secwatch.observer — SEC 8-K summary
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Issuer:     System1, Inc. (SST)
CIK:        0001805833
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001628280-24-036198
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805833/000162828024036198/0001628280-24-036198-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805833/000162828024036198/sst-20240808.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-036198

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer