2021 Q4 Form 10-Q Financial Statement

#000172868822000011 Filed on February 09, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4
Revenue $73.94M $44.62M
YoY Change 65.7% 8.54%
Cost Of Revenue $16.51M $13.70M
YoY Change 20.51%
Gross Profit $65.95M $36.73M
YoY Change 79.55% 9.65%
Gross Profit Margin 89.19% 82.32%
Selling, General & Admin $46.39M $24.96M
YoY Change 85.83% 29.42%
% of Gross Profit 70.34% 67.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.870M $5.092M
YoY Change 34.92% 9.39%
% of Gross Profit 10.42% 13.86%
Operating Expenses $46.39M $24.96M
YoY Change 85.83% 29.42%
Operating Profit -$755.0K -$1.003M
YoY Change -24.73% -124.48%
Interest Expense -$3.154M -$2.000M
YoY Change 57.7% 0.0%
% of Operating Profit
Other Income/Expense, Net -$3.154M
YoY Change
Pretax Income -$3.909M -$3.032M
YoY Change 28.92% -245.56%
Income Tax -$228.0K -$10.00K
% Of Pretax Income
Net Earnings -$2.528M -$1.998M
YoY Change 26.53% 1240.94%
Net Earnings / Revenue -3.42% -4.48%
Basic Earnings Per Share -$0.11 -$0.10
Diluted Earnings Per Share -$0.11 -$0.10
COMMON SHARES
Basic Shares Outstanding 22.04M shares 19.13M shares
Diluted Shares Outstanding 22.04M shares 19.13M shares

Balance Sheet

Concept 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.371M $10.90M
YoY Change -69.07% 3533.33%
Cash & Equivalents $3.371M $10.88M
Short-Term Investments
Other Short-Term Assets $2.889M $9.800M
YoY Change -70.52% 96.0%
Inventory $3.071M $1.460M
Prepaid Expenses
Receivables $39.79M $23.79M
Other Receivables $0.00 $0.00
Total Short-Term Assets $66.81M $44.50M
YoY Change 50.16% 125.3%
LONG-TERM ASSETS
Property, Plant & Equipment $5.705M $5.946M
YoY Change -4.05% 15.93%
Goodwill $349.6M $222.9M
YoY Change 56.84% 33.95%
Intangibles $207.7M $132.8M
YoY Change 56.4% 26.65%
Long-Term Investments
YoY Change
Other Assets $9.477M $6.509M
YoY Change 45.6% 56.02%
Total Long-Term Assets $709.6M $455.9M
YoY Change 55.66% 39.23%
TOTAL ASSETS
Total Short-Term Assets $66.81M $44.50M
Total Long-Term Assets $709.6M $455.9M
Total Assets $776.4M $500.4M
YoY Change 55.17% 44.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.264M $6.348M
YoY Change 30.18% 40.13%
Accrued Expenses $93.70M $26.75M
YoY Change 250.26% 26.15%
Deferred Revenue $35.32M $23.87M
YoY Change 47.98% 130.03%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $149.8M $59.86M
YoY Change 150.21% 65.77%
LONG-TERM LIABILITIES
Long-Term Debt $257.1M $141.4M
YoY Change 81.85% 6.88%
Other Long-Term Liabilities $20.68M $12.39M
YoY Change 66.91% 67.75%
Total Long-Term Liabilities $277.8M $153.8M
YoY Change 80.65% 10.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $149.8M $59.86M
Total Long-Term Liabilities $277.8M $153.8M
Total Liabilities $483.4M $256.3M
YoY Change 88.63% 28.78%
SHAREHOLDERS EQUITY
Retained Earnings -$9.008M -$4.595M
YoY Change 96.04% 162.12%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $207.6M $164.5M
YoY Change
Total Liabilities & Shareholders Equity $776.4M $497.7M
YoY Change 56.01% 43.35%

Cashflow Statement

Concept 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income -$2.528M -$1.998M
YoY Change 26.53% 1240.94%
Depreciation, Depletion And Amortization $6.870M $5.092M
YoY Change 34.92% 9.39%
Cash From Operating Activities $21.91M $12.04M
YoY Change 82.01% 60.85%
INVESTING ACTIVITIES
Capital Expenditures $384.0K $549.0K
YoY Change -30.05% 0.18%
Acquisitions $60.00M $59.60M
YoY Change 0.68%
Other Investing Activities -$60.00M -$59.60M
YoY Change 0.67% 10736.36%
Cash From Investing Activities -$62.35M -$61.33M
YoY Change 1.67% 3341.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $49.22M $48.22M
YoY Change 2.08% -826.78%
NET CHANGE
Cash From Operating Activities $21.91M $12.04M
Cash From Investing Activities -$62.35M -$61.33M
Cash From Financing Activities $49.22M $48.22M
Net Change In Cash $8.780M -$1.069M
YoY Change -921.33% 14.58%
FREE CASH FLOW
Cash From Operating Activities $21.91M $12.04M
Capital Expenditures $384.0K $549.0K
Free Cash Flow $21.53M $11.49M
YoY Change 87.36% 65.64%

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6818000 USD
CY2020Q4 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-3496000 USD
CY2021Q4 iiiv Increase Decrease In Settlement Obligations
IncreaseDecreaseInSettlementObligations
2581000 USD
CY2020Q4 iiiv Increase Decrease In Settlement Obligations
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84000 USD
CY2021Q4 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
5439000 USD
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IncreaseDecreaseInDeferredRevenue
6563000 USD
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IncreaseDecreaseInOperatingLeaseLiabilities
-1180000 USD
CY2020Q4 iiiv Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-782000 USD
CY2021Q4 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1000 USD
CY2020Q4 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
6037000 USD
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3538000 USD
CY2020Q4 us-gaap Payment For Contingent Consideration Liability Operating Activities
PaymentForContingentConsiderationLiabilityOperatingActivities
4115000 USD
