{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-022669","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2025-05-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.799255+00:00","generated_at":"2026-05-22T13:28:25.636561+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"System1 Q1 revenue down 12% to $74.5M, adjusted EBITDA surges 2754%, no Q2 guidance","bullets":["Revenue $74.5M (-12% YoY); GAAP net loss $19.9M (+44% YoY).","Adjusted EBITDA $12.1M (+2754% YoY); all key metrics at or above high-end of guidance.","GAAP gross profit $28.4M (+53% YoY); adjusted gross profit $41.5M (+33% YoY).","No Q2 guidance due to advertising partner marketplace uncertainty and tariff policy volatility.","CouponFollow organic sessions up 162% YoY; MapQuest naming generator had 280K users, 820K names."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-022669","json":"https://secwatch.observer/filing/0001628280-25-022669.json","markdown":"https://secwatch.observer/filing/0001628280-25-022669.md","text":"https://secwatch.observer/filing/0001628280-25-022669.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000162828025022669/0001628280-25-022669-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000162828025022669/sst-20250506.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T13:28:25.636561+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"}