2022 Q3 Form 10-Q Financial Statement

#000180583322000037 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $201.2M $219.8M $52.71M
YoY Change -58.82% 29.61% -64.28%
Cost Of Revenue $137.7M $152.6M $161.9M
YoY Change -62.37% 20.92% 46.13%
Gross Profit $63.50M $67.24M $56.93M
YoY Change -48.27% 54.89% 54.8%
Gross Profit Margin 31.56% 30.59% 108.0%
Selling, General & Admin $16.52M $16.17M $14.82M
YoY Change -76.13% 157.56% 113.19%
% of Gross Profit 26.02% 24.04% 26.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $252.0K $149.0K $16.00K
YoY Change -97.54% 67.42% -80.25%
% of Gross Profit 0.4% 0.22% 0.03%
Operating Expenses $16.52M $16.17M $14.82M
YoY Change -79.21% 157.56% 113.19%
Operating Profit -$42.31M -$27.88M -$40.04M
YoY Change 5318.34% -270.78% -465.93%
Interest Expense $10.01M $7.324M $1.049M
YoY Change -178.78% 63.63% -74.09%
% of Operating Profit
Other Income/Expense, Net -$14.50M -$3.185M -$1.049M
YoY Change -310.74% -28.84%
Pretax Income -$56.81M -$31.07M -$41.09M
YoY Change -285.73% -362.17% -696.01%
Income Tax -$19.23M $3.000M -$629.0K
% Of Pretax Income
Net Earnings -$31.64M -$29.20M -$40.46M
YoY Change -618.76% -348.03% -700.03%
Net Earnings / Revenue -15.73% -13.28% -76.76%
Basic Earnings Per Share -$0.35 -$0.33 -$0.36
Diluted Earnings Per Share -$0.35 -$0.33 -$0.36
COMMON SHARES
Basic Shares Outstanding 90.59M shares 89.70M shares 82.21M shares
Diluted Shares Outstanding 91.00M shares 89.70M shares 82.21M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.93M $37.44M $42.18M
YoY Change -11.81% 37342.0% 13080.63%
Cash & Equivalents $31.93M $37.44M $36.83M
Short-Term Investments
Other Short-Term Assets $16.09M $15.43M $19.36M
YoY Change 122.42% 8471.11% 11290.0%
Inventory
Prepaid Expenses
Receivables $78.85M $93.40M $99.98M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $126.9M $146.3M $161.5M
YoY Change 42335.0% 52312.49% 32862.65%
LONG-TERM ASSETS
Property, Plant & Equipment $4.349M $4.330M $2.855M
YoY Change 420.22%
Goodwill $904.2M $907.2M $0.00
YoY Change
Intangibles $506.0M $537.9M $568.7M
YoY Change
Long-Term Investments
YoY Change
Other Assets $708.0K $779.0K $808.0K
YoY Change 33.84%
Total Long-Term Assets $1.438B $1.471B $1.499B
YoY Change 177.79% 184.25% 189.75%
TOTAL ASSETS
Total Short-Term Assets $126.9M $146.3M $161.5M
Total Long-Term Assets $1.438B $1.471B $1.499B
Total Assets $1.564B $1.617B $1.661B
YoY Change 202.14% 212.34% 220.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.24M $17.29M $76.00M
YoY Change -81.06%
Accrued Expenses $90.70M $67.05M $17.39M
YoY Change 1081.94% 3625.17% 882.54%
Deferred Revenue $68.29M $68.37M $64.81M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00M $20.00M $14.82M
YoY Change -88.36%
Total Short-Term Liabilities $207.1M $200.4M $225.2M
YoY Change 7849.06% 11001.2% 12625.76%
LONG-TERM LIABILITIES
Long-Term Debt $402.3M $406.0M $409.8M
YoY Change
Other Long-Term Liabilities $2.909M $7.482M $5.804M
YoY Change -68.95% -87.92% -90.25%
Total Long-Term Liabilities $2.909M $7.482M $5.804M
YoY Change -68.95% -87.92% -90.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $207.1M $200.4M $225.2M
Total Long-Term Liabilities $2.909M $7.482M $5.804M
Total Liabilities $769.1M $790.1M $831.3M
YoY Change 1233.66% 1139.44% 1256.96%
SHAREHOLDERS EQUITY
Retained Earnings -$150.0M -$118.4M -$89.18M
YoY Change 161.48% 86.5% 46.73%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $617.2M $642.8M $639.3M
YoY Change
Total Liabilities & Shareholders Equity $1.564B $1.617B $1.661B
YoY Change 202.14% 212.34% 220.66%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$31.64M -$29.20M -$40.46M
YoY Change -618.76% -348.03% -700.03%
Depreciation, Depletion And Amortization $252.0K $149.0K $16.00K
YoY Change -97.54% 67.42% -80.25%
Cash From Operating Activities $6.730M $20.01M -$10.49M
YoY Change -44.18% 16.42% -203.57%
INVESTING ACTIVITIES
Capital Expenditures -$2.834M -$2.891M $0.00
YoY Change 69.9% 61.24%
Acquisitions $0.00
YoY Change
Other Investing Activities $488.0K -$19.34M -$426.6M
YoY Change
Cash From Investing Activities -$2.346M -$22.23M -$441.0K
YoY Change 40.65% 1139.77% -69.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.047M -3.362M $0.00
YoY Change -19.4% -72.64% -100.0%
NET CHANGE
Cash From Operating Activities 6.730M 20.01M -$10.49M
Cash From Investing Activities -2.346M -22.23M -$441.0K
Cash From Financing Activities -7.047M -3.362M $0.00
Net Change In Cash -2.663M -5.584M -$11.06M
YoY Change -261.88% -279.95% -701.25%
FREE CASH FLOW
Cash From Operating Activities $6.730M $20.01M -$10.49M
Capital Expenditures -$2.834M -$2.891M $0.00
Free Cash Flow $9.564M $22.90M -$10.49M
YoY Change -30.31% 20.66% -203.57%

Facts In Submission

