v3.25.1
Segments
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Segment Reporting [Abstract]    
Segments
8. Segments
General Information
The Company’s single operating segment derives its revenues primarily through sales of pharmaceutical and medical products, and all revenues are derived solely in the United States.
Measure of segment profit or loss and assets
The chief operating decision maker (“CODM”) assesses performance of the operating segment and decides how to allocate resources based on net income, which also is reported on the consolidated statements of operations as net income. In addition to comparing net income against forecasted net income, the CODM uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the operating segment or expansion of the operating segment through acquisitions.
The measure of operating segment assets is reported on the Consolidated Balance Sheets as total assets.
The accounting policies of the operating segment are the same as those of the Company.
 
Reportable segment reconciliation
The following reconciliation presents operating segment revenue, net income, and significant segment expenses:
 
 
  
Three Months Ended

March 31,
 
 
  
2024
 
  
2025
 
Revenue
    $ 275,410      $ 329,308  
Less:
      
Employee expenses (excluding share-based compensation expense)
      61,584        72,380  
Share-based compensation expense
      5,945        3,968  
Other segment items
(1)
      195,270        234,417  
Depreciation and amortization
      4,751        5,267  
Interest expense
      765        170  
Income taxes
      —         3,833  
  
 
 
     
 
 
  
Segment net income
    $ 7,095      $ 9,273  
  
 
 
     
 
 
  
Reconciliation of net income to consolidated statements of operations
      
Adjustments and reconciling items
      —         —   
  
 
 
     
 
 
  
Consolidated net income
    $ 7,095      $ 9,273  
  
 
 
     
 
 
  
 
(1)
Other segment items included in operating segment net income include product expenses, legal expenses, rent and auto lease expenses,
utilities
expenses, maintenance expenses, and other overhead expenses.
12.  Segments
General Information
As described in Note 2 —
Summary of Significant Accounting Policies —
in 2023 the Company modified its internal management reporting including the information regularly provided to and used by the chief operating decision maker (“CODM”) to assess performance and allocate resources. As a result, the Company
re-evaluated
its operating segment conclusions and determined it has a single operating segment. This determination was primarily based on the CODM, which is our Chief Executive Officer, assessing performance and allocating resources on a consolidated basis.
The operating segment derives its revenues primarily through sales of pharmaceutical and medical products, and all revenues are derived solely in the United States.
Measure of segment profit or loss and assets
The CODM assesses performance of the operating segment and decides how to allocate resources based on net income (loss), which also is reported on the consolidated statements of operations as net income (loss). In addition to comparing net income (loss) against forecasted net income (loss), the CODM uses net income (loss) to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the operating segment or expansion of the operating segment through acquisitions.
The measure of operating segment assets is reported on the Consolidated Balance Sheets as total assets.
The accounting policies of the operating segment are the same as those described in the summary of significant accounting policies in Note 2.
 
 
Reportable segment reconciliation
The following reconciliation presents operating segment revenue, net income (loss), and significant segment expenses:
 
    
Operating Segment
  
    
2023
     
2024
  
Revenue
    $ 1,046,193      $ 1,228,409  
Less:
      
Employee expenses (excluding share-based compensation expense)
      234,730        268,621  
Share-based compensation expense (income)
      (6,090 )       131,490  
Other segment items(1)
      758,740        871,725  
Depreciation and amortization
      18,234        19,772  
Interest expense
      2,859        3,278  
Income taxes
      —        4,556  
  
 
 
     
 
 
  
Segment net income (loss)
    $ 37,720      $ (71,033 ) 
  
 
 
     
 
 
  
Reconciliation of net income (loss) to consolidated statements of operations
      
Adjustments and reconciling items
      —        —  
  
 
 
     
 
 
  
Consolidated net income (loss)
    $ 37,720      $ (71,033 ) 
  
 
 
     
 
 
  
 
(1)
Other segment items included in operating segment net income include product expenses, legal expenses, rent and auto lease expenses, utilities expenses, maintenance expenses, and other overhead expenses.