REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2023

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

Schedule of impact of restatement on financial statements

Revised Consolidated Balance Sheet

	As of December 31, 2022
	As Previously
	Reported		Adjustments		Other Adjustments		As Revised
	(In thousands)
ASSETS
CURRENT ASSETS:
Restricted cash	$	19,975	$	6,500	$	—	$	26,475
Trade accounts receivable, net of allowance for doubtful accounts of $9,223		143,264		—		(1,219)		142,045
Other current assets		8,372		378		—		8,750
Total current assets		289,747		6,878		(1,219)		295,406
PROPERTY AND EQUIPMENT, net		27,758		500		—		28,258
Total assets	$	1,338,487	$	7,378	$	(1,219)	$	1,344,646
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	18,003	$	—	$	(807)	$	17,196
Other current liabilities		36,320		3,362		—		39,682
Total current liabilities		130,263		3,362		(807)		132,818
OTHER LONG-TERM LIABILITIES		34,540		858		(542)		34,856
DEFERRED TAX LIABILITIES, net		39,704		(214)		(101)		39,389
Total liabilities		979,417		4,006		(1,450)		981,973
REDEEMABLE NONCONTROLLING INTERESTS		25,298		6,625		—		31,923
STOCKHOLDERS’ EQUITY:
Accumulated deficit		(732,988)		(3,253)		231		(736,010)
Total stockholders’ equity		333,772		(3,253)		231		330,750
Total liabilities, redeemable noncontrolling interests and equity	$	1,338,487	$	7,378	$	(1,219)	$	1,344,646

Revised Consolidated Statement of Operations

	Year Ended December 31, 2022
	As Previously				Other
	Reported		Adjustments		Adjustments		As Revised
	(In thousands, except per share data)
OPERATING EXPENSES:
Selling, general and administrative, including stock-based compensation of $239	$	160,230	$	—	$	412	$	160,642
Corporate selling, general and administrative, including stock-based compensation of $9,666		56,334		3,728		(542)		59,520
Total operating expenses		389,917		3,728		(130)		393,515
Operating income (loss)		94,687		(3,728)		130		91,089
Income (loss) before provision for (benefit from) income taxes and noncontrolling interests in income of subsidiaries		56,676		(3,728)		130		53,078
PROVISION FOR (BENEFIT FROM) INCOME TAXES		16,721		(202)		(101)		16,418
NET INCOME (LOSS)		39,955		(3,526)		231		36,660
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS		2,626		(309)		—		2,317
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$	37,329	$	(3,217)	$	231	$	34,343
BASIC NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS
Net income (loss) attributable to common stockholders	$	0.76	$	(0.06)	$	—	$	0.70
DILUTED NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS
Net income (loss) attributable to common stockholders	$	0.72	$	(0.06)	$	—	$	0.66

Revised Consolidated Statement of Comprehensive Income

	Year Ended December 31, 2022
	As Previously				Other
	Reported		Adjustments		Adjustments		As Revised
	(In thousands)
COMPREHENSIVE INCOME (LOSS)	$	58,232	$	(3,526)	$	231	$	54,937
LESS: COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS		2,626		(309)		—		2,317
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$	55,606	$	(3,217)	$	231	$	52,620

Revised Consolidated Statement of Changes in Stockholders’ Equity

		As Previously Reported
												Accumulated
		Convertible		Common		Common		Common		Common		Other		Additional				Total
		Preferred		Stock		Stock		Stock		Stock		Comprehensive		Paid-In		Accumulated		Stockholders’
For the year ended December 31, 2022		Stock		Class A		Class B		Class C		Class D		Income		Capital		Deficit		Equity
BALANCE, as of December 31, 2021	$	—	$	9	$	3	$	2	$	37	$	54,950	$	1,018,996	$	(770,317)	$	303,680
Net income		—		—		—		—		—		—		—		37,329		37,329
Stock-based compensation expense		—		1		—		—		1		—		6,593		—		6,595
Repurchase of 5,124,671 shares of Class D common stock		—		—		—		—		(4)		—		(26,539)		—		(26,543)
Exercise of options for 60,240 shares of Class D common stock		—		—		—		—		—		—		50		—		50
Other comprehensive income, net of tax		—		—		—		—		—		18,277		—		—		18,277
Adjustment of redeemable noncontrolling interests to estimated redemption value		—		—		—		—		—		—		(5,616)		—		(5,616)
BALANCE, as of December 31, 2022	$	—	$	10	$	3	$	2	$	34	$	73,227	$	993,484	$	(732,988)	$	333,772

		Adjustments and Other Adjustments
												Accumulated
		Convertible		Common		Common		Common		Common		Other		Additional				Total
		Preferred		Stock		Stock		Stock		Stock		Comprehensive		Paid-In		Accumulated		Stockholders’
For the year ended December 31, 2022		Stock		Class A		Class B		Class C		Class D		Income		Capital		Deficit		Equity
BALANCE, as of December 31, 2021	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(36)	$	(36)
Net (loss)		—		—		—		—		—		—		—		(2,986)		(2,986)
Total Adjustments	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(3,022)	$	(3,022)

		As Revised
												Accumulated
		Convertible		Common		Common		Common		Common		Other		Additional				Total
		Preferred		Stock		Stock		Stock		Stock		Comprehensive		Paid-In		Accumulated		Stockholders'
For the year ended December 31, 2022		Stock		Class A		Class B		Class C		Class D		Income		Capital		Deficit		Equity
BALANCE, as of December 31, 2021	$	—	$	9	$	3	$	2	$	37	$	54,950	$	1,018,996	$	(770,353)	$	303,644
Net income (loss)		—		—		—		—		—		—		—		34,343		34,343
Stock-based compensation expense		—		1		—		—		1		—		6,593		—		6,595
Repurchase of 5,124,671 shares of Class D common stock		—		—		—		—		(4)		—		(26,539)		—		(26,543)
Exercise of options for 60,240 shares of Class D common stock		—		—		—		—		—		—		50		—		50
Adjustment of redeemable noncontrolling interests to estimated redemption value		—		—		—		—		—		—		(5,616)		—		(5,616)
Other comprehensive income, net of tax		—		—		—		—		—		18,277		—		—		18,277
BALANCE, as of December 31, 2022	$	—	$	10	$	3	$	2	$	34	$	73,227	$	993,484	$	(736,010)	$	330,750

Revised Consolidated Statement of Cash Flows

	Year Ended December 31, 2022
	As
	Previously				Other		As
	Reported		Adjustments		Adjustments		Revised
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	39,955	$	(3,526)	$	231	$	36,660
Adjustments to reconcile net income (loss) to net cash from operating activities:
Bad debt expense		1,425		—		412		1,837
Deferred income taxes		14,878		(202)		(101)		14,575
Stock-based compensation		6,595		3,317		—		9,912
Effect of change in operating assets and liabilities, net of assets acquired:
Trade accounts receivable		(16,930)		—		807		(16,123)
Prepaid expenses and other current assets		(6,691)		40		—		(6,651)
Accounts payable		1,111		—		(807)		304
Other liabilities		(3,710)		(141)		(542)		(4,393)
Net cash flows (used in) provided by operating activities		67,060		(512)		—		66,548
CASH FLOWS FROM FINANCING ACTIVITIES:
Contributions from noncontrolling interest members of RVAEH		—		512		—		512
Net cash flows provided by (used in) financing activities		(95,216)		512		—		(94,704)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period		152,218		6,500		—		158,718
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	$	95,379	$	6,500	$	—	$	101,879