← System1, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $0 | $688.4m |
$773.9m
+12.43%
|
$402.0m
-48.06%
|
$343.9m
-14.44%
|
$266.1m
-22.62%
|
$180.9m
-32.01%
|
|
| Other Cost of Operating Revenue | — | $11.5m | $23.9m | $7.9m | $7.7m | $58.8m | — | |
| Cost of Revenue | — | $521.1m |
$438.8m
-15.79%
|
$248.7m
-43.32%
|
$183.9m
-26.09%
|
$165.7m
-9.86%
|
$89.2m
-46.16%
|
|
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | — | $521.1m |
$538.8m
+3.39%
|
$248.7m
-53.83%
|
$191.6m
-22.99%
|
— | $89.2m | |
| Reconciled Cost Of Revenue | — | $521.1m | — | $221.9m |
$242.6m
+9.31%
|
$165.7m
-31.68%
|
$89.2m
-46.16%
|
|
| Gross Profit | — | $167.3m |
$335.1m
+100.33%
|
$153.2m
-54.27%
|
$101.3m
-33.87%
|
$100.4m
-0.92%
|
$91.7m
-8.66%
|
|
| Net Interest Income | — | ($16.9m) | — | ($48.7m) |
($31.6m)
+35.25%
|
($27.6m)
+12.69%
|
($27.1m)
+1.65%
|
|
| Selling, general, and administrative | — | $35.8m | $63.5m | $54.3m | $47.3m | $69.7m | $146.3m | |
| Amortization of Intangible Assets | — | $8.6m | $117.4m | $74.7m | $74.7m | $74.5m | — | |
| Operating Lease, Expense | — | $2.2m | — | — | — | — | — | |
| Operating Costs and Expenses | — | $637.6m | $1.3b | $488.0m | $432.5m | $328.2m | — | |
| Total operating expenses | — | $637.6m | $1.3b | $488.0m | $432.5m | $328.2m | $235.5m | |
| Other Non Operating Income Expenses | — | $10.7m | — | — | — | $5.3m | — | |
| Operating Income (Loss) | ($806k) |
$50.8m
+6406.36%
|
($508.3m)
-1099.89%
|
($86.0m)
+83.08%
|
($88.6m)
-3.04%
|
($62.0m)
+29.98%
|
($54.6m)
+11.99%
|
|
| Interest expense, net | — | — | $31.6m | $48.7m | $31.6m | $27.6m | $27.1m | |
| Net Non Operating Interest Income Expense | — | ($16.9m) | — | ($48.7m) | ($31.6m) | ($27.6m) | ($27.1m) | |
| Gain On Sale Of Security | — | $23.7m | — | $5.1m | $2.4m | $275k | $275k | |
| Other Nonoperating Income (Expense) | — | ($16.9m) | ($35.8m) | ($45.6m) | ($9.1m) | ($22.0m) | — | |
| Interest Expense (non-operating) | — | $16.9m | $32.0m | $48.7m | $31.6m | $27.6m | $27.1m | |
| Other Income Expense | — | $34.4m | — | $3.1m | $22.5m | $5.5m | ($32.1m) | |
| Total other expense, net | ($29.1m) | $34.4m | $35.8m | $45.6m | $9.1m | $22.0m | — | |
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | — | $30.5m | ($480.7m) | ($126.8m) | ($92.2m) | ($78.2m) | ($113.8m) | |
| Pre-Tax Income | — | $34.0m | ($544.1m) | ($131.6m) | ($97.7m) | ($84.1m) | ($113.8m) | |
| Loss before income tax | — | $34.0m | ($544.1m) | ($131.6m) | ($97.7m) | ($84.1m) | — | |
| Income tax benefit | — | $965k | ($102.0m) | ($20.4m) | ($370k) | ($2.9m) | — | |
| Current Income Tax Expense (Benefit) | — | $1.9m | $5.8m | $705k | $1.7m | ($685k) | ($1.1m) | |
| Net loss | — | — | ($442.1m) | ($285.6m) | ($97.3m) | ($81.2m) | — | |
| Less: Net loss attributable to non-controlling interest | — | — | ($105.7m) | — | ($22.6m) | ($15.8m) | — | |
| Net loss attributable to System1, Inc. | ($806k) | $21.0m | ($336.4m) | ($227.2m) | ($74.7m) | ($65.3m) | — | |
| Net Income From Continuing And Discontinued Operation | ($29.9m) | $33.0m | ($336.4m) | ($227.2m) | ($74.7m) | ($65.3m) | ($91.7m) | |
| Net Income Continuous Operations | — | $33.0m | — | ($111.3m) | ($97.3m) | ($81.2m) | ($112.7m) | |
| Net Income Discontinuous Operations | — | — | — | ($174.3m) | $0 | — | $0 | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | $0 | ($105.7m) | — | — | ($15.8m) | ($91.7m) | |
| Income (Loss) from Continuing Operations, Per Basic Share | — | — | — | ($1) | ($1) | — | — | |
| Income (Loss) from Continuing Operations, Per Diluted Share | — | — | — | ($1) | ($1) | — | — | |
