CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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| OPERATING REVENUE: | ||||
| TOTAL OPERATING REVENUE | $ 288,351 | $ 248,260 | $ 919,514 | $ 791,258 |
| OPERATING EXPENSE: | ||||
| Medical expense | 279,220 | 254,777 | 867,061 | 788,046 |
| Premium deficiency reserve | (12,489) | (7,302) | (9,361) | (10,116) |
| Corporate, general and administrative expense | 33,065 | 37,863 | 97,931 | 117,560 |
| Sales and marketing expense | 654 | 1,118 | 2,512 | 3,391 |
| Depreciation and amortization | 21,721 | 21,815 | 65,041 | 65,287 |
| Goodwill impairment | 0 | 0 | 0 | 851,456 |
| TOTAL OPERATING EXPENSE | 322,171 | 308,271 | 1,023,184 | 1,815,624 |
| OPERATING LOSS | (33,820) | (60,011) | (103,670) | (1,024,366) |
| OTHER INCOME (EXPENSE): | ||||
| Interest expense, net | (4,002) | (2,963) | (11,939) | (8,418) |
| Mark-to-market of stock warrants | 755 | (2,568) | (327) | 3,386 |
| Other | 190 | 213 | (455) | 173 |
| TOTAL OTHER EXPENSE | (3,057) | (5,318) | (12,721) | (4,859) |
| LOSS BEFORE INCOME TAXES | (36,877) | (65,329) | (116,391) | (1,029,225) |
| PROVISION FOR INCOME TAXES | (412) | 0 | (928) | 0 |
| NET LOSS | (37,289) | (65,329) | (117,319) | (1,029,225) |
| LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST | (23,993) | (54,156) | (85,008) | (853,125) |
| NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST | $ (13,296) | $ (11,173) | $ (32,311) | $ (176,100) |
| NET LOSS PER SHARE (Note 9): | ||||
| Basic (in dollars per share) | $ (0.12) | $ (0.27) | $ (0.37) | $ (4.24) |
| Diluted (in dollars per share) | $ (0.12) | $ (0.27) | $ (0.41) | $ (4.27) |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 9): | ||||
| Basic (in shares) | 114,198 | 41,579 | 88,010 | 41,579 |
| Diluted (in shares) | 312,679 | 243,036 | 288,379 | 241,263 |
| Capitated revenue | ||||
| OPERATING REVENUE: | ||||
| TOTAL OPERATING REVENUE | $ 285,153 | $ 243,988 | $ 909,473 | $ 780,775 |
| Other patient service revenue | ||||
| OPERATING REVENUE: | ||||
| TOTAL OPERATING REVENUE | $ 3,198 | $ 4,272 | $ 10,041 | $ 10,483 |
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- Definition Represents the amount of medical expenses incurred during the period. No definition available.
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- Definition Represents the amount of medical expenses incurred during the period. No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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