Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.23.1
Revenue
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue
5.    Revenue
i)Disaggregation of Revenue

Revenue is primarily derived from the following sources: (1) capitation revenue from value-based care services, (2) patient revenues from the provision of clinical services, and (3) software license fees for the provision of AI services.

The following table presents revenue by sources:
For the Three Months Ended March 31,
2023 2022
(in thousands) $ $
Value-based care
 287,465  246,575 
Clinical services
 17,108  12,115 
Software licensing 6,547  7,756 
Revenue 311,120  266,446 

The following table presents revenue by healthcare services provided under our value-based care arrangements:
For the Three Months Ended March 31,
2023 2022
(in thousands) $ $
Medicaid 118,060  149,045 
Medicare 111,277  87,564 
Other 58,128  9,966 
Value-based care 287,465  246,575 

ii)Contract Balances
The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.
As of March 31, 2023
As of December 31, 2022
(in thousands) $ $
Trade receivables, net (Note 9)
 15,404  15,524 
Contract assets (Note 9)
 8,533  6,112 
Contract liabilities (Note 5 iii)
 61,884  64,870 
iii)Transaction Price Allocated to the Remaining Performance Obligations
The following table includes revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the reporting date:
Remainder of 2023 2024 2025 2026
2027
and
beyond
Total
(in thousands) $ $ $ $ $ $
As of March 31, 2023
 14,713  17,731  16,358  7,207  5,874  61,884 
The table below shows significant changes in contract liabilities:
For the Three Months Ended March 31, 2023
For the Year Ended December 31, 2022
(in thousands) $ $
Balance on January 1
 64,870  94,182 
Amounts billed but not recognized
 271  2,696 
Revenue recognized
 (4,674) (21,503)
Effect of movement in foreign exchange
1,460  (9,774)
Transferred to liability held for sale (43) (731)
Contract liabilities
 61,884  64,870 
No revenue was recognized from performance obligations satisfied (or partially satisfied) in previous periods.