XML 25 R3.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 58,192 $ 1,839
Restricted cash 18,609 530
Accounts receivable, net 22,761 6,703
Inventories 2,928 117
Due from related parties 40 0
Prepaid expenses and other current assets 4,217 3,501
Total current assets 106,747 12,690
Property, plant and equipment, net of accumulated depreciation of $4,741 and $3 at December 31, 2021 and 2020, respectively. 56,072 151
Intangible assets, net of accumulated amortization of $12,350 and $318 at December 31, 2021 and 2020, respectively. 115,313 27,782
Goodwill 284,268 164,194
Deferred tax asset 0 335
Equity method investments 0 57,214
Other assets 6,907 24
Total assets 569,307 262,390
Current liabilities:    
Accounts payable 13,604 2,680
Accrued expenses 36,084 8,482
Deferred revenue 2,649 397
Due to related party 47 70
Income tax payable 739 673
Related-party long-term debt, current 657 39
Long-term debt, current 22,093 22,531
Forward share purchase liability 18,051 0
Other current liabilities 2,780 0
Total current liabilities 96,704 34,872
Related-party long-term debt, noncurrent 331 381
Long-term debt, noncurrent 98,417 344
Deferred tax liabilities 28,281 6,072
Warrant liabilities, noncurrent 252 0
Derivative liability, noncurrent 7,977 0
Other long-term liabilities 3,502 0
Total liabilities 235,464 41,669
Commitments and Contingencies (Note 18)
Stockholders' Equity Attributable to Parent [Abstract]    
Preferred stock, $0.0001 par value, 1,000 shares authorized; none issued or outstanding at December 31, 2021 and 2020, respectively. 0 0
Common stock, $0.0001 par value, 300,000 shares authorized, 144,279 and 70,021 issued and outstanding at December 31, 2021 and 2020, respectively. 14 7
Additional paid in capital 665,461 222,900
Accumulated deficit (343,209) (2,186)
Accumulated other comprehensive loss (3,802) 0
Total UpHealth, Inc., stockholders’ equity 318,464 220,721
Noncontrolling interests 15,379 0
Total stockholders’ equity 333,843 220,721 [1]
Total liabilities and stockholders’ equity $ 569,307 $ 262,390
[1] (1) Amounts as of March 31, 2021 and before that date differ from those published in prior consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combinations (as defined below in Note 1). Specifically, the number of common shares outstanding during periods before the Business Combinations are computed on the basis of the number of common shares of UpHealth Holdings (accounting acquiror) during those periods multiplied by the exchange ratio established in the stock purchase agreement (1.00 UpHealth Holdings shares converted to 10.28 GigCapital2 shares). Common stock and additional paid-in capital were adjusted accordingly.