{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-25-000009","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2025-08-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.058397+00:00","generated_at":"2026-05-17T18:06:06.570285+00:00","sec_items":["7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"System1 Q2 2025 revenue $78.1M (-17% YoY); net loss narrows to $21.5M; adj. EBITDA $11.7M","bullets":["Q2 2025 GAAP revenue $78.1M vs $94.6M in Q2 2024; operating loss improved to $(15.9M) from $(29.1M).","Net loss from continuing ops $(21.5M) vs $(34.8M) a year ago; adjusted EBITDA $11.7M vs $9.9M.","Marketing Platform revenue $134.6M, TAC $114.9M, return on TAC 117% (flat YoY).","Products revenue $23.9M, sessions 522M, RPS $0.05 vs $0.04 prior year.","Supplemental financial data and investor deck posted on company website; no guidance provided."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-25-000009","json":"https://secwatch.observer/filing/0001805833-25-000009.json","markdown":"https://secwatch.observer/filing/0001805833-25-000009.md","text":"https://secwatch.observer/filing/0001805833-25-000009.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583325000009/0001805833-25-000009-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583325000009/sst-20250807.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T18:06:06.570285+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"}