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COMBINED CARVE-OUT STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net revenues:      
Total net revenues $ 30,752 $ 31,007 $ 25,964
Cost of revenues:      
Total cost of revenues 28,779 26,100 22,247
Gross (loss) profit 1,973 4,907 3,717
Operating expenses:      
Selling expenses 428 320 158
General and administrative expenses 6,027 4,338 4,879
Impairment loss on goodwill 19,156 0 0
Impairment loss on long-lived assets 3,505 0 0
Total operating expenses 29,116 4,658 5,037
Operating Income(loss) (27,143) 249 (1,320)
Interest income 30 67 252
Government subsidy income 1,682 2,176 4,348
Income(loss) before income tax (25,431) 2,492 3,280
Less: Income tax (benefits) expenses (789) 443 321
Net (loss) income (24,642) 2,049 2,959
Net income(loss) attributable to non-controlling interest (2,472) 677 1,084
Net (loss) income attributable to ordinary shareholders of Gravitas Education Holdings, Inc. $ (22,170) $ 1,372 $ 1,875
Net income (loss) per share      
Basic (in dollars per share) $ (0.78) $ 0.05 $ 0.07
Diluted (in dollars per share) $ (0.78) $ 0.05 $ 0.06
Weighted average shares, Basic 28,291,887 28,208,734 28,122,851
Weighted average shares, Diluted 28,291,887 28,962,480 28,870,450
Services      
Net revenues:      
Total net revenues $ 30,646 $ 30,933 $ 25,916
Net revenues, third parties 30,535 30,528 25,444
Net revenues, related parties 111 405 472
Cost of revenues:      
Total cost of revenues 28,691 26,065 22,225
Products      
Net revenues:      
Total net revenues 106 74 48
Net revenues, third parties 106 74 48
Cost of revenues:      
Total cost of revenues $ 88 $ 35 $ 22