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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Summary of Table Illustrates the Level of Concentration as a Percentage of Total Revenues
The following table illustrates the level of concentration as a percentage of total revenues:

SuccessorPredecessorSuccessorPredecessor
Three Months Ended June 30, 2022Three Months Ended June 30, 2021Period from January 27, 2022 through June 30, 2022Period from January 1, 2022 through January 26, 2022Six Months Ended June 30, 2021
Google69 %84 %71 %88 %83 %
Microsoft3 %5 %3 %4 %5 %
Schedule of Estimated Useful Lives of Property and Equipment The estimated useful lives of the Company’s property and equipment for purposes of computing depreciation are as follows:
(Years)
Computer equipment3
Office equipment3
Software4
Furniture, fixtures and equipment3-7
Motor vehicles4
Leasehold improvements
Shorter of the remaining lease term or estimated useful life for leasehold improvements.
Property and equipment, net as of June 30, 2022 (Successor) and December 31, 2021 (Predecessor), consisted of the following:
SuccessorPredecessor
June 30, 2022December 31, 2021
Computer equipment
$604 $415 
Motor vehicles234 — 
Furniture and equipment
918 475 
Leasehold improvements
2,833 976 
Property and equipment—gross
4,589 1,866 
Less accumulated depreciation
(259)(1,036)
Property and equipment—net
$4,330 $830 

Total depreciation expense on property and equipment were as follows:

SuccessorPredecessorSuccessorPredecessor
Three Months Ended June 30, 2022Three Months Ended June 30, 2021Period from January 27, 2022 through June 30, 2022Period from January 1, 2022 through January 26, 2022Six Months Ended June 30, 2021
Depreciation expense
$149$89$268$16$170
Schedule of Finite-Lived Intangible Assets The estimated useful lives of the Company’s intangible assets are as follows:
Useful Life
(Years)
Developed technology4
Customer relationships3-5
Trademarks and trade names10
Other intangibles4
Internal-use software development costs and intangible assets consisted of the following:

June 30, 2022 (Successor)
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Total internal-use software development costs
$3,985 $(375)$3,610 
Intangibles:
Developed technology
$196,000 $(20,822)$175,178 
Trademarks and trade names
287,852 (11,803)276,049 
Software
5,100 (428)4,672 
Customer relationships
121,000 (20,558)100,442 
Total intangible costs
$609,952 $(53,611)$556,341 
December 31, 2021 (Predecessor)
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Total internal-use software development costs$21,274 $(10,061)$11,213 
Intangibles:
Developed technology$8,398 $(7,242)$1,156 
Trademarks and trade names69,007 (21,375)47,632 
Professional service agreement3,100 (2,359)741 
Customer relationships1,500 (661)839 
Total intangible costs$82,005 $(31,637)$50,368 
Amortization expense for internal-use software development costs and intangible assets were as follows:

SuccessorPredecessorSuccessorPredecessor
Three Months Ended June 30, 2022Three Months Ended June 30, 2021Period from January 27, 2022 through June 30, 2022Period from January 1, 2022 through January 26, 2022Six Months Ended June 30, 2021
Amortization expense for internal-use software development
$78$921$143$355$2,245
Amortization expense for intangible assets$31,867$2,102$53,611$629$4,386
Schedule of Ownership Interest by Other Entities
The following table summarizes the ownership interest in S1 Holdco as of June 30, 2022 (Successor).

Units (in thousands)Ownership %
Class A units of S1 Holdco90,587 80 %
Class B units of S1 Holdco22,077 20 %