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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net Loss $ (128,071) $ (148,173) $ (149,639)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Provision for credit loss 123 91 150
(Gain) loss on right of use assets 143 (289) 510
Gain on sale of property and equipment (9) 0 0
Depreciation and amortization 27,062 21,668 17,486
Amortization-debt issuance costs 1,293 1,254 1,850
Amortization-investment discount (2,579) (4,917) 0
Amortization of payment-in-kind interest 0 0 2,943
Loss on disposal of property and equipment 0 0 101
Equity-based compensation 71,132 66,835 81,718
Non-cash lease expense 1,764 2,318 2,811
Loss on extinguishment of debt 3,020 0 2,196
Changes in operating assets and liabilities:      
Accounts receivable (34,278) (26,950) (34,377)
Prepaid expenses and other current assets 7,887 (2,863) (14,356)
Other assets 60 (142) (86)
Medical expenses payable 84,389 35,264 44,250
Accounts payable and accrued expenses (1,460) (6,347) 13,743
Accrued compensation 5,819 6,574 3,609
Lease liabilities (1,525) (3,510) (4,214)
Payment-in-kind interest 0 0 (14,122)
Net cash provided by (used in) operating activities 34,770 (59,187) (45,427)
Investing Activities:      
Purchase of business, net of cash received 0 0 (4,043)
Purchase of investments (82,200) (379,058) (2,825)
Sale of property and equipment 14 0 0
Maturities of investments 162,795 267,790 2,425
Acquisition of property and equipment (41,418) (35,995) (23,774)
Net cash provided by (used in) investing activities 39,191 (147,263) (28,217)
Financing Activities:      
Repurchase of noncontrolling interest 0 0 (100)
Proceeds from long-term debt 380,000 0 165,000
Debt issuance costs (8,792) 0 (5,196)
Repayment of long-term debt (215,000) 0 (143,179)
Payment of employment taxes related to release of restricted stock (350) 0 0
Proceeds from exercise of stock options 155 0 0
Contributions from noncontrolling interest holders 15 105 68
Net cash provided by financing activities 156,028 105 16,593
Net increase (decrease) in cash 229,989 (206,345) (57,051)
Cash, cash equivalents and restricted cash at beginning of period 204,954 411,299 468,350
Cash, cash equivalents and restricted cash at end of period 434,943 204,954 411,299
Supplemental disclosure of cash flow information:      
Cash paid for interest 22,157 19,165 22,447
Supplemental non-cash investing and financing activities:      
Acquisition of property in accounts payable 70 59 47
Purchase of business in accounts payable 0 0 505
Debt issuance costs in accounts payable 512 0 0
Reconciliation of cash, cash equivalents and restricted cash as shown in the statement of cash flows:      
Cash and cash equivalents 432,859 202,904 409,549
Restricted cash in other assets 2,084 2,050 1,750
Total $ 434,943 $ 204,954 $ 411,299