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Revenue (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Summary of Contract Assets

Contract assets balances for the periods indicated below were as follows:

		Contract Assets
		Profit Share				TPA Fee				Program Fee				Total
		(in thousands)
Beginning balance as of January 1, 2019		$	37,734			$	438			$	3,088			$	41,260
Increase of contract assets due to new business generation			48,181				3,142				36,667				87,990
Adjustment of contract assets due to estimation of revenue from performance obligations satisfied in previous periods			4,857				—				—				4,857
Receivables transferred from contract assets upon billing the lending institutions			—				—				(34,746	)			(34,746	)
Payments received from insurance carriers			(33,405	)			(3,005	)			—				(36,410	)
Ending balance as of December 31, 2019			57,367				575				5,009				62,951
Increase of contract assets due to new business generation			62,032				4,505				43,995				110,532
Adjustment of contract assets due to estimation of revenue from performance obligations satisfied in previous periods			(1,640	)			—				—				(1,640	)
Receivables transferred from contract assets upon billing the lending institutions			—				—				(43,661	)			(43,661	)
Payments received from insurance carriers			(34,582	)			(4,258	)			—				(38,840	)
Ending balance as of December 31, 2020		$	83,177			$	822			$	5,343			$	89,342

Accounting Standards Update and Change in Accounting Principle

As a result of the modified retrospective method, the following adjustments were made to the consolidated balance sheet as shown in the below selected condensed consolidated balance sheet line items as of January 1, 2019.

		Ending Balance as of December 31, 2018				Adjustments due to ASC 606				Opening Balance as of January 1, 2019
		(in thousands)
Assets
Current assets		$	24,455			$	9,847			$	34,302
Non-current assets			429				22,921				23,349
Liabilities
Current liabilities			13,845				—				13,844
Non-current liabilities			3,313				—				3,313
Equity
Accumulated deficit		$	(139,810	)		$	32,768			$	(107,042	)

 The following table compares net revenue for the periods presented to the pro forma amounts had the previous ASC 605 guidance been in effect for the year ended December 31, 2019:

		Year ended December 31, 2019
		Balances without new revenue standard				Effect of change				As reported
		(in thousands)
Program fee		$	36,667			$	—			$	36,667
Profit share			33,807				19,231				53,038
Claims administration service fee			3,142				—				3,142
Total revenue, net		$	73,616			$	19,231			$	92,847

		Year ended December 31, 2019
		Pro forma as if ASC 605 was in effect				Effect of change				As reported
		(in thousands)
Assets
Unbilled revenue		$	10,793			$	(10,793	)		$	—
Current contract assets			—				29,782				29,782
Total current assets			10,793				18,989				29,782
Non-current contract assets			—				33,169				33,169
Total		$	10,793			$	52,158			$	62,951

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

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Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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