Earnings summaries and quarterly performance for System1.
Executive leadership at System1.
Michael Blend
Detailed
Chief Executive Officer
CEO
BC
Brian Coppola
Detailed
Chief Ad Operations Officer
CU
Charles Ursini
Detailed
President & Chief Operating Officer
DW
Daniel Weinrot
Detailed
General Counsel and Corporate Secretary
ES
Elizabeth Sestanovich
Detailed
Chief People Officer
TK
Tridivesh Kidambi
Detailed
Chief Financial Officer
Board of directors at System1.
Research analysts who have asked questions during System1 earnings calls.
Recent press releases and 8-K filings for SST.
System1 Reports Q3 2025 Results Amid Marketing Segment Volatility
SST
Earnings
Guidance Update
Demand Weakening
- System1 reported Q3 2025 revenue of $61.6 million, a 31% year-over-year decrease, with adjusted gross profit of $36.1 million and adjusted EBITDA of $9.9 million, both down 4% year-over-year.
- The product segment demonstrated strong growth, with revenue increasing 8% year-over-year to $22.5 million and adjusted gross profit up 6% year-over-year to $21.2 million.
- The marketing segment experienced a significant decline, with revenue down 43% year-over-year to $39.1 million and adjusted gross profit down 14% year-over-year to $16.6 million, primarily due to Google's deprecation of its AdSense for Domains (AFD) product. AFD contributed 27% of total marketing revenue in Q2 2025 and $12 million of gross profit for the six months ended June 30, 2025.
- The company is transitioning its marketing business to Google's new RSoC product and expects greater stability and a return to growth in the marketing segment heading into 2026, while also increasing investment in its product segment.
- System1 ended Q3 2025 with $54.6 million in unrestricted cash and $265 million in term-loan debt, with $50 million available under its revolver.
Nov 5, 2025, 10:00 PM
System1, Inc. Announces Third Quarter 2025 Financial Results
SST
Earnings
Guidance Update
Demand Weakening
- System1, Inc. reported Q3 2025 revenue of $61.6 million, a 31% decrease year-over-year, and a GAAP net loss of $22.0 million, an improvement of 28% year-over-year.
- Adjusted EBITDA decreased 4% year-over-year to $9.9 million, while Adjusted Gross Profit decreased 4% to $36.1 million, with the Adjusted Gross Profit Margin increasing to 59% from 42%.
- The company's business is shifting towards its higher-margin Products segment, which now accounts for a majority of gross profit, driven by AI integration leading to improved gross margin and reduced operating expenses.
- The marketing business faced challenges due to product changes at Google, its largest advertising partner, prompting a shift in marketing focus to a newer Google product.
- System1 will not provide financial guidance for Q4 2025 due to uncertainty related to a key advertising partner's marketplaces and broader volatility in online advertising demand.
Nov 5, 2025, 9:06 PM
System1 Announces Third Quarter 2025 Financial Results
SST
Earnings
Guidance Update
Demand Weakening
- System1 reported a 31% year-over-year decrease in revenue to $61.6 million for the third quarter of 2025, while GAAP net loss improved 28% year-over-year to $22.0 million.
- The company's Adjusted Gross Profit Margin increased to 59% from 42% year-over-year, attributed to a strategic shift towards higher-margin Products and the integration of AI.
- System1 will not provide financial guidance for the fourth quarter of 2025 due to uncertainty related to a key advertising partner's marketplaces and potential volatility in online advertising demand.
- The marketing business faced challenges from product changes at Google, prompting a shift in focus to a newer Google product.
Nov 5, 2025, 9:05 PM
Quarterly earnings call transcripts for System1.
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