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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue      
Total revenue $ 117,460 $ 179,594 $ 215,655
Cost of services 22,282 19,968 18,621
Gross profit 95,178 159,626 197,034
Operating expenses      
General and administrative 43,043 35,950 30,393
Selling and marketing 17,485 17,856 12,000
Research and development 5,575 8,205 4,352
Total operating expenses 66,103 62,011 46,745
Operating income 29,075 97,615 150,289
Interest expense (10,661) (5,832) (5,859)
Interest income 10,335 1,995 213
Gain on extinguishment of tax receivable agreement 0 0 55,422
Loss on extinguishment of debt 0 0 (8,778)
Other expense, net 109 (238) (119)
Income before income taxes 28,858 93,540 191,168
Income tax expense 6,788 26,920 45,086
Net income $ 22,070 $ 66,620 $ 146,082
Net income per common share      
Basic (in dollars per share) $ 0.18 $ 0.53 $ 1.16
Diluted (in dollars per share) $ 0.18 $ 0.53 $ 1.16
Weighted average common shares outstanding      
Basic (in shares) 120,826,644 126,108,329 126,354,597
Diluted (in shares) 121,474,880 126,261,614 126,390,435
Profit share      
Revenue      
Total revenue $ 43,301 $ 90,056 $ 133,215
Program fees      
Revenue      
Total revenue 64,092 80,611 75,630
Claims administration and other service fees      
Revenue      
Total revenue $ 10,067 $ 8,927 $ 6,810