Filing Flows › System1 (SST) › Q2 2026 › vs Q1 2026
System1 (SST) Q2 2026 vs Q1 2026 (quarter over quarter)
System1's revenue fell $7.0M (-19%) from $37.2M in Q1 2026 to $30.2M in Q2 2026. The biggest changes: Marketing −$7.7M (-42%); Products +$634K (+3%).
System1, Q2 2026: revenue $30.2M (-61% year over year), operating margin -27.5%, net loss $15.3M, operating cash flow −$2.0M. The chart draws each line against Q1 2026, the increases inside each band.
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Products | $19.5M | $18.8M | $634K | +3% |
| Marketing | $10.7M | $18.4M | −$7.7M | -42% |
| Revenue | $30.2M | $37.2M | −$7.0M | -19% |
| Income tax benefit | $75K | $75K | $0 | 0% |
| Net loss | $15.3M | $57.6M | −$42.3M | -73% |
| Costs & expenses | $45.6M | $94.9M | −$49.3M | -52% |
| Operating costs | $38.5M | $88.3M | −$49.8M | -56% |
| Interest & other, net | $7.1M | $6.6M | $487K | +7% |
| Cost of revenue | $5.9M | $13.9M | −$7.9M | -57% |
| SG&A | $14.5M | $16.8M | −$2.2M | -13% |
| Other operating costs | $18.0M | $57.6M | −$39.6M | -69% |
| Operating cash sources | $15.3M | $57.6M | −$42.3M | -73% |
| Share-based compensation | $1.4M | $1.3M | $91K | +7% |
| Working capital & other | $11.9M | $30.2M | −$18.3M | -60% |
| Cash used in operations | $2.0M | $26.1M | −$24.1M | -92% |
| Net loss absorbed | $15.3M | $57.6M | −$42.3M | -73% |
Questions
How much did System1's revenue grow quarter over quarter in Q2 2026?
System1's revenue fell $7.0M (-19%) from $37.2M in Q1 2026 to $30.2M in Q2 2026.
What drove System1's revenue change in Q2 2026?
Marketing −$7.7M (-42%); Products +$634K (+3%).