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SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Presented in the tables below is revenue and Segment Adjusted EBITDA by reportable segment:
For the Year Ended December 31, 2021
(in thousands)
Technology Enabled
Solutions
Advisory
Services
Revenue$284,619 $52,977 
Segment Adjusted EBITDA$69,214 $16,232 
For the Year Ended December 31, 2020
(in thousands)
Technology Enabled
Solutions
Advisory
Services
Revenue$241,336 $41,578 
Segment Adjusted EBITDA$66,043 $8,204 
Period from Inception to December 31, 2019 (Successor)
(in thousands) Technology Enabled Solutions Advisory Services
Revenue $66,530 $13,885 
Segment Adjusted EBITDA $14,881 $1,445 
Period from January 1, 2019 to September 3, 2019 (Predecessor)
(in thousands) Technology Enabled Solutions Advisory Services
Revenue $109,932 $30,806 
Segment Adjusted EBITDA $29,205 $6,073 
The following table presents a reconciliation of Segment Adjusted EBITDA to the consolidated U.S. GAAP net income (loss) from continuing operations:
(in thousands)For the Years Ended December 31,Period from Inception to December 31, 2019Period from January 1, 2019 to September 3, 2019
20212020(Successor)(Predecessor)
Technology Enabled Solutions Segment Adjusted EBITDA$69,214 $66,043 $14,881 $29,205 
Advisory Services Segment Adjusted EBITDA16,232 8,204 1,445 6,073 
Total$85,446 $74,247 $16,326 $35,278 
Unallocated(1)
$(11,819)$(9,024)$(66)$(3,595)
Adjustments to reconcile to U.S. GAAP net income (loss) from continuing operations
Depreciation and amortization(30,480)(28,032)(9,188)(13,359)
Interest, net(17,294)(18,853)(5,762)(6,213)
Income tax provision619 1,904 858 23,288 
Change in fair value of contingent consideration96 10,770 — (19,671)
Cost of COVID-19(2)
(3,827)(10,174)— — 
Consultant lower utilization due to COVID-19(3)
— (2,062)— — 
Sales and use tax(2,569)(8,194)(1,906)(3,133)
Non-cash stock compensation expense(4,380)(6,682)— (300)
Transaction related costs(5,894)(3,949)(14,784)(2,511)
Acquisition bonus expense – HealthScape and Pareto acquisition(667)(1,989)(1,663)(3,685)
Loss on extinguishment of debt(5,015)— — — 
Director and officer prior act liability insurance policy(4)
(7,861)— — — 
Other(5)
(6,333)(4,460)(714)(1,754)
Net income (loss) from continuing operations$(9,978)$(6,498)$(16,899)$4,345 
_______________________
(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 include the following: $0 and $3.2 million for early hire of employees due to social distancing and work at home protocols for the years ended December 31, 2021, and 2020, respectively; $2.3 million and $2.9 million for higher pricing from vendors due to supply chain disruptions, product shortages and increases in shipping costs for the years ended December 31, 2021, and 2020, respectively; $0.8 million and $2.8 million for higher employee costs due to hazard pay for our employees, enhanced sick pay due to illness and quarantine protocols for the years ended December 31, 2021, and 2020, respectively; $0.5 million and $0.7 million for COVID-19 training, overtime, temporary resources, and IT costs due to the change in the work environment for the years ended December 31, 2021 and 2020, respectively; and $0.2 million and $0.5 million for janitorial costs due to enhanced COVID-19 protocols for the years ended December 31, 2021 and 2020, respectively.
(3)Consultant lower utilization due to COVID-19 reflects the decreased productivity of the Advisory segment in connection with the COVID-19 pandemic. The average utilization for consultants in the Company’s Advisory Services segment declined during the COVID-19 pandemic as compared to pre-pandemic comparable periods. The utilization variance was multiplied by the average consultant cost to derive the cost absorbed by the Company. This change in utilization represents consultants’ idle time that otherwise would have been billed to clients if the consulting arrangements would have materialized. In addition, we chose not to reduce our headcount as we expected the lower utilization to be temporary in nature.
(4)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.
(5)These adjustments include individual adjustments related to legal fees associated with obtaining the incremental loans, contract termination costs assessed upon the early termination of a facility lease, severance costs incurred as a result of eliminating certain positions, management fees, management service agreement termination fee, certain revenue adjustments, professional fees incurred in the implementation of ASC 606, board of directors related fees, and consulting costs for the selection of our Enterprise Resource Planning solution.