General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
 1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2021
Mar. 31, 2023
Dec. 31, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 02, 2021
Dec. 31, 2022
Dec. 31, 2021
Statement of Cash Flows [Abstract]                
Financial Designation, Predecessor and Successor [Fixed List] Successor         Predecessor Successor  
NET LOSS $ (57,938) $ (52,448)     $ (60,790) $ (146,400) $ (1,561,557)  
Adjustments to reconcile net loss to net cash used in operating activities:                
Depreciation and amortization 7,149 21,540     21,752 1,575 87,289  
Equity-based compensation 4,635 977     11,711 3,701 19,404  
Goodwill impairment 0   $ 463,500 $ 851,500     1,314,952  
Amortization of original issue discount and debt issuance costs   279       1,798    
Accretion of contingent consideration   113     91   400  
Gains on changes in fair value of warrants (2,272) (649)     5,861 7,665 (9,865)  
Premium deficiency reserve 26,277 5,140     (1,325) 11,559 (11,461)  
Changes in operating assets and liabilities:                
Health plan receivable   (21,273)     (44,337)      
Health plan receivable 3,236         (2,770) (21,841)  
Clinic fees, insurance, and other receivables 1,467 2,542     805 (1,485) (5,338)  
Prepaid expenses (4,704) (454)     216 4,254 4,266  
Other long-term assets   (1,364)         100  
Accounts payable, accrued expenses, and other current liabilities 7,732 8,316     4,018 34,224 6,082  
Accrued payroll 3,159         (1,134) 1,920  
Health plan settlements payable (2,592)         11,265 (8,941)  
Claims payable (971)         19,097 49,249  
Accrued interest (498) 2,275     1,241 5,216 5,290  
Operating lease liability (22) (359)     58 306 4,032  
Net cash used in operating activities (15,342) (23,722)     (27,776) (51,129) (126,019)  
CASH FLOWS FROM INVESTING ACTIVITIES:                
Purchases of property and equipment (120) (464)     (877) (3,290) (2,233)  
Acquisitions, net of cash acquired (47,879)         (4,989) (5,500)  
Notes receivable 143       (272) 70    
Net cash used in investing activities (47,856) (464)     (1,149) (8,209) (7,733)  
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from PIPE, net of issuance costs 195,308              
Proceeds from long-term debt, net of original issue discount   14,102       25,000 15,000  
Proceeds from short-term debt 3,377         351    
Payment of long-term debt (8)       (1,207) (186) (46)  
Payment of debt issuance costs           (375)    
Payment of short-term debt             (3,579)  
Net cash provided by (used in) financing activities 198,677 14,102     (1,207) 24,790 11,375  
Net Change in Cash and Restricted Cash 135,479 (10,084)     (30,132) (34,548) (122,377)  
Cash and restricted cash, beginning of period 5,355 18,457   $ 110,702 140,834 39,903 140,834 $ 39,903
Cash and restricted cash, end of period 140,834 8,373 18,457   110,702 5,355 18,457 140,834
Supplemental disclosure of cash flow information:                
Cash paid for interest 1,346         2,796 5,714  
Supplemental disclosures of non-cash investing and financing information:                
Operating lease liabilities arising from obtaining new right-of-use assets 314         4,073 6,839  
Warrants issued in connection with new debt             $ 643  
Increase in accrued expenses related to debt issuance costs and original issue discount             525  
Reconciliation of cash and restricted cash:                
Cash 140,478 7,183 17,537     5,301 $ 17,537 140,478
Restricted cash 356 1,190 920     54 920 356
Total Cash Balances $ 140,834 $ 8,373 $ 18,457   $ 110,702 $ 5,355 $ 18,457 $ 140,834