Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 01, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | MDRX | |
Entity Registrant Name | ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. | |
Entity Central Index Key | 0001124804 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 110,792,560 | |
Entity File Number | 001-35547 | |
Entity Tax Identification Number | 36-4392754 | |
Entity Address, Address Line One | 222 Merchandise Mart | |
Entity Address, Address Line Two | Suite 2024 | |
Entity Address, City or Town | Chicago | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60654 | |
City Area Code | 800 | |
Local Phone Number | 334-8534 | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Security Exchange Name | NASDAQ | |
Entity Incorporation, State or Country Code | DE | |
Document Quarterly Report | true | |
Document Transition Report | false |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 500,164 | $ 132,517 |
Restricted cash | 1,307 | 1,308 |
Accounts receivable, net of allowance of $12,581 and $13,360 as of June 30, 2022 and December 31, 2021, respectively | 166,746 | 171,622 |
Contract assets, net of allowance of $564 and $576 as of June 30, 2022 and December 31, 2021 | 49,029 | 63,429 |
Prepaid expenses and other current assets | 91,521 | 60,511 |
Assets held for sale | 20,000 | 331,955 |
Total current assets attributable to discontinued operations | 828,767 | 761,342 |
Fixed assets, net | 14,971 | 9,819 |
Software development costs, net | 82,541 | 74,688 |
Intangible assets, net | 149,210 | 149,690 |
Goodwill | 524,149 | 506,607 |
Deferred taxes, net | 7 | 0 |
Contract assets - long-term, net of allowance of $1,201 and $1,534 as of June 30 2022 and December 31, 2021, respectively | 19,358 | 28,174 |
Right-of-use assets - operating leases | 15,904 | 18,324 |
Other assets | 79,309 | 83,429 |
Long-term assets attributable to discontinued operations | 0 | 793,156 |
Total assets | 1,714,216 | 2,425,229 |
Current liabilities: | ||
Accounts payable | 18,014 | 5,281 |
Accrued expenses | 82,964 | 54,518 |
Accrued compensation and benefits | 34,001 | 31,055 |
Deferred revenue | 84,882 | 120,748 |
Current operating lease liabilities | 6,095 | 6,133 |
Current liabilities attributable to discontinued operations | 30,372 | 329,347 |
Total current liabilities attributable to discontinued operations | 256,328 | 547,082 |
Long-term debt | 199,895 | 350,062 |
Deferred revenue | 2,021 | 1,839 |
Deferred taxes, net | 10,861 | 16,625 |
Long-term operating lease liabilities | 13,873 | 16,754 |
Other liabilities | 34,890 | 33,823 |
Long-term liabilities attributable to discontinued operations | 0 | 50,906 |
Total liabilities | 517,868 | 1,017,091 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock: $0.01 par value, 1,000 shares authorized, no shares issued and outstanding as of June 30, 2022 and December 31, 2021 | 0 | 0 |
Common stock: $0.01 par value, 349,000 shares authorized as of June 30, 2022 and December 31, 2021; 279,175 and 110,793 shares issued and outstanding as of June 30, 2022, respectively; 276,705 and 116,114 shares issued and outstanding as of December 31, 2021, respectively | 2,790 | 2,766 |
Treasury stock: at cost, 168,383 and 160,591 shares as of June 30, 2022 and December 31, 2021, respectively | (1,465,177) | (1,321,805) |
Additional paid-in capital | 1,923,805 | 1,962,386 |
Retained earnings | 738,864 | 767,556 |
Accumulated other comprehensive loss | (3,934) | (2,765) |
Total stockholders’ equity | 1,196,348 | 1,408,138 |
Total liabilities and stockholders’ equity | $ 1,714,216 | $ 2,425,229 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance | $ 12,581 | $ 13,360 |
Contract assets, allowance | 564 | 576 |
Total contract assets, long-term | $ 1,201 | $ 1,534 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 349,000,000 | 349,000,000 |
Common stock, shares issued | 279,175,000 | 276,705,000 |
Common stock, shares outstanding | 110,793,000 | 116,114,000 |
Treasury stock at cost, shares | 168,383,000 | 160,591,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenue: | ||||
Revenue from contract with customers | $ 150,898 | $ 141,206 | $ 293,570 | $ 274,858 |
Cost of revenue: | ||||
Total cost of revenue | 71,416 | 72,787 | 140,607 | 143,522 |
Gross profit | 79,482 | 68,419 | 152,963 | 131,336 |
Selling, general and administrative expenses | 59,847 | 28,124 | 101,165 | 60,288 |
Research and development | 22,750 | 20,942 | 46,170 | 41,602 |
Asset impairment charges | 0 | 172 | 0 | 172 |
Amortization of intangible and acquisition-related assets | 2,241 | 2,363 | 4,412 | 4,727 |
(Loss) Income from operations | (5,356) | 16,818 | 1,216 | 24,547 |
Interest expense | (1,887) | (2,949) | (4,023) | (6,092) |
Other income, net | 2,133 | 16,528 | 2,145 | 17,326 |
Equity in net loss of unconsolidated investments | (207) | (86) | (605) | (64) |
(Loss) income from continuing operations before income taxes | (5,317) | 30,311 | (1,267) | 35,717 |
Income tax benefit (provision) | (8,579) | 4,168 | (23,000) | 5,274 |
Income from continuing operations, net of tax | 3,262 | 26,143 | 21,733 | 30,443 |
Loss from discontinued operations | (3,797) | (6,178) | (8,818) | (358) |
Gain on sale of discontinued operations | 2,765 | 0 | 2,765 | 647 |
Income tax effect on discontinued operations | (66,256) | 1,961 | (56,849) | 251 |
(Loss) income from discontinued operations, net of tax | (67,288) | (4,217) | (62,902) | 540 |
Net (loss) income | $ (64,026) | $ 21,926 | $ (41,169) | $ 30,983 |
Basic | ||||
Continuing operations | $ 0.03 | $ 0.19 | $ 0.19 | $ 0.22 |
Discontinued operations | (0.59) | (0.03) | (0.55) | 0 |
Net (loss) earnings per Common Share - Basic | (0.56) | 0.16 | (0.36) | 0.22 |
Diluted | ||||
Continuing operations | 0.03 | 0.18 | 0.17 | 0.21 |
Discontinued operations | (0.57) | (0.03) | (0.46) | 0 |
Net (loss) earnings per Common Share - Diluted | $ (0.54) | $ 0.15 | $ (0.29) | $ 0.21 |
Provider [Member] | ||||
Revenue: | ||||
Revenue from contract with customers | $ 118,939 | $ 115,904 | $ 237,604 | $ 227,074 |
Cost of revenue: | ||||
Total cost of revenue | 58,326 | 60,094 | 115,343 | 118,960 |
Payer & Life Sciences [Member] | ||||
Revenue: | ||||
Revenue from contract with customers | 31,959 | 25,302 | 55,966 | 47,784 |
Cost of revenue: | ||||
Total cost of revenue | $ 13,090 | $ 12,693 | $ 25,264 | $ 24,562 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net (loss) income | $ (64,026) | $ 21,926 | $ (41,169) | $ 30,983 |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments | (717) | 421 | (867) | 520 |
Change in fair value of derivatives qualifying as cash flow hedges | (153) | (828) | (404) | (1,509) |
Other comprehensive (loss) income before income tax benefit | (870) | (407) | (1,271) | (989) |
Income tax benefit related to items in other comprehensive income (loss) | 38 | 214 | 102 | 390 |
Total other comprehensive income (loss) | (832) | (193) | (1,169) | (599) |
Comprehensive income | $ (64,858) | $ 21,733 | $ (42,338) | $ 30,384 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Common Stock Issued [Member] | Treasury Stock [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] Cumulative Effect Period Of Adoption Adjustment [Member] Revision Of Prior Period Accounting Standards Update Adjustment [Member] | Retained Earnings (Accumulated Deficit) [Member] | Retained Earnings (Accumulated Deficit) [Member] Cumulative Effect Period Of Adoption Adjustment [Member] Revision Of Prior Period Accounting Standards Update Adjustment [Member] | Accumulated Other Comprehensive Loss [Member] |
Beginning Balance, Shares at Dec. 31, 2020 | 274,558,000 | (134,616,000) | ||||||
Beginning Balance at Dec. 31, 2020 | $ 1,666,243 | $ 2,745 | $ (870,558) | $ 1,902,776 | $ 633,118 | $ (1,838) | ||
Beginning Balance (ASU 2020-06 [Member]) at Dec. 31, 2020 | $ 0 | $ 0 | ||||||
Stock-based compensation | 17,084 | |||||||
Ending Balance, Shares at Mar. 31, 2021 | 275,241,000 | (134,616,000) | ||||||
Ending Balance at Mar. 31, 2021 | 1,678,658 | $ 2,751 | $ (870,558) | 1,906,534 | 642,175 | (2,244) | ||
Ending Balance (ASU 2020-06 [Member]) at Mar. 31, 2021 | 0 | 0 | ||||||
Beginning Balance, Shares at Dec. 31, 2020 | 274,558,000 | (134,616,000) | ||||||
Beginning Balance at Dec. 31, 2020 | 1,666,243 | $ 2,745 | $ (870,558) | 1,902,776 | 633,118 | (1,838) | ||
Beginning Balance (ASU 2020-06 [Member]) at Dec. 31, 2020 | 0 | 0 | ||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes, Shares | 2,110,000 | |||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes | $ 21 | (13,912) | ||||||
Issuance of treasury stock, Shares | 33,000 | |||||||
Treasury Stock, Shares, Acquired | 6,397,000 | |||||||
Issuance of treasury stock | 534 | $ 465 | 69 | |||||
Purchase of treasury stock, Shares | (6,397,000) | |||||||
Purchase of treasury stock | $ (108,953) | |||||||
Accelerated share repurchase program, Shares | 10,677,000 | |||||||
Accelerated share repurchase program | $ (195,452) | (4,548) | ||||||
Warrants issued | 2,073 | |||||||
Net (loss) income | 30,983 | |||||||
Foreign currency translation adjustments, net | 520 | 520 | ||||||
Unrecognized loss on derivatives qualifying as cash flow hedges, net of tax | (1,119) | |||||||
Ending Balance, Shares at Jun. 30, 2021 | 276,668,000 | (151,657,000) | ||||||
Ending Balance at Jun. 30, 2021 | 1,393,474 | $ 2,766 | $ (1,174,498) | 1,903,542 | 664,101 | (2,437) | ||
Beginning Balance, Shares at Dec. 31, 2020 | 274,558,000 | (134,616,000) | ||||||
Beginning Balance at Dec. 31, 2020 | $ 1,666,243 | $ 2,745 | $ (870,558) | 1,902,776 | 633,118 | (1,838) | ||
Beginning Balance (ASU 2020-06 [Member]) at Dec. 31, 2020 | 0 | 0 | ||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes, Shares | 2,200,000 | |||||||
Ending Balance, Shares at Dec. 31, 2021 | 276,705,000 | 276,705,000 | (160,591,000) | |||||
Ending Balance at Dec. 31, 2021 | $ 1,408,138 | $ 2,766 | $ (1,321,805) | 1,962,386 | 767,556 | (2,765) | ||
Ending Balance (ASU 2020-06 [Member]) at Dec. 31, 2021 | (38,918) | 12,477 | ||||||
Beginning Balance, Shares at Mar. 31, 2021 | 275,241,000 | (134,616,000) | ||||||
Beginning Balance at Mar. 31, 2021 | 1,678,658 | $ 2,751 | $ (870,558) | 1,906,534 | 642,175 | (2,244) | ||
Beginning Balance (ASU 2020-06 [Member]) at Mar. 31, 2021 | 0 | 0 | ||||||
Stock-based compensation | 8,383 | |||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes, Shares | 1,427,000 | |||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes | $ 15 | (7,932) | ||||||
Issuance of treasury stock, Shares | 33,000 | |||||||
Treasury Stock, Shares, Acquired | 6,397,000 | |||||||
Issuance of treasury stock | $ 465 | 69 | ||||||
Purchase of treasury stock, Shares | (6,397,000) | |||||||
Purchase of treasury stock | $ (108,953) | |||||||
Accelerated share repurchase program, Shares | 10,677,000 | |||||||
Accelerated share repurchase program | $ (195,452) | (4,548) | ||||||
Warrants issued | 1,036 | |||||||
Net (loss) income | 21,926 | |||||||
Foreign currency translation adjustments, net | 421 | 421 | ||||||
Unrecognized loss on derivatives qualifying as cash flow hedges, net of tax | (614) | |||||||
Ending Balance, Shares at Jun. 30, 2021 | 276,668,000 | (151,657,000) | ||||||
Ending Balance at Jun. 30, 2021 | $ 1,393,474 | $ 2,766 | $ (1,174,498) | 1,903,542 | 664,101 | (2,437) | ||
Beginning Balance, Shares at Dec. 31, 2021 | 276,705,000 | 276,705,000 | (160,591,000) | |||||
Beginning Balance at Dec. 31, 2021 | $ 1,408,138 | $ 2,766 | $ (1,321,805) | 1,962,386 | 767,556 | (2,765) | ||
Beginning Balance (ASU 2020-06 [Member]) at Dec. 31, 2021 | (38,918) | 12,477 | ||||||
Stock-based compensation | 19,952 | |||||||
Accounting Standards Update [Extensible List] | Stock-based compensation | |||||||
Ending Balance, Shares at Mar. 31, 2022 | 277,696,000 | (162,904,000) | ||||||
Ending Balance at Mar. 31, 2022 | $ 1,353,106 | $ 2,776 | $ (1,371,484) | 1,922,026 | 802,890 | (3,102) | ||
Ending Balance (ASU 2020-06 [Member]) at Mar. 31, 2022 | 0 | 0 | ||||||
Beginning Balance, Shares at Dec. 31, 2021 | 276,705,000 | 276,705,000 | (160,591,000) | |||||
Beginning Balance at Dec. 31, 2021 | $ 1,408,138 | $ 2,766 | $ (1,321,805) | 1,962,386 | 767,556 | (2,765) | ||
Beginning Balance (ASU 2020-06 [Member]) at Dec. 31, 2021 | (38,918) | 12,477 | ||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes, Shares | 2,500,000 | 2,470,000 | ||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes | $ 24 | (27,910) | ||||||
Issuance of treasury stock, Shares | 0 | |||||||
Treasury Stock, Shares, Acquired | 7,792,000 | |||||||
Issuance of treasury stock | $ 0 | $ 0 | 0 | |||||
Purchase of treasury stock, Shares | (7,792,000) | |||||||
Purchase of treasury stock | $ (143,372) | |||||||
Accelerated share repurchase program, Shares | 0 | |||||||
Accelerated share repurchase program | $ 0 | 0 | ||||||
Warrants issued | 8,295 | |||||||
Net (loss) income | (41,169) | |||||||
Foreign currency translation adjustments, net | $ (867) | (867) | ||||||
Unrecognized loss on derivatives qualifying as cash flow hedges, net of tax | (302) | |||||||
Ending Balance, Shares at Jun. 30, 2022 | 279,175,000 | 279,175,000 | (168,383,000) | |||||
Ending Balance at Jun. 30, 2022 | $ 1,196,348 | $ 2,790 | $ (1,465,177) | 1,923,805 | 738,864 | (3,934) | ||
Beginning Balance, Shares at Mar. 31, 2022 | 277,696,000 | (162,904,000) | ||||||
Beginning Balance at Mar. 31, 2022 | 1,353,106 | $ 2,776 | $ (1,371,484) | 1,922,026 | 802,890 | (3,102) | ||
Beginning Balance (ASU 2020-06 [Member]) at Mar. 31, 2022 | $ 0 | $ 0 | ||||||
Stock-based compensation | 9,129 | |||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes, Shares | 1,479,000 | |||||||
Common stock issued under stock compensation plans, net of shares withheld for employee taxes | $ 14 | (14,608) | ||||||
Issuance of treasury stock, Shares | 0 | |||||||
Treasury Stock, Shares, Acquired | 5,479,000 | |||||||
Issuance of treasury stock | $ 0 | 0 | ||||||
Purchase of treasury stock, Shares | (5,479,000) | |||||||
Purchase of treasury stock | $ (93,693) | |||||||
Accelerated share repurchase program, Shares | 0 | |||||||
Accelerated share repurchase program | $ 0 | 0 | ||||||
Warrants issued | 7,258 | |||||||
Net (loss) income | (64,026) | |||||||
Foreign currency translation adjustments, net | $ (717) | (717) | ||||||
Unrecognized loss on derivatives qualifying as cash flow hedges, net of tax | (115) | |||||||
Ending Balance, Shares at Jun. 30, 2022 | 279,175,000 | 279,175,000 | (168,383,000) | |||||
Ending Balance at Jun. 30, 2022 | $ 1,196,348 | $ 2,790 | $ (1,465,177) | $ 1,923,805 | $ 738,864 | $ (3,934) |
CONSOLIDATED STATEMENTS OF ST_2
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Parenthetical) | Jun. 30, 2022 | Jun. 30, 2020 | Dec. 31, 2019 |
0.875% Convertible Senior Notes [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.875% | 0.875% | 0.875% |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net (loss) income | $ (41,169) | $ 30,983 |
Less: (Loss) income from discontinued operations | (62,902) | 540 |
Income from continuing operations | 21,733 | 30,443 |
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 28,465 | 32,940 |
Non-cash lease expense, net | (5,186) | (5,649) |
Stock-based compensation expense | 15,348 | 4,822 |
Deferred taxes | (467) | 5,772 |
Impairment of assets and long-term investments | 0 | 172 |
Equity in net loss of unconsolidated investments | 605 | 64 |
Other (income) loss, net | (1,354) | 43 |
Changes in operating assets and liabilities (net of businesses acquired): | ||
Accounts receivable and contract assets, net | 28,751 | 11,814 |
Prepaid expenses and other assets | 10,248 | (4,513) |
Accounts payable | 25,246 | 1,422 |
Accrued expenses | 12,440 | 37,725 |
Accrued compensation and benefits | (3,215) | (10,421) |
Deferred revenue | (35,156) | (20,526) |
Other liabilities | (20,798) | 4,145 |
Net cash provided by operating activities - continuing operations | 76,660 | 88,253 |
Net cash provided by (used in) operating activities - discontinued operations | (9,034) | (284,615) |
Net cash provided by (used in) operating activities | 67,626 | (196,362) |
Cash flows from investing activities: | ||
Capital expenditures | (1,652) | (225) |
Capitalized software | (18,258) | (16,735) |
Cash paid for business acquisitions, net of cash acquired | (24,106) | 0 |
Sale of businesses and other investments, net of cash divested, and distributions received | 672,488 | 4,242 |
Purchases of equity securities, other investments and related intangible assets, net | (251) | (221) |
Net cash provided by (used in) investing activities - continuing operations | 628,221 | (12,939) |
Net cash used in investing activities - discontinued operations | (15,248) | (21,606) |
Net cash provided by (used in) investing activities | 612,973 | (34,545) |
Cash flows from financing activities: | ||
Taxes paid related to net share settlement of equity awards | (27,871) | (12,638) |
Credit facility payments | (200,000) | 0 |
Credit facility borrowings, net of issuance costs | 22,335 | 250,000 |
Repurchase of common stock | (143,372) | (308,953) |
Intercompany to/from parent/subsidiaries | 11,685 | 4,987 |
Payment of acquisition and other financing obligations | 0 | (2,400) |
Net cash used in financing activities - continuing operations | (337,223) | (69,004) |
Net cash used in financing activities - discontinued operations | (11,697) | (6,236) |
Net cash used in financing activities | (348,920) | (75,240) |
Effect of exchange rate changes on cash and cash equivalents | (728) | 65 |
Net increase (decrease) in cash and cash equivalents | 330,951 | (306,082) |
Cash, cash equivalents and restricted cash, beginning of period | 190,520 | 537,465 |
Cash, cash equivalents and restricted cash, end of period | 521,471 | 231,383 |
Less: Cash and cash equivalents attributable to discontinued operations | (20,000) | (70,520) |
Cash, cash equivalents and restricted cash, end of period, excluding discontinued operations | $ 501,471 | $ 160,863 |
Basis of Presentation and Signi
