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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 $335M
LTM EBITDA $42.9M
$253M
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 (LTM) of $335M and a last 12-month EBITDA of $42.9M.
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| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $335M | XXX | $344M | XXX | XXX | XXX |
| Gross Profit | $141M | XXX | $152M | XXX | XXX | XXX |
| Gross Margin | 42% | XXX | 44% | XXX | XXX | XXX |
| EBITDA | $42.9M | XXX | $14.0M | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 4% | XXX | XXX | XXX |
| EBIT | -$84.8M | XXX | -$88.6M | XXX | XXX | XXX |
| EBIT Margin | -25% | XXX | -26% | XXX | XXX | XXX |
| Net Profit | -$81.7M | XXX | -$74.7M | XXX | XXX | XXX |
| Net Margin | -24% | XXX | -22% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $208M | XXX | XXX | XXX |
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As of May 30, 2025, System1's stock price is $0.
System1 has current market cap of $26.6M, and EV of $253M.
See System1 trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $253M | $26.6M | XXX | XXX | XXX | XXX | $-0.91 |
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Start Free TrialAs of May 30, 2025, System1 has market cap of $26.6M and EV of $253M.
System1's trades at 0.7x EV/Revenue multiple, and 18.1x EV/EBITDA.
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 -0.3x.
See valuation multiples for System1 and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $26.6M | XXX | $26.6M | XXX | XXX | XXX |
| EV (current) | $253M | XXX | $253M | XXX | XXX | XXX |
| EV/Revenue | 0.8x | XXX | 0.7x | XXX | XXX | XXX |
| EV/EBITDA | 5.9x | XXX | 18.1x | XXX | XXX | XXX |
| EV/EBIT | -3.0x | XXX | -2.9x | XXX | XXX | XXX |
| EV/Gross Profit | 1.8x | XXX | n/a | XXX | XXX | XXX |
| P/E | -0.3x | XXX | -0.4x | XXX | XXX | XXX |
| EV/FCF | 22.3x | XXX | -22.0x | 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.
Start Free TrialSystem1's last 12 month revenue growth is 0%
System1's revenue per employee in the last FY averaged $1.1M, while opex per employee averaged $0.8M for the same period.
System1's rule of 40 is 5% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
System1's rule of X is 12% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for System1 and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 0% | XXX | 1% | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 4% | XXX | XXX | XXX |
| EBITDA Growth | 20% | XXX | 48% | XXX | XXX | XXX |
| Rule of 40 | 5% | XXX | 4% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 12% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $1.1M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.8M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 70% | 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 |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| 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 $26.6M |
| What is the current revenue of System1? | System1's last 12 months revenue is $335M. |
| What is the current revenue growth of System1? | System1 revenue growth (NTM/LTM) is 0%. |
| What is the current EV/Revenue multiple of System1? | Current revenue multiple of System1 is 0.8x. |
| Is System1 profitable? | Yes, System1 is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of System1? | System1's last 12 months EBITDA is $42.9M. |
| What is System1's EBITDA margin? | System1's last 12 months EBITDA margin is 13%. |
| What is the current EV/EBITDA multiple of System1? | Current EBITDA multiple of System1 is 5.9x. |
| What is the current FCF of System1? | System1's last 12 months FCF is $11.3M. |
| What is System1's FCF margin? | System1's last 12 months FCF margin is 3%. |
| What is the current EV/FCF multiple of System1? | Current FCF multiple of System1 is 22.3x. |
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