2021 Q4 Form 10-Q Financial Statement

#000182818221000035 Filed on November 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $678.5M $678.8M $72.60M
YoY Change 834.57% 672.24%
Cash & Equivalents $678.5M $678.8M $72.60M
Short-Term Investments
Other Short-Term Assets $20.60M $24.80M $18.20M
YoY Change 13.19% 54.04%
Inventory
Prepaid Expenses
Receivables $217.2M $169.2M $270.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.001B $967.4M $389.2M
YoY Change 157.09% 170.9%
LONG-TERM ASSETS
Property, Plant & Equipment $23.70M $23.00M $25.40M
YoY Change -6.69% -13.86%
Goodwill $597.1M $597.1M $596.7M
YoY Change 0.07% 3.09%
Intangibles $455.3M $478.5M $506.9M
YoY Change -10.18%
Long-Term Investments
YoY Change
Other Assets $11.70M $12.20M $4.100M
YoY Change 185.37% 388.0%
Total Long-Term Assets $1.127B $1.159B $1.133B
YoY Change -0.57% 4.27%
TOTAL ASSETS
Total Short-Term Assets $1.001B $967.4M $389.2M
Total Long-Term Assets $1.127B $1.159B $1.133B
Total Assets $2.127B $2.127B $1.522B
YoY Change 39.74% 44.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.600M $6.400M $147.6M
YoY Change -96.21% 30.61%
Accrued Expenses $67.70M $74.80M
YoY Change 30.09%
Deferred Revenue $3.600M $1.000M $3.800M
YoY Change -5.26% -83.61% 216.67%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.500M $3.500M $4.200M
YoY Change -16.67% 25.0%
Total Short-Term Liabilities $183.1M $174.3M $189.6M
YoY Change -3.43% -14.35%
LONG-TERM LIABILITIES
Long-Term Debt $334.9M $335.4M $397.1M
YoY Change -15.66% -1.58%
Other Long-Term Liabilities $11.40M $15.50M $17.90M
YoY Change -36.31% -53.03%
Total Long-Term Liabilities $346.3M $350.9M $415.0M
YoY Change -16.55% -6.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $183.1M $174.3M $189.6M
Total Long-Term Liabilities $346.3M $350.9M $415.0M
Total Liabilities $634.3M $667.0M $628.3M
YoY Change 0.95% 15.54%
SHAREHOLDERS EQUITY
Retained Earnings $19.70M -$3.000M $0.00
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.123B $1.099B $894.0M
YoY Change
Total Liabilities & Shareholders Equity $2.127B $2.127B $1.522B
YoY Change 39.74% 44.79%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4

Facts In Submission

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us-gaap Increase Decrease In Other Current Liabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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10600000 USD
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40700000 USD
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3700000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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13000000.0 USD
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17100000 USD
us-gaap Payments For Software
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15700000 USD
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5000000.0 USD
us-gaap Payments To Acquire Longterm Investments
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Secured Debt
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2100000 USD
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350000000.0 USD
us-gaap Proceeds From Issuance Of Other Long Term Debt
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0 USD
us-gaap Repayments Of Long Term Lines Of Credit
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0 USD
us-gaap Repayments Of Long Term Lines Of Credit
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15000000.0 USD
us-gaap Proceeds From Long Term Lines Of Credit
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0 USD
us-gaap Proceeds From Long Term Lines Of Credit
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92000000.0 USD
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500000 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
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us-gaap Repayments Of Other Long Term Debt
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200000 USD
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600000 USD
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13100000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
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38200000 USD
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9200000 USD
us-gaap Payments Of Debt Issuance Costs
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0 USD
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10600000 USD
us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
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8100000 USD
us-gaap Proceeds From Issuance Initial Public Offering
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604800000 USD
us-gaap Proceeds From Issuance Initial Public Offering
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0 USD
sgfy Proceeds From Income Tax Refunds From Affiliate
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100000 USD
sgfy Proceeds From Income Tax Refunds From Affiliate
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1000000.0 USD
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2700000 USD
us-gaap Proceeds From Issuance Of Common Stock
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100000 USD
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511700000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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30100000 USD
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42100000 USD
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77000000.0 USD
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50200000 USD
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685900000 USD
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92300000 USD
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16200000 USD
us-gaap Interest Paid Net
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14900000 USD
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7100000 USD
us-gaap Income Taxes Paid Net
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300000 USD
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1000000.0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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200000 USD
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26000000.0 USD
us-gaap Liabilities Assumed1
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sgfy Establishment Of Liabilities Under Tax Receivable Agreement
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8300000 USD
sgfy Establishment Of Liabilities Under Tax Receivable Agreement
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8700000 USD
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2 segment
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0 USD
sgfy Number Of Classes Of Non Voting Common Units
