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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 136,941 $ 188,231
Restricted cash and equivalents 1,682 5,629
Marketable securities 230,143 211,737
Receivables, net 1,239,603 1,017,040
Prepaid expenses and other current assets, net 42,353 35,137
Total current assets 1,650,722 1,457,774
Property and equipment, net 28,088 28,169
Intangible assets, net 68,187 72,771
Goodwill 24,133 24,133
Other assets 161,731 151,136
Total assets 1,932,861 1,733,983
Current liabilities:    
Medical claims and related payables 1,113,084 931,664
Accounts payable and accrued expenses 226,693 220,342
Current debt 34,924 0
Total current liabilities 1,374,701 1,152,006
Long-term debt 0 34,904
Other liabilities 57,906 76,121
Total liabilities 1,432,607 1,263,031
Commitments and contingencies
Stockholders' equity (deficit):    
Common stock, $0.01 par value: 2,000,000 shares authorized; 413,023 and 412,194 shares issued and outstanding, respectively 4,130 4,122
Additional paid-in capital 2,070,446 2,053,895
Accumulated deficit (1,574,865) (1,586,977)
Accumulated other comprehensive income (loss) 543 (88)
Total stockholders’ equity (deficit) 500,254 470,952
Total liabilities and stockholders’ equity (deficit) $ 1,932,861 $ 1,733,983