Basis of Presentation and Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | 1. Basis of Presentation and Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of Allscripts Healthcare Solutions, Inc. (“Allscripts”) and its wholly-owned subsidiaries and controlled affiliates. All significant intercompany balances and transactions have been eliminated. Each of the terms “we,” “us,” “our” or the “Company” as used herein refers collectively to Allscripts Healthcare Solutions, Inc. and its wholly-owned subsidiaries and controlled affiliates, unless otherwise stated. Unaudited Interim Financial Information The unaudited interim consolidated financial statements as of and for the three and six months ended June 30, 2022 and 2021 have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim consolidated financial statements are unaudited and, in the opinion of our management, include all adjustments, consisting of normal recurring adjustments and accruals, necessary to present fairly the consolidated financial statements for the periods presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The consolidated results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the SEC's rules and regulations for interim reporting. The Company believes that the disclosures made are adequate to make these unaudited interim consolidated financial statements not misleading. They should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2021, as amended (our “Form 10-K”). Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Our estimates and assumptions consider the current macroeconomic trends and their implications of COVID-19 on our critical and significant accounting estimates. Actual results could differ materially from these estimates. Significant Accounting Policies There have been no changes to our significant accounting policies from those disclosed in our Form 10-K. Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2020-06, “ Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). The amendments in ASU 2020-06 simplify the accounting for convertible instruments by removing major separation models required under current GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exceptions and also requires the application of the if-converted method for calculating diluted earnings per share, whereas the treasury stock method is no longer permitted for convertible instruments. The standard is effective for public business entities, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years and interim periods within those fiscal years, beginning after December 15, 2021. We adopted ASU 2020-06 on January 1, 2022 using the modified retrospective method of transition, which resulted in an increase in long-term debt of $ 26.4 million, a decrease in additional paid-in capital of $ 38.9 million and an increase to retained earnings of $ 12.5 million, as of January 1, 2022. Refer to Note 10, “Debt” for additional information. Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued Accounting Standards Update No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”), which requires contract assets and contract liabilities (deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (“ASC”) 606, “ Revenue from Contracts with Customers” , as if it had originated the contracts. The new guidance creates an exception to the general recognition and measurement principles of ASC 805, “ Business Combinations” . The new standard should be applied prospectively and is effective for all public business entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The standard is effective for all other entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the effects of the adoption of ASU 2021-08 on our consolidated financial statements. We do not believe that any other recently issued, but not yet effective accounting standards, if adopted, will have a material impact on our consolidated financial statements. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | 2. Revenue from Contracts with Customers Our two primary revenue streams are (i) provider revenue and (ii) payer and life sciences revenue. Provider revenue consists of revenue derived from software applications for patient engagement and the sale of EHR software to single-specialty and small and mid-sized physician practices, including related clinical, financial, administrative and operational solutions. Payer and life sciences revenue primarily consists of sales of our integrated data systems solutions and related services to key healthcare stakeholders, including health plans and pharmaceutical companies, to help them improve the quality, efficiency and value of healthcare delivery. At June 30, 2022 and December 31, 2021, we had capitalized costs to obtain or fulfill a contract of $ 10.2 million and $ 8.1 million, respectively, in Prepaid and other current assets and $ 11.9 million for each in Other assets. During both the three months ended June 30, 2022 and 2021, we recognized $ 2.9 million of amortization expense related to such capitalized costs. During the six months ended June 30, 2022 and 2021, we recognized $ 5.8 million and $ 6.2 million, respectively, of amortization expense related to such capitalized costs. The amortization of these capitalized costs to obtain a contract are included in Selling, general and administrative expense within our consolidated statements of operations. The timing of revenue recognition, billings and cash collections results in billed and unbilled accounts receivable, contract assets and customer advances and deposits. Accounts receivable, net includes both billed and unbilled amounts where the right to receive payment is unconditional and only subject to the passage of time. Contract assets include amounts where revenue recognized exceeds the amount billed to the customer and the right to payment is not solely subject to the passage of time. Deferred revenue includes advanced payments and billings in excess of revenue recognized. Our contract assets and deferred revenue are reported in a net position on an individual contract basis at the end of each reporting period. Contract assets are classified as current or long-term based on the timing of when we expect to complete the related performance obligations and bill the customer. Deferred revenue is classified as current or long-term based on the timing of when we expect to recognize revenue. The breakdown of revenue recognized based on the origination of performance obligations and elected accounting expedients is presented in the tables below: (In thousands) Three Months Three Months Revenue related to deferred revenue balance at beginning of period $ 36,151 $ 25,901 Revenue related to new performance obligations satisfied during the period 45,306 55,990 Revenue recognized under "right-to-invoice" expedient 61,114 68,877 Reimbursed travel expenses, shipping and other revenue 101 130 Total revenue $ 142,672 $ 150,898 (In thousands) Three Months Three Months Revenue related to deferred revenue balance at beginning of period $ 29,401 $ 36,770 Revenue related to new performance obligations satisfied during the period 47,263 41,814 Revenue recognized under "right-to-invoice" expedient 56,811 62,105 Reimbursed travel expenses, shipping and other revenue 177 517 Total revenue $ 133,652 $ 141,206 The aggregate amount of contract transaction price related to remaining unsatisfied performance obligations represents contracted revenue that has not yet been recognized and includes both deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Total unsatisfied performance obligations equaled $ 923 million as of June 30, 2022, of which we expect to recognize approximately 29% over the next 12 months, and the remaining 71% thereafter. Revenue Recognition We recognize revenue only when we satisfy an identified performance obligation (or bundle of obligations) by transferring control of a promised product or service to a customer. We consider a product or service to be transferred when a customer obtains control because a customer has sole possession of the right to use (or the right to direct the use of) the product or service for the remainder of its economic life or to consume the product or service in its own operations. We evaluate the transfer of control primarily from the customer’s perspective as this reduces the risk that revenue is recognized for activities that do not transfer control to the customer. The majority of our revenue is recognized over time because a customer continuously and simultaneously receives and consumes the benefits of our performance. The exceptions to this pattern are our sales of perpetual and term software licenses, and hardware, where we determined that a customer obtains control of the asset upon granting of access, delivery or shipment. We disaggregate our revenue from contracts with customers based on the type of revenue and nature of revenue stream, as we believe those categories best depict how the nature, amount and uncertainty of our revenue and cash flows are affected by economic factors. The tables below summarize revenue by type and nature of revenue stream as well as by our reportable segment. Three Months Ended June 30, 2022 (In thousands) Veradigm Unallocated Amounts Total Provider $ 112,678 $ 6,261 $ 118,939 Payer & Life Sciences 31,959 0 31,959 Total revenue $ 144,637 $ 6,261 $ 150,898 Three Months Ended June 30, 2021 (In thousands) Veradigm Unallocated Amounts Total Provider $ 108,147 $ 7,757 $ 115,904 Payer & Life Sciences 25,302 0 25,302 Total revenue $ 133,449 $ 7,757 $ 141,206 Six Months Ended June 30, 2022 (In thousands) Veradigm Unallocated Amounts Total Provider $ 224,949 $ 12,655 $ 237,604 Payer & Life Sciences 55,966 0 55,966 Total revenue $ 280,915 $ 12,655 $ 293,570 Six Months Ended June 30, 2021 (In thousands) Veradigm Unallocated Amounts Total Provider $ 212,035 $ 15,039 $ 227,074 Payer & Life Sciences 47,784 0 47,784 Total revenue $ 259,819 $ 15,039 $ 274,858 Contract Assets – Estimate of Credit Losses We adopted Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) on January 1, 2020 using the cumulative-effect adjustment transition method. The guidance required the recognition of lifetime estimated credit losses expected to occur for contract assets and trade receivables. The guidance also required that we pool assets with similar risk characteristics and consider current economic conditions when estimating losses. We segmented the contract asset population into pools based on their risk assessment. Risks related to contract assets are a customer’s inability to pay or bankruptcy. Each pool was defined by their internal credit assessment and business size. We also used each customer’s primary business unit in our pooling determination. This assessment provides information of the customer including size, segment and industry. The pools are aligned with management’s current review of financial performance. For the three and six months ended June 30, 2022, no adjustment to the pools was necessary. We utilized a loss-rate method to measure expected credit loss for each pool. The loss rate is calculated using a 24-month lookback period of credit memos and adjustments divided by the average contract asset balance for each pool during that period. We considered current economic conditions, including macroeconomic and inflationary trends and how the COVID-19 pandemic is impacting the global economy, internal forecasts, cash collection and credit memos written during the current period when assessing loss rates. We reviewed these factors and concluded that no adjustments should be made to the historical loss rate data. The June 30, 2022 analysis resulted in a reduction to the ending estimate of credit losses. Changes in the estimate of credit losses for contract assets are presented in the table below. Six Months Ended June 30, (In thousands) 2022 2021 Beginning balance $ 2,110 $ 2,110 Write-offs ( 345 ) 0 Ending balance $ 1,765 $ 2,110 Less: Contract assets, short-term 564 576 Total contract assets, long-term $ 1,201 $ 1,534 |
Accounts Receivable
Accounts Receivable | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Accounts Receivable | 3. Accounts Receivable Trade Accounts Receivable – Estimate of Credit Losses We adopted ASU 2016-13 on January 1, 2020 using the cumulative-effect adjustment transition method. Refer to Note 2, “Revenue from Contracts with Customers” for information regarding the adoption of ASU 2016-13. No adjustments were made to the pools or historical loss rate data for trade accounts receivable during the six months ended June 30, 2022. Changes in the estimate of credit losses for trade accounts receivable are presented in the table below. Six Months Ended June 30, (In thousands) 2022 2021 Beginning balance $ 13,360 $ 20,228 Current period provision 298 539 Write-offs ( 1,077 ) ( 1,021 ) Ending balance $ 12,581 $ 19,746 |
Leases
Leases | 6 Months Ended |
Jun. 30, 2022 | |
Lessee Disclosure [Abstract] | |
Leases | 4. Leases We determine whether an arrangement is a lease at inception. Assets leased under an operating lease arrangement are recorded in Right-of-use assets – operating leases and the associated lease liabilities are included in Current operating lease liabilities and Long-term operating lease liabilities within the consolidated balance sheets. Assets leased under finance lease arrangements are recorded within fixed assets and the associated lease liabilities are recorded within Accrued expenses and Other liabilities within the consolidated balance sheets. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the expected lease term. Since our lease arrangements do not provide an implicit rate, we use our incremental borrowing rate in conjunction with the market swap rate for the expected remaining lease term at the commencement date for new leases in determining the present value of future lease payments. Our expected lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. We have elected the group of practical expedients under Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) to forego assessing upon adoption: (1) whether any expired contracts are or contain leases; (2) the lease classification for any existing or expired leases and (3) any indirect costs that would have qualified for capitalization for any existing leases. We have lease agreements with lease and non-lease components, which are generally accounted for separately except for real estate leases, which we have elected to combine through a practical expedient under ASU 2016-02. Non-lease components for our leases typically consist of executory costs, and the practical expedient allows for executory costs to be recorded as lease payments. Additionally, for certain equipment leases, we apply a portfolio approach to effectively record right-of-use assets and liabilities. Our operating leases mainly include office leases, and our finance leases included office and computer equipment leases. As of December 31, 2021, we no longer have finance leases. Our finance leases in 2021 were not significant. Our operating leases have remaining lease terms up to 5 years, some of which include options to extend the leases for up to 5 years, which may include options to terminate the leases within 1 year . Operating costs associated with leased assets are as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost (1) $ 1,525 $ 1,893 $ 3,215 $ 3,824 Less: Sublease income ( 65 ) ( 74 ) ( 98 ) ( 157 ) Total operating lease costs $ 1,460 $ 1,819 $ 3,117 $ 3,667 (1) Operating lease costs are recognized on a straight-line basis and are included in Selling, general and administrative expenses within the consolidated statements of operations . Supplemental cash flow information for operating leases is as follows: (In thousands) Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,562 $ 3,585 Right-of-use assets obtained in exchange for operating lease obligations $ 273 $ 0 The balance sheet location and balances for operating leases are as follows: (In thousands, except lease term and discount rate) June 30, 2022 December 31, 2021 Right-of-use assets - operating leases $ 15,904 $ 18,324 Current operating lease liabilities $ 6,095 $ 6,133 Long-term operating lease liabilities $ 13,873 $ 16,754 Weighted average remaining lease term (in years) 4 5 Weighted average discount rate 3.3 % 3.4 % The future maturities of our leasing arrangements including lease and non-lease components are shown in the below table. The maturities are calculated using foreign currency exchange rates in effect as of June 30, 2022. June 30, 2022 (In thousands) Operating Leases Remainder of 2022 $ 3,318 2023 6,421 2024 3,706 2025 3,453 2026 2,835 Thereafter 1,581 Total lease liabilities 21,314 Less: Amount representing interest ( 1,346 ) Less: Short-term lease liabilities ( 6,095 ) Total Long-term lease liabilities $ 13,873 |
Business Combinations and Dives
Business Combinations and Divestitures | 6 Months Ended |
Jun. 30, 2022 | |
Business Combinations [Abstract] | |
Business Combinations and Divestitures | 5. Business Combinations and Divestitures Acquisitions On March 25, 2022 , we acquired Babel Health which engages in the business of designing, developing, selling and operating encounter data submission and reconciliation solutions. The base purchase price was $ 24.0 million, subject to adjustment for cash and net working capital balances, resulting in $ 24.5 million in cash paid ($ 24.0 million in net cash after accounting for the existing cash balance). The allocation of the purchase price is preliminary and subject to change. Accordingly, adjustments may be made to the values of assets and liabilities assumed as the valuation is finalized and additional information is obtained about the facts and circumstances that existed at the acquisition date. We expect to finalize the valuation and complete the purchase consideration allocation within the allowable measurement period. The management platform will provide managed health care plans with a tailored solution for the risk adjustment claims submission process. The business is included in our Veradigm reportable segment. The preliminary purchase price allocation of the fair value of the consideration transferred as of the acquisition date of March 25, 2022 is shown in the table below. The goodwill is expected to be deductible for tax purposes. (In thousands) Cash and cash equivalents $ 472 Accounts receivable, net 394 Prepaid expenses and other current assets 206 Fixed assets 48 Intangible assets 7,280 Goodwill 17,542 Accounts payable and accrued expenses ( 752 ) Deferred revenue ( 675 ) Other liabilities ( 5 ) Net assets acquired $ 24,510 The following table summarizes the estimated fair values of the identifiable intangible assets and their estimated useful lives: Useful Life Fair Value Description (In years) (In thousands) Customer Relationships 21 $ 4,640 Technology 7 2,600 Tradenames 1 40 $ 7,280 We incurred $ 0.2 million of acquisition costs during the three and six months ended June 30, 2022, which are included in Selling, general and administrative expenses in our consolidated statement of operations. The results of operations of Babel Health were not material to our consolidated results of operations for the three and six months ended June 30, 2022. Divestitures On May 2, 2022, we completed the sale of our Hospitals and Large Physician Practices business, including the Sunrise and TouchWorks solutions (the “Hospitals and Large Physician Practices Business”) to Altera Digital Health Inc. (formerly known as Harris Dawn Holdings Inc.), a Delaware corporation (“Altera”), a wholly-owned subsidiary of Constellation Software Inc., an Ontario corporation, pursuant to a purchase agreement (the “Altera Purchase Agreement”) by which Altera purchased substantially all of the assets of the Hospitals and Large Physician Practices Business. The total consideration for the Hospitals and Large Physician Practices Business was $ 670.0 million in cash paid at closing, with up to an additional $ 30.0 million of contingent consideration based on the Hospitals and Large Physician Practices Business’s revenue through calendar year 2023. Certain assets relating to the Hospitals and Large Physician Practices Business were excluded from the transaction and retained by the Company, as described in the Altera Purchase Agreement. In addition, Altera assumed certain liabilities related to the Hospitals and Large Physician Practices Business under the terms of the Altera Purchase Agreement. We realized a pre-tax gain upon the sale of $ 2.8 million, which is included in the Gain on sale of discontinued operations line in our consolidated statements of operations for the three and six months ended June 30, 2022. The divestiture is being treated as a discontinued operation as of June 30, 2022. Refer to Note 15, “Discontinued Operations” for additional information regarding the historical assets, liabilities and results of operations of the Hospitals and Large Physician Practices Business. On August 23, 2021, we completed the sale of substantially all of the assets of our 2bPrecise business to a third party for a non-controlling interest in the combined entity. We realized a pre-tax gain upon the sale of $ 8.4 million, which was included in the Gain on sale of businesses, net line in our consolidated statements of operations for the year ended December 31, 2021. The historical 2bPrecise business is presented in our “Unallocated Amounts” category. On December 31, 2020, we completed the sale of substantially all of the assets of our CarePort business to a subsidiary of WellSky Corp., a Delaware corporation (“WellSky”), pursuant to a purchase agreement (the “CarePort Purchase Agreement”). The total consideration for CarePort was $ 1.35 billion, which was subject to certain adjustments for liabilities assumed by WellSky and net working capital as described in the CarePort Purchase Agreement. We realized a pre-tax gain upon the sale of $ 933.9 million, which was included in the Gain on sale of discontinued operations line in our consolidated statements of operations for the year ended December 31, 2020. For the year ended December 31, 2021, we recorded a $ 0.6 million gain that primarily related to net working capital adjustments in the Gain on sale of discontinued operations line in our consolidated statements of operations. The divestiture was treated as a discontinued operation as of December 31, 2020. Refer to Note 15, “Discontinued Operations” for additional information. On December 31, 2020, we repaid $ 161.0 million of the Term Loan (as defined below) as a result of the sale, which was a mandatory prepayment in accordance with the Second Amended Credit Agreement (as defined below). On October 15, 2020, we completed the sale of substantially all of the assets of our EPSi TM business (“EPSi”) to Strata Decision Technology LLC, an Illinois limited liability company (“Strata”), and Roper Technologies, Inc., a Delaware corporation, pursuant to a purchase agreement (the “EPSi Purchase Agreement”). The total consideration for EPSi was $ 365.0 million, which was subject to certain adjustments for liabilities assumed by Strata and net working capital as described in the EPSi Purchase Agreement. We realized a pre-tax gain upon the sale of $ 222.6 million, which was included in the Gain on sale of discontinued operations line in our consolidated statements of operations for the year ended December 31, 2020. The divestiture was treated as a discontinued operation as of December 31, 2020 . Refer to Note 15, “Discontinued Operations” for additional information. On October 29, 2020, we repaid $ 19.0 million of the Term Loan (as defined below) as a result of the sale, which was a mandatory prepayment in accordance with the Second Amended Credit Agreement (as defined below). |
