System1 Q3 revenue up 17% to $201M; net loss $38M; issues lower FY22 guidance

System1, Inc.

2022-Q3 EPS reported -$1.02 revenue$587,081,000

Revenue $201M (+17% YoY); gross profit $50M (+21%); net loss $38M vs net income $11M prior year.
Adjusted gross profit $63M (+49% YoY); adjusted EBITDA $29M (+28% YoY).
Full-year 2022 guidance: revenue $830-845M, adj. gross profit $255-260M, adj. EBITDA $125-130M.
Added 300k+ new subscription subscribers; TotalAdBlock passes 400k paying subscribers.
MapQuest partnered with HERE Technologies to enhance geospatial products and features.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

System1, Inc. reported full year 2022 results: revenue $830 Million to $845 Million.

Period: full year 2022
Revenue: $830 Million to $845 Million
Result: guidance update

Exact text from the filing

Company Updates Full-Year 2022 Guidance: $830 Million to $845 Million of Revenue, $255 Million to $260 Million of Adjusted Gross Profit and $125 Million to $130 Million of Adjusted EBITDA

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

System1, Inc. reported the quarter ended September 30, 2022 results: revenue $201 million, net income Net loss of $38 million.

Period: the quarter ended September 30, 2022
Revenue: $201 million
Net income: Net loss of $38 million
Result: reported results

Exact text from the filing

Revenue Grew 17% Year-Over-Year to $201 Million • Gross Profit Grew 21% Year-Over-Year to $50 Million • Adjusted Gross Profit Grew 49% Year-Over-Year to $63 Million • Net Loss of $38 Million • Adjusted EBITDA increased 28% to $29 Million Compared to $23 Million in the Prior Year

View on SEC.gov

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System1, Inc. filing history →

Source: SEC EDGAR

accession 0001805833-22-000061

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