Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (102,850) $ (181,230) $ (117,319)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 21,673 64,905 65,041
Equity-based compensation   5,031 4,259
Amortization of original issue discount and debt issuance costs   13 405
Accretion of contingent consideration   0 113
Gain on write off of contingent consideration   (4,907) 0
Mark-to-market adjustment of stock warrants (5,737) (14,626) 327
Premium deficiency reserve 18,168 15,771 (9,361)
Changes in operating assets and liabilities:      
Health plan receivable   (4,828) (45,258)
Clinic fees, insurance, and other receivable   445 5,275
Prepaid expenses and other current assets   (7,402) (429)
Other long-term assets   (2) (1,214)
Accounts payable, accrued expenses, and other current liabilities   1,780 2,758
Accrued payroll   903 2,405
Health plan settlements payable   6,177 21,814
Claims payable   52,727 4,290
Accrued interest   12,281 7,092
Operating lease liability   72 (348)
Net cash used in operating activities   (52,890) (60,150)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment   0 (2,039)
Purchase price received in advance of asset sale   15,000  
Net cash provided by (used in) investing activities   15,000 (2,039)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from long-term debt, net of original issue discount   25,000 14,101
Payment of debt issuance costs   (100) (173)
Proceeds from liability-classified warrants and private placement offering, net of offering costs paid   40,547 87,244
Proceeds from at-the-market sales, net of offering costs paid   33 0
Deferred offering costs paid   (507) 0
Payment of tax withholdings upon settlement of restricted stock unit awards   (127) 0
Repayment of short-term and long-term debt   (1,663) 0
Proceeds from short-term debt   1,871 0
Net cash provided by financing activities   65,054 101,172
Net change in cash and restricted cash   27,164 38,983
Cash and restricted cash, beginning of period   40,934 18,457
Cash and restricted cash, end of period 68,098 68,098 57,440
Reconciliation of cash and restricted cash:      
Cash 62,962 62,962  
Restricted cash 5,136 5,136  
Total cash and restricted cash $ 68,098 $ 68,098 $ 57,440