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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 190,562 $ 103,791
Short-term investments 69,478 41,457
Investment securities, available-for-sale (Amortized cost: 2023: $159,062; 2022: $193,300) 156,542 189,498
Investment securities, held-to-maturity (Fair value: 2023: $15; 2022: $15) 15 15
Accrued retrospective premiums 70,185 20,387
Other receivables 24,291 23,596
Healthcare receivables 56,943 70,607
Non-Insurance performance year receivable 552,620 0
Non-Insurance receivable 53,625 52,955
Surety bonds and deposits 80,329 100,502
Prepaid expenses 16,898 18,146
Other assets, current 2,771 4,043
Total current assets 1,274,259 624,997
Investment securities, available-for-sale (Amortized cost: 2023: $139,643; 2022: $142,940) 135,132 137,368
Investment securities, held-to-maturity (Fair value: 2023: $651; 2022: $636) 741 742
Property and equipment, net 4,547 5,753
Operating lease right-of-use assets 4,109 4,025
Goodwill and other intangible assets 20,000 20,000
Other assets, non-current 14,801 15,735
Total assets 1,453,589 808,620
Current liabilities    
Unpaid claims 141,258 141,947
Due to related parties, net 1,331 1,566
Non-Insurance performance year obligation, current 613,057 73,844
Non-Insurance payable 160,942 148,191
Accounts payable and accrued expenses 47,452 32,445
Accrued salaries and benefits 30,306 23,962
Deferred revenue 107,563 0
Operating lease liabilities 1,862 1,827
Premium deficiency reserve 5,430 7,239
Other liabilities, current 1,173 486
Total current liabilities 1,110,374 431,507
Long-term operating lease liabilities 3,908 4,033
Other liabilities, non-current 16,200 16,193
Total liabilities 1,130,482 451,733
Commitments and Contingencies (Note 14)
Stockholders' equity    
Additional paid-in capital 2,358,622 2,319,157
Accumulated other comprehensive loss (7,031) (9,374)
Accumulated deficit (2,019,039) (1,946,433)
Less: Treasury stock, at cost; 5,006,473 and 2,072,752 shares held at March 31, 2023 and December 31, 2022, respectively (9,491) (6,509)
Total stockholders' equity 323,107 356,887
Total liabilities and stockholders' equity 1,453,589 808,620
Common Class A    
Stockholders' equity    
Common stock, value 37 37
Common Class B    
Stockholders' equity    
Common stock, value $ 9 $ 9