Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Selected Financial Data for Reportable Segments

The Company has provided additional information regarding its reportable segments which contributes to the understanding of the Company and provides useful information.

	For the Year Ended
	December 31, 2025			December 31, 2024			December 31, 2023
	(In thousands)
Net revenue:
Physical therapy operations	$	666,589		$	574,433		$	526,548
Industrial injury prevention services		114,401			96,912			78,254
Total Company	$	780,990		$	671,345		$	604,802

Operating Costs:
Salaries and related costs:
Physical therapy operations	$	388,641		$	337,466		$	302,765
Industrial injury prevention services		73,249			61,928			50,625
Total salaries and related costs	$	461,890		$	399,394		$	353,390
Rent supplies, contract labor and other:
Physical therapy operations	$	124,226		$	105,019		$	97,873
Industrial injury prevention services		16,205			13,891			10,723
Total rent, supplies, contract labor and other	$	140,431		$	118,910		$	108,596
Depreciation and amortization:
Physical therapy operations	$	17,834		$	14,775		$	12,576
Industrial injury prevention services		3,225			3,078			2,384
Total depreciation and amortization	$	21,059		$	17,853		$	14,960
Provision for credit losses:
Physical therapy operations	$	7,562		$	6,904		$	6,129
Industrial injury prevention services		85			8			43
Total provision for credit losses	$	7,647		$	6,912		$	6,172
Clinic closure costs:
Physical therapy operations	$	270		$	4,355		$	175
Industrial injury prevention services		-			-			-
Total clinic closure costs	$	270		$	4,355		$	175
Total Company	$	631,297		$	547,424		$	483,293

Gross profit:
Physical therapy operations	$	128,056		$	105,914		$	107,030
Industrial injury prevention services		21,637			18,007			14,479
Total Company	$	149,693		$	123,921		$	121,509

Impairment of goodwill and other intangible assets
Industrial injury prevention services	$	-		$	-		$	17,495
Total impairment of goodwill and other intangible assets	$	-		$	-		$	17,495
Impairment of assets held for sale
Physical therapy operations	$	-		$	2,418		$	-
Total impairment of assets held for sale	$	-		$	2,418		$	-

Unallocated amounts
Corporate office costs	$	69,260		$	58,290		$	51,953
Interest expense, debt and other		9,459			8,015			9,303
Interest income from investments		(105	)		(3,941	)		(3,774	)
Change in fair value of contingent earn-out consideration		(6,244	)		219			1,550
Change in revaluation of put-right liability		1,322			82			(2,582	)
Equity in earnings of unconsolidated affiliate		(1,477	)		(1,014	)		(955	)
Loss on sale of partnership		123			-			-
Relief Funds		-			-			(467	)
Other		(458	)		(357	)		(390	)
Total unallocated amounts		71,880			61,294			54,638
Income before taxes	$	77,813		$	60,209		$	49,376

	December 31, 2025		December 31, 2024
Assets:
Goodwill:
Physical therapy operations	$	604,440	$	579,046
Industrial injury prevention services		87,952		88,106
Total goodwil	$	692,392	$	667,152
All other assets:
Physical therapy operations		434,804	$	415,039
Industrial injury prevention services		76,814		85,276
Total all other assets		511,618		500,315
Total Assets	$	1,204,010	$	1,167,467