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21910000 USD
CY2020Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12038000 USD
CY2021Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
384000 USD
CY2020Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
549000 USD
CY2021Q4 us-gaap Payments For Software
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1958000 USD
CY2020Q4 us-gaap Payments For Software
PaymentsForSoftware
1166000 USD
CY2021Q4 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
60000000 USD
CY2020Q4 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
59595000 USD
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11000 USD
CY2020Q4 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
19000 USD
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88255000 USD
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38948000 USD
CY2021Q4 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
6217000 USD
CY2020Q4 us-gaap Payment For Contingent Consideration Liability Financing Activities
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1736000 USD
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174000 USD
CY2020Q4 us-gaap Proceeds From Stock Options Exercised
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851000 USD
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
200000 USD
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49223000 USD
CY2020Q4 us-gaap Net Cash Provided By Used In Financing Activities
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48222000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8780000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17931000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20601000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26711000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19532000 USD
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1367000 USD
CY2020Q4 us-gaap Interest Paid Net
InterestPaidNet
420000 USD
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556000 USD
CY2020Q4 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
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CashAndCashEquivalentsAtCarryingValue
3641000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15568000 USD
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4768000 USD
CY2020Q3 us-gaap Settlement Assets Current
SettlementAssetsCurrent
0 USD
CY2021Q3 us-gaap Restricted Cash
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9522000 USD
CY2020Q3 us-gaap Restricted Cash
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5033000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17931000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20601000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3371000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10879000 USD
CY2021Q4 us-gaap Settlement Assets Current
SettlementAssetsCurrent
8034000 USD
CY2020Q4 us-gaap Settlement Assets Current
SettlementAssetsCurrent
84000 USD
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
15306000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
8569000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26711000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19532000 USD
CY2021Q4 us-gaap Nature Of Operations
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ORGANIZATION AND OPERATIONS<div style="margin-bottom:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">i3 Verticals, Inc. (the “Company”) was formed as a Delaware corporation on January 17, 2018. The Company was formed for the purpose of completing an initial public offering (“IPO”) of its Class A common stock and other related transactions in order to carry on the business of i3 Verticals, LLC and its subsidiaries. i3 Verticals, LLC was founded in 2012 and delivers seamlessly integrated payment and software solutions to small- and medium-sized businesses (“SMBs”) and organizations in strategic vertical markets. The Company’s headquarters are located in Nashville, Tennessee, with operations throughout the United States. Unless the context otherwise requires, references to “we,” “us,” “our,” “i3 Verticals” and the “Company” refer to i3 Verticals, Inc. and its subsidiaries, including i3 Verticals, LLC.</span></div><div style="margin-bottom:4pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reorganization Transactions</span></div><div style="margin-bottom:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the IPO, the Company completed the following transactions (the “Reorganization Transactions”):</span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">i3 Verticals, LLC amended and restated its existing limited liability company agreement to, among other things, (1) convert all existing Class A units, common units (including common units issued upon the exercise of existing warrants) and Class P units of ownership interest in i3 Verticals, LLC into either Class A voting common units of i3 Verticals, LLC (such holders of Class A voting common units referred to herein as the “Continuing Equity Owners”) or Class B non-voting common units of i3 Verticals, LLC (such