Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Operations and Other Comprehensive Loss

v3.22.4
Consolidated Statement of Operations and Other Comprehensive Loss - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]      
Revenue $ 1,109,669 $ 320,827 $ 79,272
Claims expense (1,017,003) (219,625) (25,120)
Clinical care delivery expense (80,624) (69,831) (42,134)
Platform & application expenses (29,897) (32,723) (32,209)
Research & development expenses (79,155) (68,473) (80,538)
Sales, general & administrative expenses (227,937) (187,172) (90,687)
Premium deficiency reserve income / (expense) 31,311 (46,533) (5,639)
Impairment expense (64,066) 0 0
Depreciation and amortization expenses (12,050) (9,185) (3,955)
Loss from operations (369,752) (312,715) (201,010)
Interest expense (32,736) (13,047) (4,029)
Interest income 1,041 325 610
Gain on fair value remeasurement [1] 192,749 239,195 0
Loss on settlement of warrants (2,397) 0 0
Exchange (loss) / gain (10,420) 783 (2,836)
Gain on sale of subsidiary 0 3,917 0
Share of net loss on equity method investments 0 (3,339) (1,124)
Net loss from operations before income taxes (221,515) (84,881) (208,389)
Tax benefit / (provision) 66 1,443 (4,639)
Net loss (221,449) (83,438) (213,028)
Other comprehensive loss      
Currency translation differences 7,080 (564) 3,580
Other comprehensive gain / (loss), net of income tax 7,080 (564) 3,580
Total comprehensive loss (214,369) (84,002) (209,448)
Total comprehensive loss attributable to:      
Equity holders of the parent (221,449) (77,409) (211,797)
Non-controlling interest 0 (6,029) (1,231)
Equity including non-controlling interest (221,449) (83,438) (213,028)
Total comprehensive loss attributable to:      
Equity holders of the parent (214,369) (77,973) (208,217)
Non-controlling interest 0 (6,029) (1,231)
Total comprehensive loss $ (214,369) $ (84,002) $ (209,448)
Net loss per share      
Net loss per share, basic, from continuing operations (in dollars per share) [2] $ (12.01) $ (6.93) $ (21.80)
Net loss per share, diluted, from continuing operations (in dollars per share) [2] $ (12.01) $ (6.93) $ (21.80)
Weighted average shares outstanding, basic (in shares) [2] 18,439,104 11,169,203 9,717,434
Weighted average shares outstanding, diluted (in shares) [2] 18,439,104 11,169,203 9,717,434
[1] Gain / (loss) on fair value remeasurement includes Gain / (loss) on warrant liabilities of $18.2 million (2021: $27.8 million, 2020: zero) and Gain / (loss) on earnout liabilities of $174.3 million (2021: $206.7 million, 2020: zero). See Note 20 for more details. Within Gain / (loss) on fair value measurement for the year ended December 31, 2021 includes a gain of $4.6 million for the fair value remeasurement of existing equity interest in Higi upon acquisition. See Note 4 for more details.
[2] Net loss per share, basic and diluted, is calculated from Net loss attributable to the equity holders of the parent and is the same for both Class A ordinary shares and Class B ordinary shares. See Note 23 for details.