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1 class
sgfy Number Of Classes Of Common Stock
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2 class
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Use of Estimates</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The accompanying Condensed Consolidated Financial Statements have been prepared in conformity with GAAP, which requires management to make estimates and assumptions affecting the reported amounts in our Condensed Consolidated Financial Statements and accompanying notes. These estimates are based on information available as of the date of the Condensed Consolidated Financial Statements; therefore, actual results could differ from those estimates. The significant estimates underlying our Condensed Consolidated Financial Statements include revenue recognition; allowance for doubtful accounts; recoverability of long-lived assets, intangible assets and goodwill; loss contingencies; accounting for business combinations, including amounts assigned to definite and indefinite lived intangible assets and contingent consideration; and equity-based compensation.</span></div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As of September 30, 2021, the impact of the COVID-19 pandemic continues to unfold particularly on our Episodes of Care Services segment due to the passage of time between episode initiation and the performance and subsequent recognition of revenue for our services; </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">See</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> Note 3 </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">The COVID-19 Pandemic</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">. As a result, many of our estimates and assumptions have required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, our estimates may change materially in the future.</span>
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685900000 USD
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678800000 USD
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72600000 USD
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4400000 USD
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
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5100000 USD
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400000 USD
CY2020Q3 us-gaap Marketing And Advertising Expense
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100000 USD
us-gaap Marketing And Advertising Expense
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900000 USD
us-gaap Marketing And Advertising Expense
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1200000 USD
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199200000 USD
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154700000 USD
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sgfy Contract With Customer Asset Converted In Period
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sgfy Contract With Customer Asset Converted In Period
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sgfy Contract With Customer Liability Payments Received From Customers
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CY2020Q3 sgfy Contract With Customer Refund Liability Performance Obligation Satisfied In Period
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CY2020Q3 us-gaap Contract With Customer Refund Liability Current
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sgfy Contract With Customer Liability Deferred Revenue Recognized
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CY2020Q2 sgfy Shared Savings Payable
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51600000 USD
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58200000 USD
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33900000 USD
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26700000 USD
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23200000 USD
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8300000 USD
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69600000 USD
CY2021Q3 sgfy Shared Savings Payable
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43500000 USD
CY2020Q3 sgfy Shared Savings Payable
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33200000 USD
CY2021Q3 sgfy Shared Savings Payable
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43500000 USD
CY2020Q3 sgfy Shared Savings Payable
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33200000 USD
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47200000 USD
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43600000 USD
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24200000 USD
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18200000 USD
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23000000.0 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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25400000 USD
CY2021Q3 us-gaap Depreciation
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2100000 USD
CY2020Q3 us-gaap Depreciation
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1800000 USD
us-gaap Depreciation
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6200000 USD
us-gaap Depreciation
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5500000 USD
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us-gaap Impairment Of Long Lived Assets Held For Use
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192700000 USD
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478500000 USD
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5500000 USD
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5500000 USD
us-gaap Capitalized Computer Software Additions
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17100000 USD
us-gaap Capitalized Computer Software Additions
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15700000 USD
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14000000.0 USD
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45400000 USD
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40500000 USD
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15700000 USD
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57200000 USD
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52600000 USD
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37300000 USD
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33900000 USD
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281800000 USD
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478500000 USD
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CY2021Q3 us-gaap Goodwill
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597100000 USD
