| Disaggregation of Revenue |
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
|
|
|
| Summary of Information about Receivables, Contract Assets, and Contract Liabilities and Changes in Contract Liabilities |
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 |
|
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
|
|
The table below shows significant changes in contract assets for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2023 |
|
As of December 31, 2022 |
| (in thousands) |
$ |
|
$ |
Balance at January 1 |
6,112 |
|
|
4,484 |
|
Revenues recognized but not billed |
7,376 |
|
|
4,478 |
|
Amounts reclassified to trade receivable |
(5,068) |
|
|
(1,914) |
|
| Amounts transferred to assets held for sale |
(21) |
|
|
(936) |
|
| Effect of movement in foreign exchange |
134 |
|
|
— |
|
Contract assets |
8,533
|
|
|
6,112
|
|
|
| Summary of 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 |
|
|