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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Total revenues $ 37,823 $ 43,668 $ 79,968 $ 79,640
Total costs of revenues 17,847 22,745 37,316 44,726
Gross profit 19,976 20,923 42,652 34,914
Operating expenses:        
Sales and marketing 2,421 3,539 7,040 6,973
Research and development 848 2,011 2,133 3,769
General and administrative 12,765 12,880 23,774 24,347
Depreciation and amortization 1,736 4,700 3,347 9,936
Stock-based compensation 1,058 1,088 2,047 2,462
Impairment of goodwill, intangible assets, and other long-lived assets 8,246 0 8,741 6,249
Acquisition, integration, and transformation costs 3,644 6,749 7,090 9,133
Total operating expenses 30,718 30,967 54,172 62,869
Loss from operations (10,742) (10,044) (11,520) (27,955)
Other expense:        
Interest expense (7,136) (6,603) (13,994) (13,598)
Other income, net, including interest income 126 1,950 127 6,858
Total other expense (7,010) (4,653) (13,867) (6,740)
Loss before income tax benefit (expense) (17,752) (14,697) (25,387) (34,695)
Income tax benefit (expense) (867) 2,232 (867) 4,525
Net loss (18,619) (12,465) (26,254) (30,170)
Less: net income (loss) attributable to noncontrolling interests 508 (27) 956 (287)
Net loss attributable to UpHealth, Inc. $ (19,127) $ (12,438) $ (27,210) $ (29,883)
Net loss per share attributable to UpHealth, Inc.:        
Basic (in dollars per share) $ (1.05) $ (0.86) $ (1.60) $ (2.07)
Diluted (in dollars per share) $ (1.05) $ (0.86) $ (1.60) $ (2.07)
Weighted average shares outstanding:        
Basic (in shares) [1] 18,220 14,462 16,975 14,458
Diluted (in shares) [1] 18,220 14,462 16,975 14,458
Services        
Total revenues $ 31,087 $ 28,096 $ 62,028 $ 53,782
Total costs of revenues 14,954 16,232 28,698 31,990
Licenses and subscriptions        
Total revenues 2,852 6,812 4,788 8,593
Total costs of revenues 403 217 722 450
Products        
Total revenues 3,884 8,760 13,152 17,265
Total costs of revenues $ 2,490 $ 6,296 $ 7,896 $ 12,286
[1] Amounts as of June 30, 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.