Fair Value Measurements and Lon
Fair Value Measurements and Long-term Investments | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Long-term Investments | 6. Fair Value Measurements and Long-term Investments Fair value measurements are based upon observable and unobservable inputs. Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2: Quoted prices for similar instruments in active markets with inputs that are observable, either directly or indirectly. Our Level 2 derivative financial instruments include foreign currency forward contracts valued based upon observable values of spot and forward foreign currency exchange rates. Level 3: Unobservable inputs are significant to the fair value of the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Our Level 3 instrument reflects the fair value of contingent consideration related to a completed acquisition. The fair value is based on a discounted cash flow analysis reflecting the likelihood of achieving specified performance measures or events and captures the contractual nature of the contingencies, commercial risk or time value of money. The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of the respective balance sheet dates: Balance Sheet June 30, 2022 December 31, 2021 (In thousands) Classifications Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Foreign exchange Prepaid expenses $ 0 $ 0 $ 0 $ 0 $ 0 $ 352 $ 0 $ 352 Total assets $ 0 $ 0 $ 0 $ 0 $ 0 $ 352 $ 0 $ 352 Foreign exchange Accrued $ 0 $ 54 $ 0 $ 54 $ 0 $ 0 $ 0 $ 0 Contingent consideration Accrued 0 0 0 0 0 0 19 19 Total liabilities $ 0 $ 54 $ 0 $ 54 $ 0 $ 0 $ 19 $ 19 The changes in our Level 3 liability measured at fair value on a recurring basis at June 30, 2022 is summarized as follows: (In thousands) Contingent Consideration Balance at December 31, 2021 $ 19 Payments ( 19 ) Balance at June 30, 2022 $ 0 Long-term Investments The following table summarizes our long-term equity investments which are included in Other assets in the accompanying consolidated balance sheets: Number of Investees Original Carrying Value at (In thousands, except for number of investees) at June 30, 2022 Cost June 30, 2022 December 31, 2021 Equity method investments (1) 4 $ 7,099 $ 11,579 $ 12,260 Cost with adjustments 7 47,114 49,109 49,293 Total long-term equity investments 11 $ 54,213 $ 60,688 $ 61,553 (1) Allscripts share of the earnings of our equity method investees is reported based on a one quarter lag. During the three and six months ended June 30, 2021, one of our third-party cost method investments converted its notes and we received 475 thousand shares in such third party as a result of the conversion. We also revalued our existing investment based on the note conversion share price. The note conversion and the revaluation of the existing investment resulted in a $ 9.7 million gain, which is included in the Other income, net line in our consolidated statements of operations for the three and six months ended June 30, 2021. As of June 30, 2022, it is not practicable to estimate the fair value of our non-marketable cost and equity method investments, primarily because of their illiquidity and restricted marketability. The factors we considered in trying to determine fair value include, but are not limited to, available financial information, the issuer’s ability to meet its current obligations, the issuer’s subsequent or planned raises of capital and observable price changes in orderly transactions. Impairment of Long-term Investments Each quarter, management performs an assessment of each of our investments on an individual basis to determine if there have been any declines in fair value. Based on our assessment, we determined no impairment charges were necessary for the six months ended June 30, 2022. Long-term Financial Liabilities Our long-term financial liabilities include amounts outstanding under our Senior Secured Credit Facility (as described in Note 10, “Debt”), with carrying values that approximate fair value since the interest rates approximate current market rates. Refer to Note 10, “Debt,” for further information regarding our long-term financial liabilities. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Stockholders' Equity | 7. Stockholders' Equity Stock-based Compensation Expense Stock-based compensation expense recognized during the three and six months ended June 30, 2022 and 2021 is included in our consolidated statements of operations as shown in the below table. Stock-based compensation expense includes both non-cash expense related to grants of stock-based awards as well as cash expense related to the employee discount applied to purchases of our common stock under our employee stock purchase plan. No stock-based compensation costs were capitalized during the three and six months ended June 30, 2022 and 2021. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Cost of revenue: Provider $ 221 $ 220 $ 538 $ 496 Payer & Life Sciences 37 49 25 106 Total cost of revenue 258 269 563 602 Selling, general and administrative expenses 8,309 2,335 13,798 4,888 Research and development 596 938 1,726 2,006 Total stock-based compensation expense $ 9,163 $ 3,542 $ 16,087 $ 7,496 Allscripts Long-Term Incentive Plan We measure stock-based compensation expense at the grant date based on the fair value of the award. We recognize the expense for service-based share awards over the requisite service period on a straight-line basis, net of estimated forfeitures. We recognize the expense for performance-based and market-based share awards over the vesting period under the accelerated attribution method, net of estimated forfeitures. In addition, we recognize stock-based compensation cost for awards with performance conditions if and when we conclude that it is probable that the performance conditions will be achieved. The fair value of service-based and performance-based restricted stock units is measured at the underlying closing share price of our common stock on the date of grant. The fair value of market-based restricted stock units is measured using the Monte Carlo pricing model. No stock options were granted during the six months ended June 30, 2022 and 2021. We granted stock-based awards as follows: Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Weighted-Average Weighted-Average Grant Date Grant Date (In thousands, except per share amounts) Shares Fair Value Shares Fair Value Service-based restricted stock units 1,221 $ 18.41 1,246 $ 18.44 Performance-based restricted stock units with a service condition 243 $ 18.56 243 $ 18.56 Market-based restricted stock units with a service condition 258 $ 21.90 258 $ 21.90 1,722 $ 18.95 1,747 $ 18.97 During the six months ended June 30, 2022 and the year ended December 31, 2021, 2.5 million and 2.2 million shares of common stock, respectively, were issued in connection with the release of restrictions on stock awards. Net Share-settlements Upon vesting, restricted stock units are generally net share-settled to cover the required withholding tax, and the remaining amount is converted into an equivalent number of shares of common stock. The majority of restricted stock units and awards that vested during the six months ended June 30, 2022 and 2021 were net-share settled such that we withheld shares with fair value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes and remitted the cash to the appropriate taxing authorities. Total payments for the employees' minimum statutory tax obligations to the taxing authorities are reflected as a financing activity within the accompanying consolidated statements of cash flows. The total shares withheld for the six months ended June 30, 2022 and 2021 were 1.3 million and 895 thousand, respectively, and were based on the value of the restricted stock units on their vesting date as determined by our closing stock price. These net-share settlements had the effect of share repurchases by us as they reduced the number of shares that would have otherwise been issued as a result of the vesting. Stock Repurchases On November 18, 2020, we announced that our Board of Directors approved a stock purchase program (the “2020 Program”) under which we may repurchase up to $ 300 million of our common stock through December 31, 2021. The 2020 Program replaced a previous program that was fully utilized. During the three and six months ended June 30, 2021, we repurchased 5.6 million shares of our common stock under the 2020 Program for a total of $ 101.5 million, net of commissions. This was inclusive of the 1.6 million shares we received at final settlement of the accelerated share repurchase program we entered into on November 30, 2020. Please refer to Part II, Item 8 of our Form 10-K for further details on the accelerated share repurchase program. On May 26, 2021, we announced that our Board approved a stock purchase program (the “2021 Program”) under which we may repurchase up to $ 350 million of our common stock. The 2021 Program replaced the 2020 Program that was fully utilized and did not have a termination date. During the three months ended June 30, 2021, we repurchased 11.5 million shares of our common stock under the 2021 Program for a total of $ 202.9 million, net of commissions. This was inclusive of the 9.1 million shares we received at initial settlement of the accelerated share repurchase program we entered into on June 14, 2021. Please refer to Part II, Item 8 of our Form 10-K for further details on the accelerated share repurchase program. On January 24, 2022, we announced that our Board of Directors approved a stock purchase program (the “2022 Program”) under which we may repurchase up to $ 250 million of our common stock, with no termination date. The 2022 Program replaced the 2021 Program that was fully utilized. During the three months ended June 30, 2022, we repurchased 5.5 million shares of our common stock under the 2022 Program for a total of $ 93.7 million, net of commissions. During the six months ended June 30, 2022, we repurchased 7.8 million shares of our common stock under the 2022 Program for a total of $ 143.4 million, net of commissions. The approximate dollar value of shares of our common stock that may yet be purchased under the 2022 Program was $ 106.8 million as of June 30, 2022. Any future stock repurchase transactions may be made through open market transactions, block trades, privately negotiated transactions (including accelerated share repurchase transactions) or other means, subject to market conditions. Any repurchase activity will depend on many factors such as our working capital needs, cash requirements for investments, debt repayment obligations, economic and market conditions at the time, including the price of our common stock, and other factors that we consider relevant. Our stock repurchase program may be accelerated, suspended, delayed or discontinued at any time. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | 8. Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average shares of common stock outstanding. For purposes of calculating diluted earnings (loss) per share, the numerator includes net income (loss) and any interest expense related to the 0.875% Convertible Senior Notes, net of tax, and the denominator includes both the weighted-average shares of common stock outstanding and dilutive common stock equivalents. Dilutive common stock equivalents consist of restricted stock unit awards and warrants calculated under the treasury stock method, as well as convertible notes calculated under the if-converted method. The calculations of earnings (loss) per share are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Basic earnings (loss) per Common Share: Income from continuing operations, net of tax $ 3,262 $ 26,143 $ 21,733 $ 30,443 (Loss) income from discontinued operations, net of tax ( 67,288 ) ( 4,217 ) ( 62,902 ) 540 Net (loss) income $ ( 64,026 ) $ 21,926 $ ( 41,169 ) $ 30,983 Weighted-average common shares outstanding 114,251 136,647 115,052 138,409 Basic earnings from continuing operations per Common Share $ 0.03 $ 0.19 $ 0.19 $ 0.22 Basic (loss) earnings from discontinued operations per Common Share ( 0.59 ) ( 0.03 ) ( 0.55 ) 0.00 Net (loss) earnings per Common Share $ ( 0.56 ) $ 0.16 $ ( 0.36 ) $ 0.22 Diluted earnings (loss) per Common Share: Income from continuing operations, net of tax $ 3,262 $ 26,143 $ 21,733 $ 30,443 Effect of assumed conversions: Plus: Interest expense, net of tax, associated with 0.875% Convertible Senior Notes 507 0 1,013 0 Income from continuing operations, net of tax after the effect of assumed conversions $ 3,769 $ 26,143 $ 22,746 $ 30,443 (Loss) income from discontinued operations, net of tax $ ( 67,288 ) $ ( 4,217 ) $ ( 62,902 ) $ 540 Weighted-average common shares outstanding 114,251 136,647 115,052 138,409 Plus: Dilutive effect of restricted stock unit awards, convertible notes and warrants 4,452 8,624 21,670 8,839 Weighted-average common shares outstanding assuming dilution 118,703 145,271 136,722 147,248 Diluted earnings from continuing operations per Common Share $ 0.03 $ 0.18 $ 0.17 $ 0.21 Diluted (loss) earnings from discontinued operations per Common Share ( 0.57 ) ( 0.03 ) ( 0.46 ) 0.00 Net (loss) earnings per Common Share $ ( 0.54 ) $ 0.15 $ ( 0.29 ) $ 0.21 The following restricted stock unit awards, convertible notes and warrants are not included in the computation of diluted earnings per share as the effect of including such restricted stock unit awards, convertible notes and warrants in the computation would be anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Shares subject to anti-dilutive restricted stock unit awards, convertible notes and warrants excluded from calculation 15,814 1,502 92 1,501 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | 9. Goodwill and Intangible Assets Goodwill and intangible assets consist of the following: June 30, 2022 December 31, 2021 Gross Gross Carrying Accumulated Intangible Carrying Accumulated Intangible (In thousands) Amount Amortization Assets, Net Amount Amortization Assets, Net Intangibles subject to amortization: Proprietary technology $ 252,083 $ ( 230,757 ) $ 21,326 $ 249,483 $ ( 227,408 ) $ 22,075 Customer contracts and relationships 402,125 ( 326,241 ) 75,884 397,445 ( 321,830 ) 75,615 Total $ 654,208 $ ( 556,998 ) $ 97,210 $ 646,928 $ ( 549,238 ) $ 97,690 Intangibles not subject to amortization: Registered trademarks $ 52,000 $ 52,000 Goodwill 524,149 506,607 Total $ 576,149 $ 558,607 Changes in the carrying amounts of goodwill by reportable segment for the six months ended June 30, 2022 were as follows: (In thousands) Veradigm Unallocated Total Balance as of December 31, 2021 467,630 38,977 506,607 Additions 17,542 0 17,542 Balance as of June 30, 2022 $ 485,172 $ 38,977 $ 524,149 There were no accumulated impairment losses associated with goodwill as of June 30, 2022 and December 31, 2021. |
Debt
Debt | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
Debt | 10. Debt Debt outstanding, excluding lease obligations, consists of the following: June 30, 2022 December 31, 2021 (In thousands) Principal Balance Unamortized Discount and Debt Issuance Costs Net Carrying Amount Principal Balance Unamortized Discount and Debt Issuance Costs Net Carrying Amount 0.875% Convertible Senior Notes (1) $ 207,911 $ 4,104 $ 203,807 $ 167,853 $ ( 9,057 ) $ 176,910 Senior Secured Credit Facility 0 3,912 ( 3,912 ) 175,000 1,848 173,152 Total debt $ 207,911 $ 8,016 $ 199,895 $ 342,853 $ ( 7,209 ) $ 350,062 (1) As of June 30, 2022, the principal balance is recognized in debt. As of December 31, 2021, the principal balance is $ 207,911 thousand; $ 167,853 thousand is recognized in debt and $ 40,058 thousand is recognized in additional paid-in capital. Interest expense consists of the following: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Interest expense $ 1,084 $ 1,079 $ 2,590 $ 2,367 Amortization of discounts and debt issuance costs 803 1,870 1,433 3,725 Total interest expense $ 1,887 $ 2,949 $ 4,023 $ 6,092 Interest expense related to the 0.875 % Convertible Senior Notes included in the table above consists of the following: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Coupon interest $ 455 $ 455 $ 910 $ 910 Amortization of discounts and debt issuance costs 228 1,474 456 2,933 Total interest expense related to the 0.875% Convertible Senior Notes $ 683 $ 1,929 $ 1,366 $ 3,843 Allscripts Senior Secured Credit Facility On April 29, 2022, Allscripts and Allscripts Healthcare LLC entered into a Third Amended and Restated Credit Agreement (the “Third Amended Credit Agreement”), with JPMorgan Chase Bank, N.A., as administrative agent and other lenders party thereto, amending and restating the Second Amended Credit Agreement. The Third Amended Credit Agreement provides for a $ 700.0 million senior secured revolving facility (the “New Revolving Facility”). A total of up to $ 50.0 million of the New Revolving Facility is available for the issuance of letters of credit, up to $ 25.0 million of the New Revolving Facility is available for swingline loans, and up to $ 100.0 million of the New Revolving Facility can be borrowed under certain foreign currencies. Proceeds from the borrowings under the Third Amended Credit Agreement were used for the refinancing of loans under the Second Amended Credit Agreement. As of June 30, 2022, $ 0.8 million in letters of credit were outstanding under the Third Amended Credit Agreement. No amounts under the New Revolving Facility were outstanding under the Third Amended Credit Agreement as of June 30, 2022. We were in compliance with all covenants under the Third Amended Credit Agreement as of June 30, 2022. As of June 30, 2022, we had $ 699.2 million available borrowing capacity, net of any outstanding letters of credit, under the New Revolving Facility. There can be no assurance that we will be able to draw on the full available balance of the New Revolving Facility if the financial institutions that have extended such credit commitments become unwilling or unable to fund such borrowings or if we are unable to maintain compliance with applicable covenants. 