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System1 Inc develops technology and data science to operate a responsive acquisition marketing platform. It serves customers in the areas of health and wellness, automotive, finance, travel, and entertainment. The company's segment includes Owned and Operated Advertising (O&O); and Partner Network. It generates maximum revenue from the Owned and Operated Advertising (O&O) segment. Geographically, it operates in United States and Other countries.
2020
300
LTM Revenue $339M
LTM EBITDA $39.9M
$235M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
System1 has a last 12-month revenue of $339M and a last 12-month EBITDA of $39.9M.
In the most recent fiscal year, System1 achieved revenue of $344M and an EBITDA of $14.0M.
System1 expects next 12-month revenue of XXX and NTM EBITDA of XXX
See System1 valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $402M | $344M | XXX | XXX | XXX |
| Gross Profit | n/a | $153M | XXX | XXX | XXX |
| Gross Margin | NaN% | 45% | XXX | XXX | XXX |
| EBITDA | $22.3M | $14.0M | XXX | XXX | XXX |
| EBITDA Margin | 6% | 4% | XXX | XXX | XXX |
| Net Profit | n/a | -$227M | XXX | XXX | XXX |
| Net Margin | NaN% | -66% | XXX | XXX | XXX |
| Net Debt | $390M | $214M | XXX | XXX | XXX |
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As of April 15, 2025, System1's stock price is $0.
System1 has current market cap of $23.3M, and EV of $235M.
See System1 trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $235M | $23.3M | XXX | XXX | XXX | XXX | $-0.97 |
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Sign UpAs of April 15, 2025, System1 has market cap of $23.3M and EV of $235M.
System1's trades at 0.7x LTM EV/Revenue multiple, and 5.9x LTM EBITDA.
Analysts estimate System1's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for System1 and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $235M | XXX | XXX | XXX |
| EV/Revenue | 0.7x | XXX | XXX | XXX |
| EV/EBITDA | 16.8x | XXX | XXX | XXX |
| P/E | -0.3x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -20.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpSystem1's NTM/LTM revenue growth is -1%
System1's revenue per employee for the last fiscal year averaged $1.1M, while opex per employee averaged $0.8M for the same period.
Over next 12 months, System1's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate System1's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for System1 and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -14% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 4% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -37% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 3% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $1.1M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.8M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 47% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 70% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Bigtincan | XXX | XXX | XXX | XXX | XXX | XXX |
| Agillic | XXX | XXX | XXX | XXX | XXX | XXX |
| Nexcom | XXX | XXX | XXX | XXX | XXX | XXX |
| Binect | XXX | XXX | XXX | XXX | XXX | XXX |
| Performance One | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
System1 acquired XXX companies to date.
Last acquisition by System1 was XXXXXXXX, XXXXX XXXXX XXXXXX . System1 acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was System1 founded? | System1 was founded in 2020. |
| Where is System1 headquartered? | System1 is headquartered in United States of America. |
| How many employees does System1 have? | As of today, System1 has 300 employees. |
| Who is the CEO of System1? | System1's CEO is Mr. Michael L. Blend. |
| Is System1 publicy listed? | Yes, System1 is a public company listed on NYS. |
| What is the stock symbol of System1? | System1 trades under SST ticker. |
| When did System1 go public? | System1 went public in 2022. |
| Who are competitors of System1? | Similar companies to System1 include e.g. Bigtincan, Agillic, Nexcom, Binect. |
| What is the current market cap of System1? | System1's current market cap is $23.3M |
| What is the current revenue of System1? | System1's last 12-month revenue is $339M. |
| What is the current EBITDA of System1? | System1's last 12-month EBITDA is $39.9M. |
| What is the current EV/Revenue multiple of System1? | Current revenue multiple of System1 is 0.7x. |
| What is the current EV/EBITDA multiple of System1? | Current EBITDA multiple of System1 is 5.9x. |
| What is the current revenue growth of System1? | System1 revenue growth between 2023 and 2024 was -14%. |
| Is System1 profitable? | Yes, System1 is EBITDA-positive (as of the last 12 months). |
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