XML 19 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Capitated revenue (Related parties comprised $150,479 and $97,438, and $335,383 and $107,747, in the three months ended June 30, 2021 and 2020, and in the six months ended June 30, 2021 and 2020, respectively) $ 379,210 $ 163,927 $ 646,261 $ 291,643
Fee-for-service and other revenue (Related parties comprised $219 and $213, and $631 and $344, in the three months ended June 30, 2021 and 2020, and in the six months ended June 30, 2021 and 2020, respectively) 13,953 7,279 27,037 14,861
Total revenue 393,163 171,206 673,298 306,504
Operating expenses:        
Third-party medical costs (Related parties comprised $115,975 and $70,555, and $249,819 and $76,943, in the three months ended June 30, 2021 and 2020, and in the six months ended June 30, 2021 and 2020, respectively) 291,816 112,040 486,862 197,353
Direct patient expense (Related parties comprised $64 and $448, and $1,488 and $1,223, in the three months ended June 30, 2021 and 2020, and in the six months ended June 30, 2021 and 2020, respectively) 43,782 22,554 78,069 40,333
Selling, general, and administrative expenses (Related parties comprised $1,600 and $1,133, and $3,112 and $1,939, in the three months ended June 30, 2021 and 2020, and in the six months ended June 30, 2021 and 2020, respectively) 46,574 21,859 81,422 42,843
Depreciation and amortization expense 7,945 3,977 13,791 7,362
Transaction costs and other (Related parties comprised $1,465 and $4,209, and $1,483 and $5,369, in the three months ended June 30, 2021 and 2020, and in the six months ended June 30, 2021 and 2020, respectively) 16,374 15,687 25,613 22,138
Total operating expenses 406,491 176,117 685,757 310,029
Loss from operations (13,328) (4,911) (12,459) (3,525)
Other income and expense:        
Interest expense (9,714) (5,717) (20,340) (9,382)
Interest income (Related parties comprised $79 and $157, in the three months ended June 30, 2020, and in the six months ended June 30, 2020, respectively) 1 79 2 159
Loss on extinguishment of debt (13,225)   (13,225)  
Change in fair value of embedded derivative   (306)   (306)
Change in fair value of warrant liabilities 39,215   39,215  
Other expense (25) (150) (25) (150)
Total other income (expense) 16,252 (6,094) 5,627 (9,679)
Net income (loss) before income tax benefit 2,924 (11,005) (6,832) (13,204)
Income tax benefit 2,023 19 1,309 32
Net income (loss) 4,947 (10,986) (5,523) (13,172)
Net loss attributable to non-controlling interests (4,533) $ 0 (15,003) $ 0
Net income attributable to Class A common stockholders $ 9,480   $ 9,480  
Net loss per common share:        
Net income per share to Class A common stockholders, basic $ 0.06   $ 0.06  
Net loss per share to Class A common stockholders, diluted $ (0.03)   $ (0.03)  
Weighted-average shares used in computation of earnings per share:        
Basic 167,134,853   166,691,634  
Diluted 168,884,315   167,571,198