0.875% Convertible Senior Notes The issuance in December 2019 of the combined $ 218.0 million aggregate principal amount of the 0.875 % Convertible Senior Notes resulted in $ 0.7 million in debt issuance costs, which were paid in January 2020. We have separately recorded liability and equity components of the 0.875% Convertible Senior Notes, including any discounts and issuance costs, by allocating the proceeds from the issuance between the liability component and the embedded conversion option, or equity component. This allocation was completed by first estimating an interest rate at the time of issuance for similar notes that do not include an embedded conversion option. The semi-annual interest rate of 1.95 % was used to compute the initial fair value of the liability component, which totaled $ 177.9 million at the time of issuance. The excess of the initial proceeds received from the 0.875% Convertible Senior Notes and the $177.9 million liability component was allocated to the equity component, which totaled $ 40.1 million at the time of issuance before deducting any paid capped call fees. The equity component of $ 40.1 million, the $ 17.2 million in paid capped call fees and an allocation of $ 1.1 million in combined discounts and issuance costs were recorded in Additional paid-in capital within the consolidated balance sheets in December 2019. These were recorded as a discount and are to be accreted into interest expense through January 1, 2027 using the interest method. In June 2020, we paid $ 7.7 million to repurchase $ 10.1 million of the aggregate principal amount of the 0.875 % Convertible Senior Notes, which resulted in a $ 0.5 million gain. In connection with the repurchase, the capped call transaction was partially terminated, and we received $ 0.3 million, which resulted in a recognition of $ 0.8 million in equity to offset the capped call fees and a $ 0.5 million loss. On January 1, 2022, we adopted ASU 2020-06 using the modified retrospective transition method. The guidance simplifies the accounting for convertible instruments by removing major separation models required under GAAP. The guidance also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exceptions. As a result of the adoption of ASU 2020-06, the liability and equity components of the 0.875% Convertible Senior Notes are to be presented as a single liability as of January 1, 2022. Therefore, as of January 1, 2022, we decreased Additional paid-in capital by $ 38.9 million, which represented the $ 40.1 million equity component, offset by the $ 1.1 million in combined discounts and issuance costs. We increased Retained earnings by $ 12.5 million to reverse the accretion of interest expense related to the equity component that was recorded from December 2019 through December 2021. We also increased Long-term debt by $ 26.4 million, which represents the difference between the reduction to Additional paid-in capital and the increase in Retained earnings. The capped call fees remain in Additional paid-in capital within our consolidated balance sheet. The 0.875 % Convertible Senior Notes became convertible at the option of the holders during the first quarter of 2022. However, as of June 30, 2022, none of the 0.875 % Convertible Senior Notes have been converted. The remaining principal amount of the 0.875 % Convertible Senior Notes at June 30, 2022 totaled $ 207.9 million. The carrying value of the capped call fees at June 30, 2022 was $ 16.4 million. Future Debt Payments The following table summarizes future debt principal payment obligations as of June 30, 2022: (In thousands) Total Remainder 2023 2024 2025 2026 Thereafter 0.875% Convertible Senior Notes (1) $ 207,911 $ 0 $ 0 $ 0 $ 0 $ 0 $ 207,911 Total debt $ 207,911 $ 0 $ 0 $ 0 $ 0 $ 0 $ 207,911 (1) Amount represents the face value of the 0.875 % Convertible Senior Notes. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 11. Income Taxes We account for income taxes under FASB Accounting Standards Codification 740, “ Income Taxes” (“ASC 740”). We calculate the quarterly tax provision consistent with the guidance provided by ASC 740, whereby we forecast the estimated annual effective tax rate and then apply that rate to the year-to-date pre-tax book (loss) income. The effective tax rate may be subject to fluctuations during the year as new information is obtained, which may affect the assumptions used to estimate the annual effective rate, including factors such as the valuation allowances against deferred tax assets, the recognition or de-recognition of tax benefits related to uncertain tax positions, or changes in or the interpretation of tax laws in jurisdictions where the Company conducts business. There is no tax benefit recognized on certain of the net operating losses incurred due to insufficient evidence supporting the Company’s ability to use these losses in the future. The effective tax rates were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except effective tax rate) 2022 2021 2022 2021 (Loss) income from continuing operations before income taxes $ ( 5,317 ) $ 30,311 $ ( 1,267 ) $ 35,717 Income tax benefit (provision) $ 8,579 $ ( 4,168 ) $ 23,000 $ ( 5,274 ) Effective tax rate 161.4 % 13.8 % NM 14.8 % NM - We define “NM” as not meaningful for percentages greater than 200%. Our provision for income taxes differs from the tax computed at the U.S. federal statutory income tax rate primarily due to permanent differences, income attributable to foreign jurisdictions taxed at different rates, state taxes, tax credits and certain discrete items including a windfall benefit of $ 11.2 million for the six months ended June 30, 2022 and a windfall benefit of $ 4.6 million for the six months ended June 30, 2021. Our effective tax rates for the three and six months ended June 30, 2022, compared with the prior year comparable period, differ primarily due to the release of valuation allowance of $ 11.2 million in both the three and six months ended June 30, 2022. In addition, the permanent items, credits and the impact of foreign earnings had more impact on the pre-tax income of $ 4.1 million and pre-tax loss of $ 1.3 million in the three and six months ended June 30, 2022, compared to the impact of these items on a pre-tax income of $ 5.4 million and $ 35.7 million for the three and six months ended June 30, 2021. In evaluating our ability to recover our deferred tax assets within the jurisdictions from which they arise, we consider all available evidence, including scheduled reversals of deferred tax liabilities, tax-planning strategies, and results of recent operations. In evaluating the objective evidence that historical results provide, we consider three years of cumulative operating income (loss). During the six months ended June 30, 2022, we released valuation allowances of $ 11.2 million related to U.S. deferred tax assets. Our unrecognized income tax benefits were $ 30.5 million and $ 30.3 million as of June 30, 2022 and December 31, 2021, respectively. If any portion of our unrecognized tax benefits is recognized, it could impact our effective tax rate. The tax reserves are reviewed periodically and adjusted considering changing facts and circumstances, such as progress of tax audits, lapse of applicable statutes of limitations and changes in tax law. The sale of the Hospitals and Large Physician Practices Business included the majority of our foreign subsidiaries. In the quarter ended March 31, 2022, the assets and liabilities of these foreign subsidiaries were classified as held for sale on our consolidated balance sheet. As such, the company no longer considered the undistributed earnings of these foreign subsidiaries to be indefinitely invested. Therefore, in the three months ended March 31, 2022, we recorded a deferred tax asset of $ 7.0 million. The tax benefit of recording this deferred tax asset was included in discontinued operations. With the completed sale of the Hospitals and Large Physician Practices Business, this deferred tax asset was written off in the quarter ended June 30, 2022. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 12. Derivative Financial Instruments The following tables provide information about the fair values of our derivative financial instruments as of the respective balance sheet dates: June 30, 2022 Asset Derivatives Liability Derivatives (In thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives qualifying as cash flow hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 0 Accrued expenses $ 54 Total derivatives $ 0 $ 54 December 31, 2021 Asset Derivatives Liability Derivatives (In thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives qualifying as cash flow hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 352 Accrued expenses $ 0 Total derivatives $ 352 $ - Foreign Exchange Contracts We have entered into non-deliverable forward foreign currency exchange contracts with reputable banking counterparties to hedge a portion of our forecasted future Indian Rupee-denominated (“INR”) expenses against foreign currency fluctuations between the United States dollar and the INR. These forward contracts cover a percentage of forecasted monthly INR expenses over time. As of June 30, 2022, there were six forward contracts outstanding that when entered into were staggered to mature monthly starting in July 2022 and ending in December 2022 . In the future, we may enter into additional forward contracts to increase the amount of hedged monthly INR expenses or initiate hedges for monthly periods beyond December 2022. As of June 30, 2022, the notional amount for each of the outstanding forward contracts was 50 million INR, or the equivalent of $ 0.6 million, based on the exchange rate between the United States dollar and the INR in effect as of June 30, 2022. These amounts also approximate the forecasted future INR expenses we target to hedge in any one month in the future. As of June 30, 2022, we estimate that $ 0.1 million of net unrealized derivative losses included in accumulated other comprehensive income (loss) (“AOCI”) will be reclassified into income within the next 12 months . The following tables show the impact of derivative instruments designated as cash flow hedges on the consolidated statements of operations and the consolidated statements of comprehensive income (loss): Amount of Gain (Loss) Recognized Amount of Gain (Loss) Reclassified from AOCI into Income (In thousands) Three Months Six Months Location of Gain (Loss) Reclassified Three Months Six Months Foreign exchange contracts $ ( 155 ) $ ( 303 ) Cost of Revenue $ ( 1 ) $ 36 Selling, general and 0 24 Research and development $ ( 1 ) $ 42 Amount of Gain (Loss) Recognized Amount of Gain (Loss) Reclassified from AOCI into Income (In thousands) Three Months Six Months Location of Gain (Loss) Reclassified Three Months Six Months Foreign exchange contracts $ ( 54 ) $ 121 Cost of Revenue $ 290 $ 611 Selling, general and 167 351 Research and development $ 317 $ 668 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | 13. Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss Changes in the balances of each component included in AOCI are presented in the tables below. All amounts are net of tax. (In thousands) Foreign Currency Translation Adjustments Unrealized Net Gains (Losses) on Foreign Exchange Contracts Total Balance as of December 31, 2021 (1) $ ( 3,026 ) $ 261 $ ( 2,765 ) Other comprehensive (loss) income before ( 867 ) ( 226 ) ( 1,093 ) Net losses (gains) reclassified from accumulated 0 ( 76 ) ( 76 ) Net other comprehensive income (loss) ( 867 ) ( 302 ) ( 1,169 ) Balance as of June 30, 2022 (2) $ ( 3,893 ) $ ( 41 ) $ ( 3,934 ) (1) Net of taxes of $ 91 thousand for unrealized net gains on foreign exchange contract derivatives. (2) Net of taxes of $ 14 thousand for unrealized net losses on foreign exchange contract derivatives. (In thousands) Foreign Currency Translation Adjustments Unrealized Net Gains (Losses) on Foreign Exchange Contracts Total Balance as of December 31, 2020 (1) $ ( 2,957 ) $ 1,119 $ ( 1,838 ) Other comprehensive income (loss) before 520 90 610 Net (gains) losses reclassified from accumulated 0 ( 1,209 ) ( 1,209 ) Net other comprehensive income (loss) 520 ( 1,119 ) ( 599 ) Balance as of June 30, 2021 $ ( 2,437 ) $ 0 $ ( 2,437 ) (1) Net of taxes of $ 390 thousand for unrealized net gains on foreign exchange contract derivatives. Income Tax Effects Related to Components of Other Comprehensive Income (Loss) The following tables reflect the tax effects allocated to each component of other comprehensive income (loss) (“OCI”): Three Months Ended June 30, 2022 2021 (In thousands) Before-Tax Amount Tax Effect Net Amount Before-Tax Amount Tax Effect Net Amount Foreign currency translation adjustments $ ( 717 ) $ 0 $ ( 717 ) $ 421 $ 0 $ 421 Derivatives qualifying as cash flow hedges: Foreign exchange contracts: Net (losses) gains arising during the period ( 155 ) 39 ( 116 ) ( 54 ) 14 ( 40 ) Net losses (gains) reclassified into income 2 ( 1 ) 1 ( 774 ) 200 ( 574 ) Net change in unrealized (losses) gains on foreign exchange contracts ( 153 ) 38 ( 115 ) ( 828 ) 214 ( 614 ) Other comprehensive (loss) income $ ( 870 ) $ 38 $ ( 832 ) $ ( 407 ) $ 214 $ ( 193 ) Six Months Ended June 30, 2022 2021 (In thousands) Before-Tax Amount Tax Effect Net Amount Before-Tax Amount Tax Effect Net Amount Foreign currency translation adjustments $ ( 867 ) $ 0 $ ( 867 ) $ 520 $ 0 $ 520 Derivatives qualifying as cash flow hedges: Foreign exchange contracts: Net (losses) gains arising during the period ( 303 ) 77 ( 226 ) 121 ( 31 ) 90 Net (gains) losses reclassified into income ( 101 ) 25 ( 76 ) ( 1,630 ) 421 ( 1,209 ) Net change in unrealized (losses) gains on foreign exchange contracts ( 404 ) 102 ( 302 ) ( 1,509 ) 390 ( 1,119 ) Other comprehensive (loss) income $ ( 1,271 ) $ 102 $ ( 1,169 ) $ ( 989 ) $ 390 $ ( 599 ) |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | 14. Contingencies In addition to commitments and obligations in the ordinary course of business, we are currently subject to various legal proceedings and claims that have not been fully adjudicated. We intend to vigorously defend ourselves, as appropriate, in these matters. No less than quarterly, we review the status of each significant matter and assess our potential financial exposure. We accrue a liability for an estimated loss if the potential loss from any legal proceeding or claim is considered probable and the amount can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether the amount of an exposure is reasonably estimable, and accruals are based only on the information available to our management at the time the judgment is made. The outcome of legal proceedings is inherently uncertain, and we may incur substantial defense costs and expenses defending any of these matters. In the opinion of our management, the ultimate disposition of pending legal proceedings or claims will not have a material adverse effect on our consolidated financial position, liquidity or results of operations. However, if one or more of these legal proceedings were resolved against or settled by us in a reporting period for amounts in excess of our management’s expectations, our consolidated financial statements for that and subsequent reporting periods could be materially adversely affected. Additionally, the resolution of a legal proceeding against us could prevent us from offering our products and services to current or prospective clients or cause us to incur increased compliance costs, either of which could further adversely affect our operating results. The Enterprise Information Solutions business (the “EIS Business”) acquired from McKesson Corporation (“McKesson”) on October 2, 2017 is subject to a May 2017 civil investigative demand (“CID”) from the U.S. Attorney’s Office for the Eastern District of New York related to the Horizon Clinicals software. In August 2018, McKesson received an additional CID (together with the May 2017 CID, the “McKesson CIDs”), related to the Paragon software. The McKesson CIDs request documents and information related to the certification McKesson obtained in connection with the U.S. Department of Health and Human Services’ Electronic Health Record Incentive Program. McKesson has agreed, with respect to the McKesson CIDs, to indemnify Allscripts for amounts paid or payable to the government (or any private relator) involving any products or services marketed, sold or licensed by the EIS Business as of or prior to the closing of the acquisition. In October 2021, Allscripts received a CID seeking information about its acquisition of the EIS Business from McKesson and the Horizon Clinicals software. McKesson has agreed to assume defense of this CID. In May 2022, Allscripts completed the sale of the assets of its Hospital and Large Physician Practices Business to Altera. This divestiture included the sale of the Paragon software; however, the divestiture did not include the Horizon Clinicals software or liabilities arising from the McKesson CIDs. Practice Fusion, acquired by Allscripts on February 13, 2018, received in March 2017 a request for documents and information from the U.S. Attorney’s Office for the District of Vermont pursuant to a CID. Between April 2018 and June 2019, Practice Fusion received from the U.S. Department of Justice (the “DOJ”) seven additional requests for documents and information through four additional CIDs and three Health Insurance Portability and Accountability Act (“HIPAA”) subpoenas. The document and information requests received by Practice Fusion related to both the certification Practice Fusion obtained in connection with the U.S. Department of Health and Human Services’ Electronic Health Record Incentive Program and Practice Fusion’s compliance with the Anti-Kickback Statute (“AKS”) and HIPAA as it relates to certain business practices engaged in by Practice Fusion. In March 2019, Practice Fusion received a grand jury subpoena in connection with a criminal investigation related to Practice Fusion’s compliance with the AKS. On August 6, 2019, Practice Fusion reached an agreement in principle with the DOJ to resolve all of the DOJ’s outstanding civil and criminal investigations, including the investigation by the U.S. Attorney’s Office for the District of Vermont, and we announced that on January 27, 2020, Practice Fusion entered into a deferred prosecution agreement (the “Deferred Prosecution Agreement”) and various civil settlement agreements, including with the Medicaid programs for each U.S. state, the District of Columbia and Puerto Rico (collectively, the “Settlement Agreements”) resolving the investigations conducted by the DOJ and the U.S. Attorney’s Office. The Settlement Agreements required Practice Fusion to, among other things, pay a criminal fine of $ 25.3 million, a forfeiture payment of $ 959,700 and a civil settlement of $ 118.6 million, which includes $ 5.2 million designated for the state Medicaid program expenditures, all of which, as of December 31, 2020, were paid in full. The Deferred Prosecution Agreement required Practice Fusion to retain an “Oversight Organization” to oversee the Practice Fusion’s implementation of certain compliance measures and ongoing compliance efforts. On August 17, 2021, Practice Fusion’s initial Oversight Organization resigned, and on August 25, 2021, Practice Fusion received a notice from the U.S. Attorney’s Office for the District of Vermont stating Practice Fusion was in breach of the Deferred Prosecution Agreement due to such resignation. On September 17, 2021, Practice Fusion engaged a new Oversight Organization. On March 18, 2022, Practice Fusion reached a settlement with the U.S. Attorney’s Office concerning this claim, pursuant to which Practice Fusion agreed to pay $ 200,000 to the United States and extend the Deferred Prosecution Agreement by 11 weeks; Practice Fusion did not admit liability for any breach of the Deferred Prosecution Agreement. The settlement of $ 200,000 was paid by Practice Fusion on April 5, 2022. |
Discontinued Operations
Discontinued Operations | 6 Months Ended |
