2021 Q4 Form 10-K Financial Statement
#000110465922040410 Filed on March 31, 2022
Income Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
Revenue | $199.8M | $688.4M | $135.8M |
YoY Change | 47.18% | 44.63% | |
Cost Of Revenue | $155.3M | $521.1M | $96.64M |
YoY Change | 60.68% | 52.82% | |
Gross Profit | $44.53M | $167.3M | $39.12M |
YoY Change | 13.82% | 23.93% | |
Gross Profit Margin | 22.29% | 24.3% | 28.82% |
Selling, General & Admin | $33.37M | $102.6M | $21.78M |
YoY Change | 53.21% | 30.6% | |
% of Gross Profit | 74.93% | 61.31% | 55.67% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $13.89M | $13.89M | $13.83M |
YoY Change | 0.38% | 0.38% | |
% of Gross Profit | 31.18% | 8.3% | 35.36% |
Operating Expenses | $36.99M | $116.4M | $24.86M |
YoY Change | 48.79% | 26.08% | |
Operating Profit | $7.537M | -$13.33M | $14.26M |
YoY Change | -47.15% | -131.27% | |
Interest Expense | -$4.162M | -$16.87M | -$5.781M |
YoY Change | -28.01% | -30.72% | |
% of Operating Profit | -55.22% | -40.54% | |
Other Income/Expense, Net | $34.35M | $0.00 | |
YoY Change | |||
Pretax Income | $3.375M | $33.96M | $8.479M |
YoY Change | -60.2% | 85.87% | |
Income Tax | $262.0K | $965.0K | $1.527M |
% Of Pretax Income | 7.76% | 2.84% | 18.01% |
Net Earnings | $3.113M | $21.03M | $62.27M |
YoY Change | -95.0% | -67.02% | |
Net Earnings / Revenue | 1.56% | 3.05% | 45.87% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $32.60K | $387.5K | $762.2K |
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $47.90M | $47.90M | $843.6K |
YoY Change | 5577.3% | 65.08% | |
Cash & Equivalents | $47.90M | $47.90M | $843.6K |
Short-Term Investments | |||
Other Short-Term Assets | $7.689M | $7.689M | $209.8K |
YoY Change | 3565.09% | 154.94% | |
Inventory | |||
Prepaid Expenses | $67.08K | $209.8K | |
Receivables | $90.20M | $90.20M | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $145.8M | $145.8M | $1.053M |
YoY Change | 13739.32% | 41.31% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $830.0K | $830.0K | |
YoY Change | -21.48% | ||
Goodwill | $44.82M | $44.82M | |
YoY Change | 0.0% | ||
Intangibles | $50.37M | ||
YoY Change | |||
Long-Term Investments | $517.5M | ||
YoY Change | |||
Other Assets | $3.149M | $1.423M | |
YoY Change | |||
Total Long-Term Assets | $111.1M | $111.1M | $517.5M |
YoY Change | -78.53% | -3.8% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $145.8M | $145.8M | $1.053M |
Total Long-Term Assets | $111.1M | $111.1M | $517.5M |
Total Assets | $256.9M | $256.9M | $518.6M |
YoY Change | -50.46% | 17.48% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $72.85M | $72.85M | |
YoY Change | 39.81% | ||
Accrued Expenses | $10.45M | $16.69M | $613.1K |
YoY Change | 1604.92% | 138.01% | |
Deferred Revenue | $1.971M | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $170.5M | $170.5M | |
YoY Change | 1718.36% | ||
Total Short-Term Liabilities | $276.6M | $276.6M | $613.1K |
YoY Change | 45011.17% | 243.47% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | $969.0K | $8.758M | $81.77M |
YoY Change | -98.82% | -44.57% | |
Total Long-Term Liabilities | $969.0K | $8.758M | $81.77M |
YoY Change | -98.82% | -95.3% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $276.6M | $276.6M | $613.1K |
Total Long-Term Liabilities | $969.0K | $8.758M | $81.77M |
Total Liabilities | $285.3M | $285.3M | $82.39M |
YoY Change | 246.31% | 6.89% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $0.00 | -$81.33M | |
YoY Change | -100.0% | ||
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$28.40M | -$28.40M | -$81.33M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $256.9M | $256.9M | $518.6M |
YoY Change | -50.46% | 17.48% |
Cashflow Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $3.113M | $21.03M | $62.27M |
YoY Change | -95.0% | -67.02% | |
Depreciation, Depletion And Amortization | $13.89M | $13.89M | $13.83M |
YoY Change | 0.38% | 0.38% | |
Cash From Operating Activities | $21.34M | -$1.240M | $46.90M |
YoY Change | -54.51% | -102.67% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.634M | -$6.535M | -$6.131M |
YoY Change | -73.35% | 6.59% | |
Acquisitions | $0.00 | ||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $591.8M |
YoY Change | -100.0% | -100.0% | |
Cash From Investing Activities | -$1.634M | -$6.535M | $585.7M |
YoY Change | -100.28% | -109.59% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -6.950M | 450.0K | -646.8M |
