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NET INCOME (LOSS) PER SHARE | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
NET INCOME (LOSS) PER SHARE | NET INCOME (LOSS) PER SHAREFor the period from January 1, 2022 through January 26, 2022 (Predecessor), and for the year ended December 31, 2021 (Predecessor), the basic net income (loss) per unit attributable to members was calculated by dividing the net income (loss) attributable to common equity holders by the weighted-average number of membership units. For the period from January 27, 2022 through December 31, 2022 (Successor), the basic net loss per share was calculated by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding. Basic and diluted net income (loss) per share was calculated as follows:
| Successor |  |  | Predecessor
| Period from January 27, 2022 through December 31, 2022 |  |  | Period from January 1, 2022 through January 26, 2022 |  | Year Ended December 31, 2021
Basic and diluted net loss per share | $ | (3.77) |  |  |  | n/a |  | n/a
Numerator: |  |  |  |  |  |
Net loss attributable to System1, Inc. | $ | (336,397) |  |  |  | n/a |  | n/a
Denominator: |  |  |  |  |  |
Weighted-average common shares outstanding used in computing basic net loss per share (shares in thousands) | 89,251 |  |  |  | n/a |  | n/a
Basic and diluted net income (loss) per unit | n/a |  |  | $ | (1.81) |  |  | $ | 1.61 |
Numerator: |  |  |  |  |  |
Net income (loss) | n/a |  |  | $ | (37,061) |  |  | $ | 32,996 |
Denominator: |  |  |  |  |  |
Weighted-average membership units outstanding - basic and diluted (units in thousands) | n/a |  |  | 20,488 |  |  | 20,488 |
Shares of Class C common stock, RSUs and Public Warrants outstanding for the period January 27, 2022 through December 31, 2022 (Successor) are considered potentially dilutive of the shares of Class A common stock and are included in the computation of diluted loss per share, except when the effect would be anti-dilutive. For the periods presented in the table above, a total of 16,813 Public Warrants were excluded from the computation of net loss per share as the impact was anti-dilutive.

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