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Business Segment Information
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company conducts business in three operating segments: Mobile Health Services, Transportation Services and Corporate. In accordance with ASC 280, Segment Reporting, operating segments are components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision makers, the Company’s Chief Executive Officer and Chief Financial Officer, in deciding how to allocate resources and assessing performance. Prior to 2023, the Company reported in two segments, because the Company’s entities have two main revenue streams. Beginning with the first quarter of 2023, the Company began reporting in three operating segments, adding a Corporate segment to allow for analysis of shared services and personnel that support both the Mobile Health Services and Transportation Services segments. Previously, these costs had been allocated almost entirely to the Transportation Services segment. All
of the Company’s revenues and cost of revenues continue to be reported within the Transportation Services and Mobile Health Services segments. The Corporate segment contains operating expenses such as information technology costs, certain insurance costs and the compensation costs of senior and executive leadership. The segment reporting for the prior-year period has been adjusted to conform to the new methodology, for the purposes of allowing a clearer analysis of year-over-year performance. The Company’s Chief Executive Officer and Chief Financial Officer evaluate the Company’s financial information and resources and assess the performance of these resources by revenue stream and by operating income or loss performance.

The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its Mobile Health Services, Transportation Services and Corporate segments based primarily on results of operations.
Operating results for the business segments of the Company are as follows:
Mobile Health
Services
Transportation
Services
CorporateTotal
Three Months Ended September 30, 2024
Revenues$90,663,433 $48,021,381 $— $138,684,814 
Income (loss) from operations21,936,967 (75,242)(11,724,328)10,137,397 
Total assets400,568,190 66,844,610 26,469,739 493,882,539 
Depreciation and amortization expense1,172,458 2,114,380 890,696 4,177,534 
Stock compensation1,237,924 34,123 1,883,139 3,155,186 
Long-lived assets44,590,633 70,488,506 10,159,283 125,238,422 
Capital expenditures640,499 3,054,429 536,262 4,231,190 
Three Months Ended September 30, 2023
Revenues$139,340,467 $47,212,443 $— $186,552,910 
Income (loss) from operations21,109,619 503,687 (12,905,351)8,707,955 
Total assets225,084,373 129,796,548 64,903,221 419,784,142 
Depreciation and amortization expense1,193,187 2,333,426 809,654 4,336,267 
Stock compensation274,108 136,472 2,950,129 3,360,709 
Long-lived assets48,554,087 66,160,925 11,305,286 126,020,298 
Capital expenditures1,692,902 3,016,381 783,422 5,492,705 
Mobile Health
Services
Transportation
Services
CorporateTotal
Nine Months Ended September 30, 2024
Revenues$351,346,919 $144,375,140 $— $495,722,059 
Income (loss) from operations80,173,235 (1,153,908)(42,857,414)36,161,913 
Total assets400,568,190 66,844,610 26,469,739 493,882,539 
Depreciation and amortization expense3,556,537        6,256,783 2,748,653 12,561,973 
Stock compensation4,473,099 228,196 5,054,160 9,755,455 
Long-lived assets44,590,633 70,488,506 10,159,283 125,238,422 
Capital expenditures897,284 10,085,457 2,202,787 13,185,528 
Nine Months Ended September 30, 2023
Revenues$292,351,835 $132,690,538 $— $425,042,373 
Income (loss) from operations52,081,169 853,164 (49,553,011)3,381,322 
Total assets225,084,373 129,796,548 64,903,221 419,784,142 
Depreciation and amortization expense3,111,497 6,137,364 2,567,796 11,816,657 
Stock compensation573,930 612,077 13,975,840 15,161,847 
Long-lived assets48,554,087 66,160,925 11,305,286 126,020,298 
Capital expenditures28,109,057 16,460,730 3,159,172 47,728,959 
Long-lived assets include property and equipment, goodwill, intangible assets, operating lease right-of-use assets and finance lease right-of-use assets.
Geographic Information
The following table summarizes long-lived assets by geographic location as of September 30, 2024 and December 31, 2023:
September 30,
2024
December 31, 2023
Primary Geographical Markets
United States$104,965,979 $103,779,506 
United Kingdom20,272,443 19,863,289 
Total long-lived assets$125,238,422 $123,642,795 
Revenues by geographic location are included in Note 2.