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SEGMENT DATA | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENT DATA | NOTE 13 – SEGMENT DATA Our portfolio of brands are included within two operating segments: Telehealth and WorkSimpli. Our CODM, is our Chief Executive Officer. The CODM uses segment operating income or loss to determine segment profitability in order to assess performance and allocate resources for the Company’s operating segments based on monitoring of budgeted versus actual results. Relevant segment data as of December 31, 2024 and December 31, 2023 is as follows: SCHEDULE OF RELEVANT SEGMENT DATA
|  | Telehealth |  |  | WorkSimpli |  |  | Consolidated |
|  | Year Ended December 31, 2024 |
|  | Telehealth |  |  | WorkSimpli |  |  | Consolidated |
Revenue, net |  | $ | 158,438,631 |  |  | $ | 54,015,207 |  |  | $ | 212,453,838 |
Cost of revenue |  |  | 21,440,799 |  |  |  | 2,627,680 |  |  |  | 24,068,479 |
Gross profit |  |  | 136,997,832 |  |  |  | 51,387,527 |  |  |  | 188,385,359 |
Significant Segment Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing expenses |  |  | 70,102,961 |  |  |  | 32,917,064 |  |  |  | 103,020,025 |
Payroll expenses |  |  | 30,486,701 |  |  |  | 3,015,136 |  |  |  | 33,501,837 |
Merchant processing fees |  |  | 7,188,539 |  |  |  | 3,245,429 |  |  |  | 10,433,968 |
Other general and administrative expenses |  |  | 27,582,905 |  |  |  | 8,264,986 |  |  |  | 35,847,891 |
Other segment items(1) |  |  | 18,424,159 |  |  |  | 3,302,160 |  |  |  | 21,726,319 |
Segment operating (loss) income |  | $ | (16,787,433 | ) |  | $ | 642,752 |  |  | $ | (16,144,681 | )
Interest expense, net |  |  | (2,175,405 | ) |  |  | (6,412 | ) |  |  | (2,181,817 | )
Loss on debt extinguishment |  |  | (325,198 | ) |  |  | - |  |  |  | (325,198 | )
(Loss) income from operations before income taxes |  | $ | (18,962,838 | ) |  | $ | 636,340 |  |  | $ | (18,326,498 | )
|  | Telehealth |  |  | WorkSimpli |  |  | Consolidated |
|  | Year Ended December 31, 2023 |
|  | Telehealth |  |  | WorkSimpli |  |  | Consolidated |
Revenue, net |  | $ | 98,152,919 |  |  | $ | 54,394,087 |  |  | $ | 152,547,006 |
Cost of revenue |  |  | 17,480,533 |  |  |  | 1,419,931 |  |  |  | 18,900,464 |
Gross profit |  |  | 80,672,386 |  |  |  | 52,974,156 |  |  |  | 133,646,542 |
Significant Segment Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing expenses |  |  | 48,589,567 |  |  |  | 27,861,899 |  |  |  | 76,451,466 |
Payroll expenses |  |  | 19,370,268 |  |  |  | 1,986,775 |  |  |  | 21,357,043 |
Merchant processing fees |  |  | 3,054,336 |  |  |  | 3,551,247 |  |  |  | 6,605,583 |
Other general and administrative expenses |  |  | 18,140,721 |  |  |  | 6,491,433 |  |  |  | 24,632,154 |
Other segment items(1) |  |  | 16,778,515 |  |  |  | 2,311,054 |  |  |  | 19,089,569 |
Segment operating (loss) income |  | $ | (25,261,021 | ) |  | $ | 10,771,748 |  |  | $ | (14,489,273 | )
Interest expense, net |  |  | (2,591,416 | ) |  |  | (5,170 | ) |  |  | (2,596,586 | )
Loss on debt extinguishment |  |  | (325,198 | ) |  |  | - |  |  |  | (325,198 | )
(Loss) income from operations before income taxes |  | $ | (28,177,635 | ) |  | $ | 10,766,578 |  |  | $ | (17,411,057 | )
(1) | Other segment items include stock-based compensation and depreciation and amortization. Stock-based compensation expense for our Telehealth segment was $12.2 million and $12.5 million for the years ended December 31, 2024 and 2023, respectively. Depreciation and amortization for our Telehealth segment was $6.2 million and $4.3 million for the years ended December 31, 2024 and 2023, respectively, and for our WorkSimpli segment was $3.3 million and $2.3 million, respectively.
|  | 2024 |  |  | 2023 |
|  | December 31, |
Total Assets |  | 2024 |  |  | 2023 |
Telehealth |  | $ | 62,340,390 |  |  | $ | 48,126,006 |
WorkSimpli |  |  | 10,119,636 |  |  |  | 10,354,703 |
Consolidated |  | $ | 72,460,026 |  |  | $ | 58,480,709 |
Total Assets |  | $ | 72,460,026 |  |  | $ | 58,480,709 |
Total expenditures for purchases of capitalized software, equipment, and intangible assets, which are reported on the Company’s consolidated statements of cash flows totaled $8.2 million and $5.4 million for our Telehealth segment during the years ended December 31, 2024 and 2023, respectively, and $3.3 million and $3.3 million for our WorkSimpli segment during the years ended December 31, 2024 and 2023, respectively. International net revenues totaled $14.9 million and $14.0 million for the years ended December 31, 2024 and 2023, respectively, and relate to our WorkSimpli segment.

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- Definition The entire disclosure for reporting segments including data and tables. 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