System1 (SST) Accumulated Expenses (2020 - 2026)
System1 (SST) recorded Accumulated Expenses of $23.37 million in Q2 2026, down 66.2% from $69.12 million a year earlier and down 29.8% from the prior quarter.
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Analysis
System1 (SST) Accumulated Expenses (2020 - 2026) Analysis & Trends
At the end of FY2025, System1 reported Accumulated Expenses of $46.28 million, down 39.3% from FY2024.
- Annual Accumulated Expenses has a five-year compound annual growth rate of 137.5% (FY2020 to FY2025).
- Across earlier years, Accumulated Expenses came in at $76.2 million in FY2024 (+28.5%), $59.31 million in FY2023 (-30.9%), $85.78 million in FY2022 (+174.2%) and $31.28 million in FY2021.
- The Q2 2026 figure is the lowest quarterly Accumulated Expenses since Q2 2021.
- On a year-over-year basis, Accumulated Expenses has declined for five consecutive quarters, with an average decline of 16.4% over the last eight quarters.
- Peak year-over-year performance for Accumulated Expenses in the last five years was growth of 174.2% in Q4 2022, against a decline of 66.2% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $33.28 million (Q1 2026), $46.28 million (Q4 2025) and $54.26 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,180.92 Bn | 3,938.44 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,847.76 Bn | 1,550.28 Bn | 49.47 Bn |
| 3 | Netflix | 289.73 Bn | 249.92 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 249.81 Bn | 67.68 Bn | 15.11 Bn |
| 5 | Shopify | 192.08 Bn | 169.26 Bn | 1.71 Bn |
| 6 | Uber Technologies | 139.76 Bn | 111.74 Bn | 6.38 Bn |
| 7 | Booking Holdings | 122.41 Bn | 55.46 Bn | - |
| 8 | PDD Holdings | 110.94 Bn | -140.99 Bn | 9.45 Bn |
| 9 | Spotify Technology | 100.32 Bn | 57.56 Bn | 1.86 Bn |
| 10 | System1 | 26.68 Mn | -233.14 Mn | 24.27 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 23.37 Mn |
| Mar 31, 2026 | 33.28 Mn |
| Dec 31, 2025 | 46.28 Mn |
| Sep 30, 2025 | 54.26 Mn |
| Jun 30, 2025 | 69.12 Mn |
| Mar 31, 2025 | 61.55 Mn |
| Dec 31, 2024 | 76.20 Mn |
| Sep 30, 2024 | 71.07 Mn |
| Jun 30, 2024 | 76.82 Mn |
| Mar 31, 2024 | 52.35 Mn |
| Dec 31, 2023 | 59.31 Mn |
| Sep 30, 2023 | 65.85 Mn |
| Jun 30, 2023 | 77.47 Mn |
| Mar 31, 2023 | 85.73 Mn |
| Dec 31, 2022 | 85.78 Mn |
| Sep 30, 2022 | 91.73 Mn |
| Jun 30, 2022 | 97.96 Mn |
| Mar 31, 2022 | 59.74 Mn |
| Dec 31, 2021 | 31.28 Mn |
| Jun 30, 2021 | 1.80 Mn |
API Access
System1 Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=SST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "SST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=SST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();