{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-011713","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2025-03-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.954199+00:00","generated_at":"2026-05-25T01:55:24.437572+00:00","sec_items":["7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"System1 Q4 2024 revenue down 21% YoY to $75.6M; adjusted EBITDA improves to $17.9M","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-011713","json":"https://secwatch.observer/filing/0001628280-25-011713.json","markdown":"https://secwatch.observer/filing/0001628280-25-011713.md","text":"https://secwatch.observer/filing/0001628280-25-011713.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000162828025011713/0001628280-25-011713-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000162828025011713/sst-20250310.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-25T01:55:24.437572+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}