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System1 Overview
About System1
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.
Founded
2020
HQ
Employees
300
Website
Financials (LTM)
EV
$247M
System1 Financials
System1 reported last 12-month revenue of $266M.
In the same LTM period, System1 generated had net loss of ($81M).
Revenue (LTM)
System1 P&L
In the most recent fiscal year, System1 reported revenue of $266M and EBITDA of $26M.
System1 expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $266M | XXX | $266M | XXX | XXX | XXX |
| Gross Profit | — | XXX | $100M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 38% | XXX | XXX | XXX |
| EBITDA | — | XXX | $26M | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | 10% | XXX | XXX | XXX |
| EBIT Margin | — | XXX | (23%) | XXX | XXX | XXX |
| Net Profit | ($81M) | XXX | ($65M) | XXX | XXX | XXX |
| Net Margin | (31%) | XXX | (25%) | XXX | XXX | XXX |
| Net Debt | — | — | $218M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
System1 Stock Performance
System1 has current market cap of $19M, and enterprise value of $247M.
Market Cap Evolution
System1's stock price is $2.41.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $247M | $19M | -5.9% | XXX | XXX | XXX | $-8.08 |
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Start Free TrialSystem1 Valuation Multiples
System1 trades at 0.9x EV/Revenue multiple, and 9.4x EV/EBITDA.
EV / Revenue (LTM)
System1 Financial Valuation Multiples
As of April 14, 2026, System1 has market cap of $19M and EV of $247M.
Equity research analysts estimate System1's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
System1 has a P/E ratio of (0.2x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $19M | XXX | $19M | XXX | XXX | XXX |
| EV (current) | $247M | XXX | $247M | XXX | XXX | XXX |
| EV/Revenue | 0.9x | XXX | 0.9x | XXX | XXX | XXX |
| EV/EBITDA | — | XXX | 9.4x | XXX | XXX | XXX |
| EV/EBIT | — | XXX | (4.0x) | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 2.5x | XXX | XXX | XXX |
| P/E | (0.2x) | XXX | (0.3x) | XXX | XXX | XXX |
| EV/FCF | — | XXX | (22.8x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified System1 Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
System1 Margins & Growth Rates
System1's revenue in the last fiscal year declined by (23%).
System1's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.5M for the same period.
System1 Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | — | XXX | (23%) | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | 10% | XXX | XXX | XXX |
| EBITDA Growth | — | XXX | 88% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.9M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 61% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 61% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
System1 Public Comps
See public comps and valuation multiples for other Sales & Marketing Automation Software comps.
Valuation data powered by FactSet, Inc.
System1 M&A Activity
System1 acquired XXX companies to date.
Last acquisition by System1 was on XXXXXXXX, XXXXX. System1 acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by System1
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialSystem1 Investment Activity
System1 invested in XXX companies to date.
System1 made its latest investment on XXXXXXXX, XXXXX. System1 invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by System1
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout System1
| When was System1 founded? | System1 was founded in 2020. |
| Where is System1 headquartered? | System1 is headquartered in United States. |
| How many employees does System1 have? | As of today, System1 has over 300 employees. |
| Who is the CEO of System1? | System1's CEO is Michael L. Blend. |
| Is System1 publicly listed? | Yes, System1 is a public company listed on NYSE. |
| 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? | System1 main competitors are Baseig, TextMagic, Litium, Nuvini. |
| What is the current market cap of System1? | System1's current market cap is $19M. |
| What is the current revenue of System1? | System1's last 12 months revenue is $266M. |
| What is the current EV/Revenue multiple of System1? | Current revenue multiple of System1 is 0.9x. |
| Is System1 profitable? | No, System1 is not profitable. |
| What is the current net income of System1? | System1's last 12 months net income is ($81M). |
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