TABULA RASA HEALTHCARE, INC. - 10-Q - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Summary
Substantially all our revenue is recognized in the and substantially all our long-lived assets are located in the In early 2020, we disclosed a long-term growth strategy based on three key tenets: Further penetration of the PACE market by leveraging our existing CareVention HealthCare client base (90% of all PACE organizations utilize at least one of our solutions) and cross-selling to increase our average PMPM fee; organic 1) member growth within our existing clients in part due to the acceleration of increase enrollment to 200,000 by 2028; and continued investments in our offerings to attract new PACE clients and, more broadly, Medicare Advantage 2) programs by health plans across all lines of business, including Medicare Part C and Part D, Medicaid managed care, and commercial clients with a focus on Increasing the number of pharmacies licensing the entire PrescribeWellness 3) solution set, including our MedWise module launched in , across our Cost of Revenue (exclusive of depreciation and amortization) Sales and marketing expenses consist principally of salaries, commissions, bonuses, and stock-based compensation and employee benefits for sales, marketing, and account management personnel, as well as travel costs related to sales, marketing, and account management activities. depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA and Adjusted EBITDA margin do not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; ? Adjusted EBITDA and Adjusted EBITDA margin do not reflect tax payments that may represent a reduction in cash available to us; and other companies, including companies in our industry, may calculate Adjusted The following table reconciles net loss per share on a diluted basis, the most directly comparable GAAP measure, to Adjusted Diluted EPS: The impact to taxes was calculated using a normalized statutory tax rate (1) applied to pre-tax income or loss adjusted for the respective items above and then subtracting or adding the tax benefit or provision, respectively, as For the three and nine months ended , we accounted for the accordance with the guidance under ASU 2020-06 effective (see Note 2 in the notes to the consolidated financial statements). However, no potential shares are assumed outstanding and are excluded from the diluted EPS calculation if including them would have an anti-dilutive effect. For the three and nine months ended , there was no impact on diluted EPS from the convertible senior subordinated notes as the conversion would have had an anti-dilutive