System1 (SST) Income Statement: Revenue & Earnings

System1 Income Statement Analysis

Revenue, earnings, and profit margins in millions USD

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System1, Inc. income statement - Annual data in millions USD
Breakdown	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Revenue & Gross Profit
Revenue	343.93	401.97	664.94	688.39	475.98
Cost of Revenue	191.56	248.75	649.57	587.86	396.54
Gross Profit	152.36	153.23	15.37	100.53	79.43
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	47.35	160.81	66.50	35.81	22.98
Operating Expenses	240.97	239.22	136.97	49.70	36.81
Operating Income	-88.60	-85.99	-121.60	50.83	42.62
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00
Interest Expense	31.56	48.75	-32.66	-16.87	-24.35
Other Income/Expense	-9.07	3.11	-3.75	34.35	0.00
Income
Income Before Tax	-97.67	-131.63	-530.73	33.96	18.27
Income Tax Expense	-0.37	-20.37	-109.31	0.97	1.91
Net Income	-74.67	-227.22	-367.45	33.00	63.76
Net Income - Continuous Operations	-74.67	-111.26	0.00	33.00	0.00
Net Income - Discontinued Operations	0.00	-174.33	0.00	0.00	0.00
EBITDA	14.00	22.32	-51.95	59.78	52.92
EBIT	-88.60	-82.88	-121.60	50.83	42.62
Depreciation & Amortization	80.11	78.40	69.65	8.95	10.30
Earnings Per Share
Basic EPS	-1.00	-25.00	-44.00	16.00	31.00
Diluted EPS	-1.00	-25.00	-44.00	16.00	31.00
Basic Shares Outstanding	69.55	9.15	8.44	2.05	2.05
Diluted Shares Outstanding	69.55	9.15	8.44	2.05	2.05