---
schema_version: "secwatch.filing_event.v1"
accession: "0001805833-24-000075"
form_type: "8-K"
ticker: "SST"
cik: "0001805833"
company_name: "System1, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:43:57.269087+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# System1 beats Q1 guidance with $84.9M revenue, net loss $14M; Q2 outlook $88-90M

## Summary
- Revenue $84.9M (above high-end guidance), down $11.2M sequentially; gross profit $18.6M (-25% QoQ).
- GAAP net loss $14M, improved 46% sequentially; adjusted EBITDA $0.4M, down $9.6M sequentially.
- Completed $63.7M debt repurchase at $40.9M in Jan 2024; total debt repaid $155M since Nov 2023.
- Q2 2024 guidance: revenue $88-90M, adjusted EBITDA $5-7M; expects interest expense $7.0-7.5M.
- RAMP platform now automates >90% of owned & operated customer acquisition ad decisions.

## SEC filing metadata
- accession: 0001805833-24-000075
- form_type: 8-K
- ticker: SST
- cik: 0001805833
- company_name: System1, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1805833/000180583324000075/0001805833-24-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1805833/000180583324000075/sst-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001805833-24-000075
- JSON: https://secwatch.observer/filing/0001805833-24-000075.json
- Plain text: https://secwatch.observer/filing/0001805833-24-000075.txt

## Key facts
- Earnings Releases
  System1, Inc. reported for its quarter ended March 31, 2024 results: revenue $84.9 Million, net income $14 Million.
  - Period: for its quarter ended March 31, 2024
  - Revenue: $84.9 Million
  - Net income: $14 Million
  - Result: reported results
  source text: System1 Announces First Quarter 2024 Financial Results All Key Financial Results Above the High-End of Guidance Range • Revenue Decreased $11.2 Million Over Prior Quarter to $84.9 Million • Gross Profit Decreased 25% Over Prior Quarter to $18.6 Million • Adjusted Gross Profit Decreased 17% Over Prior Quarter to $31.2 Million • GAAP Net Loss Decreased 46% Over Prior Quarter to $14 Million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805833/000180583324000075/0001805833-24-000075-index.htm

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