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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Total revenues $ 42,145 $ 35,972
Total costs of revenues 19,469 21,981
Gross profit 22,676 13,991
Operating expenses:    
Sales and marketing 4,619 3,434
Research and development 1,285 1,758
General and administrative 11,009 11,467
Depreciation and amortization 1,611 5,236
Stock-based compensation 989 1,374
Lease abandonment expenses 0 75
Goodwill and intangible asset impairment 495 6,174
Acquisition, integration, and transformation costs 3,446 2,384
Total operating expenses 23,454 31,902
Loss from operations (778) (17,911)
Other expense:    
Interest expense (6,858) (6,995)
Gain on fair value of derivative liability 26 4,829
Gain (loss) on fair value of warrant liabilities (8) 95
Other expense, net, including interest income (17) (16)
Total other expense (6,857) (2,087)
Loss before income tax benefit (7,635) (19,998)
Income tax benefit 0 2,293
Net loss (7,635) (17,705)
Less: net income (loss) attributable to noncontrolling interests 448 (260)
Net loss attributable to UpHealth, Inc. $ (8,083) $ (17,445)
Net loss per share attributable to UpHealth, Inc.:    
Basic (in dollars per share) $ (0.51) $ (1.21)
Diluted (in dollars per share) $ (0.51) $ (1.21)
Weighted average shares outstanding:    
Basic (in shares) [1] 15,730 14,454
Diluted (in shares) [1] 15,730 14,454
Services    
Total revenues $ 30,941 $ 25,686
Total costs of revenues 13,744 15,758
Licenses and subscriptions    
Total revenues 1,936 1,781
Total costs of revenues 319 233
Products    
Total revenues 9,268 8,505
Total costs of revenues $ 5,406 $ 5,990
[1] Amounts as of March 31, 2022 and before that date differ from those published in our prior condensed consolidated financial statements as they were retrospectively adjusted as a result of the Reverse Stock Split (as described below in Note 1, Organization and Business). Specifically, the number of common shares outstanding during periods before the Reverse Stock Split are divided by the exchange ratio of 10:1, such that each ten shares of common stock were combined and reconstituted into one share of common stock effective December 8, 2022.