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Summary of Significant Accounting Policies (Tables)
3 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Summary of Significant Customer Information

Significant customer information is as follows:

 

 

 

June 30,

 

 

March 31,

 

 

 

2022

 

 

2022

 

Percentage of accounts receivable:

 

 

 

 

 

 

Customer C

 

 

71

%

 

 

25

%

Customer F

 

 

14

%

 

 

19

%

Customer G

 

 

0

%

 

 

44

%

 

 

 

Three Months Ended June 30,

 

 

 

2022

 

 

2021

 

Percentage of revenue:

 

 

 

 

 

 

Customer C

 

 

15

%

 

 

14

%

Customer B

 

 

13

%

 

 

19

%

Summary Of Revenue By Category

The following table presents revenue by category:

 

 

 

Three Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

 

Amount

 

 

% of Revenue

 

 

Amount

 

 

% of Revenue

 

 

 

(in thousands, except percentages)

 

Point in Time

 

 

 

 

 

 

 

 

 

 

 

 

PGS

 

$

39,691

 

 

 

61

%

 

$

45,023

 

 

 

76

%

Telehealth (1)

 

 

9,361

 

 

 

15

%

 

 

 

 

 

0

%

Consumer services

 

 

49,052

 

 

 

76

%

 

 

45,023

 

 

 

76

%

Research services

 

 

 

 

 

0

%

 

 

 

 

 

0

%

Total (2)

 

 

49,052

 

 

 

76

%

 

 

45,023

 

 

 

76

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Over Time

 

 

 

 

 

 

 

 

 

 

 

 

PGS

 

 

4,484

 

 

 

7

%

 

 

2,827

 

 

 

5

%

Telehealth (1)

 

 

2,523

 

 

 

4

%

 

 

 

 

 

0

%

Consumer services

 

 

7,007

 

 

 

11

%

 

 

2,827

 

 

 

5

%

Research services

 

 

8,454

 

 

 

13

%

 

 

11,389

 

 

 

19

%

Total (2)

 

 

15,461

 

 

 

24

%

 

 

14,216

 

 

 

24

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

 

 

 

 

 

 

 

 

 

 

 

 

PGS

 

 

44,175

 

 

 

68

%

 

 

47,850

 

 

 

81

%

Telehealth (1)

 

 

11,884

 

 

 

19

%

 

 

 

 

 

0

%

Consumer services

 

 

56,059

 

 

 

87

%

 

 

47,850

 

 

 

81

%

Research services

 

 

8,454

 

 

 

13

%

 

 

11,389

 

 

 

19

%

Total (2)

 

$

64,513

 

 

 

100

%

 

$

59,239

 

 

 

100

%

 

(1) There was no telehealth revenue for the three months ended June 30, 2021, as the Lemonaid Acquisition closed in November 2021.

(2) There was no Therapeutics revenue for the three months ended June 30, 2022 and 2021.

Summary of Revenue by Region based on the Shipping Address of Customers

The following table summarizes revenue by region based on the shipping address of customers or the location where the services are delivered:

 

 

 

Three Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

 

Amount

 

 

% of Revenue

 

 

Amount

 

 

% of Revenue

 

 

 

(in thousands, except percentages)

 

United States

 

$

48,108

 

 

 

75

%

 

$

40,352

 

 

 

68

%

United Kingdom

 

 

11,975

 

 

 

19

%

 

 

13,906

 

 

 

23

%

Canada

 

 

3,039

 

 

 

4

%

 

 

3,240

 

 

 

6

%

Other regions

 

 

1,391

 

 

 

2

%

 

 

1,741

 

 

 

3

%

International

 

 

16,405

 

 

 

25

%

 

 

18,887

 

 

 

32

%

Total

 

$

64,513

 

 

 

100

%

 

$

59,239

 

 

 

100

%

Schedule Of Company Revenue and Adjusted EBITDA by Segment

The Company’s revenue and Adjusted EBITDA by segment is as follows:

 

 

 

Three Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Segment Revenue

 

 

 

 

 

 

Consumer and Research Services

 

$

64,513

 

 

$

59,239

 

Total Revenue (1)

 

$

64,513

 

 

$

59,239

 

Segment Adjusted EBITDA

 

 

 

 

 

 

Consumer and Research Services Adjusted EBITDA

 

$

(16,997

)

 

$

(505

)

Therapeutics Adjusted EBITDA

 

 

(18,465

)

 

 

(18,303

)

Unallocated Corporate(1)

 

 

(14,253

)

 

 

(8,467

)

Total Adjusted EBITDA

 

$

(49,715

)

 

$

(27,275

)

 

 

 

 

 

 

 

Reconciliation of net loss to Adjusted EBITDA

 

 

 

 

 

 

Net Loss

 

$

(89,532

)

 

$

(42,026

)

Adjustments

 

 

 

 

 

 

Interest (income) expense, net

 

 

(245

)

 

 

(44

)

Other (income) expense, net

 

 

435

 

 

 

(14

)

Change in fair value of warrant liabilities

 

 

 

 

 

534

 

Income tax benefit

 

 

(254

)

 

 

 

Depreciation and amortization

 

 

5,104

 

 

 

4,638

 

Amortization of acquired intangible assets

 

 

4,315

 

 

 

 

Stock-based compensation expense

 

 

30,462

 

 

 

9,637

 

Total Adjusted EBITDA

 

$

(49,715

)

 

$

(27,275

)

(1) There was no Therapeutics revenue for the three months ended June 30, 2022 and 2021.

Summary of Customers Accounting for 10% or More of Segment Revenues

Customers accounting for 10% or more of segment revenues were as follows:

 

 

 

Three Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

 

(in thousands, except percentages)

 

Consumer and Research Services Segment Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Customer C(1)

 

$

9,628

 

 

 

15

%

 

$

8,512

 

 

 

14

%

Customer B(2)

 

$

8,246

 

 

 

13

%

 

$

11,209

 

 

 

19

%

 

 

(1)
Customer C revenues are primarily in the United States.
(2)
Customer B revenues are in the U.K.