holders of Class B non-voting common units referred to herein as the “Former Equity Owners”), and (2) appoint i3 Verticals, Inc. as the sole managing member of i3 Verticals, LLC upon its acquisition of Common Units in connection with the IPO;</span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Company amended and restated its certificate of incorporation to provide for, among other things, Class A common stock and Class B common stock;</span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">i3 Verticals, LLC and the Company consummated a merger among i3 Verticals, LLC, i3 Verticals, Inc. and a newly formed wholly-owned subsidiary of i3 Verticals, Inc. (“MergerSub”) whereby: (1) MergerSub merged with and into i3 Verticals, LLC, with i3 Verticals, LLC as the surviving entity; (2) Class A voting common units converted into newly issued Common Units in i3 Verticals, LLC together with an equal number of shares of Class B common stock of i3 Verticals, Inc., and (3) Class B non-voting common units converted into Class A common stock of i3 Verticals, Inc. based on a conversion ratio that provided an equitable adjustment to reflect the full value of the Class B non-voting common units; and</span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Company issued shares of its Class A common stock pursuant to a voluntary private conversion of certain subordinated notes by certain related and unrelated creditors of i3 Verticals, LLC.</span></div><div style="margin-bottom:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the completion of the IPO and Reorganization Transactions, the Company became a holding company and the principal asset that it owns are the Common Units in i3 Verticals, LLC. i3 Verticals, Inc. operates and controls all of i3 Verticals, LLC's operations and, through i3 Verticals, LLC and its subsidiaries, conducts i3 Verticals, LLC's business. i3 Verticals, Inc. has a majority economic interest in i3 Verticals, LLC. </span></div>i3 Verticals, Inc. is the sole managing member of i3 Verticals, LLC and as a result, consolidates the financial results of i3 Verticals, LLC and reports a non-controlling interest representing the Common Units of i3 Verticals, LLC held by the Continuing Equity Owners.
CY2021Q4 us-gaap Settlement Assets Current
SettlementAssetsCurrent
8034000 USD
CY2021Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
8034000 USD
CY2021Q3 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
4768000 USD
CY2021Q3 us-gaap Settlement Assets Current
SettlementAssetsCurrent
4768000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
3071000 USD
CY2021Q3 us-gaap Inventory Net
InventoryNet
2220000 USD
CY2021Q4 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
7555000 USD
CY2021Q4 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
805000 USD
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73939000 USD
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
44621000 USD
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73939000 USD
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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44621000 USD
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1505000 USD
CY2021Q3 us-gaap Contract With Customer Liability
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30024000 USD
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IncreaseDecreaseInContractWithCustomerLiability
21032000 USD
CY2021Q4 us-gaap Contract With Customer Liability Revenue Recognized
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15735000 USD
CY2021Q4 us-gaap Contract With Customer Liability
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35321000 USD
CY2020Q3 us-gaap Contract With Customer Liability
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CY2020Q4 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
22142000 USD
CY2020Q4 us-gaap Contract With Customer Liability Revenue Recognized
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7541000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
25655000 USD
CY2021Q4 us-gaap Capitalized Contract Cost Gross
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4087000 USD
CY2020Q4 us-gaap Capitalized Contract Cost Gross
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3356000 USD
CY2021Q4 us-gaap Capitalized Contract Cost Amortization
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167000 USD
CY2020Q4 us-gaap Capitalized Contract Cost Amortization
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119000 USD
CY2021Q4 us-gaap Use Of Estimates
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Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, the value of purchase consideration paid and identifiable assets acquired and assumed in acquisitions, goodwill and intangible asset impairment review, determination of performance obligations for revenue recognition, loss reserves, assumptions used in the calculation of equity-based compensation and in the calculation of income taxes, and certain tax assets and liabilities as well as the related valuation allowances. Actual results could differ from those estimates.
