XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net Revenues $ 86,971 $ 78,050 $ 252,379 $ 242,233
Cost of revenues (note 10)        
Direct cost of revenues 50,717 48,302 150,750 147,023
Network, other costs 7,322 4,244 20,638 13,188
Network, depreciation of property and equipment 9,138 7,136 26,331 19,620
Network, amortization of intangible assets (note 5) 378 378 1,135 1,134
Network, impairment of property and equipment 2,663 3 4,679 30
Total cost of revenues 70,218 60,063 203,533 180,995
Gross profit 16,753 17,987 48,846 61,238
Expenses:        
Sales and marketing 17,295 13,894 49,052 39,384
Technical operations and development 4,818 2,983 14,214 10,212
General and administrative 9,399 7,897 25,674 22,006
Depreciation of property and equipment 137 149 439 443
Loss (gain) on disposition of property and equipment 0 (19) 0 461
Amortization of intangible assets (note 5) 2,242 2,464 6,966 7,394
Loss (gain) on currency forward contracts (note 4) 29 0 52 0
Total expenses 33,920 27,368 96,397 79,900
Loss from operations (17,167) (9,381) (47,551) (18,662)
Other income (expenses):        
Interest expense, net (10,739) (4,337) (29,120) (8,555)
Loss on debt extinguishment (note 18) 0 0 (14,680) 0
Income earned on sale of transferred assets, net (note 17) 4,312 4,737 12,971 14,009
Other expense, net 0 (27) 0 (128)
Total other income (expenses) (6,427) 373 (30,829) 5,326
Loss before provision for income taxes (23,594) (9,008) (78,380) (13,336)
Provision (recovery) for income taxes (note 8) (822) (1,027) (5,557) 790
Net loss for the period (22,772) (7,981) (72,823) (14,126)
Other comprehensive income (loss), net of tax        
Unrealized income (loss) on hedging activities (note 4) (483) (1,674) 163 (510)
Net amount reclassified to earnings (note 4) (181) (100) (807) (109)
Other comprehensive loss net of tax recovery of ($211) and ($566) for the three months ended September 30, 2023 and September 30, 2022, ($204) and ($197) for the nine months ended September 30, 2023 and September 30, 2022 (note 4) (664) (1,774) (644) (619)
Comprehensive loss, for the period $ (23,436) $ (9,755) $ (73,467) $ (14,745)
Basic and diluted loss per common share (note 9) (in dollars per share) $ (2.09) $ (0.74) $ (6.71) $ (1.31)
Shares used in computing basic and diluted loss per common share (note 9) (in shares) 10,874,659 10,779,348 10,852,079 10,766,657