Jun. 30, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | 15. Discontinued Operations Hospitals and Large Physician Practices Discontinued Operation On May 2, 2022, we sold substantially all of the assets of the Hospitals and Large Physician Practices Business. The Hospitals and Large Physician Practices Business sale represented a strategic shift that had a major effect on our operations and financial results. As of June 30, 2022, we reported the Hospitals and Large Physician Practices Business as discontinued operations. Prior to the sale, the Hospitals and Large Physician Practices Business was part of the former Hospitals and Large Physician Practices reportable segment. The following table summarizes the major classes of assets and liabilities of the Hospitals and Large Physician Practices Business as reported on the consolidated balance sheets as of June 30, 2022 and December 31, 2021: (In thousands) June 30, 2022 December 31, 2021 Carrying amounts of major classes of assets associated with Hospitals and Large Physician Practices included as part of discontinued operations: Cash and cash equivalents $ 20,000 $ 55,834 Restricted cash 0 861 Accounts receivable, net of allowance of $ 16,584 as of December 31, 2021 0 155,447 Contract assets, net of allowance of $ 492 as of December 31, 2021 0 61,382 Prepaid expenses and other current assets 0 58,431 Total current assets attributable to discontinued operations 20,000 331,955 Fixed assets, net 0 38,083 Software development costs, net 0 97,416 Intangible assets, net 0 86,240 Goodwill 0 467,871 Deferred taxes, net 0 6,607 Contract assets - long-term, net of allowance of $ 739 as of December 31, 2021 0 28,623 Right-of-use assets - operating leases 0 50,585 Other assets 0 17,731 Total long-term assets attributable to discontinued operations $ 0 $ 793,156 Carrying amounts of major classes of liabilities associated with Hospitals and Large Physician Practices included as part of discontinued operations: Accounts payable $ 30,372 $ 11,555 Accrued expenses 0 38,007 Accrued compensation and benefits 0 61,167 Deferred revenue 0 205,152 Current operating lease liabilities 0 13,466 Total current liabilities attributable to discontinued operations 30,372 329,347 Deferred revenue long-term 0 2,568 Long-term operating lease liabilities 0 48,068 Other liabilities 0 270 Total long-term liabilities attributable to discontinued operations $ 0 $ 50,906 The following table summarizes the major income and expense line items of the Hospitals and Large Physician Practices Business as reported in the consolidated statements of operations for the three and six months ended June 30, 2022 and 2021. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Major income and expense line items related to Hospitals and Large Physician Practices: Revenue: Provider $ 70,569 $ 232,508 $ 284,799 $ 467,208 Total revenue 70,569 232,508 284,799 467,208 Cost of revenue: Provider 45,806 149,175 189,498 296,747 Total cost of revenue 45,806 149,175 189,498 296,747 Gross profit 24,763 83,333 95,301 170,461 Selling, general and administrative expenses 19,782 50,966 68,531 100,511 Research and development 8,130 30,277 31,986 58,790 Asset impairment charges 0 5,072 0 5,072 Amortization of intangible assets 88 3,461 3,538 6,921 Loss from discontinued operations for Hospitals and Large Physician Practices ( 3,237 ) ( 6,443 ) ( 8,754 ) ( 833 ) Other (loss) income, net ( 484 ) 229 12 468 Gain on sale of discontinued operations 2,765 0 2,765 0 Equity in net (loss) income of unconsolidated investments ( 76 ) 0 ( 76 ) 0 Loss from discontinued operations for Hospitals and Large Physician Practices before income taxes ( 1,032 ) ( 6,214 ) ( 6,053 ) ( 365 ) Income tax (provision) benefit ( 66,256 ) 1,976 ( 56,849 ) 420 (Loss) income from discontinued operations, net of tax for Hospitals and Large Physician Practices $ ( 67,288 ) $ ( 4,238 ) $ ( 62,902 ) $ 55 EPSi and CarePort Discontinued Operations During 2020, we implemented a strategic initiative to sell two of our businesses, EPSi and CarePort. Since both businesses were part of the same strategic initiative and were sold within the same period, the combined sale of EPSi and CarePort represented a strategic shift that had a major effect on our operations and financial results. As of December 31, 2020, these businesses were reported together as discontinued operations. On October 15, 2020, we completed the sale of our EPSi business. Prior to the sale, EPSi was part of the “Unallocated Amounts” category as it did not meet the requirements to be a reportable segment nor the criteria to be aggregated into our two reportable segments at this time. On its own, the divestiture of the EPSi business did not represent a strategic shift that had a major effect on our operations and financial results. However, the combined sale of EPSi and CarePort represented a strategic shift that had a major effect on our operations and financial results. Therefore, EPSi was treated as a discontinued operation. On December 31, 2020, we completed the sale of our CarePort business. Prior to the sale, CarePort was part of the former Data, Analytics and Care Coordination reportable segment. On its own, the divestiture of the CarePort business represented a strategic shift that had a major effect on our operations and financial results. The following table summarizes the major income and expense line items of EPSi and CarePort as reported in the consolidated statements of operations for the three and six months ended June 30, 2021. The activity during the three and six months ended June 30, 2021 relates to certain adjustments made in connection with the sale of EPSi and CarePort, primarily relating to net working capital adjustments that impacted the gain on the sale of the discontinued operations. Three Months Ended Six Months Ended (In thousands) June 30, 2021 June 30, 2021 Major income and expense line items related to EPSi and CarePort: Revenue: Provider $ 368 $ 0 Total revenue 368 0 Cost of revenue: Provider 316 ( 48 ) Total cost of revenue 316 ( 48 ) Gross profit 52 48 Selling, general and administrative expenses 9 74 Research and development 8 ( 32 ) Income from discontinued operations for EPSi and CarePort 35 6 Other income, net 1 1 Gain on sale of discontinued operations 0 647 Income from discontinued operations for EPSi and CarePort before income taxes 36 654 Income tax provision ( 15 ) ( 169 ) Income from discontinued operations, net of tax for EPSi and CarePort $ 21 $ 485 |
Business Segments
Business Segments | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Business Segments | 16. Business Segments Our two primary revenue streams are (i) provider revenue and (ii) payer and life sciences revenue. We primarily derive our provider revenues from sales of our proprietary software (either as a direct license sale or under a subscription delivery model), which also serves as the basis for our recurring service contracts for software support and maintenance and certain transaction-related services. In addition, we provide various other client services, including installation, and managed services, such as outsourcing, private cloud hosting and revenue cycle management. Payer and life sciences revenue primarily consists of sales of our integrated data systems solutions and related services to key healthcare stakeholders, including health plans and pharmaceutical companies, to help them improve the quality, efficiency and value of healthcare delivery. As of January 1, 2022, we had three operating segments: (i) Hospitals and Large Physician Practices, (ii) Veradigm and (iii) Certain Products (as defined below). The Hospitals and Large Physician Practices and Veradigm operating segments were equivalent to the two reportable segments described below. The Hospitals and Large Physician Practices segment derived its revenue from the sale of integrated clinical and financial management solutions, which primarily included EHR-related software, related installation, support and maintenance, outsourcing and private cloud hosting. The Veradigm segment derived its revenue from payer and life sciences solutions, which are mainly targeted at payers, life sciences companies and other key healthcare stakeholders. Additionally, revenue was derived from software applications for patient engagement and the sale of EHR software to single-specialty and small and mid-sized physician practices, including related clinical, financial, administrative and operational solutions. These solutions enabled clients to transition, analyze and coordinate care and improve the quality, efficiency and value of healthcare delivery across the entire care community. The “Unallocated Amounts” category consisted of the 2bPrecise business, certain products that were shifted from the previous Core Clinical and Financial Solutions reportable segment due to the organizational changes (“Certain Products”), transfer pricing revenues and certain corporate-related expenses. The amounts included in the “Unallocated Amounts” category for 2bPrecise and Certain Products did not meet the requirements to be reportable segments nor the criteria to be aggregated into the two reportable segments. On March 2, 2022, we entered into a purchase agreement to sell substantially all of the assets of our Hospitals and Large Physician Practices Business. As of March 31, 2022, the assets and liabilities related to the purchase agreement were classified as held for sale on our consolidated balance sheet. We also classified the related assets and liabilities in discontinued operations, as the Hospitals and Large Physician Practices Business disposition represented a strategic shift that had a major effect on our operations and financial results. As a result of the transaction, we realigned our reporting structure. As of March 31, 2022, we had two operating segments: (i) Veradigm and (ii) Certain Products. The Veradigm operating segment was the equivalent to our one reportable segment. On May 2, 2022, we completed the sale of the Hospitals and Large Physician Practices Business. As of June 30, 2022, our two operating segments and one reportable segment remain unchanged from the first quarter of 2022. The prior period segment disclosures below have been revised to conform to the current period presentation. Our chief operating decision maker uses segment revenues, gross profit and income (loss) from operations as measures of performance and to make decisions about the allocation of resources. We do not track our assets by segment. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Revenue: Veradigm $ 144,637 $ 133,449 280,915 259,819 Unallocated Amounts 6,261 7,757 12,655 15,039 Total revenue $ 150,898 $ 141,206 $ 293,570 $ 274,858 Gross profit: Veradigm $ 75,409 $ 63,641 144,604 122,264 Unallocated Amounts 4,073 4,778 8,359 9,072 Total gross profit $ 79,482 $ 68,419 $ 152,963 $ 131,336 Income (loss) from operations: Veradigm $ 23,974 $ 18,014 42,089 29,508 Unallocated Amounts ( 29,330 ) ( 1,196 ) ( 40,873 ) ( 4,961 ) Total (loss) income from operations $ ( 5,356 ) $ 16,818 $ 1,216 $ 24,547 |
Supplemental Disclosures
Supplemental Disclosures | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplemental Disclosures | 17. Supplemental Disclosures Supplemental Consolidated Statements of Cash Flows Information The majority of the restricted cash balance as of June 30, 2022 and 2021 represents lease deposits. June 30, (In thousands) 2022 2021 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ 500,164 $ 159,556 Restricted cash 1,307 1,307 Total cash, cash equivalents and restricted cash $ 501,471 $ 160,863 Six Months Ended June 30, (In thousands) 2022 2021 Supplemental non-cash information: Issuance of treasury stock to commercial partner $ 0 $ 534 |
Basis of Presentation and Sig_2
Basis of Presentation and Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of Allscripts Healthcare Solutions, Inc. (“Allscripts”) and its wholly-owned subsidiaries and controlled affiliates. All significant intercompany balances and transactions have been eliminated. Each of the terms “we,” “us,” “our” or the “Company” as used herein refers collectively to Allscripts Healthcare Solutions, Inc. and its wholly-owned subsidiaries and controlled affiliates, unless otherwise stated. |
Unaudited Interim Financial Information | Unaudited Interim Financial Information The unaudited interim consolidated financial statements as of and for the three and six months ended June 30, 2022 and 2021 have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim consolidated financial statements are unaudited and, in the opinion of our management, include all adjustments, consisting of normal recurring adjustments and accruals, necessary to present fairly the consolidated financial statements for the periods presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The consolidated results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the SEC's rules and regulations for interim reporting. The Company believes that the disclosures made are adequate to make these unaudited interim consolidated financial statements not misleading. They should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2021, as amended (our “Form 10-K”). |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Our estimates and assumptions consider the current macroeconomic trends and their implications of COVID-19 on our critical and significant accounting estimates. Actual results could differ materially from these estimates. |
Recently Adopted Accounting Pronouncements | Significant Accounting Policies There have been no changes to our significant accounting policies from those disclosed in our Form 10-K. Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2020-06, “ Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). The amendments in ASU 2020-06 simplify the accounting for convertible instruments by removing major separation models required under current GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exceptions and also requires the application of the if-converted method for calculating diluted earnings per share, whereas the treasury stock method is no longer permitted for convertible instruments. The standard is effective for public business entities, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years and interim periods within those fiscal years, beginning after December 15, 2021. We adopted ASU 2020-06 on January 1, 2022 using the modified retrospective method of transition, which resulted in an increase in long-term debt of $ 26.4 million, a decrease in additional paid-in capital of $ 38.9 million and an increase to retained earnings of $ 12.5 million, as of January 1, 2022. Refer to Note 10, “Debt” for additional information. |
Accounting Pronouncements Not Yet Adopted | Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued Accounting Standards Update No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”), which requires contract assets and contract liabilities (deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (“ASC”) 606, “ Revenue from Contracts with Customers” , as if it had originated the contracts. The new guidance creates an exception to the general recognition and measurement principles of ASC 805, “ Business Combinations” . The new standard should be applied prospectively and is effective for all public business entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The standard is effective for all other entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the effects of the adoption of ASU 2021-08 on our consolidated financial statements. We do not believe that any other recently issued, but not yet effective accounting standards, if adopted, will have a material impact on our consolidated financial statements. |
Revenue Recognition | Revenue Recognition We recognize revenue only when we satisfy an identified performance obligation (or bundle of obligations) by transferring control of a promised product or service to a customer. We consider a product or service to be transferred when a customer obtains control because a customer has sole possession of the right to use (or the right to direct the use of) the product or service for the remainder of its economic life or to consume the product or service in its own operations. We evaluate the transfer of control primarily from the customer’s perspective as this reduces the risk that revenue is recognized for activities that do not transfer control to the customer. The majority of our revenue is recognized over time because a customer continuously and simultaneously receives and consumes the benefits of our performance. The exceptions to this pattern are our sales of perpetual and term software licenses, and hardware, where we determined that a customer obtains control of the asset upon granting of access, delivery or shipment. |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Summary of Revenue Recognized on Various Performance Obligations and Elected Accounting Expedients | The breakdown of revenue recognized based on the origination of performance obligations and elected accounting expedients is presented in the tables below: (In thousands) Three Months Three Months Revenue related to deferred revenue balance at beginning of period $ 36,151 $ 25,901 Revenue related to new performance obligations satisfied during the period 45,306 55,990 Revenue recognized under "right-to-invoice" expedient 61,114 68,877 Reimbursed travel expenses, shipping and other revenue 101 130 Total revenue $ 142,672 $ 150,898 (In thousands) Three Months Three Months Revenue related to deferred revenue balance at beginning of period $ 29,401 $ 36,770 Revenue related to new performance obligations satisfied during the period 47,263 41,814 Revenue recognized under "right-to-invoice" expedient 56,811 62,105 Reimbursed travel expenses, shipping and other revenue 177 517 Total revenue $ 133,652 $ 141,206 |
Summary of Changes in Estimate of Credit Losses for Contract Assets | Changes in the estimate of credit losses for contract assets are presented in the table below. Six Months Ended June 30, (In thousands) 2022 2021 Beginning balance $ 2,110 $ 2,110 Write-offs ( 345 ) 0 Ending balance $ 1,765 $ 2,110 Less: Contract assets, short-term 564 576 Total contract assets, long-term $ 1,201 $ 1,534 |
Revenue by Segment [Member] | |
Summary of Revenue by Type and Nature of Revenue Stream by Reportable Segments | The tables below summarize revenue by type and nature of revenue stream as well as by our reportable segment. Three Months Ended June 30, 2022 (In thousands) Veradigm Unallocated Amounts Total Provider $ 112,678 $ 6,261 $ 118,939 Payer & Life Sciences 31,959 0 31,959 Total revenue $ 144,637 $ 6,261 $ 150,898 Three Months Ended June 30, 2021 (In thousands) Veradigm Unallocated Amounts Total Provider $ 108,147 $ 7,757 $ 115,904 Payer & Life Sciences 25,302 0 25,302 Total revenue $ 133,449 $ 7,757 $ 141,206 Six Months Ended June 30, 2022 (In thousands) Veradigm Unallocated Amounts Total Provider $ 224,949 $ 12,655 $ 237,604 Payer & Life Sciences 55,966 0 55,966 Total revenue $ 280,915 $ 12,655 $ 293,570 Six Months Ended June 30, 2021 (In thousands) Veradigm Unallocated Amounts Total Provider $ 212,035 $ 15,039 $ 227,074 Payer & Life Sciences 47,784 0 47,784 Total revenue $ 259,819 $ 15,039 $ 274,858 |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Trade Accounts Receivable [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Schedule of Changes in Estimate of Credit Losses for Trade Accounts Receivable | Changes in the estimate of credit losses for trade accounts receivable are presented in the table below. Six Months Ended June 30, (In thousands) 2022 2021 Beginning balance $ 13,360 $ 20,228 Current period provision 298 539 Write-offs ( 1,077 ) ( 1,021 ) Ending balance $ 12,581 $ 19,746 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Lessee Disclosure [Abstract] | |
Summary of Operating Costs Associated with Leased Assets | Operating costs associated with leased assets are as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost (1) $ 1,525 $ 1,893 $ 3,215 $ 3,824 Less: Sublease income ( 65 ) ( 74 ) ( 98 ) ( 157 ) Total operating lease costs $ 1,460 $ 1,819 $ 3,117 $ 3,667 (1) Operating lease costs are recognized on a straight-line basis and are included in Selling, general and administrative expenses within the consolidated statements of operations . |
Supplemental Cash Flow Information for Operating Leases | Supplemental cash flow information for operating leases is as follows: (In thousands) Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,562 $ 3,585 Right-of-use assets obtained in exchange for operating lease obligations $ 273 $ 0 |
Summary of Balance Sheet Location and Balances for Operating Leases | The balance sheet location and balances for operating leases are as follows: (In thousands, except lease term and discount rate) June 30, 2022 December 31, 2021 Right-of-use assets - operating leases $ 15,904 $ 18,324 Current operating lease liabilities $ 6,095 $ 6,133 Long-term operating lease liabilities $ 13,873 $ 16,754 Weighted average remaining lease term (in years) 4 5 Weighted average discount rate 3.3 % 3.4 % |
Summary of Future Maturities of Lease and Non-Lease Components | The future maturities of our leasing arrangements including lease and non-lease components are shown in the below table. The maturities are calculated using foreign currency exchange rates in effect as of June 30, 2022. June 30, 2022 (In thousands) Operating Leases Remainder of 2022 $ 3,318 2023 6,421 2024 3,706 2025 3,453 2026 2,835 Thereafter 1,581 Total lease liabilities 21,314 Less: Amount representing interest ( 1,346 ) Less: Short-term lease liabilities ( 6,095 ) Total Long-term lease liabilities $ 13,873 |
Business Combinations and Div_2
Business Combinations and Divestitures (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary purchase price allocation of the fair value of the consideration transferred as of the acquisition date of March 25, 2022 is shown in the table below. The goodwill is expected to be deductible for tax purposes. (In thousands) Cash and cash equivalents $ 472 Accounts receivable, net 394 Prepaid expenses and other current assets 206 Fixed assets 48 Intangible assets 7,280 Goodwill 17,542 Accounts payable and accrued expenses ( 752 ) Deferred revenue ( 675 ) Other liabilities ( 5 ) Net assets acquired $ 24,510 |
Schedule Of estimated fair values of the identifiable intangible assets and their estimated useful lives | The following table summarizes the estimated fair values of the identifiable intangible assets and their estimated useful lives: Useful Life Fair Value Description (In years) (In thousands) Customer Relationships 21 $ 4,640 Technology 7 2,600 Tradenames 1 40 $ 7,280 |
Fair Value Measurements and L_2
