Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.24.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]    
NET REVENUE $ 117,059,000 $ 138,826,000
OPERATING EXPENSES:    
Direct operating costs 70,817,000 84,434,000
Selling and marketing 9,650,000 9,788,000
General and administrative 21,464,000 23,820,000
Research and development 4,736,000 4,401,000
Change in contingent consideration (3,090,000)
Depreciation and amortization 14,402,000 11,725,000
Goodwill impairment charges 42,000,000
Net loss on lease terminations, unoccupied lease charges and restructuring costs 1,105,000 1,138,000
Total operating expenses 164,174,000 132,216,000
OPERATING (LOSS) INCOME (47,115,000) 6,610,000
OTHER:    
Interest income 154,000 41,000
Interest expense (1,194,000) (405,000)
Other expense - net (883,000) (637,000)
(LOSS) INCOME BEFORE (BENEFIT) PROVISION FOR INCOME TAXES (49,038,000) 5,609,000
Income tax (benefit) provision (364,000) 177,000
NET (LOSS) INCOME (48,674,000) 5,432,000
Preferred stock dividend 15,674,000 15,517,000
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (64,348,000) $ (10,085,000)
Net loss per common share: basic $ (4.11) $ (0.67)
Net loss per common share: diluted $ (4.11) $ (0.67)
Weighted-average common shares used to compute basic loss per share 15,669,472 15,109,587
Weighted-average common shares used to compute diluted loss per share 15,669,472 15,109,587