# System1 Inc. (SST)

**Exchange:** NYSE  
**Sector:** Industrials  
**Market cap:** $24M  
**Price:** $3.08 (+0.65%)

> System1 Inc. is a technology and marketing company that operates a proprietary end-to-end customer acquisition and monetization platform. The company focuses on matching consumer intent with relevant advertising and content across digital channels, using data science and machine learning to optimize user acquisition and advertising yield. System1 Inc. serves advertisers, publishers, and marketers by helping them acquire high-intent customers at scale and improve return on marketing spend through programmatic and performance-based campaigns. In addition to its advertising technology operations, the company provides consumer security and privacy software solutions, including antivirus and related tools that offer protection and monitoring features for end users. These software offerings are typically delivered as packaged solutions aimed at enhancing online safety and privacy for individuals. Headquartered in Los Angeles, California and founded in 2013, System1 Inc. today participates in the broader digital advertising, martech, and consumer security software markets, positioning itself at the intersection of performance marketing and privacy-focused consumer applications.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $266M | $100M | -$62M | -$65M | $-8.32 |
| 2024 | $344M | $101M | -$89M | -$75M | $-10.74 |
| 2023 | $402M | $161M | -$86M | -$227M | $-2.48 |
| 2022 | $612M | — | -$458M | -$330M | $-3.70 |
| 2021 | $688M | — | $51M | $33M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $405M | $388M | $30M | $87M | $305M |
| 2024 | $459M | $374M | $80M | $64M | $272M |
| 2023 | $605M | $436M | $135M | $135M | $350M |
| 2022 | $1.16B | $690M | $392M | $9M | $415M |
| 2021 | $257M | $285M | -$28M | $48M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$4M | $46,000 | -$4M |
| 2024 | -$5M | $31,000 | -$5M |
| 2023 | -$25M | $2M | -$27M |
| 2022 | $3M | $4M | -$229,000 |
| 2021 | $61M | $49,000 | $61M |

Source: [CompaniesByCap](https://companiesbycap.com/company/SST)