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Note 20 - Reportable Segments
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 20.  Reportable Segments

 

The Company has two reportable segments: (i) e-Commerce Operations, which involves acquiring and leasing, primarily an e-commerce platform to collaborate with businesses to optimize their ability to sell their goods online, domestically, and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue, and other related businesses and (ii) Healthcare Operations, which provides TPA, data management, COVID-19 related diagnostics and vaccinations, prescription pharmaceuticals, compounded medications, telepharmacy services, anti-retroviral medications, medication therapy management, the supply of prescription medications to long-term care facilities, medication adherence packaging, contracted pharmacy services for 340B covered entities under the 340B Drug Discount Pricing Program, and health practice risk management. 

 

The Company evaluates the performance of each of the segments based on profit or loss after general and administrative expenses. While the Company believes there are synergies between the two business segments, the segments are managed separately because each requires different business strategies.

 

The following tables present a summary of the reportable segments (in thousands):

 

For the Three Months Ended June 30, 2024

 

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Pharmacy prescription and other revenue, net of PBM fees

 $-  $10,521  $-  $10,521 

e-Commerce revenue

  3,512   -   -   3,512 

Pharmacy 340B contract revenue

  -   2,956   -   2,956 

Revenues, net

 $3,512  $13,477  $-  $16,989 
                 

Expenses:

                

Cost of revenue

  2,401   8,782   -   11,183 

Selling, general and administrative

  1,382   895   (60)  2,217 

Salaries, wages and payroll taxes

  619   2,166   -   2,785 

Impairment loss

  -   9,792   -   9,792 

Professional fees

  620   384   -   1,004 

Depreciation and amortization

  146   757   -   903 
   5,168   22,776   (60)  27,884 

Loss before other (income) expense

  (1,656)  (9,299)  60   (10,895)

Other income

  (210)  (23)  (60)  (173)

Loss before income taxes

  (1,446)  (9,276)  -   (10,722)

Income taxes

  (20)  -   -   (20)

Net loss

 $(1,466) $(9,276) $-  $(10,742)

   

For the Three Months Ended June 30, 2023

 

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Pharmacy prescription and other revenue, net of PBM fees

 $-  $-  $-  $- 

e-Commerce revenue

  2,957   -   -   2,957 

Pharmacy 340B contract revenue

  -   -   -   - 

Revenues, net

 $2,957  $-  $-  $2,957 
                 

Expenses:

                

Cost of revenue

  2,113   -   -   2,113 

Selling, general and administrative

  2,519   -   -   2,519 

Salaries, wages and payroll taxes

  968   -   -   968 

Professional fees

  544   -   -   544 

Depreciation and amortization

  168   -   -   168 
   6,312   -   -   6,312 

Loss before other (income) expense

  (3,355)  -   -   (3,355)

Other income

  (473)  -   -   (473)

Loss before income taxes

  (2,882)  -   -   (2,882)

Income taxes

  (52)  -   -   (52)

Loss before equity method investment

  (2,934)  -   -   (2,934)

Equity in net loss of affiliate

  (1,407)  -   -   (1,407)

Net loss

 $(4,341) $-  $-  $(4,341)

 

 

 

For the Six Months Ended June 30, 2024

 

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Pharmacy prescription and other revenue, net of PBM fees

 $-  $21,773  $-  $21,773 

e-Commerce revenue

  6,377   -   -   6,377 

Pharmacy 340B contract revenue

  -   6,332   -   6,332 

Revenues, net

 $6,377  $28,105  $-  $34,482 
                 

Expenses:

                

Cost of revenue

  4,462   19,405   -   23,867 

Selling, general and administrative

  2,545   1,795   (120)  4,220 

Salaries, wages and payroll taxes

  1,127   4,282   -   5,409 

Impairment loss

  -   9,924   -   9,924 

Professional fees

  1,127   862   -   1,989 

Depreciation and amortization

  277   1,533   -   1,810 
   9,538   37,801   (120)  47,219 

Loss before other (income) expense

  (3,161)  (9,696)  120   (12,737)

Other income

  (413)  (48)  (120)  (341)

Loss before income taxes

  (2,748)  (9,648)  -   (12,396)

Income taxes

  (47)  -   -   (47)

Net (loss) income

 $(2,795) $(9,648) $-  $(12,443)

 

 

For the Six Months Ended June 30, 2023

 

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Pharmacy prescription and other revenue, net of PBM fees

 $-  $-  $-  $- 

e-Commerce revenue

  5,834   -   -   5,834 

Pharmacy 340B contract revenue

  -   -   -   - 

Revenues, net

 $5,834  $-  $-  $5,834 
                 

Expenses:

                

Cost of revenue

  4,369   -   -   4,369 

Selling, general and administrative

  3,308   -   -   3,308 

Salaries, wages and payroll taxes

  1,556   -   -   1,556 

Professional fees

  865   -   -   865 

Depreciation and amortization

  330   -   -   330 
   10,428   -   -   10,428 

Loss before other (income) expense

  (4,594)  -   -   (4,594)

Other income

  (558)  -   -   (558)

Loss before income taxes

  (4,036)  -   -   (4,036)

Income taxes

  (52)  -   -   (52)

Loss before equity method investment

  (4,088)  -   -   (4,088)

Equity in net loss of affiliate

  (1,440)  -   -   (1,440)

Net loss

 $(5,528) $-  $-  $(5,528)

 

  

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Total assets as of June 30, 2024

 $39,313  $28,827  $(16,679) $51,461 
             

Total assets as of December 31, 2023

 $40,764  $40,384  $(16,679) $64,469