XML 17 R4.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Premiums earned, net (Net of ceded premiums of $122 and $119, for the three months ended March 31, 2023 and 2022, respectively) $ 317,086 $ 278,169
Non-Insurance revenue 205,783 594,898
Other income 4,906 1,312
Total revenues 527,775 874,379
Operating expenses:    
Net medical claims incurred 472,490 861,722
Salaries and benefits 70,207 69,091
General and administrative expenses 59,215 57,697
Premium deficiency reserve benefit (1,810) (27,476)
Depreciation and amortization 279 826
Total operating expenses 600,381 961,860
Loss from operations (72,606) (87,481)
Interest expense 0 403
Gain on investment 0 (12,394)
Net loss $ (72,606) $ (75,490)
Per share data:    
Net loss per share attributable to Class A and Class B common stockholders - basic (in dollars per share) [1] $ (0.15) $ (0.16)
Net loss per share attributable to Class A and Class B common stockholders - diluted (in dollars per share) [1] $ (0.15) $ (0.16)
Weighted average number of common shares outstanding    
Basic weighted average number of Class A and Class B common shares and common share equivalents outstanding (in shares) [1] 478,805,067 473,028,651
Diluted weighted average number of Class A and Class B common shares and common share equivalents outstanding (in shares) [1] 478,805,067 473,028,651
Net unrealized gain (loss) on available-for-sale investments $ 2,343 $ (5,324)
Comprehensive loss $ (70,263) $ (80,814)
[1] (1) Because the Company had a net loss during the three months ended March 31, 2023 and 2022, the Company's potentially dilutive securities, which include stock options, restricted stock, preferred stock, and warrants to purchase shares of common stock and preferred stock, have been excluded from the computation of diluted net loss per share, as the effect would be anti-dilutive.