Growth Metrics

System1 (SST) Cost of Revenue (2021 - 2025)

System1 (SST) has disclosed Cost of Revenue for 5 consecutive years, with $30.6 million as the latest value for Q4 2025.

  • Quarterly Cost of Revenue fell 30.04% to $30.6 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $165.7 million through Dec 2025, down 31.68% year-over-year, with the annual reading at $165.7 million for FY2025, 31.68% down from the prior year.
  • Cost of Revenue hit $30.6 million in Q4 2025 for System1, down from $38.8 million in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $155.3 million in Q4 2021 to a low of $30.6 million in Q4 2025.
  • Historically, Cost of Revenue has averaged $83.0 million across 5 years, with a median of $67.4 million in 2024.
  • Biggest five-year swings in Cost of Revenue: crashed 62.86% in 2023 and later rose 26.52% in 2024.
  • Year by year, Cost of Revenue stood at $155.3 million in 2021, then tumbled by 37.44% to $97.1 million in 2022, then plummeted by 39.73% to $58.6 million in 2023, then fell by 25.23% to $43.8 million in 2024, then plummeted by 30.04% to $30.6 million in 2025.
  • Business Quant data shows Cost of Revenue for SST at $30.6 million in Q4 2025, $38.8 million in Q3 2025, and $50.2 million in Q2 2025.