CY2021Q4 us-gaap Business Acquisitions Pro Forma Revenue
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76416000 USD
CY2020Q4 us-gaap Business Acquisitions Pro Forma Revenue
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54134000 USD
CY2021Q4 us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2020Q4 us-gaap Business Acquisitions Pro Forma Net Income Loss
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-4912000 USD
CY2021 us-gaap Number Of Businesses Acquired
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8 business
CY2021Q4 iiiv Prepaid Inventory
PrepaidInventory
3071000 USD
CY2021Q3 iiiv Prepaid Inventory
PrepaidInventory
2220000 USD
CY2021Q4 iiiv Prepaid Licenses
PrepaidLicenses
8256000 USD
CY2021Q3 iiiv Prepaid Licenses
PrepaidLicenses
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CY2021Q4 us-gaap Prepaid Insurance
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CY2021Q3 us-gaap Prepaid Insurance
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1074000 USD
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2889000 USD
CY2021Q3 us-gaap Other Assets Current
OtherAssetsCurrent
3274000 USD
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15614000 USD
CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11214000 USD
CY2021Q3 us-gaap Goodwill
Goodwill
292243000 USD
CY2021Q4 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
57354000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
349597000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
282945000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
75248000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
207697000 USD
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
282987000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
75248000 USD
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
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207739000 USD
CY2021Q4 us-gaap Amortization Of Intangible Assets
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4178000 USD
CY2020Q4 us-gaap Amortization Of Intangible Assets
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3360000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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13712000 USD
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17517000 USD
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16534000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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16250000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
15855000 USD
CY2021Q4 iiiv Finite Lived Intangible Asset Expected Amortization After Year Four
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127829000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
207697000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
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CY2021Q3 us-gaap Employee Related Liabilities Current
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6649000 USD
CY2021Q4 us-gaap Interest Payable Current
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CY2021Q3 us-gaap Interest Payable Current
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271000 USD
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability Current
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26703000 USD
CY2021Q3 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
25768000 USD
CY2021Q4 iiiv Escrow Liabilities Current
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14851000 USD
CY2021Q3 iiiv Escrow Liabilities Current
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9067000 USD
CY2021Q4 us-gaap Contract With Customer Refund Liability Current
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1842000 USD
CY2021Q3 us-gaap Contract With Customer Refund Liability Current
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1913000 USD
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648000 USD
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1032000 USD
CY2021Q4 us-gaap Other Liabilities Current
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42130000 USD
CY2021Q3 us-gaap Other Liabilities Current
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6115000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
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93695000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
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50815000 USD
CY2021Q4 iiiv Acquisition Related Liabilities Current
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35000000 USD
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3346000 USD
CY2021Q3 us-gaap Deferred Finance Costs Net
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3599000 USD
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CY2021Q3 us-gaap Long Term Debt
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CY2021Q4 us-gaap Convertible Debt Fair Value Disclosures
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107684000 USD
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28676000 USD
CY2021Q4 iiiv Debt Issuance Costs Incurred In Period
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0 USD
CY2020Q4 iiiv Debt Issuance Costs Incurred In Period
DebtIssuanceCostsIncurredInPeriod
0 USD
CY2021Q4 us-gaap Amortization Of Financing Costs
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254000 USD
CY2020Q4 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
235000 USD
CY2021Q4 us-gaap Income Tax Expense Benefit
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CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10000 USD
CY2018Q2 iiiv Tax Receivable Agreement Percent Of Tax Benefits Payable To Continuing Equity Owners
TaxReceivableAgreementPercentOfTaxBenefitsPayableToContinuingEquityOwners
0.85
CY2018Q2 iiiv Tax Receivable Agreement Percent Of Tax Benefits Retained
TaxReceivableAgreementPercentOfTaxBenefitsRetained
0.15
CY2021Q4 iiiv Increase Decrease In Deferred Tax Assets Net
IncreaseDecreaseInDeferredTaxAssetsNet
96000 USD
CY2021Q4 iiiv Tax Receivable Agreement Percent Of Tax Benefits Payable To Continuing Equity Owners
TaxReceivableAgreementPercentOfTaxBenefitsPayableToContinuingEquityOwners
0.85
CY2021Q4 iiiv Increase Decrease In Tax Receivable Agreement Liability
IncreaseDecreaseInTaxReceivableAgreementLiability
81000 USD
CY2021Q4 iiiv Period Of Payment To Continuing Equity Owners
PeriodOfPaymentToContinuingEquityOwners
P26Y
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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.068
