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Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net Revenues $ 84,978 $ 83,084 $ 165,408 $ 164,183
Cost of revenues (note 10)        
Direct cost of revenues 50,743 49,300 100,033 98,721
Network, other costs 6,993 4,764 13,316 8,944
Network, depreciation of property and equipment 8,757 6,589 17,193 12,484
Network, amortization of intangible assets (note 5) 379 378 757 756
Network, impairment of property and equipment 74 0 2,016 27
Total cost of revenues 66,946 61,031 133,315 120,932
Gross profit 18,032 22,053 32,093 43,251
Expenses:        
Sales and marketing 16,020 13,503 31,757 25,490
Technical operations and development 4,581 3,465 9,396 7,230
General and administrative 8,084 6,814 16,275 14,110
Depreciation of property and equipment 150 146 302 294
Loss on disposition of property and equipment 0 95 0 480
Amortization of intangible assets (note 5) 2,230 2,465 4,724 4,930
Loss (gain) on currency forward contracts (note 4) 68 0 23 0
Total expenses 31,133 26,488 62,477 52,534
Loss from operations (13,101) (4,435) (30,384) (9,283)
Other income (expenses):        
Interest expense, net (10,501) (2,422) (18,381) (4,217)
Loss on debt extinguishment (note 18) (14,680) 0 (14,680) 0
Income earned on sale of transferred assets, net (note 17) 4,289 4,520 8,659 9,272
Other expense, net 0 (50) 0 (100)
Total other income (expenses) (20,892) 2,048 (24,402) 4,955
Loss before provision for income taxes (33,993) (2,387) (54,786) (4,328)
Provision for income taxes (note 8) (3,025) 738 (4,735) 1,817
Net loss before redeemable non-controlling interest (30,968) (3,125) (50,051) (6,145)
Other comprehensive income (loss), net of tax        
Unrealized income (loss) on hedging activities (note 4) 578 195 646 1,163
Net amount reclassified to earnings (note 4) (390) (74) (626) (8)
Other comprehensive income (loss) net of tax expense (recovery) of $59 and $40 for the three months ended June 30, 2023 and June 30, 2022, $7 and $369 for the six months ended June 30, 2023 and June 30, 2022 (note 4) 188 121 20 1,155
Comprehensive loss, for the period $ (30,780) $ (3,004) $ (50,031) $ (4,990)
Basic and diluted loss per common share (note 9) (in dollars per share) $ (2.86) $ (0.29) $ (4.63) $ (0.57)
Shares used in computing basic and diluted loss per common share (note 9) (in shares) 10,836,652 10,765,595 10,821,608 10,758,691