System1, Inc. (SST) quarterly income statement — complete revenue, gross profit & net income history
System1, Inc. (SST) annual income statement — 7-year revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | 30.2M | 37.23M | 51.94M | 61.56M | 78.11M | 74.51M | 75.59M | 88.83M | 94.58M | 84.92M | 96.12M | 87.82M | 96.91M | 121.12M | 0 | 156.9M | 219.8M | 0 | 199.8M | 171.45M |
| Revenue Growth % | -61.34% | -50.03% | -31.29% | -30.7% | -17.41% | -12.25% | -21.35% | 1.15% | -2.41% | -29.89% | - | -44.03% | -55.91% | - | -100% | -8.49% | 29.61% | -100% | 47.18% | - |
| Cost of Goods Sold | 5.93M | 41.88M | 58.21M | 67.62M | 76.51M | 71.06M | 77.04M | 100.48M | 109.68M | 97.98M | 102.31M | 50.59M | 56.66M | 82.95M | 0 | 141.49M | 152.56M | 0 | 173.99M | 128.88M |
| COGS % of Revenue | 19.62% | 112.48% | 112.06% | 109.84% | 97.94% | 95.37% | 101.91% | 113.11% | 115.96% | 115.39% | 106.44% | 57.6% | 58.46% | 68.49% | - | 90.18% | 69.41% | - | 87.08% | 75.18% |
| Gross Profit | 24.27M | -4.65M | -6.27M | -6.06M | 1.61M | 3.45M | -1.45M | -11.64M | -15.1M | -13.07M | -6.19M | 37.23M | 40.26M | 38.16M | 0 | 15.41M | 67.24M | 0 | 25.81M | 42.56M |
| Gross Margin % | 80.38% | -12.48% | -12.06% | -9.84% | 2.06% | 4.63% | -1.91% | -13.11% | -15.96% | -15.39% | -6.44% | 42.4% | 41.54% | 31.51% | - | 9.82% | 30.59% | - | 12.92% | 24.82% |
| Gross Profit Growth % | 1411.46% | -234.77% | -333.33% | 47.97% | 110.64% | 126.39% | 76.63% | -131.27% | -137.5% | -134.24% | - | 141.65% | -40.13% | - | -100% | -63.8% | 54.89% | -100% | 11.23% | - |
| Operating Expenses | 32.56M | 9.57M | 11.18M | 9.51M | 17.51M | 16.57M | 10.46M | 10.17M | 13.99M | 12.73M | 12.3M | 58.09M | 62.08M | 62.39M | 0 | 370.6M | 98.35M | 0 | 18.27M | 26.53M |
| OpEx % of Revenue | 107.83% | 25.7% | 21.52% | 15.44% | 22.42% | 22.24% | 13.83% | 11.45% | 14.79% | 14.99% | 12.8% | 66.14% | 64.06% | 51.52% | - | 236.21% | 44.75% | - | 9.15% | 15.48% |
| Selling, General & Admin | 14.54M | 9.57M | 11.18M | 9.51M | 17.51M | 16.57M | 10.46M | 10.17M | 13.99M | 12.73M | 12.3M | 38.5M | 42.39M | 43M | 0 | 11.57M | 66.26M | 0 | 0 | 23.07M |
| SG&A % of Revenue | 48.15% | 25.7% | 21.52% | 15.44% | 22.42% | 22.24% | 13.83% | 11.45% | 14.79% | 14.99% | 12.8% | 43.84% | 43.74% | 35.5% | - | 7.38% | 30.15% | - | - | 13.46% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 869K | 0 | 0 | 557K | 0 | 90K | 0 | 0 | 1.39M | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | 0.9% | - | - | 0.46% | - | 0.06% | - | - | 0.7% | - |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -869K | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 0 | 1000K | 1000K |
| Operating Income | -8.29M | -14.21M | -17.44M | -15.56M | -15.9M | -13.13M | -11.9M | -21.82M | -29.09M | -25.8M | -18.49M | -20.85M | -21.82M | -24.23M | 0 | -355.2M | -31.11M | 0 | 7.54M | 16.03M |
| Operating Margin % | -27.45% | -38.18% | -33.58% | -25.28% | -20.36% | -17.62% | -15.75% | -24.56% | -30.75% | -30.38% | -19.24% | -23.75% | -22.52% | -20% | - | -226.39% | -14.16% | - | 3.77% | 9.35% |
| Operating Income Growth % | 47.87% | -8.3% | -46.55% | 28.65% | 45.32% | 49.12% | 35.63% | -4.61% | -33.27% | -6.47% | - | 94.13% | 29.85% | - | -100% | -2316.24% | -290.58% | -100% | -47.15% | - |
| EBITDA | 10.66M | -2.09M | 3.59M | 5.22M | 4.66M | 7.35M | 8.33M | -1.7M | -9.14M | -5.99M | 1.25M | 7.08M | 6.23M | 5.14M | 0 | -322.41M | 981K | 0 | 9.77M | 19.49M |
| EBITDA Margin % | 35.3% | -5.6% | 6.9% | 8.49% | 5.97% | 9.87% | 11.02% | -1.91% | -9.67% | -7.06% | 1.3% | 8.07% | 6.43% | 4.25% | - | -205.5% | 0.45% | - | 4.89% | 11.37% |
| EBITDA Growth % | 128.71% | -128.38% | -56.94% | 407.11% | 150.98% | 222.68% | 568.3% | -124.01% | -246.83% | -216.46% | - | 102.2% | 534.76% | - | -100% | -1754.59% | -94.95% | -100% | -42.64% | - |
