System1, Inc. (SST) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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SST Revenue Growth
Revenue Breakdown (FY 2025)
SST's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
SST Revenue Analysis (2019–2025)
As of May 8, 2026, System1, Inc. (SST) generated trailing twelve-month (TTM) revenue of $266.1 million, reflecting significant decline in growth of -31.3% year-over-year. The most recent quarter (Q4 2025) recorded $51.9 million in revenue, down 15.6% sequentially.
Looking at the longer-term picture, SST's 5-year compound annual growth rate (CAGR) stands at -11.0%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $688.4 million in 2021.
Revenue diversification analysis shows SST's business is primarily driven by Marketing Segment (65%), and Products Segment (35%). With over half of revenue concentrated in Marketing Segment, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including TPVG, QNST (+14.7% YoY), and RAMP (+9.2% YoY), SST has underperformed the peer group in terms of revenue growth. Compare SST vs TPVG →
SST Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SSTCurrent | $266M | -31.3% | -11.0% | -23.3% | |
 TPVG | $97M | - | - | 77.9% | |
 QNST | $1.1B | +14.7% | +17.4% | 0.6% | |
 RAMP | $746M | +9.2% | +14.4% | 0.7% | |
 ACMR | $901M | +15.2% | +41.9% | 12.1% | |
 FLNT | $209M | -18.0% | -7.6% | -9.7% |
SST Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $266.1M | -22.6% | $100.4M | 37.7% | $-62,040,000 | -23.3% |
| 2024 | $343.9M | -14.4% | $152.4M | 44.3% | $-88,601,000 | -25.8% |
| 2023 | $402.0M | -39.5% | $46.7M | 11.6% | $-85,989,000 | -21.4% |
| 2022 | $664.9M | -3.4% | $15.4M | 2.3% | $-494,324,000 | -74.3% |
| 2021 | $688.4M | +44.6% | $86.6M | 12.6% | $50.8M | 7.4% |
| 2020 | $476.0M | +16.8% | $135.0M | 28.4% | $42.6M | 9.0% |
| 2019 | $407.5M | - | $131.7M | 32.3% | $52.1M | 12.8% |
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Start ComparisonSST — Frequently Asked Questions
Quick answers to the most common questions about buying SST stock.
Is SST's revenue growth accelerating or slowing?
SST revenue declined -31.3% year-over-year, contrasting with the 5-year CAGR of -11.0%. TTM revenue fell to $266M. This reverses the prior growth trend.
What is SST's long-term revenue growth rate?
System1, Inc.'s 5-year revenue CAGR of -11.0% reflects the variable expansion pattern. Current YoY growth of -31.3% is below this long-term average.
How is SST's revenue distributed by segment?
SST reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.