System1 Q4 2024 revenue down 21% YoY to $75.6M; adjusted EBITDA improves to $17.9M

System1, Inc.

Revenue $75.6M, down 21% YoY from $96.1M; net loss from continuing ops $18.0M vs $25.4M loss a year ago.
Adjusted EBITDA $17.9M vs $10.0M in Q4 2023, driven by sharp reduction in advertising spend to $32.7M (down 38%).
O&O revenue $64.7M (-19% YoY); O&O sessions rose 79% to 1.9B but RPS fell to $0.03 from $0.07.
Partner Network revenue $10.9M (-35% YoY); total company operating loss narrowed to $11.9M from $19.1M.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.