---
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"
generated_at: "2026-05-12T21:36:39.301935+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# System1 Q1 2026 revenue $37.2M; Adj. EBITDA $2.7M; MapQuest revenue up 23%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001805833-26-000025
- JSON: https://secwatch.observer/filing/0001805833-26-000025.json
- Plain text: https://secwatch.observer/filing/0001805833-26-000025.txt

## Key facts
- Earnings Releases
  System1, Inc. reported first quarter ended March 31, 2026 results: revenue Revenue of $37.2 million, net income GAAP Net Loss of $57.6 million.
  - Period: first quarter ended March 31, 2026
  - Revenue: Revenue of $37.2 million
  - Net income: GAAP Net Loss of $57.6 million
  - Result: reported results
  source text: System1 Announces First Quarter 2026 Financial Results • Revenue of $37.2 million • GAAP Gross Profit of $23.3 million, Margin of 63% • Adjusted Gross Profit of $28.2 million, Margin of 76% • GAAP Net Loss of $57.6 million • Adjusted EBITDA of $2.7 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805833/000180583326000025/0001805833-26-000025-index.htm

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