Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 1,459,080 $ 1,500,455
OPERATING EXPENSE:    
Medical expense 1,519,240 1,559,372
Premium deficiency reserve 18,749 53,698
Corporate, general and administrative expense 106,311 112,596
Sales and marketing expense 918 1,331
Depreciation and amortization 84,163 86,058
Impairment of assets held for sale 0 8,058
TOTAL OPERATING EXPENSE 1,729,381 1,821,113
OPERATING LOSS (270,301) (320,658)
OTHER INCOME (EXPENSE):    
Interest expense, net (55,034) (22,173)
Mark-to-market of stock warrants 7,850 22,114
Other (3,414) 1,457
TOTAL OTHER INCOME (EXPENSE) (50,760) 14,667
Gain (Loss) on Disposition of Assets (162) 13,269
LOSS BEFORE INCOME TAXES (321,061) (305,991)
INCOME TAX PROVISION (2,025) (4,387)
NET LOSS (323,086) (310,378)
LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST (175,138) (174,529)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST $ (147,948) $ (135,849)
NET LOSS PER SHARE (Note 17):    
Basic (in dollars per share) $ (45.26) $ (46.78)
Diluted (in dollars per share) $ (45.26) $ (54.06)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 17):    
Basic (in shares) 3,269 2,904
Diluted (in shares) 3,269 2,940
Capitated Revenue [Member]    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 1,428,979 $ 1,483,602
Other patient service revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 30,101 $ 16,853