v3.24.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2023
Business Acquisition [Line Items]  
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed
The purchase consideration, inclusive of the Protected assets and liabilities, was allocated to the following assets and liabilities (in thousands):
Tangible assets acquired and liabilities assumed:
Cash and marketable securities$68,748 
Accounts receivable79,086 
Prepaid expenses7,807 
Income tax receivable4,566 
Property, plant & equipment, net1,551 
Other assets6,950 
Accounts payable(9,798)
Deferred revenue(60,768)
Accrued expenses and other current liabilities(110,004)
Income tax payable(2,091)
Notes payable(172,038)
Deferred tax liabilities(145,032)
Other liabilities(8,474)
Total tangible assets acquired and liabilities assumed(339,497)
Trademarks - 10 years estimated useful life
246,400 
Customer relationships - 4 years estimated useful life
119,700 
Technology - 4 years estimated useful life
196,000 
Goodwill827,696 
Net assets acquired$1,050,299 
Consideration:
Cash$440,155 
Equity411,453 
Total consideration attributable to System1851,608 
Total consideration attributable to non-controlling interest198,691 
Total consideration$1,050,299 
Schedule of Pro Forma Information The unaudited pro forma information reflects adjustments for additional amortization resulting from the fair value adjustments to assets acquired and liabilities assumed, adjustments for alignment of accounting policies, adjustments for transaction expenses, adjustments for certain stock-based compensation and equity related expenses incurred as a result of the transaction and the resulting tax effects, as if the Merger and acquisitions of Answers, CouponFollow and RoadWarrior occurred January 1, 2021. The pro forma results do not include any anticipated cost synergies or other effects of the merged companies. Accordingly, pro forma amounts are not necessarily indicative of the results that actually would have occurred had the acquisitions been completed on the dates indicated, nor is it indicative of the future operating results of the combined company. The following table provides unaudited pro forma information as if the 2022 acquisitions occurred as of January 1, 2021 (in thousands).
Year Ended December 31, 2022 (Successor)
Pro forma revenue$682,161 
Pro forma net loss$(366,278)
Answers Holdings, Inc.  
Business Acquisition [Line Items]  
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed
The allocation of the total purchase consideration for this acquisition was as follows (in thousands):
Working capital$32 
Trademark - 10 years estimated useful life
1,100 
Goodwill3,500 
Net assets acquired$4,632 
NextGen Shopping, Inc  
Business Acquisition [Line Items]  
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed
The allocation of the total purchase consideration for this acquisition was as follows (in thousands):

Assets acquired and liabilities assumed:
Cash and cash equivalents$21,232 
Accounts receivable5,860 
Other current assets446 
Accounts payable(116)
Accrued expenses and other current liabilities(118)
Income tax payable(197)
Deferred tax liabilities(10,895)
Trademark - 10 years estimated useful life
38,100 
Software - 4 years estimated useful life
4,100 
Goodwill42,175 
Net assets acquired$100,587 
RoadWarrior, LLC  
Business Acquisition [Line Items]  
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed
The allocation of the total purchase consideration for this acquisition was as follows (in thousands):

Assets acquired and liabilities assumed:
Working capital$155 
Trademark - 10 years estimated useful life
2,200 
Software - 4 years estimated useful life
1,000 
Customer relationships - 3 years estimated useful life
1,300 
Goodwill14,981 
Net assets acquired$19,636