System1, Inc. (SST) quarterly balance sheet — complete assets, liabilities & equity history
System1, Inc. (SST) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Total Current Assets | 89.52M | 111.74M | 149.48M | 116.62M | 141.36M | 114.18M | 134.48M | 135.21M | 148.62M | 139.68M | 202M | 90.53M | 95.13M | 97.51M | 126.51M | 126.87M | 146.27M | 161.52M | 145.79M | 129.03M |
| Cash & Short-Term Investments | 40.48M | 51.51M | 86.89M | 54.59M | 63.65M | 43.91M | 63.61M | 69.09M | 75.65M | 69.92M | 135.34M | 4.85M | 8.6M | 8.27M | 8.9M | 31.93M | 37.44M | 42.18M | 47.9M | 36.21M |
| Cash Only | 40.48M | 51.51M | 86.89M | 54.59M | 63.65M | 43.91M | 63.61M | 69.09M | 75.65M | 69.92M | 135.34M | 4.85M | 8.6M | 8.27M | 8.9M | 31.93M | 37.44M | 42.18M | 47.9M | 36.21M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 40.98M | 53.26M | 57.29M | 54.36M | 70.22M | 61.76M | 62.92M | 57.6M | 61.91M | 52.73M | 56.09M | 59.39M | 62.79M | 69.32M | 80.43M | 78.85M | 93.4M | 99.98M | 90.2M | 85.59M |
| Days Sales Outstanding | 141.98 | 133.6 | 98.88 | 93.08 | 76.87 | 75.29 | 73.34 | 61.89 | 55.15 | 58.31 | 55.27 | 64 | 62.02 | 55.64 | - | 50.5 | 40.03 | - | 40.47 | 45.93 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | 29.53 | - | - | - | - | - | - | - | - |
| Other Current Assets | 500K | 6.97M | 5.3M | 7.67M | 7.49M | 8.51M | 7.95M | 8.51M | 11.06M | 17.02M | 10.57M | 0 | 23.74M | 19.92M | 37.17M | 7.34M | 5.76M | 4.89M | 7.62M | 0 |
| Total Non-Current Assets | 201.85M | 208.59M | 255.49M | 268.54M | 287.89M | 304.97M | 324.65M | 344.11M | 362.71M | 381.38M | 403.47M | 837.02M | 983.08M | 1.01B | 1.03B | 1.44B | 1.47B | 1.5B | 111.12M | 112.2M |
| Property, Plant & Equipment | 22.77M | 10.18M | 10.68M | 4.58M | 5.22M | 4.08M | 4.75M | 5.73M | 6.37M | 7.08M | 7.82M | 8.39M | 10.68M | 10.52M | 9.65M | 11.24M | 11.86M | 9.24M | 830K | 836K |
| Fixed Asset Turnover | 1.83x | 3.57x | 6.81x | 12.57x | 16.81x | 16.88x | 14.43x | 14.68x | 14.07x | 11.40x | 11.86x | 9.21x | 9.14x | 12.01x | - | 13.58x | 20.83x | - | 239.86x | 205.08x |
| Goodwill | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 82.41M | 515.59M | 515.59M | 82.41M | 904.24M | 907.25M | 907.01M | 44.82M | 44.82M |
| Intangible Assets | 96.01M | 101.36M | 161.76M | 180.88M | 199.55M | 218.17M | 236.78M | 241.01M | 273.12M | 290.88M | 308.43M | 327M | 447.49M | 472.77M | 378.61M | 518.62M | 549.56M | 579.38M | 61.58M | 63.55M |
| Long-Term Investments | 0 | 379K | 0 | 0 | 0 | 0 | 371K | 371K | 0 | 0 | 0 | 4.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 666K | 14.26M | 642K | 673K | 711K | 319K | 349K | 14.6M | 815K | 1.02M | 4.82M | 419.22M | 9.32M | 8.4M | 563.29M | 3.48M | 2.31M | 3.84M | 3.89M | 3M |
| Total Assets | 291.37M | 320.32M | 404.97M | 385.16M | 429.25M | 419.15M | 459.13M | 479.31M | 511.34M | 521.06M | 605.47M | 927.54M | 1.08B | 1.1B | 1.16B | 1.56B | 1.62B | 1.66B | 256.91M | 241.23M |
