Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.23.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue        
Service and subscription revenue $ 103,237 $ 84,823 $ 193,978 $ 151,969
Net interest income on loan receivables 3,304 2,517 6,232 5,085
Total revenue, net 106,541 87,340 200,210 157,054
Operating expenses        
Provision for credit losses on consumer receivables 25,562 26,981 42,073 50,025
Compensation and benefits 22,572 26,498 46,980 48,541
Marketing 6,549 9,477 12,941 20,893
Direct costs 32,230 29,386 62,032 50,590
Professional services 4,518 6,652 9,517 13,940
Technology-related costs 5,611 5,409 11,649 9,914
Other operating expenses 11,219 9,842 20,214 20,611
Total operating expenses 108,261 114,245 205,406 214,514
Net loss before other (expense) income and income taxes (1,720) (26,905) (5,196) (57,460)
Interest expense (7,330) (7,584) (14,841) (13,758)
Change in fair value of warrant liability 162 2,951 13 6,861
Change in fair value of contingent consideration from mergers and acquisitions 6,367 8,480 6,613 3,820
Goodwill impairment loss (26,721)   (26,721)  
Other income (expense) 1,257 9 2,906 (907)
Net loss before income taxes (27,985) (23,049) (37,226) (61,444)
Income tax (benefit) expense 262 16 (286) (28,401)
Net loss (27,723) (23,065) (36,940) (33,043)
Reversal of previously accrued / (accrued) dividends on preferred stock 2,667 (2,176) 690 (3,204)
Net loss attributable to common shareholders $ (25,056) $ (25,241) $ (36,250) $ (36,247)
Net loss per share, basic [1] $ (2.71) $ (3.20) $ (4.05) $ (4.66)
Net loss per share, diluted $ (2.71) [1] $ (3.20) $ (4.05) [1] $ (4.66) [1]
Weighted average shares used in computing net loss per share, basic [1] 9,234,238 7,877,106 8,944,836 7,784,688
Weighted average shares used in computing net loss per share, diluted [1] 9,234,238 7,877,106 8,944,836 7,784,688
[1] Prior period results have been adjusted to reflect the Reverse Stock Split of the Class A Common Stock at a ratio of 1-for-30 that became effective April 24, 2023. See Note 1, “Description of Business and Basis of Presentation,” for details.