secwatch.observer — SEC 8-K summary
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Issuer:     System1, Inc. (SST)
CIK:        0001805833
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001805833-22-000061
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/0001805833-22-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805833/000180583322000061/sst-20221110.htm
  HTML page:      https://secwatch.observer/filing/0001805833-22-000061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer