SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Segment Reporting Information, by Segment

Presented in the tables below is revenue and Segment Adjusted EBITDA by reportable segment:


	For the Three Months Ended September 30, 2021				For the Nine Months Ended September 30, 2021
(in thousands)	Technology Enabled Solutions		Advisory Services		Technology Enabled Solutions		Advisory Services
Revenue	$	69,248	$	13,163	$	200,196	$	40,094
Segment Adjusted EBITDA	$	19,786	$	4,559	$	52,038	$	13,159


	For the Three Months Ended September 30, 2020				For the Nine Months Ended September 30, 2020
(in thousands)	Technology Enabled Solutions		Advisory Services		Technology Enabled Solutions		Advisory Services
Revenue	$	60,056	$	9,472	$	166,850	$	28,983
Segment Adjusted EBITDA	$	19,088	$	1,799	$	44,196	$	4,068

The following table presents a reconciliation of Segment Adjusted EBITDA to the condensed consolidated U.S. GAAP net income (loss) from continuing operations:


(in thousands)	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Technology Enabled Solutions Segment Adjusted EBITDA	$	19,786	$	19,088	$	52,038	$	44,196
Advisory Services Segment Adjusted EBITDA	4,559		1,799		13,159		4,068
Total	$	24,345	$	20,887	$	65,197	$	48,264
Unallocated(1)	$	(3,742)	$	(2,086)	$	(8,731)	$	(6,410)
Adjustments to reconcile to U.S. GAAP net income (loss) from continuing operations
Depreciation and amortization	(7,473)		(6,918)		(22,667)		(20,710)
Interest, net	(3,283)		(4,561)		(15,144)		(13,471)
Income tax provision	(1,131)		472		5,042		3,272
Cost of COVID-19(2)	(746)		(3,254)		(3,057)		(7,772)
Sales and use tax	(1,734)		(2,122)		(5,802)		(5,577)
Non-cash stock compensation expense	(1,093)		(1,745)		(3,166)		(5,671)
Transaction related costs	(328)		(80)		(2,969)		(277)
Acquisition bonus expense – HealthScape and Pareto acquisition	(192)		(481)		(481)		(1,476)
Loss on extinguishment of debt	—		—		(5,015)		—
Director and officer prior act liability insurance policy(3)	—		—		(7,861)		—
Other(4)	(937)		(1,758)		(5,737)		(4,773)
Net income (loss) from continuing operations	$	3,686	$	(1,646)	$	(10,391)	$	(14,601)

________________________

(1)Represents certain corporate costs associated with the executive compensation, legal, accounting, finance and other costs not specifically attributable to the segments.

(2)Expenses incurred due to the COVID-19 pandemic are primarily related to higher pricing from vendors due to supply chain disruptions and product shortages and higher employee costs due to hazard pay for our employees.

(3)In connection with the IPO, we made a $7.9 million one-time payment on a 3-year director and officer prior act liability insurance policy. We deemed this policy to be a retroactive insurance policy and in accordance with ASC 720-20-25, “Retrospective Contracts”, we expensed the premium of $7.9 million in June 2021.

(4)These adjustments include individual adjustments related to fees associated with obtaining the incremental loans, management fees, management service agreement termination fee, board of directors related fees, and consulting costs for the selection of ERP solution.