{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-25-000006","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2025-08-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.058206+00:00","generated_at":"2026-05-17T18:05:37.488812+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"System1 Q2 2025: Revenue down 17% to $78.1M, adj. EBITDA up 18% to $11.7M","bullets":["GAAP net loss improved 38% YoY to $21.5M; adjusted EBITDA rose 18% to $11.7M.","Products segment revenue grew 34% YoY to $24.0M; adjusted gross profit up 32%.","Startpage daily active users up >25% YoY; CouponFollow organic sessions up 44%.","No Q3 guidance provided due to uncertainty in a key ad partner marketplace and tariff volatility.","Adjusted gross profit increased 6% YoY to $41.0M; GAAP gross profit up 7% to $27.9M."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-25-000006","json":"https://secwatch.observer/filing/0001805833-25-000006.json","markdown":"https://secwatch.observer/filing/0001805833-25-000006.md","text":"https://secwatch.observer/filing/0001805833-25-000006.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583325000006/0001805833-25-000006-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583325000006/sst-20250807.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T18:05:37.488812+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"}