YoY Change | -98.93% | -100.35% | |
NET CHANGE | |||
Cash From Operating Activities | 21.34M | -1.240M | 46.90M |
Cash From Investing Activities | -1.634M | -6.535M | 585.7M |
Cash From Financing Activities | -6.950M | 450.0K | -646.8M |
Net Change In Cash | 12.75M | -790.5K | -14.25M |
YoY Change | -189.48% | -94.08% | |
FREE CASH FLOW | |||
Cash From Operating Activities | $21.34M | -$1.240M | $46.90M |
Capital Expenditures | -$1.634M | -$6.535M | -$6.131M |
Free Cash Flow | $22.97M | $5.295M | $53.03M |
YoY Change | -56.69% | -89.95% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2020Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
150000 | ||
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
778589 | ||
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
450000 | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
518746411 | ||
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-790496 | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
843643 | ||
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
843643 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
53147 | |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
843643 | |
sst |
Initial Classification Of Warrant Liability
InitialClassificationOfWarrantLiability
|
35676668 | ||
sst |
Initial Classification Of Forward Purchase Agreement Liability
InitialClassificationOfForwardPurchaseAgreementLiability
|
255538 | ||
CY2020Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
sst |
Initial Classification Of Common Stock Subject To Possible Redemption
InitialClassificationOfCommonStockSubjectToPossibleRedemption
|
517500000 | ||
sst |
Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
|
18112500 | ||
CY2021 | dei |
Document Annual Report
DocumentAnnualReport
|
true | |
CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2020Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2021Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2020Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
sst |
Proceeds From Sale Of Units
ProceedsFromSaleOfUnits
|
517500000 | ||
sst |
Proceeds Allocated To Public Warrants
ProceedsAllocatedToPublicWarrants
|
24150000 | ||
sst |
Temporary Equity Issuance Costs
TemporaryEquityIssuanceCosts
|
28115576 | ||
us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
52265576 | ||
CY2020Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
517500000 | |
CY2021 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2021 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2021 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
CY2021 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2021 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001805833 | |
CY2021 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2021 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2021 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2021 | |
CY2021 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2020Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2021 | sst |
Redemption Of Shares Calculated Based On Number Of Business Days Prior To Consummation Of Business Combination
RedemptionOfSharesCalculatedBasedOnNumberOfBusinessDaysPriorToConsummationOfBusinessCombination
|
P2D | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2020Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2021 | dei |
Document Type
DocumentType
|
10-K | |
CY2021 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2021-12-31 | |
CY2021 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2021 | dei |
Entity File Number
EntityFileNumber
|
001-39331 | |
CY2021 | dei |
Entity Registrant Name
EntityRegistrantName
|
System1, Inc. | |
CY2021 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
CY2021 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
98-1531250 | |
CY2021 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
4235 Redwood Avenue | |
CY2021 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Marina Del Rey | |
CY2021 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
CA | |
CY2021 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
90066 | |
CY2021 | dei |
City Area Code
CityAreaCode
|
310 | |
CY2021 | dei |
Local Phone Number
LocalPhoneNumber
|
924-6037 | |
CY2021 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2021 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2021 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | |