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ORGANIZATION AND DESCRIPTION OF BUSINESS<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System1, Inc. and subsidiaries (“System1”, or the “Company”, f/k/a Trebia Acquisition Corp.) operates an omnichannel customer acquisition platform, delivering high-intent customers to advertisers and sells antivirus software packages to end user customers. </span></div><div style="text-align:justify"><span><br/></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:120%">The Company provides its omnichannel customer acquisition platform services through its proprietary responsive acquisition marketing platform </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“RAMP”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Operating seamlessly across major advertising networks and advertising category verticals to acquire users on its behalf, RAMP allows the Company to monetize such users through its relationships with third party advertisers and advertising networks </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“A</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">dvertising Partners</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. RAMP also allows third party advertising platforms and publishers </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Network Partners</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, to send user traffic to, and monetize user traffic on, the Company’s owned and operated websites. RAMP operates across the Company’s network of owned and operated websites and related products, allowing it to monetize user traffic that it sources from various acquisition marketing channels, including Google, Facebook, Taboola, Snapchat and TikTok.</span></div><div style="text-align:justify"><span><br/></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:120%">The Company, through Protected.net, also provides antivirus software solutions, offering its customers a single packaged solution that provides protection and reporting to the end user. The Company delivers its antivirus software solutions directly to end-user customers across the world. The antivirus software solutions product offering comprises a core security package with varying levels of extra protection based on a customer's specific needs.</span></div><div style="text-align:justify"><span><br/></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:120%">The Company’s primary operations are in the United States; and the Company also has operations in Canada, the United Kingdom, and the Netherlands. Operations outside the United States are subject to risks inherent in operating under different legal systems and various political and economic environments. Among these risks are changes in existing tax laws, possible limitations on foreign investment and income repatriation, government foreign exchange controls, and exposure to currency exchange fluctuations. The Company does not engage in hedging activities to mitigate its exposure to fluctuations in foreign currency exchange rates. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of the condensed consolidated financial statements, periods on or before January 26, 2022 reflect the financial position, results of operations and cash flows of S1 Holdco and its consolidated subsidiaries prior to the Merger transaction (as defined in Note 3), referred to herein as the “Predecessor,” and periods beginning on or after January 27, 2022 reflect the financial position, results of operations and cash flows of the Company and its consolidated subsidiaries as a result of the Merger transaction, referred to herein as the “Successor”. </span></div><div style="text-align:justify"><span><br/></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:112%">Revenue attributable to the United States of the </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">total revenue were as follows:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:26.464%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.201%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.201%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.201%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.201%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.203%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Successor</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Predecessor</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Successor</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Predecessor</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Three Months Ended June 30, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-left:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Three Months Ended June 30, 2021</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Period from January 27, 2022 through June 30, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-left:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Period from January 1, 2022 through January 26, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:125%">Six Months Ended June 30, 2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">United States</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">76 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-left:1pt solid #000;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">96 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">78 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-left:1pt solid #000;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">98 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">97 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:125%">%</span></td></tr></table></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Long-lived assets attributable to the United States and Canada represent 77% and 16% of total long-lived assets as of </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">June 30, 2022 (Successor)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, respectively, </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">99% and 1% of total long-lived assets as of </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">December 31, 2021 (Predecessor)</span>, respectively.
