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 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Mar. 31, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues, net of discounts $ 92,224 $ 79,083   $ 263,735 $ 134,866
Cost of revenues 76,311 63,553   222,380 108,608
Gross profit 15,913 15,530   41,355 26,258
Operating Expenses          
Compensation expense 9,283 5,312   21,777 10,668
Selling, general and administrative expenses 9,045 4,660   19,653 10,746
Amortization of intangible assets 938 768   2,813 1,358
Total operating expenses 19,266 10,740   44,243 22,772
Operating (loss) income (3,353) 4,790   (2,888) 3,486
Other (Expense) Income          
Interest (expense) income (2,140) (1,824)   (5,942) (4,351)
Amortization of deferred financing costs and debt discount (4,318) (1,332)   (13,688) (3,663)
Change in warrant fair market valuation 2,033   854
Other (expense) income (572) (7)   (2,316) (52)
Financing costs (1,374) (139)   (10,187) (1,694)
Total other (expense) income (8,404) (1,269)   (32,133) (8,906)
(Loss) income before (benefit)provision for income taxes (11,757) 3,521   (35,021) (5,420)
(Benefit) provision for income taxes 268 972   728 1,093
Net (loss) income (12,025) 2,549   (35,749) (6,513)
Preferred stock dividends (20) (20)   (60) (60)
Net (loss) income attributable to common shareholders $ (12,045) $ 2,529   $ (35,809) $ (6,573)
(Loss) earnings per share:          
Basic $ (1.89) $ 0.47   $ (6.36) $ (1.40)
Diluted $ (1.89) $ 0.46   $ (6.36) $ (1.40)
Weighted average number of common shares outstanding          
Basic 6,372,775 5,367,208   5,630,556 4,699,369
Diluted 6,372,775 5,547,743   5,630,556 4,699,369
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]     2,191    
Amortization of intangible assets [1]        
Total operating expenses [1]     7,862    
Operating (loss) income [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.