CY2021 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
CY2021 | dei |
Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
|
false | |
CY2021 | dei |
Entity Shell Company
EntityShellCompany
|
true | |
CY2021Q2 | dei |
Entity Public Float
EntityPublicFloat
|
512325000 | |
CY2022Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
81696614 | |
CY2021 | dei |
Auditor Firm
AuditorFirmId
|
688 | |
CY2021 | dei |
Auditor Name
AuditorName
|
Marcum LLP | |
CY2021 | dei |
Auditor Location
AuditorLocation
|
Philadelphia, PA | |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
53147 | |
CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
843643 | |
CY2021Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
67083 | |
CY2020Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
209790 | |
CY2021Q4 | us-gaap |
Assets Current
AssetsCurrent
|
120230 | |
CY2020Q4 | us-gaap |
Assets Current
AssetsCurrent
|
1053433 | |
CY2021Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
517500000 | |
CY2020Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
517500000 | |
CY2021Q4 | us-gaap |
Assets
Assets
|
517620230 | |
CY2020Q4 | us-gaap |
Assets
Assets
|
518553433 | |
CY2021Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
12557125 | |
CY2020Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
613050 | |
CY2021Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
450000 | |
CY2020Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
0 | |
CY2021Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
13007125 | |
CY2020Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
613050 | |
CY2021Q4 | us-gaap |
Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
|
29305834 | |
CY2020Q4 | us-gaap |
Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
|
53005335 | |
CY2021Q4 | sst |
Forward Purchase Agreement Liability
ForwardPurchaseAgreementLiability
|
0 | |
CY2020Q4 | sst |
Forward Purchase Agreement Liability
ForwardPurchaseAgreementLiability
|
10654540 | |
CY2021Q4 | sst |
Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
|
18112500 | |
CY2020Q4 | sst |
Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
|
18112500 | |
CY2021Q4 | us-gaap |
Liabilities
Liabilities
|
60425459 | |
CY2020Q4 | us-gaap |
Liabilities
Liabilities
|
82385425 | |
CY2021Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
517500000 | |
CY2020Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
517500000 | |
CY2020Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2020Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-60306523 | |
CY2020Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-81333286 | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-60305229 | |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-81331992 | |
CY2021Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
517620230 | |
CY2020Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
518553433 | |
CY2021 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
13327278 | |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
806028 | ||
CY2021 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-13327278 | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-806028 | ||
sst |
Offering Costs Related To Warrants And Fpa
OfferingCostsRelatedToWarrantsAndFpa
|
1381051 | ||
CY2021 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-23699501 | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
17328667 | ||
CY2021 | sst |
Fair Value Adjustment Of Forward Purchase Agreement Liability
FairValueAdjustmentOfForwardPurchaseAgreementLiability
|
-7494372 | |
sst |
Fair Value Adjustment Of Forward Purchase Agreement Liability
FairValueAdjustmentOfForwardPurchaseAgreementLiability
|
10399002 | ||
CY2021 | us-gaap |
Gain Loss On Contract Termination
GainLossOnContractTermination
|
3160168 | |
CY2021 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
34354041 | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-29108720 | ||
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
21026763 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-29914748 | ||
CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
0 | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
25000 | ||
us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
823332 | ||
us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
52265576 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-29914748 | ||
