System1 (SST) Gross Margin (2021 - 2026)
System1 (SST) recorded Gross Margin of 80.38% in Q2 2026, up 44.66 percentage points from 35.72% a year earlier and up 17.60 percentage points from the prior quarter.
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Analysis
System1 (SST) Gross Margin (2021 - 2026) Analysis & Trends
On a TTM basis, System1's Gross Margin came in at 50.68% as of Jun 30, 2026, up 15.05 percentage points year-over-year; for FY2025, it was 37.72%, up 8.26 percentage points from FY2024.
- Annual Gross Margin has a four-year change of +13.42 percentage points (FY2021 to FY2025).
- Across earlier years, Gross Margin came in at 29.46% in FY2024 (-8.66 pp), 38.12% in FY2023 (+9.80 pp), 28.32% in FY2022 (+4.02 pp) and 24.30% in FY2021.
- The Q2 2026 figure is the highest quarterly Gross Margin in data going back to Q1 2021.
- On a year-over-year basis, Gross Margin rose in six of the last eight quarters, with an average year-over-year change of +11.27 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 44.66 percentage points in Q2 2026, against a drop of 14.44 percentage points in Q3 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 62.78% (Q1 2026), 41.04% (Q4 2025) and 36.94% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,180.92 Bn | 3,938.44 Bn | 73.85 Bn | 61.65% |
| 2 | Meta Platforms | 1,847.76 Bn | 1,550.28 Bn | 49.47 Bn | 81.37% |
| 3 | Netflix | 289.73 Bn | 249.92 Bn | 6.52 Bn | 51.93% |
| 4 | Alibaba Group Holding | 249.81 Bn | 67.68 Bn | 15.11 Bn | 38.11% |
| 5 | Shopify | 192.08 Bn | 169.26 Bn | 1.71 Bn | 47.67% |
| 6 | Uber Technologies | 139.76 Bn | 111.74 Bn | 6.38 Bn | 44.93% |
| 7 | Booking Holdings | 122.41 Bn | 55.46 Bn | - | - |
| 8 | PDD Holdings | 110.94 Bn | -140.99 Bn | 9.45 Bn | 57.06% |
| 9 | Spotify Technology | 100.32 Bn | 57.56 Bn | 1.86 Bn | 33.41% |
| 10 | System1 | 26.68 Mn | -233.14 Mn | 24.27 Mn | 80.38% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 80.38% |
| Mar 31, 2026 | 62.78% |
| Dec 31, 2025 | 41.04% |
| Sep 30, 2025 | 36.94% |
| Jun 30, 2025 | 35.72% |
| Mar 31, 2025 | 38.16% |
| Dec 31, 2024 | 42.09% |
| Sep 30, 2024 | 27.96% |
| Jun 30, 2024 | 27.57% |
| Mar 31, 2024 | 21.90% |
| Dec 31, 2023 | 39.09% |
| Sep 30, 2023 | 42.40% |
| Jun 30, 2023 | 41.54% |
| Mar 31, 2023 | 31.51% |
| Dec 31, 2022 | 30.65% |
| Sep 30, 2022 | 29.11% |
| Jun 30, 2022 | 30.59% |
| Mar 31, 2022 | 27.53% |
| Dec 31, 2021 | 22.29% |
| Sep 30, 2021 | 24.82% |
API Access
System1 Gross Margin 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=gross-margin&ticker=SST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=SST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();