{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-22-000061","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2022-11-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:52.220338+00:00","generated_at":"2026-06-21T23:31:13.931298+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"System1 Q3 revenue up 17% to $201M; net loss $38M; issues lower FY22 guidance","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-22-000061","json":"https://secwatch.observer/filing/0001805833-22-000061.json","markdown":"https://secwatch.observer/filing/0001805833-22-000061.md","text":"https://secwatch.observer/filing/0001805833-22-000061.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/0001805833-22-000061-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/sst-20221110.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T23:31:13.931298+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":[{"claim_id":"66ae7aeea4393bc1bffceee0828b4799b0feff08","claim":"System1, Inc. reported full year 2022 results: revenue $830 Million to $845 Million.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/0001805833-22-000061-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full year 2022"},{"label":"Revenue","value":"$830 Million to $845 Million"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"afa8dec6bdf0c4706a85399898e23bdc558f9ca0","claim":"System1, Inc. reported the quarter ended September 30, 2022 results: revenue $201 million, net income Net loss of $38 million.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/0001805833-22-000061-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended September 30, 2022"},{"label":"Revenue","value":"$201 million"},{"label":"Net income","value":"Net loss of $38 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}