{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-24-000081","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2024-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:20.219112+00:00","generated_at":"2026-06-02T06:44:44.768667+00:00","sec_items":["7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"System1 Q1 revenue $84.9M, down 30% YoY; adjusted EBITDA $0.4M","bullets":["Revenue of $84.9M vs $121.1M in Q1 2023, driven by O&O revenue decline to $69.0M.","Operating loss $25.8M; net loss from continuing ops $13.8M after $19.7M loss on debt extinguishment; adj. EBITDA $0.4M.","O&O spread improved to 48% from 39%; sessions 1.2B, CPS $0.04, RPS $0.06.","Partner Network revenue $15.9M vs $15.1M; network sessions 1.0B."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-24-000081","json":"https://secwatch.observer/filing/0001805833-24-000081.json","markdown":"https://secwatch.observer/filing/0001805833-24-000081.md","text":"https://secwatch.observer/filing/0001805833-24-000081.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583324000081/0001805833-24-000081-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583324000081/sst-20240509.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T06:44:44.768667+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"}