v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Total revenue $ 121,340 $ 125,444 $ 358,597 $ 318,451
COST OF REVENUE 74,101 71,379 216,794 190,011
Total gross profit 47,239 54,065 141,803 128,440
Operating expenses:        
General and administrative 63,839 36,128 158,953 107,085
Research and development 7,409 1,964 13,360 6,129
Sales and marketing 15,704 11,304 46,677 34,757
Total operating expenses 86,952 49,396 218,990 147,971
Loss (income) from operations (39,713) 4,669 (77,187) (19,531)
Interest expense, net 1,296 2,458 3,375 4,825
Other income, net (89) (11) (431) (7,639)
Gain on investment in and loan receivable from non-consolidated affiliate, net (17,750) 0 (109,260) 0
Loss on extinguishment of debt 0 0 0 1,400
Loss on termination of cash flow hedge 0 0 0 3,506
(Loss) income before taxes (23,170) 2,222 29,129 (21,623)
Income tax benefit (2,822) (335) (4,283) (10,378)
Net (loss) income (20,348) 2,557 33,412 (11,245)
NET (LOSS) INCOME (20,348) 2,557 33,412 (11,245)
Convertible note accretion, amortization, and interest, net of tax [1] 0 1,975 0 0
NET (LOSS) INCOME USED IN DILUTED EPS $ (20,348) $ 4,532 $ 33,412 $ (11,245)
NET (LOSS) INCOME PER SHARE        
Basic (in dollars per share) $ (0.17) $ 0.02 $ 0.28 $ (0.10)
Diluted (in dollars per share) $ (0.17) $ 0.04 $ 0.28 $ (0.10)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic (in shares) 122,559 110,461 119,087 107,605
Diluted (in shares) 122,559 119,191 121,356 107,605
Clinical Services        
Total revenue $ 102,227 $ 108,733 $ 300,119 $ 275,599
Total gross profit 42,667 48,126 121,761 117,312
Pharma Services        
Total revenue 19,113 16,711 58,478 42,852
Total gross profit $ 4,572 $ 5,939 $ 20,042 $ 11,128
[1] This adjustment compensates for the effects of the if-converted impact of convertible notes in net income. Since an entity using the if-converted method assumes that a convertible debt instrument was converted into common shares at the beginning of the reporting period, net income is adjusted to reverse any recognized interest expense (including any amortization of discounts).

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