v3.10.0.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUE:        
Total revenue $ 103,591 $ 110,946 $ 323,949 $ 305,649
OPERATING EXPENSES:        
Salary and employee benefits 9,992 8,120 28,406 24,356
Depreciation and amortization 4,899 3,602 12,679 11,254
Selling, general and administrative 3,725 3,002 13,978 7,214
Change in fair value of contingent consideration 0 0 0 (410)
Other operating expenses 5,064 2,512 10,449 8,143
Total operating expenses 100,031 101,480 309,306 281,349
Income from operations 3,560 9,466 14,643 24,300
OTHER INCOME (EXPENSES):        
Interest income 153 201 530 448
Interest expense (7,334) (6,418) (21,893) (18,600)
Debt modification and extinguishment expenses 0 0 (1,323) (1,753)
Change in fair value of warrant liability 72 (928) (3,458) (1,455)
Equity in loss and impairment of unconsolidated entities (4) (63) (857) (221)
Total other expenses (7,113) (7,208) (27,001) (21,581)
Net (loss) income before income taxes (3,553) 2,258 (12,358) 2,719
Income tax benefit (991) 0 (991) 0
Net (loss) income $ (2,562) $ 2,258 $ (11,367) $ 2,719
(Loss) income per common share:        
Basic and diluted (in dollars per share) $ (0.04) $ 0.03 $ (0.19) $ 0.04
PRO FORMA (C-corporation basis) (Note 8):        
Income tax expense (benefit) $ 2,350 $ 917 $ (1,618) $ 1,104
Net (loss) income $ (5,903) $ 1,341 $ (10,740) $ 1,615
(Loss) income per common share:        
Basic and diluted (in dollars per share) $ (0.09) $ 0.02 $ (0.18) $ 0.02
Merchant card fees        
REVENUE:        
Total revenue $ 94,915 $ 103,985 $ 299,661 $ 286,208
OPERATING EXPENSES:        
Cost of services 71,876 80,247 230,276 219,507
Outsourced services        
REVENUE:        
Total revenue 6,264 6,094 18,426 17,135
Other        
REVENUE:        
Total revenue 2,412 867 5,862 2,306
OPERATING EXPENSES:        
Cost of services $ 4,475 $ 3,997 $ 13,518 $ 11,285

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