SST

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System1, Inc. Class A

Sells to businessesTags from an AI model reading the company description.

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Key Metrics

Previous Close: $2.64
52-Week Range: $1.35 – $8.39
Market Cap: $21.25M
P/E (TTM): —
EPS (TTM): -11.29
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: -51235.46%
Return on Assets: -9.47%
Gross Margin: 6.81%
Operating Margin: -17.15%
Profit Margin: -50.66%
Current Ratio: 0.77
Debt/Equity: —
Total Debt: $300.64M
Free Cash Flow: $-12.85M
Revenue Growth: -61.30%
Earnings Growth: —
Enterprise Value: $255.08M

SST Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	—	$401.97M	$343.93M	$266.13M
Cost of Revenue	—	$248.75M	$242.60M	$165.73M
Gross Profit	—	$153.23M	$101.32M	$100.39M
Selling, General & Admin	—	$160.81M	$189.92M	$162.44M
Operating Expenses	—	$239.22M	$189.92M	$162.44M
Operating Income	—	-$85.99M	-$88.60M	-$62.04M
EBITDA	—	$22.32M	$14.00M	$26.35M
Pretax Income	—	-$131.63M	-$97.67M	-$84.07M
Income Tax	—	-$20.37M	-$370.00K	-$2.88M
Net Income	—	-$227.22M	-$74.67M	-$65.34M
Diluted EPS	—	-24.80	-10.14	-8.08
Diluted Shares	9.17M	9.15M	7.37M	8.09M

SST Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$8.90M	$135.34M	$63.61M	$86.89M
Receivables	$80.43M	$56.09M	$62.92M	$57.29M
Current Assets	$126.51M	$202.00M	$134.48M	$149.48M
Total Assets	$1.16B	$605.47M	$459.13M	$404.97M
Current Liabilities	$211.07M	$86.42M	$105.09M	$146.44M
Long-Term Debt	$399.50M	$334.23M	$255.12M	$228.40M
Total Debt	$422.55M	$355.42M	$274.98M	$314.73M
Total Liabilities	$689.78M	$436.15M	$374.13M	$387.55M
Retained Earnings	-$439.30M	-$707.66M	-$782.34M	-$847.68M
Shareholders' Equity	$392.02M	$135.28M	$80.26M	$30.47M
Working Capital	-$84.57M	$115.59M	$29.38M	$3.04M
Net Debt	$405.62M	$214.16M	$207.92M	$218.23M

SST Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$60.70M	-$24.74M	-$5.25M	-$4.15M
Capital Expenditure	-$6.54M	-$7.96M	-$6.25M	-$6.72M
Free Cash Flow	$54.17M	-$32.70M	-$11.51M	-$10.87M
Depreciation & Amortisation	$13.88M	$105.21M	$80.11M	$82.86M
Stock-Based Compensation	$413.00K	$53.09M	$33.71M	$14.74M
Investing Cash Flow	-$6.54M	$203.18M	-$6.25M	-$6.72M
Financing Cash Flow	-$34.59M	-$74.07M	-$63.96M	$31.30M
Dividends Paid	-$14.58M	-$97.00K	—	—
Share Repurchases	$0.00	$0.00	$0.00	-$557.00K
Net Change in Cash	$19.59M	$104.36M	-$75.47M	$20.43M

SST Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$74.51M	$78.11M	$61.56M	$51.94M	$37.23M	$30.20M
Cost of Revenue	$46.08M	$50.21M	$38.82M	$30.63M	$13.86M	$5.93M
Gross Profit	$28.44M	$27.90M	$22.74M	$21.31M	$23.37M	$24.27M
Selling, General & Admin	$41.56M	$43.81M	$38.31M	$38.76M	$37.59M	$31.65M
Operating Expenses	$41.56M	$43.81M	$38.31M	$38.76M	$37.59M	$31.65M
Operating Income	-$13.13M	-$15.90M	-$15.56M	-$17.44M	-$14.21M	-$7.38M
EBITDA	$7.32M	$4.59M	$5.29M	$9.14M	-$38.91M	-$1.47M
Pretax Income	-$20.24M	-$23.09M	-$22.55M	-$18.19M	-$57.67M	-$15.41M
Income Tax	-$387.00K	-$1.55M	-$543.00K	-$398.00K	-$75.00K	-$75.00K
Net Income	-$15.88M	-$17.46M	-$18.52M	-$13.48M	-$47.07M	-$12.60M
Diluted EPS	-2.12	-2.23	-2.30	-1.67	-5.80	-1.53
Diluted Shares	7.49M	7.82M	8.05M	8.09M	8.11M	8.22M

SST Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$43.91M	$63.65M	$54.59M	$86.89M	$51.51M	$40.48M
Receivables	$61.76M	$70.22M	$54.36M	$57.29M	$53.26M	$40.98M
Current Assets	$114.18M	$141.36M	$116.62M	$149.48M	$111.74M	$89.52M
Total Assets	$419.15M	$429.25M	$385.16M	$404.97M	$320.32M	$291.37M
Current Liabilities	$89.68M	$119.89M	$102.12M	$146.44M	$125.85M	$116.96M
Long-Term Debt	$248.46M	$241.79M	$235.11M	$228.40M	$221.65M	$214.88M
Total Debt	$270.28M	$267.37M	$262.70M	$314.73M	$307.68M	$300.64M
Total Liabilities	$351.50M	$375.81M	$350.90M	$387.55M	$359.35M	$344.38M
Retained Earnings	-$798.22M	-$815.68M	-$834.20M	-$847.68M	-$894.75M	-$907.35M
Shareholders' Equity	$67.19M	$58.20M	$42.68M	$30.47M	-$15.42M	-$26.67M
Working Capital	$24.50M	$21.48M	$14.49M	$3.04M	-$14.11M	-$27.44M
Net Debt	$223.52M	$199.69M	$204.65M	$218.23M	$246.95M	$251.31M

SST Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$15.95M	$24.49M	-$2.05M	-$10.64M	-$26.13M	-$2.04M
Capital Expenditure	-$1.55M	-$1.24M	-$2.31M	-$1.63M	-$2.17M	-$1.36M
Free Cash Flow	-$17.50M	$23.25M	-$4.36M	-$12.27M	-$28.31M	-$3.40M
Depreciation & Amortisation	$20.48M	$20.57M	$20.79M	$21.03M	$12.13M	$6.82M
Stock-Based Compensation	$3.46M	$5.38M	$3.71M	$2.19M	$1.26M	$1.35M
Investing Cash Flow	-$1.55M	-$1.56M	-$1.99M	-$1.63M	-$2.17M	-$1.36M
Financing Cash Flow	-$5.30M	-$2.79M	-$5.01M	$44.41M	-$7.74M	-$7.49M
Dividends Paid	-$12.00K	—	—	—	—	—
Share Repurchases	$0.00	—	—	—	-$202.00K	—
Net Change in Cash	-$22.80M	$20.14M	-$9.05M	$32.15M	-$36.05M	-$10.89M

Market Snapshot

About

System1, Inc. operates a responsive acquisition marketing platform for customer acquisition. The company uses data science and machine learning to connect advertisers with consumers across its owned and operated websites and partner network.