System1, Inc. (SST)

System1 Balance Sheet

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	69.09	135.34	8.91	47.9	29.01	31.89
Cash & Short-Term Investments	69.09	135.34	8.91	47.9	29.01	31.89
Cash Growth	1323.70%	1419.85%	-81.41%	65.08%	-9.01%	-
Receivables	57.6	56.09	80.43	90.2	71.14	75.4
Prepaid Expenses	4.38	4.35	11.17	7.69	3.02	2.03
Restricted Cash	4.13	3.81	5.72	-	-	-
Other Current Assets	-	2.4	20.29	-	-	11.04
Total Current Assets	135.21	202	126.51	145.79	103.17	120.35
Property, Plant & Equipment	5.73	7.82	9.65	0.83	1.06	1.35
Goodwill	82.41	82.41	82.41	44.82	44.82	44.82
Other Intangible Assets	255.24	308.43	378.61	61.58	68.67	75.84
Other Long-Term Assets	0.74	4.82	563.29	3.89	-	69.82
Total Assets	479.31	605.47	1,160	256.91	218.68	313.12
Accounts Payable	9.42	9.5	6.71	72.85	52.1	47.81
Accrued Expenses	35.25	34.94	51.67	27.61	6.76	4.34
Current Portion of Long-Term Debt	16.34	15.27	15.02	170.45	9.37	24.24
Current Portion of Leases	2.33	2.33	2.15	-	-	-
Current Income Taxes Payable	-	1.23	1.09	0.36	0.26	1.47
Current Unearned Revenue	26.13	18.12	18.47	1.97	1.89	1.47
Other Current Liabilities	9.69	5.02	115.96	3.31	10.14	53.67
Total Current Liabilities	99.16	86.42	211.08	276.55	80.52	132.99
Long-Term Debt	259.24	334.23	399.5	-	170.6	230.5
Long-Term Leases	1.82	3.58	5.88	-	-	-
Long-Term Deferred Tax Liabilities	6.73	8.31	29.4	7.79	9.41	8.57
Other Long-Term Liabilities	9.52	3.62	43.94	0.97	6.39	7.13
Total Liabilities	376.47	436.16	689.79	285.31	266.91	379.19
Common Stock	0.01	0.01	0.01	-	-47.89	-68.37
Additional Paid-In Capital	858.74	843.11	831.57	-	-	-
Retained Earnings	-768.17	-707.66	-439.3	-28.83	-	-
Comprehensive Income & Other	-0.26	-0.18	-0.26	0.43	-0.34	-0.12
Total Common Equity	90.31	135.28	392.02	-28.4	-48.23	-68.49
Minority Interest	12.53	34.04	78.65	-	-	2.42
Shareholders' Equity	102.85	169.32	470.67	-28.4	-48.23	-66.07
Total Liabilities & Equity	479.31	605.47	1,160	256.91	218.68	313.12
Total Debt	279.73	355.42	422.55	170.45	179.97	254.73
Net Cash (Debt)	-210.63	-220.08	-413.64	-122.56	-150.96	-222.85
Net Cash Per Share	-2.88	-2.41	-4.90	-5.98	-7.37	-10.88
Filing Date Shares Outstanding	70.71	68.42	93.45	85.15	20.49	20.49
Total Common Shares Outstanding	70.46	65.86	91.67	64.69	20.49	20.49
Working Capital	36.04	115.59	-84.57	-130.77	22.65	-12.64
Book Value Per Share	1.28	2.05	4.28	-0.44	-2.35	-3.34
Tangible Book Value	-247.33	-255.56	-69	-134.8	-161.72	-189.14
Tangible Book Value Per Share	-3.51	-3.88	-0.75	-2.08	-7.89	-9.23
Machinery	-	1.74	1.12	0.89	1.71	0.7
Leasehold Improvements	-	2.51	2.47	0.98	1.17	1.36

Source: S&P Capital IQ. Standard template. Financial Sources.