System1 annual operating expenses
2021
2022
2023
2024
2025
System1 Operating Expenses Growth & History (SST)
System1's operating expenses was $328.2M for fiscal 2025.
View full System1 company overviewSystem1 annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $328.2M | −$104.4M | −24.13% |
| 2024 | 2024-12-31 | $432.5M | −$55.4M | −11.36% |
| 2023 | 2023-12-31 | $488.0M | −$582.0M | −54.39% |
| 2022 | 2022-12-31 | $1.07B | $432.4M | +67.81% |
| 2021 | 2021-12-31 | $637.6M | — | — |
System1 quarterly operating expenses
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 | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $38.5M | −$55.5M | −59.06% |
| Q1 2026 | 2026-03-31 | $88.3M | $632,000 | +0.72% |
| Q4 2025 | 2025-12-31 | $69.4M | −$18.1M | −20.70% |
| Q3 2025 | 2025-09-30 | $77.1M | −$33.5M | −30.30% |
| Q2 2025 | 2025-06-30 | $94.0M | −$29.6M | −23.97% |
| Q1 2025 | 2025-03-31 | $87.6M | −$23.1M | −20.84% |
| Q4 2024 | 2024-12-31 | $87.5M | −$27.7M | −24.05% |
| Q3 2024 | 2024-09-30 | $110.6M | $2.0M | +1.82% |
| Q2 2024 | 2024-06-30 | $123.7M | $4.9M | +4.15% |
| Q1 2024 | 2024-03-31 | $110.7M | −$34.6M | −23.83% |
| Q4 2023 | 2023-12-31 | $115.2M | $13.9M | +13.71% |
| Q3 2023 | 2023-09-30 | $108.7M | −$403.4M | −78.78% |
| Q2 2023 | 2023-06-30 | $118.7M | −$132.2M | −52.68% |
| Q1 2023 | 2023-03-31 | $145.3M | −$60.3M | −29.31% |
| Q4 2022 | 2022-12-31 | $101.3M | −$91.0M | −47.31% |
| Q3 2022 | 2022-09-30 | $512.1M | $356.7M | +229.49% |
| Q2 2022 | 2022-06-30 | $250.9M | $97.7M | +63.72% |
| Q1 2022 | 2022-03-31 | $205.6M | $69.0M | +50.49% |
| Q4 2021 | 2021-12-31 | $192.3M | — | — |
| Q3 2021 | 2021-09-30 | $155.4M | — | — |
| Q2 2021 | 2021-06-30 | $153.3M | — | — |
| Q1 2021 | 2021-03-31 | $136.6M | — | — |
System1 operating expenses trends
Between the periods ended 2021-12-31 and 2025-12-31, System1's operating expenses decreased from $637.6M to $328.2M, a change of −$309.4M. The latest reported quarter, Q2 2026, shows $38.5M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review System1 source filings ↗