| Asset Turnover | 0.10x | 0.10x | 0.13x | 0.15x | 0.18x | 0.17x | 0.16x | 0.18x | 0.18x | 0.15x | 0.13x | 0.09x | 0.09x | 0.11x | - | 0.10x | 0.13x | - | 0.80x | 0.45x |
| Asset Growth % | -32.12% | -23.58% | -11.8% | -19.64% | -16.05% | -19.56% | -24.17% | -48.32% | -52.58% | -52.84% | -47.82% | -40.71% | -33.33% | -33.49% | 351.7% | 548.52% | 212.34% | 220.66% | -50.46% | - |
| Total Current Liabilities | 116.96M | 125.85M | 146.44M | 102.12M | 119.89M | 89.68M | 105.09M | 99.16M | 101.72M | 77.97M | 86.42M | 237.69M | 209.92M | 199.35M | 211.07M | 207.12M | 200.36M | 225.25M | 276.55M | 258.82M |
| Accounts Payable | 15.14M | 14.29M | 22.02M | 23.07M | 28.06M | 7.64M | 10.4M | 9.42M | 6.25M | 7.05M | 9.5M | 10.6M | 19.94M | 11.26M | 6.71M | 12.24M | 17.29M | 76M | 72.85M | 64.63M |
| Days Payables Outstanding | 225.96 | 39.01 | 35.63 | 34.78 | 21.23 | 11.42 | 11.84 | 7.17 | 5.52 | 7.69 | 9.04 | 27.78 | 25.06 | 9.75 | - | 9.6 | 27.82 | - | 36.34 | 46.13 |
| Short-Term Debt | 76.92M | 76.82M | 76.72M | 24.13M | 21.54M | 18.97M | 16.41M | 16.34M | 16.27M | 16.19M | 15.27M | 15.21M | 15.14M | 15.07M | 15.02M | 14.95M | 14.89M | 14.82M | 170.45M | 171.78M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.69M | 1.76M | 2.08M | 80.46M | 76.35M | 1.55M | 68.29M | 68.37M | 64.81M | 1.97M | 2.1M |
| Other Current Liabilities | 3.67M | 5.4M | 17M | 16.07M | 17.39M | 17.65M | 23.21M | 19.09M | 18.41M | 5.51M | 7.7M | 126.72M | 28.96M | 25.68M | 115.96M | 35.48M | 22.79M | 35.52M | 3.31M | 4.17M |
| Current Ratio | 0.77x | 0.89x | 1.02x | 1.14x | 1.18x | 1.27x | 1.28x | 1.36x | 1.46x | 1.79x | 2.34x | 0.38x | 0.45x | 0.49x | 0.60x | 0.61x | 0.73x | 0.72x | 0.53x | 0.50x |
| Quick Ratio | 0.77x | 0.89x | 1.02x | 1.14x | 1.18x | 1.27x | 1.28x | 1.36x | 1.46x | 1.79x | 2.34x | 0.31x | 0.45x | 0.49x | 0.60x | 0.61x | 0.73x | 0.72x | 0.53x | 0.50x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | 65.75 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 227.42M | 233.5M | 241.12M | 248.78M | 255.92M | 261.81M | 269.04M | 277.3M | 280.33M | 282.68M | 349.74M | 449.38M | 471.35M | 469.76M | 478.71M | 561.99M | 589.77M | 606.03M | 8.76M | 9.37M |
| Long-Term Debt | 214.88M | 221.65M | 228.4M | 235.11M | 241.79M | 248.46M | 255.12M | 259.24M | 263.34M | 268.6M | 334.23M | 388.07M | 396.89M | 395.7M | 399.5M | 402.27M | 406.03M | 409.78M | 0 | 0 |
| Capital Lease Obligations | 7.31M | 7.75M | 8.18M | 2.78M | 2.86M | 1.33M | 1.36M | 1.82M | 2.34M | 2.94M | 3.58M | 4.14M | 4.78M | 5.31M | 5.88M | 6.41M | 7.07M | 5.64M | 0 | 0 |
| Deferred Tax Liabilities | 3.57M | 3.55M | 4.01M | 4.66M | 5.22M | 5.61M | 6.2M | 6.73M | 7.04M | 7.65M | 8.31M | 15.01M | 29.85M | 35.99M | 29.4M | 120.72M | 137.35M | 144.03M | 7.79M | 8.02M |
| Other Non-Current Liabilities | 1.65M | 548K | 520K | 6.22M | 6.04M | 6.41M | 6.36M | 9.52M | 7.62M | 3.5M | 3.62M | 42.16M | 39.83M | 32.75M | 43.94M | 32.58M | 39.31M | 46.58M | 969K | 1.35M |
