System1, Inc.(SST)Earnings, Financials & Key Ratios

SST•NYSE

$2.57

Price updated Jul 7, 2026

SectorIndustrials IndustryBusiness Services Sub-IndustryMarketing, Printing and Investor Communications

AboutSystem1, Inc. develops technology and data science to operate responsive acquisition marketing platform. The company also operates a real-time coupon code search engine and directory that offers coupon destinations for online shoppers. It serves customers in the areas of health, subscription, finance, insurance, business and technology, travel, auto, and other direct-to-consumer businesses. The company was founded in 2013 and is based in Los Angeles, California.Show more

Revenue$266M-22.6%
EBITDA$21M+345.1%
Net Income-$65M+12.5%
EPS (Diluted)-8.32-677.6%
Gross Margin37.72%-14.8%
EBITDA Margin7.82%+416.8%
Operating Margin-23.31%+9.5%
Net Margin-24.55%-13.1%
ROE-127.61%-117.3%

SST Price & Volume

System1, Inc. (SST) stock price & volume — 10-year historical chart

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System1 Faces Severe Structural Revenue Contraction Risks

Investment Thesis • Updated 2026Q1

VerdictNegative

Growth:Contracting

Profitability:Negative

Financial:Vulnerable

Cash Flow:Burning

Primary Risk:Arbitrage spread compression

Key Thesis Takeaways

System1's reliance on a volatile digital advertising arbitrage model has resulted in a persistent inability to achieve positive operating margins, which reached -38.2% in 2026Q1.
The company's financial health is increasingly precarious, evidenced by a shift to a negative $15.4 million equity position and a current ratio that has deteriorated to 0.89.
Investors should remain cautious as the firm struggles to scale its platform while facing a 50% year-over-year revenue decline.

Verdict Logic

the company's transition to a negative $15.4 million equity position and persistent operating losses suggest significant insolvency risk.

SST Growth Metrics

System1, Inc. (SST) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years-10.98%

3 Years-26.31%

TTM-31.38%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-20.63%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-982.88%

Return on Capital

10 Years-13.86%

5 Years-27.64%

3 Years-17.42%

Last Year-20.26%

SST Recent Earnings

System1, Inc. (SST) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 1/12 qtrs (8%)●Beat Revenue 6/12 qtrs (50%)

Q2 2026Latest

May 12, 2026

Metric

Actual

Est

EPS

$2.22-3.7%

$2.14

Rev

$37M-32.5%

$55M

Q2 2026

Mar 11, 2026

Metric

Actual

Est

EPS

$2.29-13.4%

$2.02

Rev

$52M-2.1%

$53M

Q4 2025

Nov 5, 2025

Metric

Actual

Est

EPS

$2.30-13.9%

$2.02

Rev

$62M+16.1%

$53M

Q3 2025

Aug 7, 2025

Metric

Actual

Est

EPS

$2.23+14.2%

$2.60

Rev

$78M+1.4%

$77M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 12, 2026	$2.22vs $2.14-3.7%	$37Mvs $55M-32.5%
Q2 2026	Mar 11, 2026	$2.29vs $2.02-13.4%	$52Mvs $53M-2.1%
Q4 2025	Nov 5, 2025	$2.30vs $2.02-13.9%	$62Mvs $53M+16.1%
Q3 2025	Aug 7, 2025	$2.23vs $2.60+14.2%	$78Mvs $77M+1.4%

Based on last 12 quarters of dataView full earnings history →

Latest SST News

Recent stock market news and headlines for System1, Inc. (SST)

Business Wire·Jun 23, 2026

Alderbuck Energy to Deploy 800 VDC Solid-State Transformer Platform at San Diego Supercomputer Center

SAN DIEGO--(BUSINESS WIRE)--Alderbuck Energy today announced that its Nexus Power Unit™ (NPU), will be deployed at the San Diego Supercomputer Center at University of California San Diego. The NPU is a cutting-edge medium-voltage solid-state transformer (SST) platform and is set to enable the next generation of smart grids, where multiple assets and complex power flows can be managed in concert. The deployment is part of the California Energy Commission-funded project, “Accelerating Grid-Intera.

