Special Note Regarding Forward-Looking Statements
Integrated Care Management Segment - Thrasys
Cost of Goods and Services
Virtual Care Infrastructure Segment - Glocal and Cloudbreak
Glocal also owns nine hospitals, four of which it operates and five of which it has contracted with third parties to operate with Glocal receiving a revenue-share.
Services. Services revenue is generated primarily from operating hospitals and clinics, including pharmacy and medicine sales, and transaction fees per telemedicine consultation.
Products. Products revenue is generated primarily from the sale of HelloLyf CX digital dispensaries and the construction of HelloLyf HX digital hospitals.
Cost of Goods and Services
General and Administrative Expenses. G&A expenses include compensation and benefits expense, and other administrative costs, related to its executive, finance, human resources, legal, facilities, and information technology teams, net of allocations to cost of goods and services and S&M expenses.
Products. Products revenue consists of the sale of Martti™ devices to its customers. Sale of Martti™ devices are generally invoiced at contract execution (50%) and upon the delivery of the devices to the customer (50%). Invoiced amounts are typically due within 30 days of the invoice date.
Cost of Goods and Services
addition to third-party service provider costs such as data center and networking expenses, amortization of capitalized internal-use software development costs, the cost of purchased equipment inventory sold to customers, and an allocation of facilities, information technology, and depreciation costs.
Services Segment - Innovations Group, TTC and BHS
Innovations Group Key Business Metrics
Services. Services revenue is generated primarily from CME educational courses provided by WorldLink Medical.
Cost of Goods and Services
General and Administrative Expenses. G&A expenses include compensation and benefits expense, and other administrative costs, related to its executive, finance, human resources, legal, facilities, and information technology teams, net of allocations to cost of goods and services and S&M expenses.
Cost of Goods and Services
Cost of goods and services consists primarily of the costs of operating the facilities, professional/doctor fees, and an allocation of information technology and depreciation costs.
Sales and Marketing Expenses. S&M expenses consist of costs related to advertising, marketing programs, and events.
General and Administrative Expenses. G&A expenses include compensation and benefits expense, and other administrative costs, related to its executive, finance, human resources, legal, facilities, and information technology teams, net of allocations to cost of goods and services and S&M expenses.
Products. Products revenue is generated primarily by providing retail pharmacy services through BHS Pharmacy, LLC.
Cost of Goods and Services
General and Administrative Expenses. G&A expenses include compensation and benefits expense, and other administrative costs, related to its executive, finance, human resources, legal, facilities, and information technology teams, net of allocations to cost of goods and services.
Among our significant accounting policies, which are described in Note 2, Summary of Significant Accounting Policies, in the Notes to Condensed Consolidated Financial Statements of this Quarterly Report, the following accounting policies and specific estimates involve a greater degree of judgment and complexity:
•Goodwill and intangible assets;
There have been no changes to our critical accounting policies and estimates described in our Annual Report that have had a significant impact on our condensed consolidated financial statements and related notes.
UpHealth, Inc. Consolidated Results of Operations
The following table sets forth the consolidated results of operations of UpHealth as a percentage of total revenue:
Three months ended June 30, 2022 and 2021
In the three months ended June 30, 2022, the income tax benefit was $2.2 million. In the three months ended June 30, 2021, the income tax benefit was $6.6 million.
Six months ended June 30, 2022 and 2021
Cost of Goods and Services
In the six months ended June 30, 2022, the income tax benefit was $4.5 million. In the six months ended June 30, 2021, the income tax benefit was $7.1 million.
We evaluate performance based on several factors, of which revenue and gross margin by operating segment are the primary financial measures.
Revenue by segment consisted of the following:
Gross margin by segment consisted of the following:
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
Net (decrease) increase in cash, cash equivalents, and restricted cash
As UpHealth Holdings effectively began operations on January 1, 2020 and operations from UpHealth's subsidiaries are included from their dates of acquisition, as described above, the numbers presented above are not directly comparable between periods.
See Note 8, Debt, in the Notes to Condensed Consolidated Financial Statements of this Quarterly Report for our long-term debt.
See Note 2, Summary of Significant Accounting Policies, in the Notes to Condensed Consolidated Financial Statements of this Quarterly Report for the recently issued accounting standards that could have an effect on us.
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