System1 Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	51.51	86.89	63.61	135.34	8.91	0.05
Short-Term Investments	-	-	-	-	-	517.5
Cash & Short-Term Investments	51.51	86.89	63.61	135.34	8.91	517.55
Cash Growth	17.31%	36.60%	-53.00%	1419.85%	-98.28%	-0.15%
Accounts Receivable	53.26	57.29	62.92	56.09	80.43	-
Other Current Assets	6.97	5.3	7.95	10.57	37.18	0.07
Total Current Assets	111.74	149.48	134.48	202	126.51	120.23
Net Property, Plant & Equipment	10.18	10.68	4.75	7.82	9.65	-
Other Intangible Assets	115.26	161.76	236.78	308.43	378.61	-
Goodwill	82.41	82.41	82.41	82.41	82.41	-
Other Long-Term Assets	0.74	0.64	0.72	4.82	563.29	-
Total Assets	320.33	404.97	459.13	605.47	1,160	517.62
Accounts Payable	14.29	22.02	10.4	9.5	6.71	12.56
Accrued Expenses	33.28	46.28	76.2	59.31	85.78	-
Short-Term Debt	-	-	-	-	-	0.45
Current Portion of Long-Term Debt	76.82	76.72	16.41	15.27	15.02	-
Current Portion of Leases	1.47	1.43	2.09	2.33	2.15	-
Other Current Liabilities	-	-	-	-	101.42	-
Total Current Liabilities	125.85	146.44	105.1	86.42	211.08	13.01
Long-Term Debt	221.65	228.4	255.12	334.23	399.5	-
Long-Term Leases	7.75	8.18	1.37	3.58	5.88	-
Other Long-Term Liabilities	4.1	4.53	12.56	11.92	73.33	47.42
Total Long-Term Liabilities	233.5	241.12	269.04	349.74	478.71	47.42
Total Liabilities	359.35	387.55	374.13	436.16	689.79	60.43
Common Stock	0	0	0	0.01	0.01	0
Additional Paid-in Capital	880.3	878.86	863.04	843.11	831.57	-
Accumulated Other Comprehensive Income	-0.22	-0.16	-0.44	-0.18	-0.26	-
Retained Earnings	-894.75	-847.68	-782.34	-707.66	-439.3	-60.31
Total Common Shareholders' Equity	-14.67	31.02	80.26	135.28	392.02	-60.31
Minority Interest	-23.6	-13.05	4.73	34.04	78.65	517.5
Shareholders' Equity	-38.27	17.98	85	169.32	470.67	457.2
Total Liabilities & Equity	320.33	404.97	459.13	605.47	1,160	517.62
Total Debt	307.68	314.73	274.98	355.42	422.55	0.45
Net Cash (Debt)	-256.17	-227.84	-211.37	-220.08	-413.64	517.1
Net Cash Growth	-	-	-	-	-	-0.24%
Net Cash Per Share	-31.96	-29.01	-30.39	-24.06	-45.12	99.92
Book Value	-14.67	31.02	80.26	135.28	392.02	-60.31
Book Value Per Share	-1.83	3.95	11.54	14.79	42.76	-11.65
Tangible Book Value	-212.33	-213.14	-238.92	-255.56	-69	-60.31
Tangible Book Value Per Share	-26.49	-27.14	-34.35	-27.94	-7.53	-11.65

Updated May 12, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q