System1, Inc. Income Statement
SST|4 years of annual SEC 10-K data (FY2022-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 4 fiscal years. All figures from audited SEC 10-K filings.
System1, Inc. reported $344M in revenue and $75M in net loss for FY2025. Revenue has declined at a 20.7% compound annual rate over the past 3 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 0.21 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $343.9M | $402.0M | $612.2M | $688.4M |
| Cost of Revenue | $242.6M | $240.9M | - | - |
| SG&A Expense | $76.4M | $54.3M | $50.8M | $35.8M |
| Operating Income | -$88.6M | -$86.0M | -$457.7M | $50.8M |
| Interest Expense | - | - | $31.6M | $16.9M |
| Income Tax | -$370.0K | -$20.4M | -$108.7M | $965.0K |
| Net Income | -$74.7M | -$227.2M | -$330.4M | $33.0M |
| EPS (Basic) | -$10.74 | -$2.48 | -$3.70 | -$3.77 |
| EPS (Diluted) | -$10.74 | -$2.48 | -$3.70 | -$3.77 |
| Shares Outstanding | 7.0M | 91.5M | 89.3M | 89.3M |
| Operating Margin | -25.8% | -21.4% | -74.8% | 7.4% |
| Profit Margin | -21.7% | -56.5% | -54.0% | 4.8% |