System1, Inc. (SST)

System1 Income Statement

Financials in millions USD. Fiscal year is January - December.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	416.09	401.97	612.23	688.39	475.98	407.49
Revenue Growth (YoY)	-34.77%	-34.34%	-11.06%	44.63%	16.81%	53.46%
Cost of Revenue	256.72	248.75	438.84	521.11	341	275.77
Gross Profit	159.38	153.23	173.39	167.28	134.98	131.72
Selling, General & Admin	173.76	160.81	188.88	102.56	78.53	68.35
Other Operating Expenses	87.18	78.4	442.2	13.89	13.83	12.39
Operating Expenses	260.94	239.22	631.07	116.45	92.36	80.74
Operating Income	-101.56	-85.99	-457.68	50.83	42.62	50.98
Interest Expense / Income	45.32	48.75	31.61	16.87	24.35	26.03
Other Expense / Income	74.25	112.86	-50.22	-	-47.4	15.45
Pretax Income	-221.13	-247.59	-439.07	33.96	65.67	9.5
Income Tax	-17.32	-20.37	-108.68	0.97	1.91	0.7
Net Income	-203.81	-227.22	-330.39	33	63.76	8.8
Net Income Growth	-	-	-	-48.25%	624.97%	-
Shares Outstanding (Basic)	68	91	89	20	20	20
Shares Outstanding (Diluted)	68	91	89	20	20	20
Shares Change	-26.94%	2.40%	335.91%	-	-	-
EPS (Basic)	-2.27	-2.48	-3.70	1.61	3.11	0.43
EPS (Diluted)	-2.27	-2.48	-3.70	1.61	3.11	0.43
EPS Growth	-	-	-	-48.23%	623.26%	-
Free Cash Flow	-42.12	-32.7	-6.62	54.17	40.42	26.02
Free Cash Flow Per Share	-0.62	-0.36	-0.07	2.64	1.97	1.27
Gross Margin	38.30%	38.12%	28.32%	24.30%	28.36%	32.33%
Operating Margin	-24.41%	-21.39%	-74.76%	7.38%	8.95%	12.51%
Profit Margin	-48.98%	-56.53%	-53.97%	4.79%	13.40%	2.16%
Free Cash Flow Margin	-10.12%	-8.14%	-1.08%	7.87%	8.49%	6.38%
Effective Tax Rate	-	-	-	2.84%	2.90%	7.39%
EBITDA	-78.46	-91.96	-287.28	64.72	103.85	46.77
EBITDA Margin	-18.86%	-22.88%	-46.92%	9.40%	21.82%	11.48%
Depreciation & Amortization	97.34	106.89	120.18	13.89	13.83	11.24
EBIT	-175.8	-198.85	-407.46	50.83	90.02	35.53
EBIT Margin	-42.25%	-49.47%	-66.55%	7.38%	18.91%	8.72%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).