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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue        
Total revenue $ 50,661 $ 58,892 $ 152,773 $ 164,025
Cost of services 5,199 6,380 15,072 13,882
Gross profit 45,462 52,512 137,701 150,143
Operating expenses        
General and administrative 9,335 7,197 24,785 23,790
Selling and marketing 5,981 3,308 13,708 8,659
Research and development 2,355 1,268 6,366 2,632
Total operating expenses 17,671 11,773 44,859 35,081
Operating income 27,791 40,739 92,842 115,062
Interest expense (1,608) (959) (3,535) (5,370)
Interest income 321 35 368 177
Gain on extinguishment of tax receivable agreement 0 0 0 55,422
Loss on extinguishment of debt 0 0 0 (8,778)
Other income (expense) (239) 3 (239) (130)
Income before income taxes 26,265 39,818 89,436 156,383
Income tax expense 1,736 10,404 18,627 38,141
Net income $ 24,529 $ 29,414 $ 70,809 $ 118,242
Net income per common share        
Basic (in dollars per share) $ 0.19 $ 0.23 $ 0.56 $ 0.94
Diluted (in dollars per share) $ 0.19 $ 0.23 $ 0.56 $ 0.94
Weighted average common shares outstanding        
Basic (in shares) 126,228,723 126,190,351 126,222,084 126,405,822
Diluted (in shares) 126,228,723 126,247,499 126,222,415 126,451,119
Profit share        
Revenue        
Total revenue $ 26,523 $ 35,447 $ 83,990 $ 102,019
Program fees        
Revenue        
Total revenue 21,845 21,638 62,302 57,146
Claims administration and other service fees        
Revenue        
Total revenue $ 2,293 $ 1,807 $ 6,481 $ 4,860