---
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"
generated_at: "2026-05-17T18:05:37.488812+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# System1 Q2 2025: Revenue down 17% to $78.1M, adj. EBITDA up 18% to $11.7M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001805833-25-000006
- JSON: https://secwatch.observer/filing/0001805833-25-000006.json
- Plain text: https://secwatch.observer/filing/0001805833-25-000006.txt

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