{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-26-000025","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2026-05-12T20:05:01+00:00","discovered_at":"2026-05-12T20:06:00.295312+00:00","generated_at":"2026-05-12T21:36:39.301935+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"System1 Q1 2026 revenue $37.2M; Adj. EBITDA $2.7M; MapQuest revenue up 23%","bullets":["Revenue $37.2M; GAAP net loss $57.6M; adjusted EBITDA $2.7M.","GAAP gross margin 63%; adjusted gross margin 76% ($28.2M adj. gross profit).","MapQuest organic traffic +14% YoY, site revenue +23% YoY driven by product releases.","Reduced marketing spend for search monetization to lower go-forward cost structure.","CouponFollow added AI-powered tools; Startpage added sports, flight status & booking."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-26-000025","json":"https://secwatch.observer/filing/0001805833-26-000025.json","markdown":"https://secwatch.observer/filing/0001805833-26-000025.md","text":"https://secwatch.observer/filing/0001805833-26-000025.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000025/0001805833-26-000025-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000025/sst-20260512.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-12T21:36:39.301935+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"}