System1 annual free cash flow
2021
2022
2023
2024
2025
System1 Free Cash Flow (FCF) History (SST)
System1 reported −$4.2M in free cash flow for fiscal 2025, an increase of $1.1M from the previous fiscal year, with a free cash flow margin of −1.58%.
View full System1 company overviewSystem1 free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | −$4.2M | $1.1M | — | −1.58% |
| 2024 | 2024-12-31 | −$5.3M | $21.8M | — | −1.54% |
| 2023 | 2023-12-31 | −$27.1M | −$26.9M | — | −6.74% |
| 2022 | 2022-12-31 | −$229,000 | −$60.9M | — | −0.04% |
| 2021 | 2021-12-31 | $60.7M | — | — | +8.81% |
System1 quarterly free cash flow
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$3.4M | −$27.9M | — | −11.26% |
| Q1 2026 | 2026-03-31 | −$26.1M | −$10.1M | — | −70.19% |
| Q4 2025 | 2025-12-31 | −$10.6M | −$11.4M | — | −20.48% |
| Q3 2025 | 2025-09-30 | −$2.1M | −$2.0M | — | −3.33% |
| Q2 2025 | 2025-06-30 | $24.5M | $14.5M | +145.78% | +31.35% |
| Q1 2025 | 2025-03-31 | −$16.0M | −$8,000 | — | −21.47% |
| Q4 2024 | 2024-12-31 | $772,000 | $19.9M | — | +1.02% |
| Q3 2024 | 2024-09-30 | −$36,000 | $7.7M | — | −0.04% |
| Q2 2024 | 2024-06-30 | $10.0M | $3.7M | +58.53% | +10.54% |
| Q1 2024 | 2024-03-31 | −$16.0M | −$9.5M | — | −18.83% |
| Q4 2023 | 2023-12-31 | −$19.2M | −$22.9M | — | −19.95% |
| Q3 2023 | 2023-09-30 | −$7.7M | −$14.3M | — | −8.76% |
| Q2 2023 | 2023-06-30 | $6.3M | −$15.4M | −71.00% | +6.49% |
| Q1 2023 | 2023-03-31 | −$6.5M | $25.8M | — | −5.38% |
| Q4 2022 | 2022-12-31 | $3.7M | −$17.6M | −82.46% | +5.38% |
| Q3 2022 | 2022-09-30 | $6.7M | −$5.4M | −44.83% | +4.24% |
| Q2 2022 | 2022-06-30 | $21.7M | $4.5M | +26.12% | +9.86% |
| Q1 2022 | 2022-03-31 | −$32.3M | −$42.4M | — | −19.44% |
| Q4 2021 | 2021-12-31 | $21.3M | — | — | +10.65% |
| Q3 2021 | 2021-09-30 | $12.1M | — | — | +7.03% |
| Q2 2021 | 2021-06-30 | $17.2M | — | — | +10.13% |
| Q1 2021 | 2021-03-31 | $10.1M | — | — | +6.86% |
System1 free cash flow growth trends
System1's latest reported quarter, Q2 2026, generated −$3.4M in free cash flow, a decrease of $27.9M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review System1 filings at SEC.gov ↗