{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-24-000044","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2024-03-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.603965+00:00","generated_at":"2026-06-04T15:33:38.496384+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"System1 Q4 revenue $96.1M beats guidance; sells subscription unit for $240M cash","bullets":["Q4 revenue $96.1M (+9% QoQ); adjusted EBITDA $10M (+24% QoQ); both above high-end of guidance.","FY2023 revenue $402M, GAAP net loss $111.3M, adjusted EBITDA $29.2M.","Sold subscription business for $240M cash; retired 29.1M Class A shares. Repurchased $63.7M term debt at $40.9M.","Q1 2024 guidance: revenue $82-84M, adjusted EBITDA $(2)M to $(1)M (negative)."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-24-000044","json":"https://secwatch.observer/filing/0001805833-24-000044.json","markdown":"https://secwatch.observer/filing/0001805833-24-000044.md","text":"https://secwatch.observer/filing/0001805833-24-000044.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583324000044/0001805833-24-000044-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583324000044/sst-20240318.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T15:33:38.496384+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":"719e09faa419ee06b3a5fd2e3f57530789f0102d","claim":"System1, Inc. reported the quarter and year ended December 31, 2023 results: revenue $96.1 million, net income $25 million.","evidence_excerpt":"Full Year 2023 Financial Results All Key Financial Results Above the High-End of Guidance Range Fourth Quarter Financial Highlights: • Revenue Increased 9% Over Prior Quarter to $96.1 million • Gross Profit Increased 1% Over Prior Quarter to $25 million • Adjusted Gross Profit Increased 1% Over Prior Quarter to $37.5 million • GAAP Net Loss Decreased 2% Over Prior","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1805833/000180583324000044/0001805833-24-000044-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter and year ended December 31, 2023"},{"label":"Revenue","value":"$96.1 million"},{"label":"Net income","value":"$25 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"}