Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 1,266,375 $ 1,049,471
OPERATING EXPENSE:    
Medical expense 1,234,740 1,057,224
Premium deficiency reserve (12,705) (11,461)
Corporate, general and administrative expense 122,362 157,284
Sales and marketing expense 3,233 5,096
Depreciation and amortization 86,675 87,289
Goodwill impairment 0 1,314,952
TOTAL OPERATING EXPENSE 1,434,305 2,610,384
OPERATING LOSS (167,930) (1,560,913)
OTHER INCOME (EXPENSE):    
Interest expense, net (15,985) (11,404)
Mark-to-market of stock warrants 433 9,865
Other (249) 2,757
TOTAL OTHER (EXPENSE) INCOME (15,801) 1,218
LOSS BEFORE INCOME TAXES (183,731) (1,559,695)
PROVISION FOR INCOME TAXES (2,695) (1,862)
NET LOSS (186,426) (1,561,557)
LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST (128,653) (1,291,430)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST $ (57,773) $ (270,127)
NET LOSS PER SHARE (Note 15):    
Basic (in dollars per share) $ (0.61) $ (6.50)
Diluted (in dollars per share) $ (0.63) $ (6.50)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 15):    
Basic (in shares) 94,889 41,579
Diluted (in shares) 294,590 41,579
Capitated revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 1,252,309 $ 1,034,800
Other patient service revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 14,066 $ 14,671