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Condensed Consolidated Statements of Stockholders' Deficit / Members' Deficit (Unaudited) - USD ($)
$ in Thousands
Total
Marketwise, LLC
Common Stock - Class B
Class A Members’ units
Common Stock
Common Stock - Class A
Common Stock
Common Stock - Class B
Preferred Stock
Additional paid-in capital
Accumulated deficit
Accumulated Other Comprehensive Income (Loss)
Total Stockholders’ Deficit / Members’ Deficit Attributable to MarketWise, Inc.
Noncontrolling Interest
Class A members' units, beginning balance (in shares) at Dec. 31, 2019       605,352                
Class A members' units, beginning balance at Dec. 31, 2019 $ (268,064)     $ (262,293)           $ (3) $ (262,296) $ (5,768)
Members' Deficit                        
Class A units transferred to Class B (in shares)       (57,886)                
Acquisition of noncontrolling interest - TradeSmith (9,164)     $ (12,295)             (12,295) 3,131
Distributions (66,568)     (66,145)             (66,145) (423)
Net (loss) income (97,418)     $ (96,546)             (96,546) (872)
Class A members' units, ending balance (in shares) at Jun. 30, 2020       547,466                
Class A members' units, ending balance at Jun. 30, 2020 (441,187)     $ (437,279)           24 (437,255) (3,932)
Stockholders' Deficit                        
Foreign currency translation adjustments 27                 27 27  
Net income (97,418)     (96,546)             (96,546) (872)
Total (97,418)     $ (96,546)             (96,546) (872)
Class A members' units, beginning balance (in shares) at Dec. 31, 2019       605,352                
Class A members' units, beginning balance at Dec. 31, 2019 (268,064)     $ (262,293)           (3) (262,296) (5,768)
Members' Deficit                        
Net (loss) income (165,711)                      
Class A members' units, ending balance (in shares) at Sep. 30, 2020       547,466                
Class A members' units, ending balance at Sep. 30, 2020 (521,443)     $ (516,697)           (33) (516,730) (4,713)
Stockholders' Deficit                        
Foreign currency translation adjustments (30)                      
Net income (165,711)                      
Income tax provision 0                      
Controlling interests (164,145)                      
Noncontrolling interests (1,566)                      
Total (165,711)                      
Class A members' units, beginning balance (in shares) at Jun. 30, 2020       547,466                
Class A members' units, beginning balance at Jun. 30, 2020 (441,187)     $ (437,279)           24 (437,255) (3,932)
Members' Deficit                        
Distributions (11,906)     (11,819)             (11,819) (87)
Net (loss) income (68,293)     $ (67,599)             (67,599) (694)
Class A members' units, ending balance (in shares) at Sep. 30, 2020       547,466                
Class A members' units, ending balance at Sep. 30, 2020 (521,443)     $ (516,697)           (33) (516,730) (4,713)
Stockholders' Deficit                        
Foreign currency translation adjustments (57)                 (57) (57)  
Net income (68,293)     (67,599)             (67,599) (694)
Income tax provision 0                      
Controlling interests (67,599)                      
Noncontrolling interests (694)                      
Total $ (68,293)     $ (67,599)             (67,599) (694)
Class A members' units, beginning balance (in shares) at Dec. 31, 2020 547,466     547,466                
Class A members' units, beginning balance at Dec. 31, 2020 $ (920,610)     $ (914,728)           (17) (914,745) (5,865)
Members' Deficit                        
Class A units transferred to Class B (in shares)       (18,947)                
Acquisition of Chaikin 810                     810
Distributions (15,929)     $ (15,098)             (15,098) (831)
Net (loss) income (623,479)     $ (622,348)             (622,348) (1,131)
Class A members' units, ending balance (in shares) at Jun. 30, 2021       528,519                
Class A members' units, ending balance at Jun. 30, 2021 (1,559,309)     $ (1,552,174)           (118) (1,552,292) (7,017)
Stockholders' Deficit                        
Foreign currency translation adjustments (101)                 (101) (101)  
Net income (623,479)     (622,348)             (622,348) (1,131)
