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SST · NYSE · Software - Application

System1

Connects advertising partners with high-intent customers while operating consumer utilities.

$1.84

After-hours close−0.03 (−1.58%)

At close$1.87(+0.54%)

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Profile

System1, Inc.SSTInformation Technology

Runs an AI- and machine-learning-powered customer-acquisition platform alongside consumer internet utilities. Its flagship brands include CouponFollow, MapQuest, and Startpage.com across shopping, travel, and search.

An AI- and machine-learning-powered, omnichannel platform connects advertising partners with high-intent customers across multiple consumer verticals and channels through its advertising operations.

Consumer internet utilities include CouponFollow, MapQuest, and Startpage.com, spanning shopping, travel, and search. This consumer-brand layer has been expanded through acquisitions over time rather than representing a single advertising product.

NYSE trading began on January 28, 2022, after the Trebia SPAC combination, which combined System1 with Protected.net Group and renamed Trebia.

An announced exchange with lenders remains conditional on shareholder approval for convertible preferred stock; no post-closing confirmation was found.

Company facts

CEOMichael Blend

ListedJan 28, 2022

ExchangeNYSE

HeadquartersLos Angeles, CA

CountryUnited States

Employees250

CIK0001805833

ISINUS87200P2083

Key statistics

Market cap$18.9M

EPS (ttm)−$11.33

P/E (ttm)−0.1668

ROE-1,180.8%

P/B−0.5785

P/S0.1045

Dividend yield—

Beta−0.30vs XLK 1.07

Year to date −56.3% · Average volume (30d) 212.7K

Analysts

Price target, next 12 months$14.50+667.2%Median of 4 analysts · vs the Aug 28 close

ConsensusBuy2 of 4 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $1.89

High$15.00+693.7%

Median$14.50+667.2%

Low$14.00+640.7%

12 months agoNowIn 12 months

Latest analyst notes

No analyst notes in the last 24 months.

Earnings

EPS

Estimate−$1.30

ReportedDue Nov 12, 2026

Revenue

Estimate$30.3M

ReportedDue Nov 12, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	−$1.96	−$1.54	+21.4%	$58.6M	$30.2M	−48.5%	−1.19%
May 12, 2026Q1 FY26	−$2.14	−$2.22	−3.7%	$55.2M	$37.2M	−32.5%	−20.67%
Mar 11, 2026Q4 FY25	−$2.14	−$2.29	−7.0%	$55.2M	$51.9M	−5.9%	−17.00%
Nov 5, 2025Q3 FY25	−$2.02	−$2.30	−13.9%	$53.0M	$61.6M	+16.1%	−18.84%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$74.5M	$78.1M	$61.6M	$51.9M	$37.2M	$30.2M
Gross profit	$3.4M	$1.6M	−$6.1M	−$6.3M	−$4.6M	$24.3M
Operating income	−$13.1M	−$15.9M	−$15.6M	−$17.4M	−$14.2M	−$8.3M
Net income	−$15.9M	−$17.5M	−$18.5M	−$13.5M	−$47.1M	−$12.6M
Diluted EPS	−$0.21	−$2.23	−$2.30	−$1.67	−$5.82	−$1.54
Gross margin	4.6%	2.1%	-9.8%	-12.1%	-12.5%	80.4%
Operating margin	-17.6%	-20.4%	-25.3%	-33.6%	-38.2%	-27.5%

Fiscal years (4-quarter sums)FY21 $688.4M · FY22 $376.7M · FY23 $402.0M · FY24 $343.9M · FY25 $266.1M

Revenue by product · Q2 FY26

Products Segment$19.5M · 64%

Marketing Segment$10.7M · 36%

Revenue by geography · Q2 FY26

United States$29.6M · 98%

Non-US$610.0K · 2%

Balance sheet, Jun 30, 2026Cash & short-term investments $40.5M · Total debt $300.6M · Total assets $291.4M · Shareholders' equity −$26.7M

Dividends

No dividends on record.

Ownership

Institutions 8.26%826.9K sharesInsiders 10.16%1.02M sharesOther 81.58%8.16M shares

Shares outstanding 10.01M · Float 2.04M · 20.4% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
CEE Holdings Trust · 10 percent owner	919.6K	9.19%	Form 4	Aug 26, 2025
Charles Ursini · director, officer: President & COO	367.5K	3.67%	Form 4	Jul 31, 2025
Cannae Holdings, Inc.	356.8K	3.57%	13F	Apr 15, 2026
Tridivesh Kidambi · officer: Chief Financial Officer	175.8K	1.76%	Form 4	Jul 17, 2026
Bank of America Corp /DE/	161.5K	1.61%	13F	May 18, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Apr 15, 2026	Tridivesh Kidambi	officer: Chief Financial Officer	+26,910	$3.00