Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 302,077 $ 273,544
OPERATING EXPENSE:    
Medical expense 285,570 265,821
Premium deficiency reserve 5,140 (1,325)
Corporate, general and administrative expense 37,643 38,599
Sales and marketing expense 1,001 865
Depreciation and amortization 21,540 21,752
TOTAL OPERATING EXPENSE 350,894 325,712
OPERATING LOSS (48,817) (52,168)
OTHER INCOME (EXPENSE):    
Interest expense, net (4,086) (2,755)
Mark-to-market of stock warrants 649 (5,861)
Other 96 (6)
TOTAL OTHER EXPENSE (3,341) (8,622)
LOSS BEFORE INCOME TAXES (52,158) (60,790)
PROVISION FOR INCOME TAXES (290) 0
NET LOSS (52,448) (60,790)
LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTERESTS (43,249) (50,213)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTERESTS $ (9,199) $ (10,577)
NET LOSS PER SHARE    
Basic (in dollars per share) $ (0.22) $ (0.25)
Diluted (in dollars per share) $ (0.22) $ (0.25)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    
Basic (in shares) 41,579 41,579
Diluted (in shares) 41,579 41,579
Capitated revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 298,704 $ 269,685
Other patient service revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 3,373 $ 3,859