Fair Value Measurements and Long-term Investments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of the respective balance sheet dates: Balance Sheet June 30, 2022 December 31, 2021 (In thousands) Classifications Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Foreign exchange Prepaid expenses $ 0 $ 0 $ 0 $ 0 $ 0 $ 352 $ 0 $ 352 Total assets $ 0 $ 0 $ 0 $ 0 $ 0 $ 352 $ 0 $ 352 Foreign exchange Accrued $ 0 $ 54 $ 0 $ 54 $ 0 $ 0 $ 0 $ 0 Contingent consideration Accrued 0 0 0 0 0 0 19 19 Total liabilities $ 0 $ 54 $ 0 $ 54 $ 0 $ 0 $ 19 $ 19 |
Summary of Changes in Assets and Liability Measured at Fair Value on Recurring Basis | The changes in our Level 3 liability measured at fair value on a recurring basis at June 30, 2022 is summarized as follows: (In thousands) Contingent Consideration Balance at December 31, 2021 $ 19 Payments ( 19 ) Balance at June 30, 2022 $ 0 |
Long-Term Equity and Cost Method Investments [Member] | |
Summary of Long-term Equity Investments Included in Other Assets | The following table summarizes our long-term equity investments which are included in Other assets in the accompanying consolidated balance sheets: Number of Investees Original Carrying Value at (In thousands, except for number of investees) at June 30, 2022 Cost June 30, 2022 December 31, 2021 Equity method investments (1) 4 $ 7,099 $ 11,579 $ 12,260 Cost with adjustments 7 47,114 49,109 49,293 Total long-term equity investments 11 $ 54,213 $ 60,688 $ 61,553 (1) Allscripts share of the earnings of our equity method investees is reported based on a one quarter lag. |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Share-Based Compensation Expense | Stock-based compensation expense recognized during the three and six months ended June 30, 2022 and 2021 is included in our consolidated statements of operations as shown in the below table. Stock-based compensation expense includes both non-cash expense related to grants of stock-based awards as well as cash expense related to the employee discount applied to purchases of our common stock under our employee stock purchase plan. No stock-based compensation costs were capitalized during the three and six months ended June 30, 2022 and 2021. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Cost of revenue: Provider $ 221 $ 220 $ 538 $ 496 Payer & Life Sciences 37 49 25 106 Total cost of revenue 258 269 563 602 Selling, general and administrative expenses 8,309 2,335 13,798 4,888 Research and development 596 938 1,726 2,006 Total stock-based compensation expense $ 9,163 $ 3,542 $ 16,087 $ 7,496 |
Share-Based Awards Granted | We granted stock-based awards as follows: Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Weighted-Average Weighted-Average Grant Date Grant Date (In thousands, except per share amounts) Shares Fair Value Shares Fair Value Service-based restricted stock units 1,221 $ 18.41 1,246 $ 18.44 Performance-based restricted stock units with a service condition 243 $ 18.56 243 $ 18.56 Market-based restricted stock units with a service condition 258 $ 21.90 258 $ 21.90 1,722 $ 18.95 1,747 $ 18.97 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Calculations of Earnings (Loss) Per Share | The calculations of earnings (loss) per share are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Basic earnings (loss) per Common Share: Income from continuing operations, net of tax $ 3,262 $ 26,143 $ 21,733 $ 30,443 (Loss) income from discontinued operations, net of tax ( 67,288 ) ( 4,217 ) ( 62,902 ) 540 Net (loss) income $ ( 64,026 ) $ 21,926 $ ( 41,169 ) $ 30,983 Weighted-average common shares outstanding 114,251 136,647 115,052 138,409 Basic earnings from continuing operations per Common Share $ 0.03 $ 0.19 $ 0.19 $ 0.22 Basic (loss) earnings from discontinued operations per Common Share ( 0.59 ) ( 0.03 ) ( 0.55 ) 0.00 Net (loss) earnings per Common Share $ ( 0.56 ) $ 0.16 $ ( 0.36 ) $ 0.22 Diluted earnings (loss) per Common Share: Income from continuing operations, net of tax $ 3,262 $ 26,143 $ 21,733 $ 30,443 Effect of assumed conversions: Plus: Interest expense, net of tax, associated with 0.875% Convertible Senior Notes 507 0 1,013 0 Income from continuing operations, net of tax after the effect of assumed conversions $ 3,769 $ 26,143 $ 22,746 $ 30,443 (Loss) income from discontinued operations, net of tax $ ( 67,288 ) $ ( 4,217 ) $ ( 62,902 ) $ 540 Weighted-average common shares outstanding 114,251 136,647 115,052 138,409 Plus: Dilutive effect of restricted stock unit awards, convertible notes and warrants 4,452 8,624 21,670 8,839 Weighted-average common shares outstanding assuming dilution 118,703 145,271 136,722 147,248 Diluted earnings from continuing operations per Common Share $ 0.03 $ 0.18 $ 0.17 $ 0.21 Diluted (loss) earnings from discontinued operations per Common Share ( 0.57 ) ( 0.03 ) ( 0.46 ) 0.00 Net (loss) earnings per Common Share $ ( 0.54 ) $ 0.15 $ ( 0.29 ) $ 0.21 |
Anti-Dilutive Stock Options, Restricted Stock Unit Awards and Warrants Excluded from Computation of Diluted Earnings (Loss) Per Share | The following restricted stock unit awards, convertible notes and warrants are not included in the computation of diluted earnings per share as the effect of including such restricted stock unit awards, convertible notes and warrants in the computation would be anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Shares subject to anti-dilutive restricted stock unit awards, convertible notes and warrants excluded from calculation 15,814 1,502 92 1,501 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and intangible assets consist of the following: June 30, 2022 December 31, 2021 Gross Gross Carrying Accumulated Intangible Carrying Accumulated Intangible (In thousands) Amount Amortization Assets, Net Amount Amortization Assets, Net Intangibles subject to amortization: Proprietary technology $ 252,083 $ ( 230,757 ) $ 21,326 $ 249,483 $ ( 227,408 ) $ 22,075 Customer contracts and relationships 402,125 ( 326,241 ) 75,884 397,445 ( 321,830 ) 75,615 Total $ 654,208 $ ( 556,998 ) $ 97,210 $ 646,928 $ ( 549,238 ) $ 97,690 Intangibles not subject to amortization: Registered trademarks $ 52,000 $ 52,000 Goodwill 524,149 506,607 Total $ 576,149 $ 558,607 |
Changes in Carrying Amount of Goodwill | Changes in the carrying amounts of goodwill by reportable segment for the six months ended June 30, 2022 were as follows: (In thousands) Veradigm Unallocated Total Balance as of December 31, 2021 467,630 38,977 506,607 Additions 17,542 0 17,542 Balance as of June 30, 2022 $ 485,172 $ 38,977 $ 524,149 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Debt Instrument [Line Items] | |
Debt Outstanding Excluding Lease Obligations | Debt outstanding, excluding lease obligations, consists of the following: June 30, 2022 December 31, 2021 (In thousands) Principal Balance Unamortized Discount and Debt Issuance Costs Net Carrying Amount Principal Balance Unamortized Discount and Debt Issuance Costs Net Carrying Amount 0.875% Convertible Senior Notes (1) $ 207,911 $ 4,104 $ 203,807 $ 167,853 $ ( 9,057 ) $ 176,910 Senior Secured Credit Facility 0 3,912 ( 3,912 ) 175,000 1,848 173,152 Total debt $ 207,911 $ 8,016 $ 199,895 $ 342,853 $ ( 7,209 ) $ 350,062 (1) As of June 30, 2022, the principal balance is recognized in debt. As of December 31, 2021, the principal balance is $ 207,911 thousand; $ 167,853 thousand is recognized in debt and $ 40,058 thousand is recognized in additional paid-in capital. |
Interest Expense | Interest expense consists of the following: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Interest expense $ 1,084 $ 1,079 $ 2,590 $ 2,367 Amortization of discounts and debt issuance costs 803 1,870 1,433 3,725 Total interest expense $ 1,887 $ 2,949 $ 4,023 $ 6,092 |
Summary of Future Debt Payment Obligations | The following table summarizes future debt principal payment obligations as of June 30, 2022: (In thousands) Total Remainder 2023 2024 2025 2026 Thereafter 0.875% Convertible Senior Notes (1) $ 207,911 $ 0 $ 0 $ 0 $ 0 $ 0 $ 207,911 Total debt $ 207,911 $ 0 $ 0 $ 0 $ 0 $ 0 $ 207,911 (1) Amount represents the face value of the 0.875 % Convertible Senior Notes. |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Effective Tax Rates | The effective tax rates were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except effective tax rate) 2022 2021 2022 2021 (Loss) income from continuing operations before income taxes $ ( 5,317 ) $ 30,311 $ ( 1,267 ) $ 35,717 Income tax benefit (provision) $ 8,579 $ ( 4,168 ) $ 23,000 $ ( 5,274 ) Effective tax rate 161.4 % 13.8 % NM 14.8 % NM - We define “NM” as not meaningful for percentages greater than 200%. |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value and Balance Sheet Locations | The following tables provide information about the fair values of our derivative financial instruments as of the respective balance sheet dates: June 30, 2022 Asset Derivatives Liability Derivatives (In thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives qualifying as cash flow hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 0 Accrued expenses $ 54 Total derivatives $ 0 $ 54 December 31, 2021 Asset Derivatives Liability Derivatives (In thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives qualifying as cash flow hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 352 Accrued expenses $ 0 Total derivatives $ 352 $ - |
Derivatives Instruments Designated as Cash Flow Hedges | The following tables show the impact of derivative instruments designated as cash flow hedges on the consolidated statements of operations and the consolidated statements of comprehensive income (loss): Amount of Gain (Loss) Recognized Amount of Gain (Loss) Reclassified from AOCI into Income (In thousands) Three Months Six Months Location of Gain (Loss) Reclassified Three Months Six Months Foreign exchange contracts $ ( 155 ) $ ( 303 ) Cost of Revenue $ ( 1 ) $ 36 Selling, general and 0 24 Research and development $ ( 1 ) $ 42 Amount of Gain (Loss) Recognized Amount of Gain (Loss) Reclassified from AOCI into Income (In thousands) Three Months Six Months Location of Gain (Loss) Reclassified Three Months Six Months Foreign exchange contracts $ ( 54 ) $ 121 Cost of Revenue $ 290 $ 611 Selling, general and 167 351 Research and development $ 317 $ 668 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Loss | Changes in the balances of each component included in AOCI are presented in the tables below. All amounts are net of tax. (In thousands) Foreign Currency Translation Adjustments Unrealized Net Gains (Losses) on Foreign Exchange Contracts Total Balance as of December 31, 2021 (1) $ ( 3,026 ) $ 261 $ ( 2,765 ) Other comprehensive (loss) income before ( 867 ) ( 226 ) ( 1,093 ) Net losses (gains) reclassified from accumulated 0 ( 76 ) ( 76 ) Net other comprehensive income (loss) ( 867 ) ( 302 ) ( 1,169 ) Balance as of June 30, 2022 (2) $ ( 3,893 ) $ ( 41 ) $ ( 3,934 ) (1) Net of taxes of $ 91 thousand for unrealized net gains on foreign exchange contract derivatives. (2) Net of taxes of $ 14 thousand for unrealized net losses on foreign exchange contract derivatives. (In thousands) Foreign Currency Translation Adjustments Unrealized Net Gains (Losses) on Foreign Exchange Contracts Total Balance as of December 31, 2020 (1) $ ( 2,957 ) $ 1,119 $ ( 1,838 ) Other comprehensive income (loss) before 520 90 610 Net (gains) losses reclassified from accumulated 0 ( 1,209 ) ( 1,209 ) Net other comprehensive income (loss) 520 ( 1,119 ) ( 599 ) Balance as of June 30, 2021 $ ( 2,437 ) $ 0 $ ( 2,437 ) (1) Net of taxes of $ 390 thousand for unrealized net gains on foreign exchange contract derivatives. |
Income Tax Effects Related to Components of Other Comprehensive Income (Loss) | The following tables reflect the tax effects allocated to each component of other comprehensive income (loss) (“OCI”): Three Months Ended June 30, 2022 2021 (In thousands) Before-Tax Amount Tax Effect Net Amount Before-Tax Amount Tax Effect Net Amount Foreign currency translation adjustments $ ( 717 ) $ 0 $ ( 717 ) $ 421 $ 0 $ 421 Derivatives qualifying as cash flow hedges: Foreign exchange contracts: Net (losses) gains arising during the period ( 155 ) 39 ( 116 ) ( 54 ) 14 ( 40 ) Net losses (gains) reclassified into income 2 ( 1 ) 1 ( 774 ) 200 ( 574 ) Net change in unrealized (losses) gains on foreign exchange contracts ( 153 ) 38 ( 115 ) ( 828 ) 214 ( 614 ) Other comprehensive (loss) income $ ( 870 ) $ 38 $ ( 832 ) $ ( 407 ) $ 214 $ ( 193 ) Six Months Ended June 30, 2022 2021 (In thousands) Before-Tax Amount Tax Effect Net Amount Before-Tax Amount Tax Effect Net Amount Foreign currency translation adjustments $ ( 867 ) $ 0 $ ( 867 ) $ 520 $ 0 $ 520 Derivatives qualifying as cash flow hedges: Foreign exchange contracts: Net (losses) gains arising during the period ( 303 ) 77 ( 226 ) 121 ( 31 ) 90 Net (gains) losses reclassified into income ( 101 ) 25 ( 76 ) ( 1,630 ) 421 ( 1,209 ) Net change in unrealized (losses) gains on foreign exchange contracts ( 404 ) 102 ( 302 ) ( 1,509 ) 390 ( 1,119 ) Other comprehensive (loss) income $ ( 1,271 ) $ 102 $ ( 1,169 ) $ ( 989 ) $ 390 $ ( 599 ) |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Summary of Discontinued Operations in Financial Statements | The following table summarizes the major classes of assets and liabilities of the Hospitals and Large Physician Practices Business as reported on the consolidated balance sheets as of June 30, 2022 and December 31, 2021: (In thousands) June 30, 2022 December 31, 2021 Carrying amounts of major classes of assets associated with Hospitals and Large Physician Practices included as part of discontinued operations: Cash and cash equivalents $ 20,000 $ 55,834 Restricted cash 0 861 Accounts receivable, net of allowance of $ 16,584 as of December 31, 2021 0 155,447 Contract assets, net of allowance of $ 492 as of December 31, 2021 0 61,382 Prepaid expenses and other current assets 0 58,431 Total current assets attributable to discontinued operations 20,000 331,955 Fixed assets, net 0 38,083 Software development costs, net 0 97,416 Intangible assets, net 0 86,240 Goodwill 0 467,871 Deferred taxes, net 0 6,607 Contract assets - long-term, net of allowance of $ 739 as of December 31, 2021 0 28,623 Right-of-use assets - operating leases 0 50,585 Other assets 0 17,731 Total long-term assets attributable to discontinued operations $ 0 $ 793,156 Carrying amounts of major classes of liabilities associated with Hospitals and Large Physician Practices included as part of discontinued operations: Accounts payable $ 30,372 $ 11,555 Accrued expenses 0 38,007 Accrued compensation and benefits 0 61,167 Deferred revenue 0 205,152 Current operating lease liabilities 0 13,466 Total current liabilities attributable to discontinued operations 30,372 329,347 Deferred revenue long-term 0 2,568 Long-term operating lease liabilities 0 48,068 Other liabilities 0 270 Total long-term liabilities attributable to discontinued operations $ 0 $ 50,906 The following table summarizes the major income and expense line items of the Hospitals and Large Physician Practices Business as reported in the consolidated statements of operations for the three and six months ended June 30, 2022 and 2021. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Major income and expense line items related to Hospitals and Large Physician Practices: Revenue: Provider $ 70,569 $ 232,508 $ 284,799 $ 467,208 Total revenue 70,569 232,508 284,799 467,208 Cost of revenue: Provider 45,806 149,175 189,498 296,747 Total cost of revenue 45,806 149,175 189,498 296,747 Gross profit 24,763 83,333 95,301 170,461 Selling, general and administrative expenses 19,782 50,966 68,531 100,511 Research and development 8,130 30,277 31,986 58,790 Asset impairment charges 0 5,072 0 5,072 Amortization of intangible assets 88 3,461 3,538 6,921 Loss from discontinued operations for Hospitals and Large Physician Practices ( 3,237 ) ( 6,443 ) ( 8,754 ) ( 833 ) Other (loss) income, net ( 484 ) 229 12 468 Gain on sale of discontinued operations 2,765 0 2,765 0 Equity in net (loss) income of unconsolidated investments ( 76 ) 0 ( 76 ) 0 Loss from discontinued operations for Hospitals and Large Physician Practices before income taxes ( 1,032 ) ( 6,214 ) ( 6,053 ) ( 365 ) Income tax (provision) benefit ( 66,256 ) 1,976 ( 56,849 ) 420 (Loss) income from discontinued operations, net of tax for Hospitals and Large Physician Practices $ ( 67,288 ) $ ( 4,238 ) $ ( 62,902 ) $ 55 |
EPSi and CarePort [Member] | |
Summary of Discontinued Operations in Financial Statements | The following table summarizes the major income and expense line items of EPSi and CarePort as reported in the consolidated statements of operations for the three and six months ended June 30, 2021. The activity during the three and six months ended June 30, 2021 relates to certain adjustments made in connection with the sale of EPSi and CarePort, primarily relating to net working capital adjustments that impacted the gain on the sale of the discontinued operations. Three Months Ended Six Months Ended (In thousands) June 30, 2021 June 30, 2021 Major income and expense line items related to EPSi and CarePort: Revenue: Provider $ 368 $ 0 Total revenue 368 0 Cost of revenue: Provider 316 ( 48 ) Total cost of revenue 316 ( 48 ) Gross profit 52 48 Selling, general and administrative expenses 9 74 Research and development 8 ( 32 ) Income from discontinued operations for EPSi and CarePort 35 6 Other income, net 1 1 Gain on sale of discontinued operations 0 647 Income from discontinued operations for EPSi and CarePort before income taxes 36 654 Income tax provision ( 15 ) ( 169 ) Income from discontinued operations, net of tax for EPSi and CarePort $ 21 $ 485 |
Business Segments (Tables)
Business Segments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Revenues and Income (Loss) from Operations Related to Segment Within Reconciliation to Consolidated Amounts | Our chief operating decision maker uses segment revenues, gross profit and income (loss) from operations as measures of performance and to make decisions about the allocation of resources. We do not track our assets by segment. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Revenue: Veradigm $ 144,637 $ 133,449 280,915 259,819 Unallocated Amounts 6,261 7,757 12,655 15,039 Total revenue $ 150,898 $ 141,206 $ 293,570 $ 274,858 Gross profit: Veradigm $ 75,409 $ 63,641 144,604 122,264 Unallocated Amounts 4,073 4,778 8,359 9,072 Total gross profit $ 79,482 $ 68,419 $ 152,963 $ 131,336 Income (loss) from operations: Veradigm $ 23,974 $ 18,014 42,089 29,508 Unallocated Amounts ( 29,330 ) ( 1,196 ) ( 40,873 ) ( 4,961 ) Total (loss) income from operations $ ( 5,356 ) $ 16,818 $ 1,216 $ 24,547 |
Supplemental Disclosures (Table
Supplemental Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplemental Disclosures | The majority of the restricted cash balance as of June 30, 2022 and 2021 represents lease deposits. June 30, (In thousands) 2022 2021 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ 500,164 $ 159,556 Restricted cash 1,307 1,307 Total cash, cash equivalents and restricted cash $ 501,471 $ 160,863 Six Months Ended June 30, (In thousands) 2022 2021 Supplemental non-cash information: Issuance of treasury stock to commercial partner $ 0 $ 534 |
Basis of Presentation and Sig_3
Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||
Long-term Debt | $ 26,400 | ||
Additional paid-in capital | 38,900 | ||
Retained earnings | $ 738,864 | $ 12,500 | $ 767,556 |
Accounting Standards Update 2020-06 [Member] | |||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | ||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 01, 2022 | ||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Additional Information (Detail) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) Revenue_Stream | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Disaggregation of Revenue [Line Items] | |||||
Number of primary revenue streams | Revenue_Stream | 2 | ||||
Total unsatisfied performance obligations | $ 923 | $ 923 | |||
Selling, General and Administrative Expenses [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Capitalized Contract Cost Amortization | 2.9 | $ 2.9 | 5.8 | $ 6.2 | |
Prepaid Expenses and Other Current Assets [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Capitalized Contract Cost, Gross | 10.2 | 10.2 | $ 8.1 | ||
Other Assets [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Capitalized Contract Cost, Gross | $ 11.9 | $ 11.9 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Summary of Revenue Recognized on Various Performance Obligations and Elected Accounting Expedients (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | ||||||
