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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Premiums earned, net (Net of ceded premiums of $116 and $120 for the three months ended September 30, 2022 and 2021, respectively; net of ceded premiums of $354 and $370 for the nine months ended September 30, 2022 and 2021, respectively) $ 267,892 $ 203,657 $ 814,566 $ 598,390
Non-Insurance revenue 585,311 222,647 1,757,579 439,020
Other income 3,614 859 5,751 2,550
Total revenues 856,817 427,163 2,577,896 1,039,960
Operating expenses:        
Net medical claims incurred 839,799 436,325 2,560,307 1,109,248
Salaries and benefits 70,142 73,364 209,724 201,555
General and administrative expenses 47,832 45,846 152,569 130,110
Premium deficiency reserve (benefit) expense (27,657) 20,761 (82,971) 48,661
Depreciation and amortization 616 120 2,028 398
Other expense 0 0 0 191
Total operating expenses 930,732 576,416 2,841,657 1,490,163
Loss from operations (73,915) (149,253) (263,761) (450,203)
Change in fair value of warrants payable 0 (115,152) 0 (66,146)
Interest expense 404 404 1,197 2,790
Amortization of notes and securities discounts 9 22 27 13,708
Loss (gain) on investment (980) 0 10,187 0
Net loss $ (75,308) $ (34,527) $ (254,798) $ (400,555)
Per share data:        
Net loss per share attributable to Class A and Class B common stockholders - basic (in dollars per share) [1] $ (0.16) $ (0.08) $ (0.54) $ (0.98)
Net loss per share attributable to Class A and Class B common stockholders - diluted (in dollars per share) [1] $ (0.16) $ (0.08) $ (0.54) $ (0.98)
Weighted average number of common shares outstanding        
Basic weighted average number of Class A and Class B common shares and common share equivalents outstanding (in shares) [1] 477,690,204 414,572,706 475,609,571 410,417,493
Diluted weighted average number of Class A and Class B common shares and common share equivalents outstanding (in shares) [1] 477,690,204 414,572,706 475,609,571 410,417,493
Net unrealized loss on available-for-sale investments $ (2,407) $ (197) $ (8,826) $ (620)
Comprehensive loss $ (77,715) $ (34,724) $ (263,624) $ (401,175)
[1] Because the Company had a net loss during the three and nine months ended September 30, 2022 and 2021, the Company's potentially dilutive securities, which include stock options, restricted stock, preferred stock, and warrants to purchase shares of common stock and preferred stock, have been excluded from the computation of diluted net loss per share, as the effect would be anti-dilutive.