2023 Q2 Form 10-Q Financial Statement

#000186639023000089 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.28M $275.0M
YoY Change -90.81% 85830.63%
Cash & Equivalents $25.58M $275.0M
Short-Term Investments $0.00
Other Short-Term Assets $127.5M $27.43M
YoY Change 364.82% 2370.72%
Inventory
Prepaid Expenses $9.871M
Receivables $15.40M $27.98M
Other Receivables $6.387M $0.00
Total Short-Term Assets $183.1M $330.4M
YoY Change -44.58% 23003.78%
LONG-TERM ASSETS
Property, Plant & Equipment $12.04M $45.71M
YoY Change -73.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $24.91M $252.2M
YoY Change -90.12% -26.9%
TOTAL ASSETS
Total Short-Term Assets $183.1M $330.4M
Total Long-Term Assets $24.91M $252.2M
Total Assets $208.0M $582.6M
YoY Change -64.3% 68.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.893M $25.20M
YoY Change -76.61%
Accrued Expenses $39.30M $37.89M
YoY Change 3.73% 10139.46%
Deferred Revenue $19.09M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.301M
YoY Change
Total Short-Term Liabilities $171.6M $149.8M
YoY Change 14.5% 40399.46%
LONG-TERM LIABILITIES
Long-Term Debt $295.4M $282.3M
YoY Change 4.66%
Other Long-Term Liabilities $56.03M $63.76M
YoY Change -12.14% 103.91%
Total Long-Term Liabilities $295.4M $346.0M
YoY Change -14.62% 1006.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $171.6M $149.8M
Total Long-Term Liabilities $295.4M $346.0M
Total Liabilities $523.1M $503.0M
YoY Change 3.98% 1489.91%
SHAREHOLDERS EQUITY
Retained Earnings -$900.0M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$315.1M $79.53M
YoY Change
Total Liabilities & Shareholders Equity $208.0M $582.6M
YoY Change -64.3% 68.16%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Facts In Submission

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CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
372000 usd
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2613000 usd
CY2023Q1 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
516000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
144000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2613000 usd
CY2023Q1 bbln Proceeds From Issuance Of Long Term Debt And Derivative Instrument
ProceedsFromIssuanceOfLongTermDebtAndDerivativeInstrument
22000000 usd
CY2022Q1 bbln Proceeds From Issuance Of Long Term Debt And Derivative Instrument
ProceedsFromIssuanceOfLongTermDebtAndDerivativeInstrument
100000000 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3153000 usd
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4000000 usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1002000 usd
CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
42000 usd
CY2022Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1538000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18889000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
93460000 usd
CY2023Q1 bbln Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
-19373000 usd
CY2022Q1 bbln Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
12365000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43475000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
262581000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1480000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25582000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
274978000 usd
CY2023Q1 us-gaap Stock Issued1
StockIssued1
772000 usd
CY2022Q1 us-gaap Stock Issued1
StockIssued1
0 usd
CY2023Q1 bbln Interest Incurred But Not Yet Paid
InterestIncurredButNotYetPaid
6413000 usd
CY2022Q1 bbln Interest Incurred But Not Yet Paid
InterestIncurredButNotYetPaid
3978000 usd
CY2023Q1 bbln Noncash Or Part Noncash Divestiture Amount Of Consideration To Be Received
NoncashOrPartNoncashDivestitureAmountOfConsiderationToBeReceived
250000 usd
CY2022Q1 bbln Noncash Or Part Noncash Divestiture Amount Of Consideration To Be Received
NoncashOrPartNoncashDivestitureAmountOfConsiderationToBeReceived
0 usd
CY2023Q1 bbln Fair Value Of Derivative Instrument Warrants
FairValueOfDerivativeInstrumentWarrants
0 usd
CY2022Q1 bbln Fair Value Of Derivative Instrument Warrants
FairValueOfDerivativeInstrumentWarrants
-3418000 usd
CY2023Q1 bbln Debt And Equity Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtAndEquityIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
1403000 usd
CY2022Q1 bbln Debt And Equity Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtAndEquityIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 usd
CY2023Q1 bbln Equity Value Of Consideration Given In Debt Instrument
EquityValueOfConsiderationGivenInDebtInstrument
1804000 usd
CY2022Q1 bbln Equity Value Of Consideration Given In Debt Instrument
EquityValueOfConsiderationGivenInDebtInstrument
0 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#1fbfbb;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience, current business and economic factors, and various other assumptions that the Company believes are necessary to form a basis for making judgments about the carrying values of assets and liabilities, the recorded amounts of revenue and expenses, and the disclosure of contingent assets and liabilities. The Company is subject to uncertainties such as the impact of future events, economic and political factors, and changes in the Company’s business environment; therefore, actual results could differ from these estimates. Accordingly, the accounting estimates used in the preparation of the Company’s consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment evolves. The Company believes that estimates used in the preparation of these Unaudited Condensed Consolidated Financial Statements are reasonable; however, actual results could differ materially from these estimates.</span></div>Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in the Consolidated Statement of Operations and Other Comprehensive Loss, and if material, are also disclosed in the Notes to Consolidated Financial Statements. Estimates that involve a significant level of estimation uncertainty and reasonably likely to have a material impact on the Consolidated Financial Statements of the Company include our impairment analyses over the carrying value of long-lived assets (including goodwill and intangible assets), certain assumptions for revenue recognition, the accounting for premium deficiency reserves, incurred but not reported (“IBNR”) amounts within claims expense, and the accounting for business combinations. Other policies that use estimates include the accounting for financial instruments and the accounting for stock-based compensation awards.
