In millions, except per share items | Jun-30-23 | Mar-31-23 | Jun-30-22 | Dec-31-21 | Sep-30-21 | Jun-30-21 | Mar-31-21 | Dec-31-20 |
| 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | S-1/A |
Revenue | | 167.9 | 219.8 | | 171.4 | 169.6 | 147.6 | |
Revenue growth | | | 29.6% | | | | | |
Operating expenses: | | | | | | | | |
Cost of revenue (excluding depreciation and amortization) | | 120.4 | 152.6 | | | | | |
Salaries and benefits | | 38.4 | 49.5 | | | | | |
Selling, general, and administrative | | 17.2 | 16.7 | | 7.9 | 6.3 | 7.0 | |
Depreciation and amortization | | 29.4 | 32.1 | | 3.5 | 3.1 | 3.7 | |
Total operating expenses | | 205.3 | 250.9 | 10.6 | 155.4 | 153.3 | 136.6 | |
Operating loss | | -37.5 | -31.1 | -10.6 | 16.0 | 16.3 | 10.9 | |
Operating margin | | -22.3% | -14.2% | | 9.3% | 9.6% | 7.4% | |
|
Other (income) expense: | | | | | | | | |
Interest expense, net | | -11.5 | -7.3 | | -4.2 | -4.5 | -4.0 | |
Change in fair value of warrant liabilities | | -1.4 | -4.1 | | | | | |
Total other expense | | 10.0 | 3.2 | -7.6 | 4.2 | 4.5 | | |
Loss before income tax | | -47.5 | -34.3 | | 11.8 | 11.8 | 6.9 | |
Income tax benefit | | -4.4 | -0.5 | | 0.5 | 0.1 | 0.2 | |
Net loss | | -43.1 | -33.8 | | 11.4 | 11.8 | 6.7 | |
Net loss attributable to non-controlling interest | | 9.2 | 8.1 | | | | | |
Net loss attributable to System1, Inc. | | -34.0 | -25.7 | -2.9 | 11.4 | 11.8 | 6.7 | |
|
Basic net loss per share (in dollars per share) | | ($0.37) | ($0.29) | | $0.55 | $0.57 | $0.33 | |
Diluted net loss per share (in dollars per share) | | ($0.37) | ($0.33) | | $0.55 | $0.57 | $0.33 | |
|
Weighted average shares outstanding - basic (in shares) | | 92.5 | 89.7 | 64.7 | 20.5 | 20.5 | 20.5 | |
Weighted average shares outstanding - diluted (in shares) | | 92.5 | 91.2 | | 20.5 | 20.5 | 20.5 | |
Basic net loss per unit (in dollars per share) | | ($0.37) | ($0.29) | | $0.55 | $0.57 | $0.33 | |
Diluted net loss per unit (in dollars per share) | | ($0.37) | ($0.33) | | $0.55 | $0.57 | $0.33 | |
Weighted average units outstanding - basic (in shares) | | 92.5 | 89.7 | 64.7 | 20.5 | 20.5 | 20.5 | |
Weighted average units outstanding - diluted (in shares) | | 92.5 | 91.2 | | 20.5 | 20.5 | 20.5 | |