Revenue related to deferred revenue balance at beginning of period | $ 25,901 | $ 36,151 | $ 36,770 | $ 29,401 | ||
Revenue related to new performance obligations satisfied during the period | 55,990 | 45,306 | 41,814 | 47,263 | ||
Revenue recognized under "right-to-invoice" expedient | 68,877 | 61,114 | 62,105 | 56,811 | ||
Reimbursed travel expenses, shipping and other revenue | 130 | 101 | 517 | 177 | ||
Total revenue | $ 150,898 | $ 142,672 | $ 141,206 | $ 133,652 | $ 293,570 | $ 274,858 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - Summary of Revenue by Type and Nature of Revenue Stream by Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | $ 150,898 | $ 142,672 | $ 141,206 | $ 133,652 | $ 293,570 | $ 274,858 |
Unallocated Amounts [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 6,261 | 7,757 | 12,655 | 15,039 | ||
Veradigm [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 144,637 | 133,449 | 280,915 | 259,819 | ||
Veradigm [Member] | Operating Segments [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 144,637 | 133,449 | 280,915 | 259,819 | ||
Provider [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 118,939 | 115,904 | 237,604 | 227,074 | ||
Provider [Member] | Unallocated Amounts [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 6,261 | 7,757 | 12,655 | 15,039 | ||
Provider [Member] | Veradigm [Member] | Operating Segments [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 112,678 | 108,147 | 224,949 | 212,035 | ||
Payer & Life Sciences | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 31,959 | 25,302 | 55,966 | 47,784 | ||
Payer & Life Sciences | Unallocated Amounts [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | 0 | 0 | 0 | 0 | ||
Payer & Life Sciences | Veradigm [Member] | Operating Segments [Member] | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Total revenue | $ 31,959 | $ 25,302 | $ 55,966 | $ 47,784 |
Revenue from Contracts with C_6
Revenue from Contracts with Customers - Summary of Changes in Estimate of Credit Losses for Contract Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |||
Beginning Balance | $ 2,110 | $ 2,110 | |
Write-offs | 345 | 0 | |
Ending balance | 1,765 | 2,110 | |
Less: Contract assets, short-term | 564 | 576 | $ 576 |
Total contract assets, long-term | $ 1,201 | $ 1,534 | $ 1,534 |
Accounts Receivable - Schedule
Accounts Receivable - Schedule of Changes in Estimate of Credit Losses for Trade Accounts Receivable (Detail) - Trade Accounts Receivable [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Accounts Notes And Loans Receivable [Line Items] | ||
Beginning Balance | $ 13,360 | $ 20,228 |
Current period provision | 298 | 539 |
Write-offs | (1,077) | (1,021) |
Ending Balance | $ 12,581 | $ 19,746 |
Leases - Additional Information
Leases - Additional Information (Detail) - Maximum [Member] | 6 Months Ended |
Jun. 30, 2022 | |
Lessee Lease Description [Line Items] | |
Operating leases, remaining lease terms | 5 years |
Operating leases, options to extend leases term | 5 years |
Operating leases, options to terminate leases term | 1 year |
Leases - Summary of Operating C
Leases - Summary of Operating Costs Associated with Leased Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Leases [Abstract] | |||||
Operating lease cost | [1] | $ 1,525 | $ 1,893 | $ 3,215 | $ 3,824 |
Less: Sublease income | (65) | (74) | (98) | (157) | |
Total operating lease costs | $ 1,460 | $ 1,819 | $ 3,117 | $ 3,667 | |
[1] Operating lease costs are recognized on a straight-line basis and are included in Selling, general and administrative expenses within the consolidated statements of operations |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information for Operating Leases (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 3,562 | $ 3,585 |
Right-of-use assets obtained in exchange for operating lease obligations | $ 273 | $ 0 |
Leases - Summary of Balance She
Leases - Summary of Balance Sheet Location and Balances for Operating Leases (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
Right-of-use assets - operating leases | $ 15,904 | $ 18,324 |
Current operating lease liabilities | 6,095 | 6,133 |
Long-term operating lease liabilities | $ 13,873 | $ 16,754 |
Weighted average remaining lease term (in years) | 4 years | 5 years |
Weighted average discount rate | 3.30% | 3.40% |
Leases - Summary of Future Matu
Leases - Summary of Future Maturities of Lease and Non-Lease Components (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Operating Leases [Abstract] | ||
Operating Leases, Remainder of 2022 | $ 3,318 | |
Operating Leases, 2023 | 6,421 | |
Operating Leases, 2024 | 3,706 | |
Operating Leases, 2025 | 3,453 | |
Operating Leases, 2026 | 2,835 | |
Operating Leases, Thereafter | 1,581 | |
Operating Leases, Total lease liabilities | 21,314 | |
Operating Leases, Less: Amount representing interest | (1,346) | |
Operating Leases, Less: Short-term lease liabilities | (6,095) | $ (6,133) |
Operating Leases, Total Long-term lease liabilities | $ 13,873 | $ 16,754 |
Business Combinations and Div_3
Business Combinations and Divestitures - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
May 02, 2022 | Mar. 25, 2022 | Aug. 23, 2021 | Dec. 31, 2020 | Oct. 29, 2020 | Oct. 15, 2020 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Business Acquisition [Line Items] | ||||||||||
Business combination, acquisition related costs | $ 200 | |||||||||
Cash | $ 24,500 | |||||||||
Purchase price in cash | 24,000 | |||||||||
Intangible assets | $ 7,280 | 7,280 | ||||||||
Goodwill | 524,149 | 524,149 | $ 506,607 | |||||||
Deferred taxes, net | 10,861 | 10,861 | 16,625 | |||||||
2bPrecise [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Pre-tax gain (loss) on sale of business | $ 8,400 | |||||||||
CarePort Purchase Agreement [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Pre-tax gain (loss) on sale of business | $ 600 | |||||||||
CarePort Purchase Agreement [Member] | WellSky Corp [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Pre-tax gain (loss) on sale of business | $ 933,900 | |||||||||
Sale of business unit | 1,350,000 | |||||||||
CarePort Purchase Agreement [Member] | WellSky Corp [Member] | Senior Secured Term Loan [Member] | Second Amended Credit Agreement [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Prepayment of debt | $ 161,000 | |||||||||
EPSi Purchase Agreement [Member] | Strata Decision Technology LLC [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Pre-tax gain (loss) on sale of business | $ 222,600 | |||||||||
Sale of business unit | $ 365,000 | |||||||||
EPSi Purchase Agreement [Member] | Strata Decision Technology LLC [Member] | Senior Secured Term Loan [Member] | Second Amended Credit Agreement [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Prepayment of debt | $ 19,000 | |||||||||
Hospitals and Large Physician Practices business [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Pre-tax gain (loss) on sale of business | $ 2,800 | $ 2,800 | ||||||||
Babel Health [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Total consideration for Babel Health | $ 24,000 | |||||||||
Harris Dawn Holdings Inc. [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Sale of business unit | $ 670,000 | |||||||||
Additional cash | $ 30,000 | |||||||||
American College of Cardiology [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Date of acquisition | Mar. 25, 2022 |
Business Combinations and Div_4
Business Combinations and Divestitures - Schedule of Assets Acquired and Liabilities Assumed (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Business Combinations [Abstract] | |
Cash and cash equivalents | $ 472 |
Accounts receivable, net | 394 |
Prepaid expenses and other current assets | 206 |
Fixed assets | 48 |
Intangible assets | 7,280 |
Goodwill | 17,542 |
Accounts payable and accrued expenses | 752 |
Deferred revenue | 675 |
Other liabilities | 5 |
Net assets acquired | $ 24,510 |
Business Combinations and Div_5
Business Combinations and Divestitures - Schedule of Acquired Intangible Assets Amortization (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Business Acquisition [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 7,280 |
Trade Names [Member] | |
Business Acquisition [Line Items] | |
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life | 1 year |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 40 |
Customer Relationships [Member] | |
Business Acquisition [Line Items] | |
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life | 21 years |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 4,640 |
Technology [Member] | |
Business Acquisition [Line Items] | |
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life | 7 years |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,600 |
Fair Value Measurements and L_3
Fair Value Measurements and Long-term Investments - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Prepaid expenses and other current assets | $ 91,521 | $ 60,511 |
Total assets | 0 | 352 |
Total liabilities | 54 | 19 |
Level 1 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 352 |
Total liabilities | 54 | 0 |
Level 3 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 19 |
Foreign exchange derivative assets [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Prepaid expenses and other current assets | 0 | 352 |
Accrued expenses | 54 | 0 |
Foreign exchange derivative assets [Member] | Level 1 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Prepaid expenses and other current assets | 0 | 0 |
Accrued expenses | 0 | 0 |
Foreign exchange derivative assets [Member] | Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Prepaid expenses and other current assets | 0 | 352 |
Accrued expenses | 54 | 0 |
Foreign exchange derivative assets [Member] | Level 3 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Prepaid expenses and other current assets | 0 | 0 |
Accrued expenses | 0 | 0 |
Contingent Consideration Current [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Accrued expenses | 0 | 19 |
Contingent Consideration Current [Member] | Level 1 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Accrued expenses | 0 | 0 |
Contingent Consideration Current [Member] | Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Accrued expenses | 0 | 0 |
Contingent Consideration Current [Member] | Level 3 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Accrued expenses | $ 0 | $ 19 |
Fair Value Measurements and L_4
Fair Value Measurements and Long-term Investments - Summary of Changes in Liability Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Inputs, Level 3 [Member] - Contingent Consideration [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at December 31, 2021 | $ 19 |
Payments | (19) |
Balance at June 30, 2022 | $ 0 |
Fair Value Measurements and L_5
Fair Value Measurements and Long-term Investments - Summary of Long-term Equity Investments Included in Other Assets (Detail) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) Investment | Dec. 31, 2021 USD ($) | ||
Fair Value Disclosures [Abstract] | |||
Equity method investments, Number of Investees | Investment | [1] | 4 | |
Cost with adjustments, Number of investees | Investment | 7 | ||
Total long-term equity investments, Number of Investees | Investment | 11 | ||
Equity method investments, Original Cost | [1] | $ 7,099 | |
Cost with adjustments, Original Cost | 47,114 | ||
Total long-term equity investments, Original Cost | 54,213 | ||
Equity method investments, Carrying Value | [1] | 11,579 | $ 12,260 |
Cost with adjustments, Carrying Value | 49,109 | 49,293 | |
Total long-term equity investments, Carrying Value | $ 60,688 | $ 61,553 | |
[1] Allscripts share of the earnings of our equity method investees is reported based on a one quarter lag. |
Fair Value Measurements and L_6
Fair Value Measurements and Long-term Investments - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Impairment of long-term investments | $ 0 | |
Third-party Cost Method Investments [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Conversion of notes into shares | 475 | |
Third-party Cost Method Investments [Member] | Other Income (Loss), Net [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Gain on note conversion and revaluation of existing investment | $ 9,700 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jan. 24, 2022 | May 26, 2021 | Nov. 18, 2020 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Class Of Stock [Line Items] | ||||||||
Capitalized stock-based compensation costs | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Stock options granted | 0 | 0 | ||||||
Share issued, exercise of options and release of stock awards | 2,500,000 | 2,200,000 | ||||||
Shares settled for tax withholding | 1,300,000 | 895,000 | ||||||
Common stock repurchased, amount | $ 143,372,000 | $ 308,953,000 | ||||||
2020 Stock Purchase Program [Member] | ||||||||
Class Of Stock [Line Items] | ||||||||
Common stock repurchased, amount | $ 101,500,000 | $ 101,500,000 | ||||||
Common stock repurchased, shares | 5,600,000 | 1,600,000 | 5,600,000 | |||||
Common stock available to repurchase | $ 300,000,000 | |||||||
2021 Stock Purchase Program [Member] | ||||||||
Class Of Stock [Line Items] | ||||||||
Common stock repurchased, amount | $ 202,900,000 | |||||||
Common stock repurchased, shares | 11,500,000 | 9,100,000 | ||||||
Common stock available to repurchase | $ 350,000,000 | |||||||
Previous Program [Member] | ||||||||
Class Of Stock [Line Items] | ||||||||
Common stock repurchased, amount | 93,700,000 | |||||||
Accelerated Share Repurchase Agreement [Member] | ||||||||
Class Of Stock [Line Items] | ||||||||
Shares of common stock yet to be repurchased, amount | $ 106,800,000 | $ 106,800,000 | ||||||
Two Thousand Twenty Two Stock Purchase Program | ||||||||
Class Of Stock [Line Items] | ||||||||
Common stock repurchased, amount | $ 143,400,000 | |||||||
Common stock repurchased, shares | 5,500,000 | 7,800,000 | ||||||
Common stock available to repurchase | $ 250,000,000 |
Stockholders' Equity - Stock-Ba
Stockholders' Equity - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation expense | $ 9,163 | $ 3,542 | $ 16,087 | $ 7,496 |
Cost of revenue [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 258 | 269 | 563 | 602 |
Cost of revenue [Member] | Provider [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 221 | 220 | 538 | 496 |
Cost of revenue [Member] | Payer & Life Sciences | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 37 | 49 | 25 | 106 |
Selling, General and Administrative Expenses [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 8,309 | 2,335 | 13,798 | 4,888 |
Research and development [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation expense | $ 596 | $ 938 | $ 1,726 | $ 2,006 |
Stockholders' Equity - Stock-_2
Stockholders' Equity - Stock-Based Awards Granted (Detail) - $ / shares shares in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 | Jun. 30, 2022 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Shares, granted | 1,722 | 1,747 |
Weighted-Average Grant Date Fair Value, granted | $ 18.95 | $ 18.97 |
Service-Based Restricted Stock Units [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Shares, granted | 1,221 | 1,246 |
Weighted-Average Grant Date Fair Value, granted | $ 18.41 | $ 18.44 |
Performance-Based Restricted Stock Units with a Service Condition [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Shares, granted | 243 | 243 |
Weighted-Average Grant Date Fair Value, granted | $ 18.56 | $ 18.56 |
Market-Based Restricted Stock Units with a Service Condition [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Shares, granted | 258 | 258 |
Weighted-Average Grant Date Fair Value, granted | $ 21.90 | $ 21.90 |
Earnings (Loss) Per Share - Cal
Earnings (Loss) Per Share - Calculations of Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Basic earnings (loss) per Common Share: | ||||
Income from continuing operations, net of tax | $ 3,262 | $ 26,143 | $ 21,733 | $ 30,443 |
(Loss) income from discontinued operations, net of tax | (67,288) | (4,217) | (62,902) | 540 |
Net (loss) income | $ (64,026) | $ 21,926 | $ (41,169) | $ 30,983 |
Weighted-average common shares outstanding | 114,251 | 136,647 | 115,052 | 138,409 |
Basic earnings from continuing operations per Common Share | $ 0.03 | $ 0.19 | $ 0.19 | $ 0.22 |
Basic (loss) earnings from discontinued operations per Common Share | (0.59) | (0.03) | (0.55) | 0 |
Net (loss) earnings per Common Share - Basic | $ (0.56) | $ 0.16 | $ (0.36) | $ 0.22 |
Diluted earnings (loss) per Common Share: | ||||
Income from continuing operations | $ 3,262 | $ 26,143 | $ 21,733 | $ 30,443 |
Plus: Interest expense, net of tax, associated with 0.875% Convertible Senior Notes | 507 | 0 | 1,013 | 0 |
Income (loss) from continuing operations, net of tax after the effect of assumed conversions | 3,769 | 26,143 | 22,746 | 30,443 |
(Loss) income from discontinued operations, net of tax | $ (67,288) | $ (4,217) | $ (62,902) | $ 540 |
Weighted-average common shares outstanding | 114,251 | 136,647 | 115,052 | 138,409 |
Plus: Dilutive effect of restricted stock unit awards, convertible notes and warrants | 4,452 | 8,624 | 21,670 | 8,839 |
Weighted-average common shares outstanding assuming dilution | 118,703 | 145,271 | 136,722 | 147,248 |
Diluted earnings from continuing operations per Common Share | $ 0.03 | $ 0.18 | $ 0.17 | $ 0.21 |
Diluted (loss) earnings from discontinued operations per Common Share | (0.57) | (0.03) | (0.46) | 0 |
Net (loss) earnings per Common Share - Diluted | $ (0.54) | $ 0.15 | $ (0.29) | $ 0.21 |
Earnings (Loss) Per Share - Ant
Earnings (Loss) Per Share - Anti-Dilutive Stock Options, Restricted Stock Unit Awards and Warrants Excluded from Computation of Diluted Earnings (Loss) Per Share (Detail) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Earnings Per Share [Abstract] | ||||
Shares subject to anti-dilutive restricted stock unit awards and warrants excluded from calculation | 15,814 | 1,502 | 92 | 1,501 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule Of Goodwill And Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 654,208 | $ 646,928 |
Accumulated Amortization | (556,998) | (549,238) |
Intangible Assets, Net | 97,210 | 97,690 |
Registered trademarks | 52,000 | 52,000 |
Goodwill | 524,149 | 506,607 |
Total | 576,149 | 558,607 |
Proprietary Technology [Member] | ||
Schedule Of Goodwill And Intangible Assets [Line Items] | ||
Gross Carrying Amount | 252,083 | 249,483 |
Accumulated Amortization | (230,757) | (227,408) |
Intangible Assets, Net | 21,326 | 22,075 |
Customer Contracts and Relationships [Member] | ||
Schedule Of Goodwill And Intangible Assets [Line Items] | ||
Gross Carrying Amount | 402,125 | 397,445 |
Accumulated Amortization | (326,241) | (321,830) |
Intangible Assets, Net | $ 75,884 | $ 75,615 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Goodwill [Line Items] | |
Goodwill | $ 506,607 |
Additions | 17,542 |
Goodwill | 524,149 |
Veradigm [Member] | Operating Segments [Member] | |
Goodwill [Line Items] | |
Goodwill | 467,630 |
Additions | 17,542 |
Goodwill | 485,172 |
Unallocated [Member] | Operating Segments [Member] | |
Goodwill [Line Items] | |
Goodwill | 38,977 |
Additions | 0 |
Goodwill | $ 38,977 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Accumulated impairment losses associated with goodwill | $ 0 | $ 0 |
Debt - Debt Outstanding Excludi
Debt - Debt Outstanding Excluding Lease Obligations (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Debt instrument principal amount | $ 207,911 | $ 342,853 |
Unamortized Discount and Debt Issuance Costs | 8,016 | (7,209) |
Net Carrying Amount | 199,895 | 350,062 |
0.875% Convertible Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument principal amount | 207,911 | 167,853 |
Unamortized Discount and Debt Issuance Costs | 4,104 | (9,057) |
Net Carrying Amount | 203,807 | 176,910 |
Senior Secured Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument principal amount | 0 | 175,000 |
Unamortized Discount and Debt Issuance Costs | 3,912 | 1,848 |
Net Carrying Amount | $ (3,912) | $ 173,152 |
Debt - Debt Outstanding Exclu_2
Debt - Debt Outstanding Excluding Lease Obligations (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jan. 01, 2022 | Dec. 31, 2021 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||||
Long-Term Debt, Gross | $ 207,911 | $ 342,853 | ||
0.875% Convertible Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument principal amount | 207,900 | 207,911 | $ 218,000 | |