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
300000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
300000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-63200000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-29100000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-315100000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-255900000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
77700000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
104500000 usd
CY2021Q4 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
229300000 usd
CY2022Q4 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
80000000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
311120000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
266446000 usd
CY2023Q1 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Current
ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent
15404000 usd
CY2022Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Current
ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent
15524000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
8533000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
6112000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
61884000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
64870000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14713000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
17731000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
16358000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
7207000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5874000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
61884000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
64870000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
94182000 usd
CY2023Q1 bbln Contract With Customer Liability Billed But Not Yet Recognized
ContractWithCustomerLiabilityBilledButNotYetRecognized
271000 usd
CY2022 bbln Contract With Customer Liability Billed But Not Yet Recognized
ContractWithCustomerLiabilityBilledButNotYetRecognized
2696000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4674000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21503000 usd
CY2023Q1 bbln Contract With Customer Liability Foreign Exchange Effect
ContractWithCustomerLiabilityForeignExchangeEffect
-1460000 usd
CY2022 bbln Contract With Customer Liability Foreign Exchange Effect
ContractWithCustomerLiabilityForeignExchangeEffect
9774000 usd
CY2023Q1 bbln Contract With Customer Liability Transferred To Liability Held For Sale
ContractWithCustomerLiabilityTransferredToLiabilityHeldForSale
43000 usd
CY2022 bbln Contract With Customer Liability Transferred To Liability Held For Sale
ContractWithCustomerLiabilityTransferredToLiabilityHeldForSale
731000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
61884000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
64870000 usd
CY2023Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
0 usd
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
311120000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
266446000 usd
CY2023Q1 us-gaap Noncurrent Assets
NoncurrentAssets
24909000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
25985000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12039000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12658000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
1200000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
1700000 usd
CY2023Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
400000 usd
CY2023Q1 bbln Property Plant And Equipment Additions Foreign Currency Gain Loss
PropertyPlantAndEquipmentAdditionsForeignCurrencyGainLoss
200000 usd
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
15519000 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
17635000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
115000 usd
CY2022Q4 bbln Prepayments And Contract Assets Current
PrepaymentsAndContractAssetsCurrent
18349000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2111000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
15404000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
15524000 usd
CY2023Q1 bbln Other Miscellaneous Receivables Current
OtherMiscellaneousReceivablesCurrent
4523000 usd
CY2022Q4 bbln Other Miscellaneous Receivables Current
OtherMiscellaneousReceivablesCurrent
7205000 usd
CY2023Q1 us-gaap Security Deposit
SecurityDeposit
8510000 usd
CY2022Q4 us-gaap Security Deposit
SecurityDeposit
8481000 usd
CY2023Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
1864000 usd
CY2022Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
1816000 usd
CY2023Q1 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
14897000 usd
CY2022Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
17502000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
9871000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
12237000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
8533000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
6112000 usd
CY2023Q1 bbln Prepayments And Contract Assets Current
PrepaymentsAndContractAssetsCurrent
18404000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
6112000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
4484000 usd
CY2023Q1 bbln Contract With Customer Asset Revenue Recognized On Contracts Not Billed
ContractWithCustomerAssetRevenueRecognizedOnContractsNotBilled
7376000 usd
CY2022 bbln Contract With Customer Asset Revenue Recognized On Contracts Not Billed
ContractWithCustomerAssetRevenueRecognizedOnContractsNotBilled
4478000 usd
CY2023Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
5068000 usd
CY2022 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
1914000 usd
CY2023Q1 bbln Contract With Customer Asset Transferred To Assets Held For Sale
ContractWithCustomerAssetTransferredToAssetsHeldForSale
21000 usd
CY2022 bbln Contract With Customer Asset Transferred To Assets Held For Sale
ContractWithCustomerAssetTransferredToAssetsHeldForSale
936000 usd
CY2023Q1 bbln Contract With Customer Asset Foreign Currency Effect
ContractWithCustomerAssetForeignCurrencyEffect
134000 usd
CY2022 bbln Contract With Customer Asset Foreign Currency Effect
ContractWithCustomerAssetForeignCurrencyEffect
0 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
8533000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
6112000 usd
CY2023Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
5893000 usd
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
9600000 usd
CY2023Q1 bbln Taxation And Social Security Payable Current
TaxationAndSocialSecurityPayableCurrent
2379000 usd
CY2022Q4 bbln Taxation And Social Security Payable Current
TaxationAndSocialSecurityPayableCurrent
4839000 usd
CY2023Q1 bbln Other Miscellaneous Payables Current
OtherMiscellaneousPayablesCurrent
1667000 usd
CY2022Q4 bbln Other Miscellaneous Payables Current
OtherMiscellaneousPayablesCurrent
0 usd
CY2023Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
4046000 usd
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
4839000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