Peers Comparison

Key metrics vs top competitors for System1, Inc. (SST)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
SSTSystem1, Inc.Current	$2.57	$25.61M	-0.31	-22.62%	-24.55%	-127.61%	0.16%
TPVGTriplePoint Venture Growth BDC Corp.	$4.75	$192.85M	3.89	36.55%	-19.55%	-3.39%	—
QNSTQuinStreet, Inc.	$16.27	$934.64M	201.61	78.27%	5.53%	23.85%	—
RAMPLiveRamp Holdings, Inc.	$37.57	$2.26B	16.70	9.03%	17.95%	15.26%	—
ACMRACM Research, Inc.	$94.66	$6.27B	69.09	15.24%	9.48%	5.13%	—
FLNTFluent, Inc.	$3.87	$75.59M	-3.69	-18.01%	-12.22%	-134.35%	—

Compare SST vs Peers

System1, Inc. (SST) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TPVG

Most directly comparable listed peer for SST.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare SST against a more recognizable public peer.

Peer Set

Compare Top 5

vs TPVG, QNST, RAMP, ACMR

SST SEC Filings & Documents

System1, Inc. (SST) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 12, 2026·SEC

Material company update

May 12, 2026·SEC

Material company update

Mar 11, 2026·SEC

10-K Annual Reports

FY 2026

Mar 11, 2026·SEC

FY 2025

Mar 10, 2025·SEC

10-Q Quarterly Reports

FY 2026

May 12, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 7, 2025·SEC

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SST Frequently Asked Questions

System1, Inc. (SST) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is System1, Inc.'s revenue?

System1, Inc. (SST) reported $228.8M in revenue for fiscal year 2025. This represents a 44% decrease from $407.5M in 2019.

How fast is System1, Inc. growing?

System1, Inc. (SST) saw revenue decline by 22.6% over the past year.

Is SST profitable?

System1, Inc. (SST) reported a net loss of $96.5M for fiscal year 2025.

Dividend & Returns

Does SST pay dividends?

Yes, System1, Inc. (SST) pays a dividend with a yield of 0.16%. This makes it attractive for income-focused investors.

What is SST's return on equity?

System1, Inc. (SST) has a return on equity (ROE) of -127.6%. Negative ROE indicates the company is unprofitable.

What is System1, Inc.'s free cash flow?

System1, Inc. (SST) had negative free cash flow of $19.4M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in SST back in 2019?

Total return calculator · dividends reinvested · 7+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 12, 2026

$2.22vs $2.14-3.7%

$37Mvs $55M-32.5%

Q2 2026

Mar 11, 2026

$2.29vs $2.02-13.4%

$52Mvs $53M-2.1%

Q4 2025

Nov 5, 2025

$2.30vs $2.02-13.9%

$62Mvs $53M+16.1%

Q3 2025

Aug 7, 2025

$2.23vs $2.60+14.2%

$78Mvs $77M+1.4%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

SSTSystem1, Inc.Current

$2.57

$25.61M

-0.31

-22.62%

-24.55%

-127.61%

0.16%

TPVGTriplePoint Venture Growth BDC Corp.

$4.75

$192.85M

3.89

36.55%

-19.55%

-3.39%

—

QNSTQuinStreet, Inc.

$16.27

$934.64M

201.61

78.27%

5.53%

23.85%

—

RAMPLiveRamp Holdings, Inc.

$37.57

$2.26B

16.70

9.03%

17.95%

15.26%

—

ACMRACM Research, Inc.

$94.66

$6.27B

69.09

15.24%

9.48%

5.13%

—

FLNTFluent, Inc.

$3.87

$75.59M

-3.69

-18.01%

-12.22%

-134.35%

—