Long-Term Debt, Gross | $ 207,911 | 167,853 | ||
Additional Paid-In Capital [Member] | 0.875% Convertible Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Convertible, Carrying Amount of Equity Component | $ 40,100 | $ 40,058 | $ 40,100 |
Debt - Interest Expense (Detail
Debt - Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt Instrument [Line Items] | ||||
Total interest expense | $ 1,887 | $ 2,949 | $ 4,023 | $ 6,092 |
Convertible Senior Notes and Senior Secured Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest expense | 1,084 | 1,079 | 2,590 | 2,367 |
Amortization of discounts and debt issuance costs | 803 | 1,870 | 1,433 | 3,725 |
Total interest expense | $ 1,887 | $ 2,949 | $ 4,023 | $ 6,092 |
Debt - Interest Expense Related
Debt - Interest Expense Related to 0.875% Convertible Senior Notes (Detail) - 0.875% Convertible Senior Notes [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt Instrument [Line Items] | ||||
Coupon interest | $ 455 | $ 455 | $ 910 | $ 910 |
Amortization of discounts and debt issuance costs | 228 | 1,474 | 456 | 2,933 |
Total interest expense related to the 0.875% Convertible Senior Notes | $ 683 | $ 1,929 | $ 1,366 | $ 3,843 |
Debt - Additional Information (
Debt - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | |||||
Jan. 01, 2022 | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2022 | Apr. 29, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | ||||||
Debt instrument principal amount | $ 207,911 | $ 342,853 | ||||
Additional paid-in capital | $ 38,900 | |||||
Long term debt | 26,400 | |||||
Retained Earnings (Accumulated Deficit) | 12,500 | 738,864 | 767,556 | |||
Senior Secured Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument principal amount | 0 | 175,000 | ||||
0.875% Convertible Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument principal amount | 207,911 | 167,853 | ||||
Debt instrument principal amount | $ 218,000 | $ 207,900 | 207,911 | |||
Additional paid-in capital | 38,900 | |||||
Long term debt | 26,400 | |||||
Interest rate | 0.875% | 0.875% | 0.875% | |||
Debt issuance costs | $ 700 | |||||
Percentage of interest rate used to to compute the initial fair value of the liability component | 1.95% | |||||
Debt instrument, initial fair value of liability component | $ 177,900 | |||||
Retained Earnings (Accumulated Deficit) | 12,500 | |||||
Debt instrument, net carrying value of equity component | $ 16,400 | |||||
Payments for repurchase debt instrument | $ 7,700 | |||||
Debt instrument aggregate principal amount repurchased | 10,100 | |||||
Gain on repurchase of debt instrument | 500 | |||||
Proceeds due to termination of capped call transaction | 300 | |||||
Reduction to capped call fees | 800 | |||||
Loss in capped call | $ 500 | |||||
0.875% Convertible Senior Notes [Member] | Additional Paid-In Capital [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, equity component amount | 40,100 | 40,100 | $ 40,058 | |||
Payments of capped call fees | 17,200 | |||||
Debt discounts and issuance costs | $ 1,100 | $ 1,100 | ||||
Revolving credit facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Available for the issuance of letters of credit | $ 50,000 | |||||
Borrowing Capacity | 700,000 | |||||
Available for swingline loans | 25,000 | |||||
Credit facility borrowed under certain foreign currencies | $ 100,000 | |||||
Letters of credit outstanding | 800 | |||||
Credit facility, amount available borrowing capacity | $ 699,200 |
Debt - Summary of Future Debt P
Debt - Summary of Future Debt Payment Obligations (Detail) $ in Thousands | Jun. 30, 2022 USD ($) | |
Debt Instrument [Line Items] | ||
Total | $ 207,911 | |
2022 | 0 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
2026 | 0 | |
Thereafter | 207,911 | |
0.875% Convertible Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Total | 207,911 | [1] |
2022 | 0 | [1] |
2023 | 0 | [1] |
2024 | 0 | [1] |
2025 | 0 | [1] |
2026 | 0 | [1] |
Thereafter | $ 207,911 | [1] |
[1] Amount represents the face value of the 0.875 % Convertible Senior Notes. |
Debt - Summary of Future Debt_2
Debt - Summary of Future Debt Payment Obligations (Parenthetical) (Detail) | Jun. 30, 2022 | Jun. 30, 2020 | Dec. 31, 2019 |
0.875% Convertible Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 0.875% | 0.875% | 0.875% |
Income Taxes - Effective Tax Ra
Income Taxes - Effective Tax Rates (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||||
(Loss) income from continuing operations before income taxes | $ (5,317) | $ 30,311 | $ (1,267) | $ 35,717 |
Income tax benefit (provision) | $ (8,579) | $ 4,168 | $ (23,000) | $ 5,274 |
Effective tax rate | 161.40% | 13.80% | 14.80% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | |
Income Loss From Operations Before Provision Benefit For Income Taxes [Line Items] | ||||||
Windfall benefit | $ 11.2 | $ 4.6 | ||||
Pretax Income | $ 4.1 | $ 5.4 | $ 35.7 | |||
Cumulative operating income loss period considered | 3 years | |||||
Valuation allowance | 11.2 | $ 11.2 | ||||
Unrecognized income tax benefits | $ 30.5 | 30.5 | $ 30.3 | |||
Deferred tax assets | $ 7 | |||||
Domestic Deferred Tax Assets [Member] | ||||||
Income Loss From Operations Before Provision Benefit For Income Taxes [Line Items] | ||||||
Valuation allowance | $ 11.2 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Fair Value and Balance Sheet Locations (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Derivatives Fair Value [Line Items] | ||
Derivative asset, fair value | $ 0 | $ 352 |
Derivative liability, fair value | 54 | 0 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member] | ||
Derivatives Fair Value [Line Items] | ||
Derivative asset, fair value | 0 | 352 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued expenses [Member] | ||
Derivatives Fair Value [Line Items] | ||
Derivative liability, fair value | $ 54 | $ 0 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Additional Information (Detail) - Foreign Exchange Forward Contracts [Member] ₨ in Millions, $ in Millions | 6 Months Ended | |
Jun. 30, 2022 INR (₨) Number | Jun. 30, 2022 USD ($) Number | |
Derivative [Line Items] | ||
Number of contracts | Number | 6 | 6 |
Derivative notional amount outstanding | ₨ 50 | $ 0.6 |
Foreign Currency Cash Flow Gain Loss To Be Reclassified During Specified Period | $ | $ 0.1 | |
Estimated period of unrealized losses included in AOCI reclassified into income | 12 months | |
Maximum [Member] | ||
Derivative [Line Items] | ||
Date of contracts mature | Dec. 31, 2022 | |
Minimum [Member] | ||
Derivative [Line Items] | ||
Date of contracts mature | Jul. 31, 2022 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Derivatives Instruments Designated as Cash Flow Hedges (Detail) - Cash Flow Hedging [Member] - Foreign Exchange Contract [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Derivative Instruments Gain Loss [Line Items] | ||||
Amount of Gain (Loss) Recognized in OCI | $ (155) | $ (54) | $ (303) | $ 121 |
Cost of revenue [Member] | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Amount of Gain (Loss) Reclassified from AOCI into Income | (1) | 290 | 36 | 611 |
Selling, General and Administrative Expenses [Member] | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Amount of Gain (Loss) Reclassified from AOCI into Income | 0 | 167 | 24 | 351 |
Research and development [Member] | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Amount of Gain (Loss) Reclassified from AOCI into Income | $ (1) | $ 317 | $ 42 | $ 668 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||
Balance at the beginning of the period | $ 1,408,138 | ||||||
Other comprehensive (loss) income before reclassifications | (1,093) | $ 610 | |||||
Net losses (gains) reclassified from accumulated other comprehensive loss | (76) | (1,209) | |||||
Total other comprehensive income (loss) | $ (832) | $ (193) | (1,169) | (599) | |||
Balance at the end of the period | 1,196,348 | 1,196,348 | |||||
Foreign Currency Translation Adjustments [Member] | |||||||
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||
Balance at the beginning of the period | (3,026) | [1] | (2,957) | [2] | |||
Other comprehensive (loss) income before reclassifications | (867) | 520 | |||||
Net losses (gains) reclassified from accumulated other comprehensive loss | 0 | 0 | |||||
Total other comprehensive income (loss) | (867) | 520 | |||||
Balance at the end of the period | (3,893) | [3] | (2,437) | (3,893) | [3] | (2,437) | |
Derivatives Qualifying as Cash Flow Hedges [Member] | Foreign Exchange Contract [Member] | |||||||
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||
Balance at the beginning of the period | 261 | [1] | 1,119 | [2] | |||
Other comprehensive (loss) income before reclassifications | (226) | 90 | |||||
Net losses (gains) reclassified from accumulated other comprehensive loss | (76) | (1,209) | |||||
Total other comprehensive income (loss) | (302) | (1,119) | |||||
Balance at the end of the period | 41 | [3] | 0 | 41 | [3] | 0 | |
Accumulated Other Comprehensive Loss [Member] | |||||||
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||
Balance at the beginning of the period | (2,765) | [1] | (1,838) | [2] | |||
Balance at the end of the period | $ (3,934) | [3] | $ (2,437) | $ (3,934) | [3] | $ (2,437) | |
[1] Net of taxes of $ 91 thousand for unrealized net gains on foreign exchange contract derivatives. Net of taxes of $ 390 thousand for unrealized net gains on foreign exchange contract derivatives. Net of taxes of $ 14 thousand for unrealized net losses on foreign exchange contract derivatives. |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Foreign Exchange Contract [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Revaluation of tax effects | $ 14 | $ 91 | $ 390 |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Loss - Income Tax Effects Related to Components of Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Foreign currency translation adjustments, Before-Tax Amount | $ (717) | $ 421 | $ (867) | $ 520 |
Foreign currency translation adjustments, Tax Effect | 0 | 0 | 0 | 0 |
Foreign currency translation adjustments, Net | (717) | 421 | (867) | 520 |
Other comprehensive (loss) income before income tax benefit | (870) | (407) | (1,271) | (989) |
Other comprehensive income (loss), Tax effect | 38 | 214 | 102 | 390 |
Total other comprehensive income (loss) | (832) | (193) | (1,169) | (599) |
Derivatives Qualifying as Cash Flow Hedges [Member] | Foreign Exchange Contract [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Derivatives qualifying as cash flow hedges, net (losses) gains arising during the period, Before-Tax, Amount | (155) | (54) | (303) | 121 |
Derivatives qualifying as cash flow hedges, net gains (losses) arising during the period, Tax Effect | 39 | 14 | 77 | (31) |
Derivatives qualifying as cash flow hedges, net gains (losses) arising during the period, Net | (116) | (40) | (226) | 90 |
Derivatives qualifying as cash flow hedges, net losses (gains) reclassified into income, Before-Tax Amount | 2 | (774) | (101) | (1,630) |
Derivatives qualifying as cash flow hedges, net (gains) losses reclassified into income, Tax Effect | (1) | 200 | 25 | 421 |
Derivatives qualifying as cash flow hedges, net losses (gains) reclassified into income, Net | 1 | (574) | (76) | (1,209) |
Derivatives qualifying as cash flow hedges, net change in unrealized (losses) gains on foreign exchange contracts, Before-Tax Amount, Total | (153) | (828) | (404) | (1,509) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax | 38 | 214 | 102 | 390 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent, Total | $ (115) | $ (614) | (302) | (1,119) |
Total other comprehensive income (loss) | $ (302) | $ (1,119) |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) - Practice Fusion, Inc. [Member] - USD ($) | 12 Months Ended | ||
Apr. 05, 2022 | Mar. 18, 2022 | Dec. 31, 2020 | |
Loss Contingencies [Line Items] | |||
Litigation settlement, amount | $ 200,000,000 | ||
Deferred Prosecution Agreement [Member] | |||
Loss Contingencies [Line Items] | |||
Increase (Decrease) in Other Deferred Liability | $ 200,000 | ||
Criminal Fine [Member] | US Department of Justice and US Attorney [Member] | |||
Loss Contingencies [Line Items] | |||
Litigation settlement, amount | $ 25,300,000 | ||
Forfeiture Payment [Member] | US Department of Justice and US Attorney [Member] | |||
Loss Contingencies [Line Items] | |||
Litigation settlement, amount | 959,700 | ||
Civil Settlements [Member] | US Department of Justice and US Attorney [Member] | |||
Loss Contingencies [Line Items] | |||
Litigation settlement, amount | 118,600,000 | ||
State Medicaid Program Expenditures [Member] | US Department of Justice and US Attorney [Member] | |||
Loss Contingencies [Line Items] | |||
Litigation settlement, amount | $ 5,200,000 |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2022 Business Segment | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Number of reportable segments | Segment | 2 |
EPSi and CarePort [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Number of businesses sold | Business | 2 |
Discontinued Operations - Summa
Discontinued Operations - Summary of Major Classes of Assets and Liabilities as Reported on Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Carrying amounts of major classes of assets associated with Hospitals and Large Physician Practices included as part of discontinued operations: | |||
Cash and cash equivalents | $ 500,164 | $ 132,517 | $ 159,556 |
Assets, Current | 828,767 | 761,342 | |
Total current assets attributable to discontinued operations | 20,000 | 331,955 | |
Carrying amounts of major classes of liabilities associated with Hospitals and Large Physician Practices included as part of discontinued operations: | |||
Total current liabilities attributable to discontinued operations | 30,372 | 329,347 | |
Hospitals and Large Physician Practice [Member] | |||
Carrying amounts of major classes of assets associated with Hospitals and Large Physician Practices included as part of discontinued operations: | |||
Cash and cash equivalents | 20,000 | 55,834 | |
Restricted Cash | 0 | 861 | |
Accounts receivable, net of allowance of $16,584 as of December 31, 2021 | 0 | 155,447 | |
Contract assets, net of allowance of $492 as of December 31, 2021 | 0 | 61,382 | |
Prepaid expenses and other current assets | 0 | 58,431 | |
Total current assets attributable to discontinued operations | 20,000 | 331,955 | |
Fixed assets, net | 0 | 38,083 | |
Software development costs, net | 0 | 97,416 | |
Intangible assets, net | 0 | 86,240 | |
Goodwill | 0 | 467,871 | |
Deferred taxes, net | 0 | 6,607 | |
Contract assets - long-term, net of allowance of $739 as of December 31, 2021 | 0 | 28,623 | |
Right-of-use assets - operating leases | 0 | 50,585 | |
Other assets | 0 | 17,731 | |
Total long-term assets attributable to discontinued operations | 0 | 793,156 | |
Carrying amounts of major classes of liabilities associated with Hospitals and Large Physician Practices included as part of discontinued operations: | |||
Accounts payable | 30,372 | 11,555 | |
Accrued expenses | 0 | 38,007 | |
Accrued compensation and benefits | 0 | 61,167 | |
Deferred revenue | 0 | 205,152 | |
Current operating lease liabilities | 0 | 13,466 | |
Total current liabilities attributable to discontinued operations | 30,372 | 329,347 | |
Deferred revenue long-term | 0 | 2,568 | |
Long-term operating lease liabilities | 0 | 48,068 | |
Other liabilities | 0 | 270 | |
Total long-term liabilities attributable to discontinued operations | $ 0 | $ 50,906 |
Discontinued Operations - Sum_2
Discontinued Operations - Summary of Major Classes of Assets and Liabilities as Reported on Consolidated Balance Sheets (Parenthetical) (Detail) - Hospital And Large Physician Practices [Member] $ in Thousands | Dec. 31, 2021 USD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal group including discontinued operation accounts receivable, allowance | $ 16,584 |
Disposal group including discontinued operation contract asset, allowance current | 492 |
Disposal group including discontinued operation contract asset - long term, allowance | $ 739 |
Discontinued Operations - Sum_3
Discontinued Operations - Summary of Major Income and Expense Line Items Reported in Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Cost of revenue: | ||||
Asset impairment charges | $ 0 | $ 172 | $ 0 | $ 172 |
Gain on sale of discontinued operations | 2,765 | 0 | 2,765 | 647 |
Equity in net loss of unconsolidated investments | (207) | (86) | (605) | (64) |
(Loss) income from discontinued operations before income taxes | (3,797) | (6,178) | (8,818) | (358) |
Income tax (provision) benefit | (66,256) | 1,961 | (56,849) | 251 |
(Loss) income from discontinued operations, net of tax | (67,288) | (4,217) | (62,902) | 540 |
Hospital And Large Physician Practices [Member] | ||||
Revenue: | ||||
Total revenue | 70,569 | 232,508 | 284,799 | 467,208 |
Cost of revenue: | ||||
Total cost of revenue | 45,806 | 149,175 | 189,498 | 296,747 |
Gross profit (loss) | 24,763 | 83,333 | 95,301 | 170,461 |
Selling, general and administrative expenses | 19,782 | 50,966 | 68,531 | 100,511 |
Research and development | 8,130 | 30,277 | 31,986 | 58,790 |
Asset impairment charges | 0 | 5,072 | 0 | 5,072 |
Amortization of intangible assets | 88 | 3,461 | 3,538 | 6,921 |
Income (loss) from discontinued operations | (3,237) | (6,443) | (8,754) | (833) |
Other (loss) income, net | (484) | 229 | 12 | 468 |
Gain on sale of discontinued operations | 2,765 | 0 | 2,765 | 0 |
Equity in net loss of unconsolidated investments | (76) | 0 | (76) | 0 |
(Loss) income from discontinued operations before income taxes | (1,032) | (6,214) | (6,053) | (365) |
Income tax (provision) benefit | (66,256) | 1,976 | (56,849) | 420 |
(Loss) income from discontinued operations, net of tax | (67,288) | (4,238) | (62,902) | 55 |
EPSi and CarePort [Member] | ||||
Revenue: | ||||
Total revenue | 368 | 0 | ||
Cost of revenue: | ||||
Total cost of revenue | 316 | (48) | ||
Gross profit (loss) | 52 | 48 | ||
Selling, general and administrative expenses | 9 | 74 | ||
Research and development | 8 | (32) | ||
Income (loss) from discontinued operations | 35 | 6 | ||
Other (loss) income, net | 1 | 1 | ||
Gain on sale of discontinued operations | 0 | 647 | ||
(Loss) income from discontinued operations before income taxes | 36 | 654 | ||
Income tax (provision) benefit | (15) | (169) | ||
(Loss) income from discontinued operations, net of tax | 21 | 485 | ||
Provider [Member] | Hospital And Large Physician Practices [Member] | ||||
Revenue: | ||||
Total revenue | 70,569 | 232,508 | 284,799 | 467,208 |
Cost of revenue: | ||||
Total cost of revenue | $ 45,806 | 149,175 | $ 189,498 | 296,747 |
Provider [Member] | EPSi and CarePort [Member] | ||||
Revenue: | ||||
Total revenue | 368 | 0 | ||
Cost of revenue: | ||||
Total cost of revenue | $ 316 | $ (48) |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 6 Months Ended | |
Jan. 01, 2022 Segment | Jun. 30, 2022 Revenue_Stream Segment | |
Segment Reporting [Abstract] | ||
Number of primary revenue streams | Revenue_Stream | 2 | |
Number of operating segments | 3 | |
Number of reportable segments | 2 |
Business Segments - Revenues an
Business Segments - Revenues and Income (Loss) from Operations Related to Segment Within Reconciliation to Consolidated Amounts (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||||
Revenue | $ 150,898 | $ 142,672 | $ 141,206 | $ 133,652 | $ 293,570 | $ 274,858 |
Gross profit | 79,482 | 68,419 | 152,963 | 131,336 | ||
Income (loss) from operations | (5,356) | 16,818 | 1,216 | 24,547 | ||
Unallocated Amounts [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 6,261 | 7,757 | 12,655 | 15,039 | ||
Gross profit | 4,073 | 4,778 | 8,359 | 9,072 | ||
Income (loss) from operations | (29,330) | (1,196) | (40,873) | (4,961) | ||
Veradigm [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 144,637 | 133,449 | 280,915 | 259,819 | ||
Gross profit | 75,409 | 63,641 | 144,604 | 122,264 | ||
Income (loss) from operations | $ 23,974 | $ 18,014 | $ 42,089 | $ 29,508 |
Supplemental Disclosures - Supp
Supplemental Disclosures - Supplemental Disclosures (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Reconciliation of cash, cash equivalents and restricted cash: | |||
Cash and cash equivalents | $ 500,164 | $ 159,556 | $ 132,517 |
Restricted cash | 1,307 | 1,307 | $ 1,308 |
Total cash, cash equivalents and restricted cash | 501,471 | 160,863 | |
Supplemental non-cash information: | |||
Issuance of treasury stock to commercial partner | $ 0 | $ 534 |