| Total Liabilities | 344.38M | 359.35M | 387.55M | 350.9M | 375.81M | 351.5M | 374.13M | 376.47M | 382.06M | 360.65M | 436.15M | 687.07M | 681.27M | 669.12M | 689.78M | 769.11M | 790.13M | 831.27M | 285.31M | 268.19M |
| Total Debt | 300.64M | 307.68M | 314.73M | 262.7M | 267.37M | 270.28M | 274.98M | 279.73M | 284.33M | 290.1M | 355.42M | 409.7M | 419.05M | 418.29M | 422.55M | 425.74M | 430.05M | 432.14M | 170.45M | 171.78M |
| Net Debt | 260.16M | 256.17M | 227.84M | 208.11M | 203.72M | 226.37M | 211.37M | 210.63M | 208.68M | 220.18M | 220.07M | 404.85M | 410.44M | 410.02M | 413.64M | 393.8M | 392.61M | 389.96M | 122.56M | 135.57M |
| Debt / Equity | - | - | 18.07x | 7.67x | 5.00x | 3.99x | 3.24x | 2.72x | 2.20x | 1.81x | 2.10x | 1.70x | 1.06x | 0.96x | 0.90x | 0.54x | 0.52x | 0.52x | - | - |
| Debt / EBITDA | 28.20x | - | 87.77x | 50.29x | 57.36x | 36.77x | 33.02x | - | - | - | 285.25x | 57.83x | 67.30x | 81.30x | - | - | 438.38x | - | 17.44x | 8.82x |
| Net Debt / EBITDA | 24.41x | - | 63.54x | 39.84x | 43.71x | 30.79x | 25.38x | - | - | - | 176.63x | 57.15x | 65.91x | 79.69x | - | - | 400.21x | - | 12.54x | 6.96x |
| Interest Coverage | -1.17x | -2.14x | -2.77x | -2.21x | -2.24x | -1.85x | -1.53x | -2.74x | -3.70x | -3.24x | -1.81x | -1.07x | -1.93x | -2.00x | - | -1.55x | -3.68x | - | - | 3.83x |
| Total Equity | -53M | -39.02M | 17.42M | 34.26M | 53.44M | 67.66M | 85M | 102.85M | 129.28M | 160.41M | 169.31M | 240.48M | 396.94M | 435.68M | 470.67M | 795.35M | 827.12M | 829.72M | -28.4M | -26.96M |
| Equity Growth % | -199.18% | -157.68% | -79.51% | -66.69% | -58.66% | -57.82% | -49.8% | -57.23% | -67.43% | -63.18% | -64.03% | -69.76% | -52.01% | -47.49% | 1757.23% | 3050.21% | 82.17% | 81.67% | -106.51% | - |
| Book Value per Share | -6.49 | -4.82 | 2.15 | 4.25 | 6.83 | 0.91 | 1.15 | 1.46 | 1.86 | 2.37 | 1.83 | 2.56 | 4.25 | 4.70 | 5.13 | 8.74 | 9.22 | 9.58 | -0.35 | -0.30 |
| Total Shareholders' Equity | -26.67M | -15.42M | 30.47M | 42.68M | 58.2M | 67.19M | 80.26M | 90.31M | 109.41M | 131.74M | 135.28M | 202.73M | 327.28M | 357.05M | 392.02M | 617.18M | 642.82M | 639.35M | -28.4M | -26.96M |
| Common Stock | 1K | 1K | 1K | 1K | 1K | 9K | 9K | 9K | 9K | 9K | 9K | 11K | 11K | 11K | 11K | 11K | 11K | 11K | 0 | -27.18M |
| Retained Earnings | -907.35M | -894.75M | -847.68M | -834.2M | -815.68M | -798.22M | -782.34M | -768.17M | -744.57M | -718.2M | -707.66M | -646.24M | -514.81M | -479.58M | -439.3M | -150.02M | -118.37M | -89.17M | 0 | 0 |
| Treasury Stock | -759K | -759K | -557K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -325K | -222K | -157K | -230K | -133K | -432K | -443K | -262K | -295K | -271K | -181K | -435K | -270K | -479K | -260K | 13K | 179K | -28K | 428K | 223K |
| Minority Interest | -26.33M | -23.6M | -13.05M | -8.42M | -4.75M | 468K | 4.73M | 12.53M | 19.87M | 28.66M | 34.04M | 37.75M | 69.66M | 78.63M | 78.65M | 178.17M | 184.3M | 190.37M | 0 | 0 |