Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 388,488 $ 302,077
OPERATING EXPENSE:    
Medical expense 382,057 285,570
Premium deficiency reserve 1,000 5,140
Corporate, general and administrative expense 27,401 37,643
Sales and marketing expense 322 1,001
Depreciation and amortization 21,539 21,540
TOTAL OPERATING EXPENSE 432,319 350,894
OPERATING LOSS (43,831) (48,817)
OTHER INCOME (EXPENSE):    
Interest expense, net (4,256) (4,086)
Mark-to-market of stock warrants 216 649
Other 337 96
TOTAL OTHER EXPENSE (3,703) (3,341)
LOSS BEFORE INCOME TAXES (47,534) (52,158)
PROVISION FOR INCOME TAXES (2,072) (290)
NET LOSS (49,606) (52,448)
LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST (30,906) (43,249)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST $ (18,700) $ (9,199)
NET LOSS PER SHARE (Note 9):    
Basic (in dollars per share) $ (0.16) $ (0.22)
Diluted (in dollars per share) $ (0.16) $ (0.22)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 9):    
Basic (in shares) 118,887 41,579
Diluted (in shares) 118,887 41,579
Capitated revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 384,134 $ 298,704
Other patient service revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 4,354 $ 3,373