System1 Inc
NYSE:SST
Income Statement
Earnings Waterfall
System1 Inc
Revenue
|
402m
USD
|
Cost of Revenue
|
-248.7m
USD
|
Gross Profit
|
153.2m
USD
|
Operating Expenses
|
-239.2m
USD
|
Operating Income
|
-86m
USD
|
Other Expenses
|
-141.2m
USD
|
Net Income
|
-227.2m
USD
|
Income Statement
System1 Inc
Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | |||||||||||
Revenue |
624
N/A
|
688
+10%
|
760
+10%
|
810
+7%
|
840
+4%
|
827
-2%
|
776
-6%
|
703
-9%
|
590
-16%
|
402
-32%
|
|
Gross Profit | |||||||||||
Cost of Revenue |
(463)
|
(521)
|
(572)
|
(599)
|
(608)
|
(580)
|
(539)
|
(480)
|
(393)
|
(249)
|
|
Gross Profit |
162
N/A
|
167
+3%
|
187
+12%
|
211
+13%
|
232
+10%
|
246
+6%
|
237
-4%
|
223
-6%
|
197
-12%
|
153
-22%
|
|
Operating Income | |||||||||||
Operating Expenses |
(104)
|
(117)
|
(224)
|
(295)
|
(372)
|
(425)
|
(1 084)
|
(1 076)
|
(324)
|
(239)
|
|
Selling, General & Administrative |
(91)
|
(103)
|
(191)
|
(233)
|
(281)
|
(305)
|
(256)
|
(251)
|
(219)
|
(161)
|
|
Depreciation & Amortization |
(13)
|
(14)
|
(33)
|
(62)
|
(91)
|
(120)
|
(122)
|
(118)
|
(106)
|
(78)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
(706)
|
(706)
|
0
|
0
|
|
Operating Income |
58
N/A
|
51
-12%
|
(36)
N/A
|
(84)
-131%
|
(139)
-67%
|
(179)
-28%
|
(847)
-374%
|
(853)
-1%
|
(127)
+85%
|
(86)
+32%
|
|
Pre-Tax Income | |||||||||||
Interest Income Expense |
(19)
|
(17)
|
(19)
|
(22)
|
(27)
|
(33)
|
(39)
|
(44)
|
(47)
|
(49)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
(340)
|
(366)
|
0
|
0
|
(367)
|
(2)
|
|
Total Other Income |
0
|
0
|
(14)
|
(10)
|
(14)
|
(4)
|
11
|
5
|
17
|
5
|
|
Pre-Tax Income |
39
N/A
|
34
-13%
|
(69)
N/A
|
(115)
-67%
|
(521)
-354%
|
(582)
-12%
|
(875)
-50%
|
(891)
-2%
|
(524)
+41%
|
(132)
+75%
|
|
Net Income | |||||||||||
Tax Provision |
(2)
|
(1)
|
14
|
15
|
96
|
103
|
155
|
161
|
81
|
20
|
|
Income from Continuing Operations |
37
|
33
|
(54)
|
(100)
|
(425)
|
(479)
|
(720)
|
(730)
|
(442)
|
(111)
|
|
Income to Minority Interest |
0
|
0
|
7
|
15
|
87
|
106
|
176
|
177
|
111
|
26
|
|
Net Income (Common) |
92
N/A
|
33
-64%
|
(47)
N/A
|
(84)
-80%
|
(337)
-300%
|
(374)
-11%
|
(544)
-46%
|
(553)
-2%
|
(443)
+20%
|
(227)
+49%
|
|
EPS (Diluted) |
1.11
N/A
|
0.39
-65%
|
-0.57
N/A
|
-0.93
-63%
|
-3.7
-298%
|
-4
-8%
|
-5.87
-47%
|
-5.92
-1%
|
-4.71
+20%
|
-2.48
+47%
|