Quarterly report [Sections 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, 2025
Mar. 31, 2024
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 373,225 $ 388,488
OPERATING EXPENSE:    
Medical expense 372,043 382,057
Premium deficiency reserve (6,962) 1,000
Corporate, general and administrative expense 24,999 27,401
Sales and marketing expense 181 322
Depreciation and amortization 21,052 21,539
TOTAL OPERATING EXPENSE 411,313 432,319
OPERATING LOSS (38,088) (43,831)
OTHER INCOME (EXPENSE):    
Interest expense, net (8,725) (4,256)
Mark-to-market of stock warrants 3,322 216
Other 318 337
TOTAL OTHER INCOME (EXPENSE) (5,085) (3,703)
LOSS BEFORE INCOME TAXES (43,173) (47,534)
INCOME TAX PROVISION (EXPENSE) (1,073) (2,072)
NET LOSS (44,246) (49,606)
LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST (23,766) (30,906)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST $ (20,480) $ (18,700)
NET LOSS PER SHARE (Note 9):    
Basic (in dollars per share) $ (6.28) $ (7.86)
Diluted (in dollars per share) $ (6.28) $ (7.86)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 9):    
Basic (in shares) 3,260 2,378
Diluted (in shares) 3,260 2,378
Capitated Revenue [Member]    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 369,517 $ 384,134
Other patient service revenue    
OPERATING REVENUE:    
TOTAL OPERATING REVENUE $ 3,708 $ 4,354