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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue        
Total revenue $ 58,892 $ 29,762 $ 164,025 $ 69,259
Cost of services 6,380 2,496 13,882 6,818
Gross profit 52,512 27,266 150,143 62,441
Operating expenses        
General and administrative 7,197 5,015 23,790 23,233
Selling and marketing 3,308 2,118 8,659 5,491
Research and development 1,268 579 2,632 1,286
Operating income 40,739 19,554 115,062 32,431
Interest expense (959) (3,572) (5,370) (7,980)
Interest income 35 36 177 97
Gain on extinguishment of tax receivable agreement 0 0 55,422 0
Loss on extinguishment of debt 0 0 (8,778) 0
Change in fair value of contingent consideration 0 (83,130) 0 (131,932)
Other income (expense) 3 0 (130) 3
Income (loss) before income taxes 39,818 (67,112) 156,383 (107,381)
Provision for income taxes 10,404 4,021 38,141 5,385
Net income (loss) and comprehensive income (loss) 29,414 (71,133) 118,242 (112,766)
Preferred distribution to redeemable convertible Series C preferred units 0 0 0 (40,689)
Accretion to redemption value of redeemable convertible Series C preferred units 0 0 0 47,537
Net income (loss) attributable to common stockholders $ 29,414 $ (71,133) $ 118,242 $ (105,918)
Net income (loss) and comprehensive income (loss) per common share        
Basic (in dollars per share) $ 0.23 $ (0.62) $ 0.94 $ (1.56)
Diluted (in dollars per share) $ 0.23 $ (0.62) $ 0.94 $ (1.56)
Weighted average common shares outstanding        
Basic (in shares) 126,190,351 115,189,532 126,405,822 67,828,046
Diluted (in shares) 126,247,499 115,189,532 126,451,119 67,828,046
Program fees        
Revenue        
Total revenue $ 21,638 $ 10,087 $ 57,146 $ 31,592
Profit share        
Revenue        
Total revenue 35,447 18,544 102,019 34,482
Claims administration and other service fees        
Revenue        
Total revenue $ 1,807 $ 1,131 $ 4,860 $ 3,185