Financial Snapshot

Revenue
$364.5M
TTM
Gross Margin
39.82%
TTM
Net Earnings
-$87.12M
TTM
Current Assets
Q3 2024
Current Liabilities
Q3 2024
Current Ratio
136.35%
Q3 2024
Total Assets
Q3 2024
Total Liabilities
Q3 2024
Book Value
$102.8M
Q3 2024
Cash
Q3 2024
P/E
-1.023
Nov 29, 2024 EST
Free Cash Flow
-$29.30M
TTM

Revenues

Revenues

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Revenue YoY Change

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Revenues

Concept 2023 2022 2021 2020 2019 2018
Revenue $402.0M $826.7M $688.4M $476.0M $407.5M $265.5M
YoY Change -51.37% 20.09% 44.63% 16.81% 53.46%

Expenses

Cost Of Revenues

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Gross Profit

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Gross Profit Margin

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Gross Profit

Concept 2023 2022 2021 2020 2019 2018
Revenue $402.0M $826.7M $688.4M $476.0M $407.5M $265.5M
Cost Of Revenue $248.7M $580.3M $521.1M $341.0M $275.8M $171.0M
Gross Profit $153.2M $246.4M $167.3M $135.0M $131.7M $94.50M
Gross Profit Margin 38.12% 29.8% 24.3% 28.36% 32.33% 35.59%

Selling, General & Admin Expense

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Research & Development

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Depreciation, Depletion & Amortization

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SGA Expense to Gross Profit Ratio

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R&D To Gross Profit Ratio

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DDA To Gross Profit Ratio

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Operating Expenses Total

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Operating Profits/Loss

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Operational Expenses

Concept 2023 2022 2021 2020 2019 2018
Selling, General & Admin $160.8M $305.3M $102.6M $78.53M $68.35M $66.52M
YoY Change -47.33% 197.68% 30.6% 14.89% 2.74%
% of Gross Profit 104.95% 123.92% 61.31% 58.18% 51.89% 70.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $105.2M $119.7M $13.89M $13.83M $11.24M $5.313M
YoY Change -12.07% 761.74% 0.38% 23.02% 111.63%
% of Gross Profit 68.66% 48.57% 8.3% 10.25% 8.54% 5.62%
Operating Expenses $239.2M $425.0M $116.4M $92.36M $79.59M $71.84M
YoY Change -43.71% 264.94% 26.08% 16.04% 10.8%
Operating Profit -$85.99M -$178.6M -$13.33M $42.62M $52.13M $22.66M
YoY Change -51.85% 1240.0% -131.27% -18.24% 130.01%

Interest Expenses

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Interest Expenses To Operating Income %

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Other Expense/Income

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Interest & Other Expense/Income

Concept 2023 2022 2021 2020 2019 2018
Interest Expense -$48.75M -$33.10M -$16.87M -$24.35M -$26.03M -$18.98M
YoY Change 47.27% 96.2% -30.72% -6.46% 37.19%
% of Operating Profit -57.13% -49.94% -83.73%
Other Income/Expense, Net $5.109M -$3.751M $34.35M $0.00 -$1.146M $0.00
YoY Change -236.2% -110.92% -100.0%

Income/Loss

Pretax Income

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Income Tax

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Net Profits/Loss

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Pretax Income YoY Change

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Income Tax Rate

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Net Profits/Loss YoY Change

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Basic EPS

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Net Income To Revenue Ratio

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Pretax & Net Income

Concept 2023 2022 2021 2020 2019 2018
Pretax Income -$131.6M -$581.7M $33.96M $18.27M $24.95M $3.688M
YoY Change -77.37% -1812.98% 85.87% -26.77% 576.55%
Income Tax -$20.37M -$102.6M $965.0K $1.907M $702.0K $0.00
% Of Pretax Income 2.84% 10.44% 2.81% 0.0%
Net Earnings -$227.2M -$373.5M $21.03M $63.76M $8.795M -$1.979M
YoY Change -39.16% -1876.11% -67.02% 624.97% -544.42%
Net Earnings / Revenue -56.53% -45.18% 3.05% 13.4% 2.16% -0.75%
Basic Earnings Per Share -$2.48
Diluted Earnings Per Share -$2.48 -$4.00 $387.5K $780.5K $107.7K -$24.22K

Assets & Liabilities

Cash & Short-Term Investments

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Cash & Equivalents

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Cash To Operating Expenses Ratio

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Inventory

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Receivables

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Total Short-Term Assets

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Property, Plant And Equipment

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Long-Term Investments

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Total Long-Term Assets

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Total Assets

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Net Income To Total Assets Percentage

