For the quarter ending 2026-03-31, SST made $37,234K in revenue. -$47,067K in net income. Net profit margin of -126.41%.
| Income Statement | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Revenue | 37,234 | 51,940 | 61,561 | 78,115 |
| Cost of revenue | 13,860 | 30,626 | 38,819 | 50,212 |
| Salaries and benefits | 20,800 | 20,108 | 21,354 | 26,297 |
| Selling, general, and administrative | 16,789 | 18,650 | 16,953 | 17,511 |
| Impairment of long-lived assets | 36,822 | - | - | - |
| Total operating expenses | 88,271 | 69,384 | 77,126 | 94,020 |
| Operating loss | -51,037 | -17,444 | -15,565 | -15,905 |
| Interest expense, net | 6,629 | 6,303 | 7,052 | 7,116 |
| Gain on extinguishment of tax receivable agreement liability | - | 5,253* | - | - |
| Gain on extinguishment of debt | - | 0* | 0 | 0 |
| Change in fair value of warrant liabilities | 0 | -304 | -71 | 68 |
| Total other expense, net | -6,629 | -746 | -6,981 | -7,184 |
| Loss before income tax | -57,666 | -18,190 | -22,546 | -23,089 |
| Expected income tax benefit at statutory tax rate | - | -4,093* | - | - |
| State tax, net of federal tax benefit | - | 9* | - | - |
| Foreign tax effects | - | -314* | - | - |
| Effects of cross-border tax laws | - | 177* | - | - |
| Research and development credits | - | 253* | - | - |
| Other | - | -218* | - | - |
| Change in valuation allowance | - | 1,570* | - | - |
| Stock-based compensation | - | 271* | - | - |
| Non-controlling interest | - | -927* | - | - |
| Investment in partnership basis adjustments | - | 1,739* | - | - |
| Liability reversal | - | 276* | - | - |
| Other nondeductibles | - | 14* | - | - |
| Changes in unrecognized tax benefits | - | 207* | - | - |
| Other adjustments | - | -593* | - | - |
| Income tax benefit | -75 | -398 | -543 | -1,547 |
| Net loss | -57,591 | -17,792 | -22,003 | -21,542 |
| Less net loss attributable to non-controlling interest | -10,524 | -4,309 | -3,487 | -4,079 |
| Net loss attributable to system1, inc | -47,067 | -13,483 | -18,516 | -17,463 |
| Basic EPS | -5.82 | -1.717 | -2.3 | -2.23 |
| Diluted EPS | -5.82 | -1.717 | -2.3 | -2.23 |
| Basic Average Shares | 8,090,000 | 7,854,000* | 8,054,000 | 7,820,000 |
| Diluted Average Shares | 8,090,000 | 7,854,000* | 8,054,000 | 7,820,000 |
System1, Inc. (SST)
System1, Inc. (SST)