Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.23.3
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Service and subscription revenue $ 107,000 $ 86,397 $ 300,978 $ 238,366
Net interest income on loan receivables 3,258 2,351 9,490 7,436
Total revenue, net 110,258 88,748 310,468 245,802
Operating expenses        
Provision for credit losses on consumer receivables 25,121 27,428 67,194 77,453
Compensation and benefits 23,511 25,619 70,491 74,160
Marketing 7,029 6,954 19,970 27,847
Direct costs 32,813 28,837 94,845 79,427
Professional services 4,968 7,546 14,485 21,486
Technology-related costs 5,891 5,327 17,540 15,241
Other operating expenses 9,824 11,209 30,038 31,820
Total operating expenses 109,157 112,920 314,563 327,434
Net income (loss) before other expense (income) and income taxes 1,101 (24,172) (4,095) (81,632)
Interest expense (7,088) (7,880) (21,929) (21,638)
Change in fair value of warrant liability (81) 414 (68) 7,275
Change in fair value of contingent consideration from mergers and acquisitions   10,214 6,613 14,034
Goodwill impairment loss     (26,721)  
Other income (expense) 2,358 460 5,264 (447)
Net loss before income taxes (3,710) (20,964) (40,936) (82,408)
Income tax expense (benefit) 400 53 114 (28,348)
Net loss (4,110) (21,017) (41,050) (54,060)
(Accrued) / reversal of previously accrued dividends on preferred stock   (1,688) 690 (4,892)
Net loss attributable to common shareholders $ (4,110) $ (22,705) $ (40,360) $ (58,952)
Net loss per share, basic [1],[2] $ (0.4) $ (2.78) $ (4.3) $ (7.45)
Net loss per share, diluted [1],[2] $ (0.4) $ (2.78) $ (4.3) $ (7.45)
Weighted average shares used in computing net loss per share, basic [1],[2] 10,221,956 8,156,757 9,375,221 7,910,074
Weighted average shares used in computing net loss per share, diluted [1],[2] 10,221,956 8,156,757 9,375,221 7,910,074
[1] Prior period results have been adjusted to reflect the Reverse Stock Split 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.
[2] 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.