---
schema_version: "secwatch.filing_event.v1"
accession: "0001805833-24-000048"
form_type: "8-K"
ticker: "SST"
cik: "0001805833"
company_name: "System1, Inc."
filed_at: "2024-03-18T23:59:59+00:00"
generated_at: "2026-06-04T15:34:14.980337+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# System1 Q4 2023 revenue $96.1M, -31% YoY; adjusted EBITDA $10.0M

## Summary
- Revenue $96.1M vs $140.1M in Q4 2022; net loss from continuing ops $25.4M vs $29.8M loss.
- Adjusted EBITDA $10.0M vs $14.4M a year ago; O&O revenue $79.4M (-38% YoY).
- Full-year 2023 revenue $402.0M (-40% YoY); net loss from continuing ops $111.3M (2022: $421.4M incl. $372.7M impairment).
- Discontinued ops loss $11.1M in Q4; pro forma adjusted for planned disposition of Total Security Limited.

## SEC filing metadata
- accession: 0001805833-24-000048
- form_type: 8-K
- ticker: SST
- cik: 0001805833
- company_name: System1, Inc.
- filed_at: 2024-03-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1805833/000180583324000048/0001805833-24-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1805833/000180583324000048/sst-20240318.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001805833-24-000048
- JSON: https://secwatch.observer/filing/0001805833-24-000048.json
- Plain text: https://secwatch.observer/filing/0001805833-24-000048.txt

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