{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-25-000016","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2025-11-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.523211+00:00","generated_at":"2026-05-17T00:22:33.194555+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 Q3 revenue down 31% YoY to $61.6M; adjusted EBITDA slips to $9.9M","bullets":["Revenue $61.6M vs $88.8M YoY; net loss from continuing ops $22.0M vs $30.6M.","Adjusted EBITDA $9.9M vs $10.3M YoY; operating loss narrowed to $15.6M from $21.8M.","Marketing Platform Revenue $100.6M vs $130.2M YoY; Traffic Acquisition Cost $84.0M.","Products GAAP Revenue grew 8.4% to $22.5M; sessions up 23.5% to 584.7M."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-25-000016","json":"https://secwatch.observer/filing/0001805833-25-000016.json","markdown":"https://secwatch.observer/filing/0001805833-25-000016.md","text":"https://secwatch.observer/filing/0001805833-25-000016.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583325000016/0001805833-25-000016-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583325000016/sst-20251105.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T00:22:33.194555+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"}