Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (44,246) $ (49,606)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 21,052 21,539
Equity-based compensation 1,808 1,449
Amortization of original issue discount and debt issuance costs 331 (140)
Mark-to-market adjustment of stock warrants (3,322) (216)
Premium deficiency reserve (6,962) 1,000
Changes in operating assets and liabilities:    
Health plan receivable (8,084) (25,198)
Clinic fees, insurance, and other receivable (1,462) 2,892
Prepaid expenses and other current assets (558) (3,296)
Other long-term assets (14,345) (17)
Accounts payable, accrued expenses, and other current liabilities 1,593 (5,553)
Accrued payroll 494 1,542
Health plan settlements payable 1,150 (12,944)
Claims payable 13,575 44,168
Accrued interest 5,614 4,387
Operating lease liability (104) (37)
Net cash used in operating activities (33,466) (20,030)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash provided by (used in) investing activities 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from long-term debt, net of original issue discount 30,000 10,000
Payment of debt issuance costs (139) 0
Proceeds from at-the-market sales, net of offering costs paid 0 33
Payment of tax withholdings upon settlement of restricted stock unit awards 0 (73)
Repayment of short-term and long-term debt (341) (430)
Proceeds from short-term debt 1,137 1,871
Net cash provided by financing activities 30,657 11,401
Net change in cash and restricted cash (2,809) (8,629)
Cash and restricted cash, beginning of period 44,102 40,934
Cash and restricted cash, end of period 41,293 32,305
Reconciliation of cash and restricted cash:    
Cash 40,082  
Restricted cash 1,211  
Total cash and restricted cash $ 41,293 $ 32,305