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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Total revenues $ 32,681 $ 38,666 $ 112,649 $ 118,306
Total costs of revenues 15,058 21,640 52,374 66,366
Gross profit 17,623 17,026 60,275 51,940
Operating expenses:        
Sales and marketing 2,745 4,648 9,785 11,621
Research and development 1,978 2,175 4,111 5,944
General and administrative 8,817 12,628 32,591 36,975
Depreciation and amortization 1,828 3,336 5,175 13,272
Stock-based compensation 598 2,126 2,645 4,588
Impairment of goodwill, intangible assets, and other long-lived assets 41,217 106,096 49,958 112,345
Acquisition, integration, and transformation costs 33,229 6,049 40,319 15,182
Total operating expenses 90,412 137,058 144,584 199,927
Loss from operations (72,789) (120,032) (84,309) (147,987)
Other income (expense):        
Interest expense (6,709) (6,708) (20,703) (20,306)
Gain (loss) on deconsolidation of subsidiary 59,065 (37,708) 59,065 (37,708)
Gain (loss) on fair value of derivative liability 0 223 (3) 6,893
Loss on extinguishment of debt 0 (14,610) 0 (14,610)
Other income, net, including interest income 295 32 425 220
Total other income (expense) 52,651 (58,771) 38,784 (65,511)
Loss before income tax benefit (expense) (20,138) (178,803) (45,525) (213,498)
Income tax benefit (expense) 0 13,219 (867) 17,744
Net loss (20,138) (165,584) (46,392) (195,754)
Less: net income (loss) attributable to noncontrolling interests 467 178 1,423 (109)
Net loss attributable to UpHealth, Inc. $ (20,605) $ (165,762) $ (47,815) $ (195,645)
Net loss per share attributable to UpHealth, Inc.:        
Basic (in dollars per share) $ (1.12) $ (11.17) $ (2.74) $ (13.41)
Diluted (in dollars per share) $ (1.12) $ (11.17) $ (2.74) $ (13.41)
Weighted average shares outstanding:        
Basic (in shares) [1] 18,428 14,842 17,459 14,588
Diluted (in shares) [1] 18,428 14,842 17,459 14,588
Services        
Total revenues $ 30,825 $ 27,600 $ 92,853 $ 81,382
Total costs of revenues 14,493 14,913 43,191 46,903
Licenses and subscriptions        
Total revenues 1,760 2,019 6,548 10,612
Total costs of revenues 425 463 1,147 913
Products        
Total revenues 96 9,047 13,248 26,312
Total costs of revenues $ 140 $ 6,264 $ 8,036 $ 18,550
[1] Amounts as of September 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.