System1 (SST) Cost of Revenue (2021 - 2026)

System1 has reported Cost of Revenue for 6 years, with the latest figure at $13.9 million in Q1 2026.

• Quarterly Cost of Revenue fell 69.92% year-over-year to $13.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $133.5 million (down 39.95% YoY) and the FY2025 annual result came in at $165.7 million, down 31.68% from the prior year.
• Cost of Revenue fell to $13.9 million in Q1 2026 per SST's latest filing, from $30.6 million in the prior quarter.
• Over five years, Cost of Revenue peaked at $152.6 million in Q2 2022 and troughed at $13.9 million in Q1 2026.
• A 5-year average of $67.8 million and a median of $58.6 million in 2023 frame the typical range for Cost of Revenue.
• The sharpest annual moves came in 2024 and 2026: Cost of Revenue climbed 26.52% in 2024, then slumped 69.92% in 2026.
• Over 5 years, Cost of Revenue stood at $97.1 million in 2022, then sank by 39.73% to $58.6 million in 2023, then slipped by 25.23% to $43.8 million in 2024, then sank by 30.04% to $30.6 million in 2025, then sank by 54.74% to $13.9 million in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $13.9 million, $30.6 million, and $38.8 million for Q1 2026, Q4 2025, and Q3 2025 respectively.