v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 135,343 $ 8,905
Restricted cash, current 3,813 5,717
Accounts receivable, net 56,093 80,428
Prepaid expenses and other current assets 6,754 11,166
Current assets held for sale from discontinued operations 0 20,292
Total current assets 202,003 126,508
Restricted cash, non-current 4,294 5,395
Property and equipment, net 3,084 3,162
Internal-use software development costs, net 11,425 6,948
Intangible assets, net 297,001 371,661
Goodwill 82,407 82,407
Operating lease right-of-use assets 4,732 6,484
Other non-current assets 524 2,822
Assets held for sale from discontinued operations 0 555,069
Total assets 605,470 1,160,456
Current liabilities:    
Accounts payable 9,499 6,707
Accrued expenses and other current liabilities 59,314 85,780
Operating lease liabilities, current 2,333 2,149
Debt, net 15,271 15,021
Current liabilities held for sale from discontinued operations 0 101,418
Total current liabilities 86,417 211,075
Operating lease liabilities, non-current 3,582 5,875
Long-term debt, net 334,232 399,504
Warrant liability 2,688 7,798
Deferred tax liability 8,307 29,396
Other liabilities 929 1,661
Liabilities held for sale from discontinued operations 0 34,476
Total liabilities 436,155 689,785
Commitments and contingencies (Note 10)
STOCKHOLDERS’ EQUITY    
Additional paid-in capital 843,112 831,566
Accumulated deficit (707,662) (439,296)
Accumulated other comprehensive loss (181) (260)
Total stockholders' equity attributable to System1, Inc. 135,278 392,021
Non-controlling interest 34,037 78,650
Total stockholders' equity 169,315 470,671
Total liabilities and stockholders' equity 605,470 1,160,456
Class A common stock    
STOCKHOLDERS’ EQUITY    
Common stock value 7 9
Class C common stock    
STOCKHOLDERS’ EQUITY    
Common stock value $ 2 $ 2