Filing Flows › System1 (SST) › Q2 2026 › vs Q2 2025
System1 (SST) Q2 2026 vs Q2 2025 (year over year)
System1's revenue fell $47.9M (-61%) from $78.1M in Q2 2025 to $30.2M in Q2 2026. The biggest changes: Marketing −$43.4M (-80%); Products −$4.5M (-19%).
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 Q2 2025, the increases inside each band.
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Products | $19.5M | $24.0M | −$4.5M | -19% |
| Marketing | $10.7M | $54.1M | −$43.4M | -80% |
| Revenue | $30.2M | $78.1M | −$47.9M | -61% |
| Income tax benefit | $75K | $1.5M | −$1.5M | -95% |
| Net loss | $15.3M | $21.5M | −$6.2M | -29% |
| Costs & expenses | $45.6M | $101M | −$55.6M | -55% |
| Operating costs | $38.5M | $94.0M | −$55.5M | -59% |
| Interest & other, net | $7.1M | $7.2M | −$68K | -0.9% |
| Cost of revenue | $5.9M | $50.2M | −$44.3M | -88% |
| SG&A | $14.5M | $17.5M | −$3.0M | -17% |
| Other operating costs | $18.0M | $26.3M | −$8.3M | -31% |
| Operating cash sources | $15.3M | $21.5M | −$6.2M | -29% |
| Share-based compensation | $1.4M | $4.5M | −$3.2M | -70% |
| Working capital & other | $11.9M | $41.5M | −$29.6M | -71% |
| Cash used in operations | $2.0M | −$24.5M | $26.5M | — |
| Net loss absorbed | $15.3M | $21.5M | −$6.2M | -29% |
Questions
How much did System1's revenue grow year over year in Q2 2026?
System1's revenue fell $47.9M (-61%) from $78.1M in Q2 2025 to $30.2M in Q2 2026.
What drove System1's revenue change in Q2 2026?
Marketing −$43.4M (-80%); Products −$4.5M (-19%).