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6786000 usd
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
7987000 usd
CY2022Q2 sst Number Of Advertising Partners
NumberOfAdvertisingPartners
2 partner
CY2022Q2 sst Number Of Paid Search Advertising Partnership Contract
NumberOfPaidSearchAdvertisingPartnershipContract
3 agreement
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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.</span></div>Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to: (1) valuation of goodwill, acquired intangible assets and long-lived assets for impairment, (2) valuation and recognition of the Company's share-based compensation awards, (3) income taxes, (4) variable and contingent consideration and (5) determination of the fair value of the warrant liabilities. Significant estimates affecting the condensed consolidated financial statements have been prepared on the basis of the most current and best available information, including historical experience, known trends and other market-specific or other relevant factors that the Company believes to be reasonable. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Changes in estimates are recorded in periods which they become known. However, actual results from the resolution of such estimates and assumptions may vary from those used in the preparation of the condensed consolidated financial statements.
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2022Q2 us-gaap Accounts Receivable Noncurrent Threshold Period Past Due
AccountsReceivableNoncurrentThresholdPeriodPastDue
P30D
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Concentration of Credit Risk</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to credit risk consist principally of cash and accounts receivable. Cash is deposited with high-credit-quality financial institutions and, at times, such balances with any one financial institution may exceed the insurance limits of the prevailing regulatory body. Historically, the Company has not experienced any losses related to these cash balances and believes that there is minimal risk of expected future losses. However, there can be no assurance that there will not be losses on these deposits.</span></div>Accounts receivable are primarily derived from Advertising Partners located within the United States.
CY2021Q4 sst Number Of Customers
NumberOfCustomers
2 customer
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
7289000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
743000 usd
CY2022Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2021Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1
CY2022Q2 sst Business Acquisition Percentage Of Allocation And Payment From Savings
BusinessAcquisitionPercentageOfAllocationAndPaymentFromSavings
0.85
CY2022Q2 us-gaap Fair Value Liabilities Measured On Recurring Basis Obligations
FairValueLiabilitiesMeasuredOnRecurringBasisObligations
0 usd
CY2022Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
219913000 usd
CY2021Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
219031000 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
456010000 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
412232000 usd
CY2022Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-30144000 usd
CY2021Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-30754000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-63023000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-118696000 usd
CY2022Q2 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4589000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1866000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
259000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1036000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4330000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
830000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
149000 usd
CY2021Q2 us-gaap Depreciation
Depreciation
89000 usd
us-gaap Depreciation
Depreciation
268000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
16000 usd
us-gaap Depreciation
Depreciation
170000 usd
CY2022Q1 us-gaap Goodwill
Goodwill
0 usd
CY2021Q4 us-gaap Goodwill
Goodwill
44820000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
907248000 usd
CY2022Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
13499000 usd
CY2022Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
1852000 usd
CY2022Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
11647000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
591453000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
53540000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
537913000 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
21274000 usd
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
10061000 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
11213000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
82005000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
31637000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
50368000 usd
CY2022Q2 sst Capitalized Computer Software In Progress
CapitalizedComputerSoftwareInProgress
4147000 usd
CY2021Q4 sst Capitalized Computer Software In Progress
CapitalizedComputerSoftwareInProgress
2540000 usd
CY2022Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1366000 usd
CY2021Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
921000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2900000 usd
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
355000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2245000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
31882000 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2102000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
53540000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
629000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4386000 usd
CY2022Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2022Q2 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
CY2022Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
CY2022Q1 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
CY2021Q2 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2021Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
585000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
982000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
142000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y2M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1240000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2525000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2597000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2252000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
285000 usd
CY2022Q2 sst Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
1588000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10487000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1349000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
9138000 usd
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
571000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1062000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1957000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1950000 usd
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CY2022Q2 sst Salaries Commissions And Benefits
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CY2021Q2 sst Salaries Commissions And Benefits
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CY2022Q1 sst Salaries Commissions And Benefits
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CY2022Q2 us-gaap Selling General And Administrative Expense
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CY2022Q2 sst Depreciation Depletion And Amortization Excluding Debt Issuance Costs
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CY2021Q2 sst Depreciation Depletion And Amortization Excluding Debt Issuance Costs
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CY2022Q2 us-gaap Interest Expense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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266000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.016

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