System1 Q2 revenue $94.6M, net loss $34.8M; O&O sessions surge 145% YoY

System1, Inc.

2024-Q2 EPS reported -$0.54 revenue$179,498,000

Revenue $94.6M, down 2% YoY from $96.9M; net loss from cont. ops $34.8M vs $29.5M loss.
Adjusted EBITDA improved to $9.9M from $6.1M in Q2 2023.
O&O revenue $77.4M; sessions 2.0B (+145% YoY); cost-per-session fell to $0.02 from $0.06.
Partner Network revenue $17.2M, down from $19.6M; sessions 2.1B.
O&O direct adjusted gross profit $27.4M vs $27.6M a year earlier.

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