System1 Q4 revenue falls 31% on macro and sector headwinds

Reuters03-12

<a href="https://laohu8.com/S/SST">System1</a> Q4 revenue falls 31% on macro and sector headwinds

Overview

Omnichannel marketing platform's Q4 revenue fell 31% yr/yr amid macro and market headwinds
Q4 adjusted EBITDA dropped 54% yr/yr to $8.2 mln
Adjusted gross profit margin rose to 67% from 59% yr/yr

Outlook

Company says continued investment in products and AI aims to position business for long-term growth
System1 says it is evaluating opportunities to strengthen balance sheet and optimize capital structure

Result Drivers

MACRO & MARKET HEADWINDS - Co said Q4 results were affected by macroeconomic and market-specific headwinds
USER GROWTH - Startpage.com daily active users rose 42% yr/yr and Mapquest.com sessions up 24% yr/yr in December 2025

Company press release: ID:nBwbwYStQa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Miss	$51.9 mln	$53.04 mln (1 Analyst)
Q4 Net Income		-$17.8 mln
Q4 Adjusted EBITDA		$8.2 mln
Q4 Adjusted Gross Profit		$34.9 mln
Q4 Gross Profit		$21.3 mln

Analyst Coverage

The one available analyst rating on the shares is "buy"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for System1 Inc is $8.00, about 185.7% above its March 10 closing price of $2.80

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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MARKET HEADWINDS - Co said Q4 results were affected by macroeconomic and market-specific headwinds</p></li><li><p>USER GROWTH - Startpage.com daily active users rose 42% yr/yr and Mapquest.com sessions up 24% yr/yr in December 2025</p></li></ul><p>Company press release: <span>ID:nBwbwYStQa</span></p><p><span>Key Details</span></p><table><tbody><tr><td><p><span>Metric</span></p></td><td><p><span>Beat/Miss</span></p></td><td><p><span>Actual</span></p></td><td><p><span>Consensus Estimate</span></p></td></tr><tr><td><p>Q4 Revenue</p></td><td><p>Miss</p></td><td><p>$51.9 mln</p></td><td><p>$53.04 mln (1 Analyst)</p></td></tr><tr><td><p>Q4 Net Income</p></td><td></td><td><p>-$17.8 mln</p></td><td></td></tr><tr><td><p>Q4 Adjusted EBITDA</p></td><td></td><td><p>$8.2 mln</p></td><td></td></tr><tr><td><p>Q4 Adjusted Gross Profit</p></td><td></td><td><p>$34.9 mln</p></td><td></td></tr><tr><td><p>Q4 Gross Profit</p></td><td></td><td><p>$21.3 mln</p></td><td></td></tr></tbody></table><p><span>Analyst Coverage</span></p><ul><li><p>The one available analyst rating on the shares is \"buy\"</p></li><li><p>The average consensus recommendation for the it services &amp; consulting peer group is \"buy\"</p></li><li><p>Wall Street's median 12-month price target for System1 Inc is $8.00, about 185.7% above its March 10 closing price of $2.80</p></li></ul><p>For questions concerning the data in this report, contact Estimates.Support@lseg.com. 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