| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2022 |
|---|---|---|---|---|---|
| Revenue | $266.1M-22.6% | $343.9M-14.4% | $402.0M-34.3% | $612.2M+1061.5% | $52.7M |
| Cost of revenue | $165.7M-31.7% | $242.6M | — | — | — |
| Salaries and benefits | $92.7M-18.3% | $113.5M+6.6% | $106.5M-22.8% | $138.0M+342.7% | $31.2M |
| Selling, general, and administrative | $69.7M-8.8% | $76.4M+40.7% | $54.3M+6.8% | $50.8M+224.5% | $15.7M |
| Total operating expenses | $328.2M-24.1% | $432.5M-11.4% | $488.0M-54.4% | $1.07B+1097.4% | $89.4M |
| Operating loss | -$62.0M+30.0% | -$88.6M-3.0% | -$86.0M+81.2% | -$457.7M-1149.1% | -$36.6M |
| Interest expense, net | $27.6M-12.7% | $31.6M-35.3% | $48.7M+54.2% | $31.6M+2913.3% | $1.0M |
| Gain on extinguishment of tax receivable agreement liability | -$5.3M | $0 | — | — | — |
| Gain on extinguishment of debt | $0+100.0% | -$20.1M | $0 | — | — |
| Change in fair value of warrant liabilities | -$275K+88.5% | -$2.4M+53.3% | -$5.1M | — | — |
| Total other expense, net | $22.0M+142.9% | $9.1M-80.1% | $45.6M+29.1% | $35.4M+3270.8% | $1.0M |
| Loss before income tax | -$84.1M+13.9% | -$97.7M+25.8% | -$131.6M+73.3% | -$493.0M-1208.2% | -$37.7M |
| Income tax benefit | -$2.9M-677.0% | -$370K+98.2% | -$20.4M+81.3% | -$108.7M-17178.2% | -$629K |
| Net loss | -$81.2M+16.6% | -$97.3M+65.9% | -$285.6M+35.3% | -$441.3M-1090.8% | -$37.1M |
| Less: Net loss attributable to non-controlling interest | -$15.8M+30.0% | -$22.6M | — | — | — |
| Net loss attributable to System1, Inc. | -$65.3M+12.5% | -$74.7M+67.1% | -$227.2M+31.2% | -$330.4M-791.5% | -$37.1M |
| Basic net loss per share (in dollars per share) | -$8320.00-677.6% | -$1070.00+56.9% | -$2480.00+0.0% | -$2480.00+33.0% | -$3700.00 |
| Diluted net loss per share (in dollars per share) | -$8320.00-677.6% | -$1070.00+56.9% | -$2480.00+0.0% | -$2480.00+33.0% | -$3700.00 |
| Weighted average number of shares outstanding - basic (in shares) | 7.9M-88.7% | 69.6M-23.9% | 91.5M+0.0% | 91.5M+2.4% | 89.3M |
| Weighted average number of shares outstanding - diluted (in shares) | 7.9M-88.7% | 69.6M-23.9% | 91.5M+0.0% | 91.5M+2.4% | 89.3M |
Source: SEC EDGAR XBRL. % change vs prior period shown where available.
Source: SEC EDGAR 10-K and 10-Q filings. Up to 10 years annual / 16 quarters shown.