SST
System1 Inc
NYSE: SST · INDUSTRIALS · SPECIALTY BUSINESS SERVICES
$3.67
-7.09% today
Updated 2026-04-29
Market cap
$36.69M
P/E ratio
—
P/S ratio
0.14x
EPS (TTM)
$-8.32
Dividend yield
—
52W range
$1 – $15
Volume
3.8M
System1 Inc (SST) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $265.53M | $407.49M | $475.98M | $688.39M | $664.94M | $401.97M | $343.93M | $266.13M |
| Revenue growth (YoY) | — | +53.5% | +16.8% | +44.6% | -3.4% | -39.5% | -14.4% | -22.6% |
| Cost of revenue | $171.03M | $275.77M | $341.00M | $601.75M | $649.57M | $355.25M | $191.56M | $165.73M |
| Gross profit | $94.50M | $131.72M | $134.98M | $86.64M | $15.37M | $46.72M | $152.36M | $100.39M |
| Gross margin | 35.6% | 32.3% | 28.4% | 12.6% | 2.3% | 11.6% | 44.3% | 37.7% |
| R&D | — | — | — | $4.93M | $822000.00 | $2.98M | $2.98M | — |
| SG&A | $66.52M | $68.35M | $78.53M | $13.33M | $305.30M | $106.50M | $160.86M | $162.44M |
| Operating income | $22.66M | $52.13M | $42.62M | $50.83M | $-494.32M | $-85.99M | $-88.60M | $-62.04M |
| Operating margin | 8.5% | 12.8% | 9.0% | 7.4% | -74.3% | -21.4% | -25.8% | -23.3% |
| EBITDA | $25.46M | $62.23M | $52.92M | $64.72M | $-51.95M | $-4.48M | $14.00M | $20.82M |
| EBITDA margin | 9.6% | 15.3% | 11.1% | 9.4% | -7.8% | -1.1% | 4.1% | 7.8% |
| EBIT | $20.15M | $50.98M | $42.62M | $50.83M | $-121.60M | $-82.88M | $-66.11M | $-62.04M |
| Interest expense | $18.98M | $26.03M | $24.35M | $16.87M | $16.87M | $48.74M | $31.56M | $27.56M |
| Income tax | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-20.95M | $8.79M | $63.76M | $33.00M | $-367.45M | $-227.22M | $-74.67M | $-65.34M |
| Net income growth (YoY) | — | +142.0% | +625.0% | -48.3% | -1213.6% | +38.2% | +67.1% | +12.5% |
| Profit margin | -7.9% | 2.2% | 13.4% | 4.8% | -55.3% | -56.5% | -21.7% | -24.6% |