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OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2025

OPERATING SEGMENTS

Schedule of income statements by operating segment

The following tables present the Company’s income statements by operating segment (in thousands):


	Three Months Ended June 30, 2025									Six Months Ended June 30, 2025
	USA Operations			Canada Operations			Consolidated			USA Operations			Canada Operations			Consolidated
Operating revenues
Fee revenue	$	8,404		$	331		$	8,735		$	11,130		$	12,864		$	23,994
Reimbursable revenue		1,116			—			1,116			1,686			249			1,935
		9,520			331			9,851			12,816			13,113			25,929

Operating costs:
Fee operating expenses		6,742			859			7,601			11,357			7,204			18,561
Reimbursable operating expenses		1,116			—			1,116			1,686			249			1,935
Operating expenses		7,858			859			8,717			13,043			7,453			20,496
General and administrative		1,998			333			2,331			3,553			772			4,325
Depreciation and amortization		981			193			1,174			2,058			387			2,445
		10,837			1,385			12,222			18,654			8,612			27,266

(Loss) income from operations		(1,317)			(1,054)			(2,371)			(5,838)			4,501			(1,337)

Other income (expense):
Interest income		26			9			35			26			13			39
Interest expense		(46)			(12)			(58)			(109)			(25)			(134)
Other income (expense), net		33			5			38			74			(3)			71
(Loss) income before income tax		(1,304)			(1,052)			(2,356)			(5,847)			4,486			(1,361)
Current		7			—			7			4			—			4
Deferred		—			—			—			—			—			—
Income tax benefit		7			—			7			4			—			4
Net (loss) income	$	(1,297)		$	(1,052)		$	(2,349)		$	(5,843)		$	4,486		$	(1,357)

EBITDA	$	(303)		$	(856)		$	(1,159)		$	(3,706)		$	4,885		$	1,179


	Three Months Ended June 30, 2024									Six Months Ended June 30, 2024
	USA Operations			Canada Operations			Consolidated			USA Operations			Canada Operations			Consolidated
Operating revenues
Fee revenue	$	8,321		$	5		$	8,326		$	26,608		$	8,456		$	35,064
Reimbursable revenue		4,186			—			4,186			8,995			37			9,032
		12,507			5			12,512			35,603			8,493			44,096

Operating costs:
Fee operating expenses		7,648			557			8,205			20,541			4,778			25,319
Reimbursable operating expenses		4,186			—			4,186			8,995			37			9,032
Operating expenses		11,834			557			12,391			29,536			4,815			34,351
General and administrative		2,181			303			2,484			4,011			706			4,717
Depreciation and amortization		1,162			244			1,406			2,467			528			2,995
		15,177			1,104			16,281			36,014			6,049			42,063

(loss) income from operations		(2,670)			(1,099)			(3,769)			(411)			2,444			2,033

Other income (expense):
Interest income		89			16			105			188			30			218
Interest expense		(29)			(10)			(39)			(65)			(20)			(85)
Other income (expense), net		45			(19)			26			230			(25)			205
(Loss) income before income tax		(2,565)			(1,112)			(3,677)			(58)			2,429			2,371
Current		131			—			131			(71)			—			(71)
Deferred		—			—			—			—			—			—
Income tax benefit (expense)		131			—			131			(71)			—			(71)
Net (loss) income	$	(2,434)		$	(1,112)		$	(3,546)		$	(129)		$	2,429		$	2,300

EBITDA	$	(1,463)		$	(874)		$	(2,337)		$	2,286		$	2,947		$	5,233

Schedule of total assets disaggregated by operating segment

The following tables present the Company’s total assets, net property and equipment, capital expenditures and right of use assets disaggregated by operating segment (in thousands):


		June 30,			December 31,
		2025			2024
Total Assets
United States		$	38,949		$	21,257
Canada			6,735			9,613
Total Assets		$	45,684		$	30,870

Schedule of net property and equipment, capital expenditures and right-of-use assets by operating segment

The following tables present the Company’s total assets, net property and equipment, capital expenditures and right of use assets disaggregated by operating segment (in thousands):



		June 30,			December 31,
		2025			2024
Net Property and Equipment
United States		$	9,443		$	10,818
Canada			1,887			2,161
Total		$	11,330		$	12,979


		June 30,			June 30,
		2025			2024
Capital Expenditures
United States		$	683		$	906
Canada			—			863
Total Capital Expenditures		$	683		$	1,769


		June 30,			December 31,
		2025			2024
Net Right-of-use Assets
United States		$	1,489		$	1,881
Canada			1,070			1,121
Total		$	2,559		$	3,002

Schedule of reconciliation of the Company's EBITDA to net (loss) income

The reconciliation of the Company’s EBITDA to net (loss) income which are the most directly comparable GAAP financial measures, are provided in the following tables (in thousands):


	Three Months Ended June 30,
	2025 US			2025 CA			2025 Consol.			2024 US			2024 CA			2024 Consol.
Net loss	$	(1,297)		$	(1,052)		$	(2,349)		$	(2,434)		$	(1,112)		$	(3,546)
Depreciation and amortization		981			193			1,174			1,162			244			1,406
Interest expense (income), net		20			3			23			(60)			(6)			(66)
Income tax benefit		(7)			—			(7)			(131)			—			(131)
EBITDA	$	(303)		$	(856)		$	(1,159)		$	(1,463)		$	(874)		$	(2,337)


	Six Months Ended June 30,
	2025 US			2025 CA			2025 Consol.			2024 US			2024 CA			2024 Consol.
Net (loss) income	$	(5,843)		$	4,486		$	(1,357)		$	(129)		$	2,429		$	2,300
Depreciation and amortization		2,058			387			2,445			2,467			528			2,995
Interest income, net		83			12			95			(123)			(10)			(133)
Income tax (benefit) expense		(4)			—			(4)			71			—			71
EBITDA	$	(3,706)		$	4,885		$	1,179		$	2,286		$	2,947		$	5,233