| D&A (Non-Cash Add-back) | 18.95M | 12.13M | 21.03M | 20.79M | 20.57M | 20.48M | 20.23M | 20.11M | 19.94M | 19.8M | 19.74M | 27.94M | 28.05M | 29.37M | 0 | 32.78M | 32.09M | 0 | 2.24M | 3.46M |
| EBIT | -8.29M | -14.21M | -17.44M | -15.56M | -15.9M | -13.13M | -11.9M | -21.82M | -29.09M | -25.8M | -21.64M | -13.99M | -23.84M | -22.82M | 0 | -15.09M | -26.97M | 0 | 7.54M | 16.03M |
| Net Interest Income | -7.12M | -6.63M | -6.3M | -7.05M | -7.12M | -7.08M | -7.76M | -7.96M | -7.87M | -7.97M | -11.96M | -13.05M | -12.33M | -11.4M | 0 | -9.73M | -7.32M | 0 | 0 | -4.18M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.94M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 7.12M | 6.63M | 6.3M | 7.05M | 7.12M | 7.08M | 7.76M | 7.96M | 7.87M | 7.97M | 11.96M | 13.05M | 12.33M | 11.4M | 9.94M | 9.73M | 7.32M | 0 | 0 | 4.18M |
| Other Income/Expense | -7.12M | -43.45M | -746K | -6.98M | -7.18M | -7.12M | -6.85M | -8.24M | -5.94M | 11.96M | -15.11M | -6.19M | -14.35M | -9.99M | 0 | 125.37M | -3.19M | 0 | -4.16M | -4.18M |
| Pretax Income | -15.41M | -57.67M | -18.19M | -22.55M | -23.09M | -20.24M | -18.75M | -30.05M | -35.02M | -13.84M | -33.6M | -27.04M | -36.18M | -34.22M | 0 | -229.83M | -34.3M | 0 | 3.38M | 11.84M |
| Pretax Margin % | -51.02% | -154.87% | -35.02% | -36.62% | -29.56% | -27.17% | -24.81% | -33.83% | -37.03% | -16.3% | -34.95% | -30.8% | -37.33% | -28.26% | - | -146.48% | -15.6% | - | 1.69% | 6.91% |
| Income Tax | -75K | -75K | -398K | -543K | -1.55M | -387K | -729K | 585K | -178K | -48K | -9.74M | -1.12M | -6.67M | -3.83M | 0 | 69.8M | -454K | 0 | 262K | 475K |
| Effective Tax Rate % | 0.49% | 0.13% | 2.19% | 2.41% | 6.7% | 1.91% | 3.89% | -1.95% | 0.51% | 0.35% | 29.01% | 4.13% | 18.44% | 11.19% | - | -30.37% | 1.32% | - | 7.76% | 4.01% |
| Net Income | -12.6M | -47.07M | -13.48M | -18.52M | -17.46M | -15.88M | -14.16M | -23.6M | -26.37M | -10.54M | -26.61M | -131.49M | -34.3M | -33.8M | 0 | -241.7M | -25.74M | 0 | 3.11M | 11.37M |
| Net Margin % | -41.72% | -126.41% | -25.96% | -30.08% | -22.36% | -21.32% | -18.73% | -26.57% | -27.88% | -12.41% | -27.68% | -149.73% | -35.39% | -27.91% | - | -154.05% | -11.71% | - | 1.56% | 6.63% |
| Net Income Growth % | 27.85% | -196.34% | 4.79% | 21.55% | 33.78% | -50.74% | 46.78% | 82.05% | 23.11% | 68.83% | - | 45.6% | -33.28% | - | -100% | -2226.12% | -318.63% | -100% | -95% | - |
| Net Income (Continuing) | -15.33M | -57.59M | -17.79M | -22M | -21.54M | -19.86M | -18.02M | -30.64M | -34.84M | -13.79M | -23.85M | -25.93M | -29.51M | -30.39M | 0 | -299.62M | -33.84M | 0 | 3.11M | 11.37M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1000K | -1000K | -1000K | -1000K | 0 | -1000K | 0 | 0 | 0 | 0 |
| 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 |
| EPS (Diluted) | -1.54 | -5.82 | -1.67 | -2.30 | -2.23 | -0.21 | -0.19 | -0.33 | -0.38 | -0.16 | -0.29 | -1.40 | -0.38 | -0.36 | -0.56 | -0.41 | -0.38 | -0.68 | -0.11 | 0.13 |
| EPS Growth % | 30.94% | -2671.43% | -778.95% | -596.97% | -486.84% | -31.25% | 34.48% | 76.43% | 0% | 55.56% | 48.21% | -241.46% | 0% | 47.06% | -409.09% | -415.38% | -392.31% | -999.47% | -114.47% | - |
| EPS (Basic) | -1.54 | -5.82 | -1.67 | -2.30 | -2.23 | -0.21 | -0.19 | -0.33 | -0.38 | -0.16 | -0.29 | -1.40 | -0.38 | -0.36 | -0.56 | -0.41 | -0.38 | -0.68 | -0.11 | 0.13 |
| Diluted Shares Outstanding | 8.16M | 8.09M | 8.09M | 8.05M | 7.82M | 74.39M | 73.65M | 70.46M | 69.38M | 67.78M | 92.56M | 93.94M | 93.42M | 92.77M | 91.67M | 91M | 89.7M | 86.6M | 81.7M | 89.25M |
| Basic Shares Outstanding | 8.16M | 8.09M | 8.09M | 8.05M | 7.82M | 74.39M | 73.65M | 70.46M | 69.38M | 67.78M | 92.56M | 93.94M | 93.42M | 92.77M | 91.67M | 91M | 89.7M | 86.6M | 81.7M | 89.25M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 153.74% | 62.47% |