System1 (SST) Intangibles (2021 - 2026)
System1's Intangibles was $96.01 million in Q2 2026, down 48.2% from $185.34 million a year earlier and down 5.3% from the prior quarter.
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Analysis
System1 (SST) Intangibles (2021 - 2026) Analysis & Trends
At the end of FY2025, Intangibles at System1 came in at $148.09 million, down 33.4% from FY2024.
- Intangibles has now declined for three consecutive years, though with a four-year compound annual growth rate of 30.9% (FY2021 to FY2025).
- In earlier years, Intangibles was $222.34 million in FY2024 (-25.1%), $297 million in FY2023 (-20.1%), $371.66 million in FY2022 (+637.9%) and $50.37 million in FY2021.
- The Q2 2026 figure marks the lowest quarterly Intangibles since Q4 2021.
- Compared with a year earlier, Intangibles has declined for 14 straight quarters, with an average decline of 33.4% over the last eight quarters.
- The best year-over-year quarter for Intangibles over five years was Q4 2022 (growth of 637.9%); the worst was Q1 2026 (a decline of 50.3%).
- Per Business Quant data, SST's Intangibles in the three quarters before Q2 2026 was $101.36 million (Q1 2026), $148.09 million (Q4 2025) and $166.71 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Intangibles (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,180.92 Bn | 3,938.44 Bn | 73.85 Bn | 9.11 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 | 2.46 Bn |
| 5 | Shopify | 192.08 Bn | 169.26 Bn | 1.71 Bn | 27.00 Mn |
| 6 | Uber Technologies | 139.76 Bn | 111.74 Bn | 6.38 Bn | 1.13 Bn |
| 7 | Booking Holdings | 122.41 Bn | 55.46 Bn | - | 852.00 Mn |
| 8 | PDD Holdings | 110.94 Bn | -140.99 Bn | 9.45 Bn | 2.00 Mn |
| 9 | Spotify Technology | 100.32 Bn | 57.56 Bn | 1.86 Bn | 41.85 Mn |
| 10 | System1 | 26.68 Mn | -233.14 Mn | 24.27 Mn | 96.01 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 96.01 Mn |
| Mar 31, 2026 | 101.36 Mn |
| Dec 31, 2025 | 148.09 Mn |
| Sep 30, 2025 | 166.71 Mn |
| Jun 30, 2025 | 185.34 Mn |
| Mar 31, 2025 | 203.97 Mn |
| Dec 31, 2024 | 222.34 Mn |
| Sep 30, 2024 | 241.01 Mn |
| Jun 30, 2024 | 259.67 Mn |
| Mar 31, 2024 | 278.34 Mn |
| Dec 31, 2023 | 297.00 Mn |
| Sep 30, 2023 | 315.67 Mn |
| Jun 30, 2023 | 437.32 Mn |
| Mar 31, 2023 | 464.15 Mn |
| Dec 31, 2022 | 371.66 Mn |
| Sep 30, 2022 | 524.60 Mn |
| Jun 30, 2022 | 556.34 Mn |
| Mar 31, 2022 | 587.09 Mn |
| Dec 31, 2021 | 50.37 Mn |
API Access
System1 Intangibles 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=intangibles&ticker=SST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "intangibles", "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=intangibles&ticker=SST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();