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Accounts Payable

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Short-Term Debt

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Long Term Debt Due

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Total Short-Term Liabilities

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Long-Term Debt

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Other Long-Term Liabilities

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Total Long-Term Liabilities

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Total Liabilities

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Short-Term To Long-Term Debt Ratio

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Short-Term Assets To Debt Ratio

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Long-Term Debt To Net Income Ratio

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Assets & Liabilities

Concept 2023 2022 2021 2020 2019 2018
Cash & Short-Term Investments $135.3M $24.61M $47.90M $29.01M $31.89M
YoY Change 450.04% -48.63% 65.08% -9.01%
Cash & Equivalents $135.3M $24.61M $47.90M $29.01M $31.89M
Short-Term Investments
Other Short-Term Assets $10.57M $20.98M $7.689M $3.016M $13.06M
YoY Change -49.62% 172.79% 154.94% -76.91%
Inventory
Prepaid Expenses
Receivables $56.09M $80.93M $90.20M $71.14M $75.40M
Other Receivables $0.00 $0.00 $0.00 $0.00 $0.00
Total Short-Term Assets $202.0M $126.5M $145.8M $103.2M $120.3M
YoY Change 59.68% -13.22% 41.31% -14.27%
Property, Plant & Equipment $7.816M $10.51M $830.0K $1.057M $1.351M
YoY Change -25.6% 1165.78% -21.48% -21.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.818M $8.217M $1.423M $0.00 $69.82M
YoY Change -41.37% 477.44% -100.0%
Total Long-Term Assets $403.5M $1.034B $111.1M $115.5M $192.8M
YoY Change -60.98% 830.45% -3.8% -40.08%
Total Assets $605.5M $1.160B $256.9M $218.7M $313.1M
YoY Change
Accounts Payable $9.499M $12.07M $72.85M $52.10M $47.81M
YoY Change -21.29% -83.43% 39.81% 8.99%
Accrued Expenses $54.87M $90.19M $16.69M $7.014M $5.810M
YoY Change -39.16% 440.25% 138.01% 20.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.27M $15.02M $170.5M $9.374M $24.24M
YoY Change 1.66% -91.19% 1718.36% -61.32%
Total Short-Term Liabilities $86.42M $210.3M $276.6M $80.52M $133.0M
YoY Change -58.9% -23.96% 243.47% -39.46%
Long-Term Debt $334.2M $399.5M $0.00 $170.6M $230.5M
YoY Change -16.34% -100.0% -25.99%
Other Long-Term Liabilities $7.199M $34.52M $8.758M $15.80M $15.70M
YoY Change -79.15% 294.2% -44.57% 0.66%
Total Long-Term Liabilities $341.4M $434.0M $8.758M $186.4M $246.2M
YoY Change -21.33% 4855.79% -95.3% -24.29%
Total Liabilities $470.2M $776.5M $285.3M $266.9M $381.6M
YoY Change -39.45% 172.15% 6.89% -30.06%

Ownership

Basic Shares Outstanding

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Diluted Shares Outstanding

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Preferred Stock

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Treasury Stock Shares

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Stock Issuance & Repurchase

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Ownership Data

Concept 2023 2022 2021 2020 2019 2018
Basic Shares Outstanding 91.45M shares
Diluted Shares Outstanding 91.45M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

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Book Value

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Free Cash Flow

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Free Cash Flow YoY

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Free Cash Flow Margin

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Dividends

Dividends

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Stock Price

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Market Cap: $89.135 Million

About System1, Inc.

System1, Inc. engages in the development of a proprietary end-to-end responsive acquisition marketing platform. The company is headquartered in Marina Del Rey, California and currently employs 300 full-time employees. The company went IPO on 2020-08-07. The firm provides its omnichannel customer acquisition platform services through its proprietary responsive acquisition marketing platform (RAMP). The Company’s Owned and Operated Advertising segment is engaged in directly acquiring traffic to its owned and operated websites and utilizing the RAMP platform and related services to connect advertising partners to its owned and operated websites. Its Partner Network segment is engaged in sharing arrangements with network partners for the use of the RAMP platform, and related services provided to them to direct advertising by the advertising partners to their advertising space. RAMP operates across its network of owned and operated websites and related products, allowing it to monetize user traffic that it sources from various acquisition marketing channels, including Google, Facebook, Taboola and Zemanta.

Industry: Services-Computer Programming, Data Processing, Etc. Peers: Alphabet Inc. Angi Inc. FaZe Holdings Inc. fuboTV Inc. /FL Cars.com Inc. Eventbrite, Inc. Nextdoor Holdings, Inc. MediaAlpha, Inc. QUINSTREET, INC Vimeo, Inc.