System1, Inc. (SST)
NYSE: SST · Real-Time Price · USD
2.350
+0.650 (38.24%)
At close: Aug 14, 2026, 4:00 PM EDT
2.220
-0.130 (-5.53%)
Pre-market: Aug 17, 2026, 5:19 AM EDT

System1 Financials Overview

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Revenue
180.94266.13343.93401.97664.94688.39
Revenue Growth
-42.93%-22.62%-14.44%-39.55%-3.41%44.63%
Gross Profit
12.337.65-12.1946.7215.37100.53
Operating Income
-54.6-62.04-88.6-85.99-121.650.83
Net Income
-91.67-65.35-74.67-227.22-367.4533
Earnings Per Share
-11.31-8.32-10.74-24.85-43.5316.11
EPS Growth
------48.25%

Revenue by Segment

Fiscal YearTTMFY 2025FY 2024
Period EndingJun '26 Dec '25 Dec '24
Marketing
95.61172.89263.39
Products
85.3293.2480.54
Total
180.94266.13343.93

Cash & Debt

Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash & Investments
40.4886.8963.61135.348.9147.9
Total Debt
300.65314.73274.98355.42422.55170.45
Net Cash (Debt)
-260.16-227.84-211.37-220.08-413.64-122.56
Net Cash Growth
------
Net Cash Per Share
-32.11-29.01-30.39-24.06-49.01-59.82

Cash Flow & CapEx

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operating Cash Flow
-40.86-4.15-5.26-24.74-7.2960.71
Capital Expenditures
-0.05-0.05-0.03-2.35-3.55-0.05
Free Cash Flow
-40.91-4.19-5.29-27.1-10.8360.66
Free Cash Flow Growth
-----30.36%

Margins

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Gross Margin
6.81%2.87%-3.54%11.62%2.31%14.60%
Operating Margin
-30.18%-23.31%-25.76%-21.39%-18.29%7.38%
Pretax Margin
-62.90%-31.59%-28.40%-32.75%-79.82%4.93%
Profit Margin
-50.66%-24.55%-21.71%-56.53%-55.26%4.79%
FCF Margin
-22.61%-1.58%-1.54%-6.74%-1.63%8.81%

Valuation

Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingAug '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
PE Ratio
-----19.53
Forward PE
-89.6089.6089.608.8571.14
P/FCF Ratio
-----10.62
PS Ratio
0.140.120.190.520.650.94