Total $ (623,479)     $ (622,348)             (622,348) (1,131)
Class A members' units, beginning balance (in shares) at Dec. 31, 2020 547,466     547,466                
Class A members' units, beginning balance at Dec. 31, 2020 $ (920,610)     $ (914,728)           (17) (914,745) (5,865)
Members' Deficit                        
Net (loss) income $ (989,764)                      
Stockholders' Deficit                        
Equity-based compensation (in shares) 309,500                      
Foreign currency translation adjustments $ (141)                      
Net income (989,764)                      
Income tax provision 3,085                      
Controlling interests (1,021,881)                      
Noncontrolling interests 32,117                      
Total (989,764)                      
Class A members' units, beginning balance (in shares) at Jun. 30, 2021       528,519                
Class A members' units, beginning balance at Jun. 30, 2021 (1,559,309)     $ (1,552,174)           (118) (1,552,292) (7,017)
Members' Deficit                        
Net (loss) income (409,132)     $ (409,213)             (409,213) 81
Distributions related to the recapitalization (in shares)       (120,353,000)                
Distributions related to the recapitalization (120,353)                   (120,353)  
Stockholders' Deficit                        
Net income (409,132)     $ (409,213)             (409,213) 81
Gain on derivative warrant liabilities 9,900                      
Income tax provision 3,100                      
Controlling interests (409,213)                      
Noncontrolling interests 81                      
Total (409,132)     $ (409,213)             (409,213) 81
Class A members' units, beginning balance (in shares) at Jun. 30, 2021       528,519                
Class A members' units, beginning balance at Jun. 30, 2021 (1,559,309)     $ (1,552,174)           (118) (1,552,292) (7,017)
Members' Deficit                        
Net (loss) income (366,285)                      
Stockholders' Deficit                        
Foreign currency translation adjustments (40)                      
Net income (366,285)                      
Income tax provision 3,085                      
Controlling interests (399,533)                      
Noncontrolling interests 33,248                      
Total (366,285)                      
Class A members' units, beginning balance (in shares) at Jul. 20, 2021     589,465                  
Members' Deficit                        
Stock issued during reverse recapitalization (in shares)     291,092,303 (528,519)                
Reverse capitalization on July 21, 2021       $ 2,081,740         $ (164,367)   1,917,373 (1,917,373)
Stockholders' Deficit                        
Net proceeds 113,291             $ (113,291)     113,291  
Reclassification of Class B Units from liability to equity on July 21, 2021 (date of the Transactions) 1,528,228             1,528,228     1,528,228  
Reverse capitalization on July 21, 2021       $ 2,081,740         (164,367)   1,917,373 (1,917,373)
Issuance of Common Stock - Class A and Class B (in shares)         24,952,096 291,092,303            
Issuance of Common Stock - Class A and Class B         $ 2 $ 29   (31)        
Establishment of derivative warrant liabilities (45,021)             (45,021)     (45,021)  
Establishment of deferred taxes 10,056             10,056     10,056  
Establishment of noncontrolling interest               (1,511,911)   109 (1,511,802) 1,511,802
Ownership percentage   7.90%                    
Noncontrolling interest ownership percentage   92.10%                    
Net (loss) income 42,847               9,680   9,680 33,167
Equity-based compensation (in shares)         200,373              
Equity-based compensation 1,732             1,732     1,732  
Distributions (4,226)                     (4,226)
Foreign currency translation adjustments (40)                 (40) (40)  
Net income 42,847               9,680   9,680 33,167
Controlling interests 9,680                      
Noncontrolling interests 33,167                      
Total 42,847               9,680   9,680 33,167
Balance $ (441,927)       $ 2 $ 29 $ 0 $ 96,344 $ (154,687) $ (49) $ (58,361) $ (383,566)
Balance (in shares)         25,152,469 291,092,303 0