---
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"
generated_at: "2026-06-21T23:31:13.931298+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001805833-22-000061
- JSON: https://secwatch.observer/filing/0001805833-22-000061.json
- Plain text: https://secwatch.observer/filing/0001805833-22-000061.txt

## Key facts
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/0001805833-22-000061-index.htm
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/0001805833-22-000061-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.