39299000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28878000 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
701000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1151000 usd
CY2023Q1 bbln Accruals Liabilities And Other Liabilities Current
AccrualsLiabilitiesAndOtherLiabilitiesCurrent
40000000 usd
CY2022Q4 bbln Accruals Liabilities And Other Liabilities Current
AccrualsLiabilitiesAndOtherLiabilitiesCurrent
30029000 usd
CY2023Q1 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table is a summary of claims activity: </span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.627%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.233%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.406%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.234%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt 0 5.57pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of March 31, 2023</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, 2022</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(in thousands)</span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at January 1</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8,475</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">24,628</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Claims incurred, net</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">283,906 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,017,003 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Claims settled</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(279,434)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(991,506)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Claims payable transferred to liabilities held for sale</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,667)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(41,650)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Claims payable</span></td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">9,280</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8,475</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
8475000 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
24628000 usd
CY2023Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
283906000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1017003000 usd
CY2023Q1 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
279434000 usd
CY2022 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
991506000 usd
CY2023Q1 bbln Liability For Unpaid Claims And Claims Adjustment Expense Transferred To Liabilities Held For Sale
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseTransferredToLiabilitiesHeldForSale
3667000 usd
CY2022 bbln Liability For Unpaid Claims And Claims Adjustment Expense Transferred To Liabilities Held For Sale
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseTransferredToLiabilitiesHeldForSale
41650000 usd
CY2023Q1 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
9280000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
-4723000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
8475000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
43201000 usd
CY2022Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
32438000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
295449000 usd
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
278028000 usd
CY2022Q1 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
0 usd
CY2023Q1 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
0 usd
CY2023Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
10200000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3900000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2167000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9174000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.76
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
368069 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M25D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.01
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5792 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
40000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
21.04
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
43388 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.96
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
318889 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y2M4D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
-4846000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
19.43
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
302031 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y8M1D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
-4427000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1500000 usd
CY2022Q4 bbln Derivative Instrument Liability Shares
DerivativeInstrumentLiabilityShares
105000 shares
CY2023Q1 bbln Derivative Instrument Liability Warrants Exchanged
DerivativeInstrumentLiabilityWarrantsExchanged
105000 shares
CY2023Q1 bbln Derivative Instrument Liability Shares
DerivativeInstrumentLiabilityShares
0 shares
CY2023Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
252000 usd
CY2022Q4 bbln Fair Value Measurement With Observable And Unobservable Inputs Reconciliation Recurring Basis Liability Value
FairValueMeasurementWithObservableAndUnobservableInputsReconciliationRecurringBasisLiabilityValue
1378000 usd
CY2023Q1 bbln Fair Value Measurement With Observable And Unobservable Inputs Reconciliation Recurring Basis Liability Remeasurement Prior To Settlements
FairValueMeasurementWithObservableAndUnobservableInputsReconciliationRecurringBasisLiabilityRemeasurementPriorToSettlements
-60000 usd
CY2023Q1 bbln Fair Value Measurement With Observable And Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithObservableAndUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
771000 usd
CY2023Q1 bbln Fair Value Measurement With Observable And Unobservable Inputs Reconciliation Recurring Basis Liability Remeasurement After Settlements
FairValueMeasurementWithObservableAndUnobservableInputsReconciliationRecurringBasisLiabilityRemeasurementAfterSettlements
415000 usd
CY2023Q1 bbln Fair Value Measurement With Observable And Unobservable Inputs Reconciliation Recurring Basis Liability Value
FairValueMeasurementWithObservableAndUnobservableInputsReconciliationRecurringBasisLiabilityValue
252000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-63229000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-63229000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-29100000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-29100000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25025645 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25025645 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17038663 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17038663 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.53
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.53
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.71
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.71

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