taxes and benefits 4,553,029 3,494,692 8,187,325 6,049,728
General and administrative 3,265,160 1,776,981 6,205,254 3,417,873
Total operating expenses 7,818,189 5,271,673 14,392,579 9,467,601
Income from operations 2,254,448 3,064,147 2,113,109 3,649,018
Other income (expense)        
Other income 42,313   92,141 47,982
Forgiveness of Paycheck Protection Program loan   287,143   287,143
Loss on redemption of non-participating preferred units       (590,689)
Contingent loss on early termination of line of credit     (299,770)  
Interest expense (1,027,493) (650,251) (2,044,794) (1,364,038)
Total other expense (985,180) (363,108) (2,252,423) (1,619,602)
Income (loss) before taxes 1,269,268 2,701,039 (139,314) 2,029,416
Tax expense (benefit) 74,312 86,676 (336) 86,676
Net income (loss) $ 1,194,956 $ 2,614,363 $ (138,978) $ 1,942,740
Net income (loss) per common share:        
Basic (in dollars per share) $ 0.08 $ 0.18 $ (0.01) $ 0.18
Diluted (in dollars per share) $ 0.08 $ 0.18 $ (0.01) $ 0.18
Weighted-average number of shares of common stock outstanding:        
Basic (in shares) 14,772,624 14,257,827 14,676,096 10,701,715
Diluted (in shares) 14,834,051 14,257,827 14,676,096 10,701,715
Buy-side advertising        
Revenues        
Total revenues $ 11,803,092 $ 9,321,267 $ 19,242,758 $ 15,152,308
Cost of revenues        
Total cost of revenues 4,587,897 3,154,471 7,537,050 5,223,817
Sell-side advertising        
Revenues        
Total revenues 23,600,708 11,940,041 37,383,952 17,479,337
Cost of revenues        
Total cost of revenues $ 20,743,266 $ 9,771,017 $ 32,583,972 $ 14,291,209