For the quarter ending 2025-09-30, SST had -$9,059K decrease in cash & cash equivalents over the period. -$2,052K in free cash flow.
| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net loss | -22,003 | -41,398 |
| Depreciation and amortization | 20,789 | 41,043 |
| Stock-based compensation | 2,832 | 7,193 |
| Amortization of debt issuance costs | 898 | 1,816 |
| Noncash lease expense | 458 | 971 |
| Change in fair value of warrant liabilities | -71 | 100 |
| Deferred tax benefits | -493 | -984 |
| Gain on extinguishment of debt | 0 | 0 |
| Share-based compensation liabilities | 877 | 1,646 |
| Other, net | 10 | 22 |
| Accounts receivable | -15,862 | 7,302 |
| Prepaid expenses and other current assets | 143 | 2,234 |
| Accounts payable | -4,992 | 18,048 |
| Accrued expenses and other current liabilities | -16,048 | -9,860 |
| Other non-current liabilities | -28 | -518 |
| Net cash provided by (used in) operating activities | -2,052 | 8,543 |
| Purchases of property and equipment | 0 | 46 |
| Purchases of intangible asset | 0 | 275 |
| Capitalized software development costs | 1,989 | 2,786 |
| Net cash used in investing activities | -1,989 | -3,107 |
| Repayment of term loan | 5,000 | 10,000 |
| Taxes paid related to net settlement of stock awards | 13 | 311 |
| Distributions to members, net of contributions | 0 | 33 |
| Proceeds from private placement of class a common stock | 0 | 2,250 |
| Net cash used in financing activities | -5,013 | -8,094 |
| Effect of exchange rate changes in cash, cash equivalents and restricted cash | -5 | -21 |
| Net decrease in cash, cash equivalents and restricted cash | -9,059 | -2,679 |
| Cash and cash equivalents at beginning of period | 67,948 | - |
| Cash and cash equivalents at end of period | 56,210 | - |
System1, Inc. (SST)
System1, Inc. (SST)