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-81331992 | |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
21026763 | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-60305229 | |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
21026763 | |
us-gaap |
Profit Loss
ProfitLoss
|
-29914748 | ||
CY2021 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-23699501 | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
17328667 | ||
CY2021 | sst |
Fair Value Adjustment Of Forward Purchase Agreement Liability
FairValueAdjustmentOfForwardPurchaseAgreementLiability
|
-7494372 | |
sst |
Fair Value Adjustment Of Forward Purchase Agreement Liability
FairValueAdjustmentOfForwardPurchaseAgreementLiability
|
10399002 | ||
CY2021 | us-gaap |
Gain Loss On Contract Termination
GainLossOnContractTermination
|
3160168 | |
sst |
Transaction Costs Incurred In Connection With Ipo
TransactionCostsIncurredInConnectionWithIpo
|
1381051 | ||
CY2021 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-142707 | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
209790 | ||
CY2021 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
11944075 | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
613050 | ||
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1240496 | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-402768 | ||
sst |
Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
|
517500000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-517500000 | ||
sst |
Proceeds From Sale Of Units Net Of Underwriting Discounts Paid
ProceedsFromSaleOfUnitsNetOfUnderwritingDiscountsPaid
|
507150000 | ||
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
12350000 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
25000 | ||
CY2021 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
450000 | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
150000 | ||
CY2021 | sst |
Class Of Warrant Or Right Redemption Of Warrants Or Rights Stock Price Trigger
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger
|
18.00 | |
CY2021 | sst |
Cash Held Outside Trust Account
CashHeldOutsideTrustAccount
|
53147 | |
sst |
Cash Held Outside Trust Account
CashHeldOutsideTrustAccount
|
843643 | ||
CY2020Q2 | sst |
Investment Of Cash In Trust Account
InvestmentOfCashInTrustAccount
|
517500000 | |
CY2021 | sst |
Threshold Minimum Aggregate Fair Market Value As Percentage Of Assets Held In Trust Account
ThresholdMinimumAggregateFairMarketValueAsPercentageOfAssetsHeldInTrustAccount
|
0.80 | |
CY2021 | sst |
Threshold Percentage Of Outstanding Voting Securities Of Target To Be Acquired By Post Transaction Company To Complete Business Combination
ThresholdPercentageOfOutstandingVotingSecuritiesOfTargetToBeAcquiredByPostTransactionCompanyToCompleteBusinessCombination
|
0.50 | |
CY2021Q4 | sst |
Minimum Net Tangible Assets Upon Consummation Of Business Combination
MinimumNetTangibleAssetsUponConsummationOfBusinessCombination
|
5000001 | |
CY2021 | sst |
Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
|
1 | |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
53147 | |
CY2021Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
517500000 | |
CY2021Q4 | sst |
Working Capital Deficit
WorkingCapitalDeficit
|
12886895 | |
CY2021 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the 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 consolidated financial statements and the reported amounts of expenses during the reporting period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these consolidated financial statements is the determination of the fair value of the warrant liabilities. Such estimates may be subject to change as more current information becomes available and accordingly, the actual results could differ significantly from those estimates.</p> | |
CY2021 | sst |
Proceeds From Sale Of Units
ProceedsFromSaleOfUnits
|
517500000 | |
CY2021 | sst |
Proceeds Allocated To Public Warrants
ProceedsAllocatedToPublicWarrants
|
24150000 | |
CY2021 | sst |
Temporary Equity Issuance Costs
TemporaryEquityIssuanceCosts
|
28115576 | |
CY2021 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
52265576 | |
CY2021Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
517500000 | |
CY2020Q2 | sst |
Transaction Costs
TransactionCosts
|
29241089 | |
CY2020Q2 | sst |
Sale Of Stock Current And Deferred Underwriting Fees
