By Christopher Kuo
System1 shares tumbled after the company's revenue halved and its losses widened in its first quarter.
Shares of the internet utilities and marketing company plunged 32% to $3.04 after hours Tuesday. The stock closed at $4.45, up nearly 4% during the regular session.
The company, which operates MapQuest.com, on Tuesday posted a loss of $47.1 million compared with a loss of $15.9 million a year earlier.
Revenue fell to $37.2 million from $74.5 million a year earlier.
"This quarter marked an important reset for System1 as we narrowed our focus to where we see the greatest opportunities to win: the intersection of AI and consumer intent," said Chief Executive Michael Blend.
The company significantly reduced its marketing activity for search monetization during the quarter. It also incorporated artificial intelligence tools into its content management system.
Write to Christopher Kuo at chris.kuo@wsj.com
(END) Dow Jones Newswires
May 12, 2026 18:06 ET (22:06 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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