{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-23-000182","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2023-12-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.553951+00:00","generated_at":"2026-06-07T18:50:31.631965+00:00","sec_items":["7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"System1 reports Q3 2023 revenue of $87.8M, operating loss of $20.8M; Adjusted EBITDA $8.1M","bullets":["Revenue $87.8M vs $156.9M in Q3 2022; O&O ad revenue $66.2M vs $143.6M, down 54%.","Operating loss of $20.8M; net loss from continuing ops $26.1M; net loss $131.4M incl. discontinued ops.","Adjusted EBITDA $8.1M vs $15.8M in Q3 2022; YTD Adjusted EBITDA $19.4M.","O&O spread improved to 56% from 35% YoY; O&O sessions 922M; CPS $0.05, RPS $0.07.","Partner Network revenue $21.6M; network sessions 859M; network RPS $0.03."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-23-000182","json":"https://secwatch.observer/filing/0001805833-23-000182.json","markdown":"https://secwatch.observer/filing/0001805833-23-000182.md","text":"https://secwatch.observer/filing/0001805833-23-000182.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583323000182/0001805833-23-000182-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583323000182/sst-20231204.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T18:50:31.631965+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"}