SaleOfStockCurrentAndDeferredUnderwritingFees
|
28462500 | |
CY2020Q2 | sst |
Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
|
778589 | |
CY2020Q2 | us-gaap |
Payments For Underwriting Expense
PaymentsForUnderwritingExpense
|
1381051 | |
CY2020Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2020Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2020Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2020Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2020Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2020Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | ||
CY2021 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
25483334 | |
CY2021 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</p> | |
CY2021Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | |
CY2020Q2 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
8233334 | |
CY2020Q2 | sst |
Class Of Warrant Or Right Price Of Warrants Or Rights
ClassOfWarrantOrRightPriceOfWarrantsOrRights
|
1.50 | |
CY2020Q2 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
12350000 | |
CY2020Q2 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
1 | |
CY2021Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
11.50 | |
CY2021Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
450000 | |
CY2021Q4 | sst |
Maximum Number Of Demands For Registration Of Securities
MaximumNumberOfDemandsForRegistrationOfSecurities
|
3 | |
CY2021 | sst |
Period After Closing Of Initial Business Combination To File Resale Shelf Registration Statement
PeriodAfterClosingOfInitialBusinessCombinationToFileResaleShelfRegistrationStatement
|
P30D | |
CY2021Q4 | sst |
Deferred Fee Per Unit
DeferredFeePerUnit
|
0.35 | |
CY2021Q4 | sst |
Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
|
18112500 | |
CY2021Q4 | us-gaap |
Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
|
8266666 | |
CY2020Q4 | us-gaap |
Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
|
0 | |
CY2021Q4 | sst |
Threshold Post Closing Dollar Volume Weighted Average Price
ThresholdPostClosingDollarVolumeWeightedAveragePrice
|
12.50 | |
CY2021 | sst |
Thresholdconsecutivetradingdaysfordeterminingthresholdpostclosingdollarvolumeweightedaverageprice
Thresholdconsecutivetradingdaysfordeterminingthresholdpostclosingdollarvolumeweightedaverageprice
|
P20D | |
CY2021 | sst |
Thresholdtradingdaysfordeterminingthresholdpostclosingdollarvolumeweightedaverageprice
Thresholdtradingdaysfordeterminingthresholdpostclosingdollarvolumeweightedaverageprice
|
P30D | |
CY2021Q4 | sst |
Amountofshareholderredemptionneedtoexceedfordollartodollaradjustmentofconsideration
Amountofshareholderredemptionneedtoexceedfordollartodollaradjustmentofconsideration
|
417500000 | |
CY2021 | sst |
Threshold Period For Not To Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination
ThresholdPeriodForNotToTransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombination
|
P180D | |
CY2021 | sst |
Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Stock Price Trigger
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationStockPriceTrigger
|
12.00 | |
CY2021 | sst |
Threshold Trading Days For Transfer Assign Or Sale Of Shares Or Warrants After Completion Of Initial Business Combination
ThresholdTradingDaysForTransferAssignOrSaleOfSharesOrWarrantsAfterCompletionOfInitialBusinessCombination
|
P20D | |
CY2021 | sst |
Threshold Consecutive Trading Days For Transfer Assign Or Sale Of Shares Or Warrants After Completion Of Initial Business Combination
ThresholdConsecutiveTradingDaysForTransferAssignOrSaleOfSharesOrWarrantsAfterCompletionOfInitialBusinessCombination
|
P30D | |
CY2021 | sst |
Thresholdperiodafterbusinesscombinationinwhichspecifiedtradingdayswithinanyspecifiedtradingdayperiodcommences.
Thresholdperiodafterbusinesscombinationinwhichspecifiedtradingdayswithinanyspecifiedtradingdayperiodcommences.
|
P150D | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2020Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2021Q4 | us-gaap |
Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
|
29305834 | |
CY2020Q4 | us-gaap |
Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
|
53005335 | |
CY2020Q4 | sst |
Forward Purchase Agreement Liability
ForwardPurchaseAgreementLiability
|
10654540 | |
CY2020Q4 | us-gaap |
Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
|
63659875 | |
CY2021Q2 | sst |
Fpaliability
Fpaliability
|
0 |