Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Mar. 31, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues, net of discounts $ 86,367 $ 50,697   $ 171,511 $ 55,783
Cost of revenues 72,415 42,377   146,069 45,055
Gross profit 13,952 8,320   25,442 10,728
Operating Expenses          
Compensation expense 6,856 4,169   12,494 5,356
Selling, general and administrative expenses 5,122 3,529   9,321 4,503
Amortization of intangible assets 938 589   1,876 589
Travel expense 567 191   836 291
Occupancy costs 166 280   337 394
Transaction expenses 33 1,409   125 1,419
Loss on sale of asset (47) 429   (13) 472
Total operating expenses 13,635 10,596   24,976 13,024
Operating income (loss) 317 (2,276)   466 (2,296)
Other (Expense) Income          
Interest (expense) income (2,889) (1,793)   (3,802) (2,527)
Amortization of deferred financing costs and debt discount (3,458) (1,934)   (9,370) (2,331)
Change in warrant fair market valuation 1,021   (1,179)
Other (expense) income (1,421) 10   (1,744) (46)
Financing costs (6,214)   (8,812) (563)
Total other (expense) income (13,982) (2,696)   (23,728) (6,646)
(Loss) income before (benefit) provision for income taxes (13,665) (4,972)   (23,262) (8,942)
(Benefit) provision for income taxes (107) 121   460 121
Net (loss) income (13,558) (5,093)   (23,722) (9,063)
Preferred stock dividends (20) (20)   (40) (40)
Net (loss) income attributable to common shareholders $ (13,578) $ (5,113)   $ (23,762) $ (9,103)
Loss per share:          
Basic and Diluted $ (2.26) $ (1.02)   $ (4.53) $ (2.11)
Weighted average number of common shares outstanding          
Basic and Diluted 5,997,856 4,989,451   5,249,808 4,305,814
Predecessor [Member]          
Revenues, net of discounts [1]     $ 42,089    
Cost of revenues [1]     33,789    
Gross profit [1]     8,300    
Operating Expenses          
Compensation expense [1]     5,671    
Selling, general and administrative expenses [1]     2,009    
Amortization of intangible assets [1]        
Travel expense [1]     22    
Occupancy costs     160    
Transaction expenses        
Loss on sale of asset [1]        
Total operating expenses [1]     7,862    
Operating income (loss) [1]     438    
Other (Expense) Income          
Interest (expense) income [1]     5    
Amortization of deferred financing costs and debt discount [1]        
Change in warrant fair market valuation [1]        
Other (expense) income [1]     51    
Financing costs [1]        
Total other (expense) income [1]     56    
(Loss) income before (benefit) provision for income taxes [1]     494    
(Benefit) provision for income taxes [1]     240    
Net (loss) income [1]     254    
Preferred stock dividends [1]        
Net (loss) income attributable to common shareholders [1]     $ 254    
[1] Activity for the period April 1, 2017 through April 20, 2017 was not material.