System1, Inc.: Form 10-Q for the period ended Mar 31, 2025
Filed with the SEC on May 6, 2025 and accepted by EDGAR at May 6, 2025, 16:27 ET.
Sections
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Figures reported in this filing
Standardized line items from the XBRL in this filing, for the period ended 2025-03-31. Comparative periods it repeats are left out.
| Line item | Period | Value | XBRL concept |
|---|---|---|---|
| Revenue | 3 months2025-01-01 to 2025-03-31 | $74.5m | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Cost of revenue | 3 months2025-01-01 to 2025-03-31 | $46.1m | us-gaap:CostOfRevenue |
| Selling, general and administrative | 3 months2025-01-01 to 2025-03-31 | $16.6m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 3 months2025-01-01 to 2025-03-31 | −$13.1m | us-gaap:OperatingIncomeLoss |
| Interest expense | 3 months2025-01-01 to 2025-03-31 | $7.1m | us-gaap:InterestExpenseNonoperating |
| Income tax | 3 months2025-01-01 to 2025-03-31 | −$387.0k | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months2025-01-01 to 2025-03-31 | −$15.9m | us-gaap:NetIncomeLoss |
| Diluted EPS | 3 months2025-01-01 to 2025-03-31 | −$0.21 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 3 months2025-01-01 to 2025-03-31 | −$0.21 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 3 months2025-01-01 to 2025-03-31 | 74,389,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 3 months2025-01-01 to 2025-03-31 | −$15.9m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 3 months2025-01-01 to 2025-03-31 | $46.0k | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Cash and equivalents | At period end2025-03-31 | $43.9m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | At period end2025-03-31 | $114.2m | us-gaap:AssetsCurrent |
| Total assets | At period end2025-03-31 | $419.2m | us-gaap:Assets |
| Current liabilities | At period end2025-03-31 | $89.7m | us-gaap:LiabilitiesCurrent |
| Total liabilities | At period end2025-03-31 | $351.5m | us-gaap:Liabilities |
| Long-term debt | At period end2025-03-31 | $248.5m | us-gaap:LongTermDebtNoncurrent |
| Current portion of debt | At period end2025-03-31 | $19.0m | us-gaap:DebtCurrent |
| Shareholders' equity | At period end2025-03-31 | $67.2m | us-gaap:StockholdersEquity |
Source: SEC EDGAR, the filing index for accession 0001628280-25-022712. Last ingested by Listed: Oct 30, 2026, 16:08 ET. Listed shows no prices and gives no investment advice.