| Earnings Per Share, Basic | ($1.38) | $0.66 | ($3.77) | ($2.48) | ($1.07) | ($8.32) | ($11.29) | |
| Earnings Per Share, Diluted | ($0.06) | $0.66 | ($3.77) | ($2.48) | ($1.07) | ($8.32) | ($11.29) | |
| Weighted Average Number of Shares Outstanding, Basic | 43.4m | 64.7m | 89.3m | 91.5m | 69.6m | 7.9m | 8.1m | |
| Weighted average number of shares outstanding - basic (in shares) | 43.4m | 64.7m | 89.3m | 91.5m | 69.6m | 7.9m | 8.1m | |
| Weighted average number of shares outstanding - diluted (in shares) | 43.4m | 64.7m | 89.3m | 91.5m | 69.6m | 7.9m | 8.1m | |
| Basic Average Shares | — | — | $9.2m | $9.1m | $7.4m | $8.1m | $8.1m | |
| Diluted Average Shares | — | — | $9.2m | $9.1m | $7.4m | $8.1m | $8.1m | |
| Weighted Average Number of Shares Outstanding, Diluted | 43.4m | 64.7m | 89.3m | 91.5m | 69.6m | 7.9m | 8.1m | |
| Additional Financial Items | ||||||||
| Capitalized Computer Software, Amortization | — | $4.9m | $467k | $3.0m | $4.6m | $7.7m | — | |
| Depreciation, Depletion and Amortization, Nonproduction | — | $13.9m | $118.7m | $78.4m | $80.1m | — | $80.1m | |
| Goodwill, Impairment Loss | — | $0 | $366.3m | $0 | $0 | $0 | — | |
| Salaries and benefits | — | $66.7m | $195.0m | $106.5m | $113.5m | $92.7m | — | |
| Gain on extinguishment of tax receivable agreement liability | — | — | — | — | $0 | ($5.3m) | — | |
| Gain on extinguishment of debt | — | — | — | $2.0m | ($20.1m) | $0 | — | |
| Change in fair value of warrant liabilities | ($17.3m) | $23.7m | $3.8m | ($5.1m) | ($2.4m) | ($275k) | — | |
| Depreciation Amortization Depletion Income Statement | — | $13.9m | — | $78.4m | $80.1m | — | $80.1m | |
| Depreciation And Amortization In Income Statement | — | $13.9m | — | $78.4m | $80.1m | — | $80.1m | |
| Diluted EPS | — | $4.04 | — | ($24.80) | ($10.14) | ($8.08) | ($11.29) | |
| Diluted NI Availto Com Stockholders | ($29.9m) | $33.0m | ($336.4m) | ($227.2m) | ($74.7m) | ($65.3m) | ($91.7m) | |
| Impairment Of Capital Assets | — | $0 | — | $0 | — | — | — | |
| Minority Interests | — | $0 | — | $58.4m | $22.6m | $15.8m | $21.1m | |
| Normalized EBITDA | — | $64.7m | — | $19.2m | ($8.5m) | $26.1m | ($25.9m) | |
| Normalized Income | — | $33.0m | — | ($55.5m) | ($97.1m) | ($65.6m) | ($54.7m) | |
| Other Gand A | — | $35.8m | — | $54.3m | $76.4m | $69.7m | — | |
| Other Special Charges | — | — | — | $2.0m | ($20.1m) | — | — | |
| Reconciled Depreciation | — | $13.9m | — | $105.2m | $80.1m | $82.9m | $80.1m | |
| Salaries And Wages | — | $66.7m | $195.0m | $106.5m | $113.5m | $92.7m | $79.4m | |
| Selling General And Administration | — | $102.6m | — | $160.8m | $189.9m | $162.4m | — | |
| Special Income Charges | — | $0 | — | ($2.0m) | $20.1m | $0 | ($37.7m) | |
| Tax Effect Of Unusual Items | — | $0 | — | $481k | $90k | $9k | ($358k) | |
| Tax Provision | — | $965k | ($102.0m) | ($20.4m) | ($370k) | ($2.9m) | ($1.1m) | |
| Tax Rate For Calcs | — | $0 | — | $0 | $0 | $0 | $0 | |
| Costs and Expenses | $806k | — | — | — | — | — | — | |
| Operating Expense | — | $116.4m | — | $239.2m | $189.9m | $162.4m | $146.3m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | ($85.7m) | ($74.7m) | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | ($111.3m) | ($97.3m) | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | ($174.3m) | $0 | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | ($141.5m) | $0 | — | — | |
| Total Unusual Items | — | $0 | — | $3.1m | $22.5m | $275k | ($37.4m) | |
| Total Expenses | — | $637.6m | $1.3b | $488.0m | $432.5m | $328.2m | $235.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.