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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 5 Months Ended 6 Months Ended
Jan. 26, 2022
Mar. 31, 2022
Jun. 30, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]              
Revenue $ 52,712   $ 219,797 $ 169,579   $ 385,905 $ 317,140
Operating costs and expenses:              
Cost of revenues (excluding depreciation and amortization) 41,507   152,558 126,167   272,942 236,952
Salaries, commissions, and benefits 31,181   49,511 17,698   97,709 32,893
Selling, general, and administrative 15,665   16,747 6,277   31,835 13,227
Depreciation and amortization 1,000   32,094 3,112   54,022 6,801
Total operating costs and expenses 89,353   250,910 153,254   456,508 289,873
Operating income (loss) (36,641)   (31,113) 16,325   (70,603) 27,267
Other expense (income):              
Interest expense 1,049   7,324 4,476   12,100 8,524
Change in fair value of warrant liabilities 0   (4,139) 0   9,622 0
Total other expense (1,049)   (3,185) (4,476)   (21,722) (8,524)
Income (loss) before income tax (37,690)   (34,298) 11,849   (92,325) 18,743
Income tax (benefit) provision (629)   (454) 77   (15,103) 228
Net income (loss) (37,061) $ (43,378) (33,844) 11,772 $ 6,743 (77,222) 18,515
Net loss attributable to non-controlling interest 0   (8,107) 0   (15,416) 0
Net income (loss) attributable to System1, Inc. $ (37,061)   $ (25,737) $ 11,772   $ (61,806) $ 18,515
Basic net loss per share (in dollars per share)     $ (0.29)     $ (0.71)  
Diluted net loss per share (in dollars per share)     $ (0.33)        
Weighted average number of shares outstanding - basic (in shares)     89,701,000     86,840,000  
Weighted average number of shares outstanding - diluted (in shares)     91,182,000        
Basic net income (loss) per unit (in dollars per share) $ (1.81)     $ 0.57     $ 0.90
Diluted net income (loss) per unit (in dollars per share) $ (1.81)     $ 0.57     $ 0.90
Weighted average units outstanding - basic (in shares) 20,488,000     20,488,000     20,488,000
Weighted average units outstanding - diluted (in shares) 20,488,000     20,488,000     20,488,000