v3.19.3
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUE:        
Total revenue $ 109,954 $ 103,591 $ 317,356 $ 323,949
OPERATING EXPENSES:        
Salary and employee benefits 10,668 9,992 31,923 28,406
Depreciation and amortization 10,077 4,899 28,763 12,679
Selling, general and administrative 6,695 8,789 21,031 24,427
Total operating expenses 107,229 100,031 311,229 309,306
Income from operations 2,725 3,560 6,127 14,643
OTHER INCOME (EXPENSES):        
Interest expense (10,463) (7,334) (30,602) (21,893)
Other, net 158 221 523 (5,108)
Total other expenses, net (10,305) (7,113) (30,079) (27,001)
Loss before income taxes (7,580) (3,553) (23,952) (12,358)
Income tax (benefit) expense (1,736) (991) 2,468 (991)
Net loss $ (5,844) $ (2,562) $ (26,420) $ (11,367)
Loss per common share:        
Basic and diluted (in dollar per share) $ (0.09) $ (0.04) $ (0.39) $ (0.19)
Weighted-average common shares outstanding:        
Basic (in shares) 67,007 64,152 67,109 60,339
Diluted (in shares) 67,007 64,544 67,109 60,339
PRO FORMA (C-corporation basis):        
Pro forma income tax expense (benefit)   $ 2,350   $ (1,618)
Pro forma net loss   $ (5,903)   $ (10,740)
Pro forma loss per common share:        
Basic and diluted (in dollar per share)   $ (0.09)   $ (0.18)
Merchant card fees        
REVENUE:        
Total revenue $ 101,720 $ 94,915 $ 292,694 $ 299,661
OPERATING EXPENSES:        
Cost of services 74,953 71,876 215,433 230,276
Outsourced services and other        
REVENUE:        
Total revenue 8,234 8,676 24,662 24,288
OPERATING EXPENSES:        
Cost of services $ 4,836 $ 4,475 $ 14,079 $ 13,518

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