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1491000 USD
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
854000 USD
CY2021Q4 us-gaap Variable Lease Cost
VariableLeaseCost
38000 USD
CY2020Q4 us-gaap Variable Lease Cost
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1000 USD
CY2021Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
47000 USD
CY2020Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
58000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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4329000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5345000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4550000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3835000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3136000 USD
CY2021Q4 iiiv Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
3456000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24651000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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3593000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21058000 USD
CY2021Q4 us-gaap Short Term Lease Commitment Amount
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60000 USD
CY2021Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
107684000 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
27000 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
205000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7547622 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
25.26
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
942821 shares
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
23.19
CY2021Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
43889 shares
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
15.17
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
147336 shares
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
30.05
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8299218 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.99
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.14
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8299218 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3339373 shares
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
45867000 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
4941000 USD
CY2021Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
1494000 USD
CY2020Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
912000 USD
CY2021Q4 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
2923000 USD
CY2021Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
2690000 USD
CY2021Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
450000 USD
CY2021Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
0 USD
CY2021Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
0 USD
CY2021Q4 iiiv Purchase Obligation To Be Paid After Year Four
PurchaseObligationToBePaidAfterYearFour
0 USD
CY2021Q4 us-gaap Purchase Obligation
PurchaseObligation
6063000 USD
CY2018Q2 iiiv Tax Receivable Agreement Percent Of Tax Benefits Payable To Continuing Equity Owners
TaxReceivableAgreementPercentOfTaxBenefitsPayableToContinuingEquityOwners
0.85
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73939000 USD
CY2021Q4 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
16510000 USD
CY2021Q4 iiiv Residual Expense
ResidualExpense
8520000 USD
CY2021Q4 us-gaap Gross Profit
GrossProfit
65949000 USD
CY2021Q4 iiiv Residual Expense
ResidualExpense
8520000 USD
CY2021Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
46387000 USD
CY2021Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6870000 USD
CY2021Q4 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
4927000 USD
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-755000 USD
CY2021Q4 us-gaap Assets
Assets
776436000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
349597000 USD
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
44621000 USD
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
44621000 USD
CY2020Q4 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
13666000 USD
CY2020Q4 iiiv Residual Expense
ResidualExpense
5775000 USD
CY2020Q4 us-gaap Gross Profit
GrossProfit
36730000 USD
CY2020Q4 iiiv Residual Expense
ResidualExpense
5775000 USD
CY2020Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24962000 USD
CY2020Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5092000 USD
CY2020Q4 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1904000 USD
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-1003000 USD
CY2020Q4 us-gaap Assets
Assets
500379000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
222905000 USD
CY2021Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1153000 USD
CY2020Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1024000 USD
CY2021Q4 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
123000 USD
CY2020Q4 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
7185000 USD
CY2021Q4 iiiv Noncontrolling Interest Increase From Allocation Of Equity
NoncontrollingInterestIncreaseFromAllocationOfEquity
1899000 USD
CY2020Q4 iiiv Noncontrolling Interest Increase From Allocation Of Equity
NoncontrollingInterestIncreaseFromAllocationOfEquity
1008000 USD
CY2021Q4 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
1776000 USD
CY2020Q4 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
-6177000 USD
CY2021Q4 iiiv Net Income Loss Attributable To Noncontrolling Interest After Transfers To From Noncontrolling Interests
NetIncomeLossAttributableToNoncontrollingInterestAfterTransfersToFromNoncontrollingInterests
623000 USD
CY2020Q4 iiiv Net Income Loss Attributable To Noncontrolling Interest After Transfers To From Noncontrolling Interests
NetIncomeLossAttributableToNoncontrollingInterestAfterTransfersToFromNoncontrollingInterests
-7201000 USD
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2021Q4 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
5481000 USD
CY2020Q4 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
3400000 USD
CY2021Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6820000 USD
CY2020Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11251000 USD
CY2021Q4 iiiv Noncash Or Part Noncash Acquisition Purchase Consideration Accrued
NoncashOrPartNoncashAcquisitionPurchaseConsiderationAccrued
35000000 USD
CY2020Q4 iiiv Noncash Or Part Noncash Acquisition Purchase Consideration Accrued
NoncashOrPartNoncashAcquisitionPurchaseConsiderationAccrued
0 USD

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