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us-gaap Goodwill Impairment Loss
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0 USD
us-gaap Goodwill Impairment Loss
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0 USD
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46400000 USD
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47100000 USD
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43500000 USD
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80800000 USD
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28100000 USD
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19000000.0 USD
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6400000 USD
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AccountsPayableCurrentAndNoncurrent
700000 USD
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300000 USD
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0 USD
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124700000 USD
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147600000 USD
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412500000 USD
CY2021Q3 us-gaap Deferred Finance Costs Net
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6300000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
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5500000 USD
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DebtInstrumentUnamortizedDiscount
4800000 USD
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DebtInstrumentUnamortizedDiscount
5700000 USD
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397100000 USD
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900000 USD
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sgfy Number Of Classes Of Common Stock
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Profit Loss
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9100000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2021Q3 us-gaap Net Income Loss
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20200000 USD
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
4800000 USD
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169055078 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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3378872 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2900000 USD
CY2020Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
5900000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9900000 USD
CY2021Q3 us-gaap Letters Of Credit Outstanding Amount
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9200000 USD
CY2021Q3 us-gaap Sales And Excise Tax Payable Current
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3800000 USD
CY2020Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
8000000.0 USD
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
2100000 USD
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
13100000 USD
CY2021Q2 us-gaap Payment For Contingent Consideration Liability Investing Activities
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15000000 USD
CY2021Q3 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
2400000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6400000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
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0.180
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.139
CY2021Q1 us-gaap Increase Decrease In Deferred Income Taxes
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29000000.0 USD
CY2020Q4 us-gaap Operating Loss Carryforwards
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6200000 USD
CY2020Q4 sgfy Operating Loss Carryforwards Maximum Reduction Of Taxable Income Percent
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0.80
CY2021Q1 sgfy Tax Receivable Agreement Applicable Cash Savings Payable Percent
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0.85
CY2021Q1 sgfy Tax Receivable Agreement Applicable Cash Savings Retainable Percent
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0.15
CY2021Q3 us-gaap Due To Related Parties Noncurrent
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59600000 USD
CY2021Q3 us-gaap Increase Decrease In Due To Related Parties
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8300000 USD
us-gaap Number Of Reportable Segments
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2 segment
CY2021Q3 sgfy Unallocated Costs And Expenses
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CY2020Q3 sgfy Unallocated Costs And Expenses
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20900000 USD
sgfy Unallocated Costs And Expenses
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88100000 USD
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38500000 USD
CY2021Q3 us-gaap Depreciation Depletion And Amortization
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17600000 USD
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DepreciationDepletionAndAmortization
15800000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
51600000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
46000000.0 USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
4200000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
5100000 USD
us-gaap Interest Expense
InterestExpense
17500000 USD
us-gaap Interest Expense
InterestExpense
16200000 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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35700000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13100000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021Q3 us-gaap Other Nonoperating Income Expense
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27400000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2020Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-5000000.0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
2900000 USD
CY2020Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
6800000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
9500000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
10800000 USD
CY2021Q3 sgfy Non Allocated Costs And Expenses
NonAllocatedCostsAndExpenses
100000 USD
CY2020Q3 sgfy Non Allocated Costs And Expenses
NonAllocatedCostsAndExpenses
800000 USD
sgfy Non Allocated Costs And Expenses
NonAllocatedCostsAndExpenses
3700000 USD
sgfy Non Allocated Costs And Expenses
NonAllocatedCostsAndExpenses
3300000 USD
CY2021Q3 sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
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CY2020Q3 sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
20900000 USD
sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
88100000 USD
sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
38500000 USD

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