System1 Q2 2026 revenue $30.2M, net loss $15.3M; launches agentic AI products, cuts debt by half

System1, Inc.

Revenue $30.2M; GAAP net loss $15.3M; adjusted EBITDA $1.9M.
Adjusted gross margin 85% (up from prior) driven by shift to higher-quality Products business.
Signed transformative debt exchange cutting gross debt by half; closed during Q2.
Launched agentic AI products: MapQuest MCP Server, Dogpile Fetch, IntentStream audience platform.
CouponFollow became second-largest organic coupon site; Startpage user sessions up 31% YoY.

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