System1 Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	54.59	63.61	135.34	8.91	0.05	0.84
Short-Term Investments	-	-	-	-	517.5	517.5
Cash & Short-Term Investments	54.59	63.61	135.34	8.91	517.55	518.34
Cash Growth	-20.99%	-53.00%	1419.85%	-98.28%	-0.15%	1525.62%
Accounts Receivable	54.36	62.92	56.09	80.43	-	-
Other Current Assets	7.67	7.95	10.57	37.18	0.07	0.21
Total Current Assets	116.62	134.48	202	126.51	120.23	1.05
Net Property, Plant & Equipment	4.58	4.75	7.82	9.65	-	-
Other Intangible Assets	180.88	236.78	308.43	378.61	-	-
Goodwill	82.41	82.41	82.41	82.41	-	-
Other Long-Term Assets	0.67	0.72	4.82	563.29	-	-
Total Assets	385.16	459.13	605.47	1,160	517.62	518.55
Accounts Payable	23.07	10.4	9.5	6.71	12.56	0.61
Accrued Expenses	54.26	76.2	59.31	85.78	-	-
Short-Term Debt	-	-	-	-	0.45	-
Current Portion of Long-Term Debt	24.13	16.41	15.27	15.02	-	-
Current Portion of Leases	0.68	2.09	2.33	2.15	-	-
Other Current Liabilities	-	-	-	101.42	-	-
Total Current Liabilities	102.12	105.1	86.42	211.08	13.01	0.61
Long-Term Debt	235.11	255.12	334.23	399.5	-	-
Long-Term Leases	2.78	1.37	3.58	5.88	-	-
Other Long-Term Liabilities	10.88	12.56	11.92	73.33	47.42	81.77
Total Long-Term Liabilities	248.78	269.04	349.74	478.71	47.42	81.77
Total Liabilities	350.9	374.13	436.16	689.79	60.43	82.39
Common Stock	0	0	0.01	0.01	0	0
Additional Paid-in Capital	877.11	863.04	843.11	831.57	-	-
Accumulated Other Comprehensive Income	-0.23	-0.44	-0.18	-0.26	-	-
Retained Earnings	-834.2	-782.34	-707.66	-439.3	-60.31	-81.33
Total Common Shareholders' Equity	42.68	80.26	135.28	392.02	-60.31	-81.33
Minority Interest	-8.42	4.73	34.04	78.65	517.5	517.5
Shareholders' Equity	34.26	85	169.32	470.67	457.19	436.17
Total Liabilities & Equity	385.16	459.13	605.47	1,160	517.62	518.55
Total Debt	262.7	274.98	355.42	422.55	0.45	0
Net Cash (Debt)	-208.11	-211.37	-220.08	-413.64	517.1	518.34
Net Cash Growth	-	-	-	-	-0.24%	-
Net Cash Per Share	-27.38	-30.39	-24.06	-	-	80.82
Book Value	42.68	80.26	135.28	392.02	-60.31	-81.33
Book Value Per Share	5.61	11.54	14.79	-	-	-12.68
Tangible Book Value	-220.61	-238.92	-255.56	-69	-60.31	-81.33
Tangible Book Value Per Share	-29.02	-34.35	-27.94	-	-	-12.68

Updated Sep 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q