Growth Metrics

System1 (SST) Net Margin (2021 - 2025)

System1's Net Margin history spans 5 years, with the latest figure at 34.25% for Q4 2025.

  • For Q4 2025, Net Margin fell 1043.0% year-over-year to 34.25%; the TTM value through Dec 2025 reached 30.51%, down 222.0%, while the annual FY2025 figure was 30.51%, 222.0% down from the prior year.
  • Net Margin for Q4 2025 was 34.25% at System1, up from 35.67% in the prior quarter.
  • Across five years, Net Margin topped out at 15.42% in Q4 2022 and bottomed at 190.97% in Q3 2022.
  • The 5-year median for Net Margin is 24.97% (2022), against an average of 26.74%.
  • The largest annual shift saw Net Margin tumbled -19168bps in 2022 before it surged 16143bps in 2023.
  • A 5-year view of Net Margin shows it stood at 1.56% in 2021, then surged by 890bps to 15.42% in 2022, then crashed by -173bps to 11.25% in 2023, then crashed by -112bps to 23.82% in 2024, then crashed by -44bps to 34.25% in 2025.
  • Per Business Quant, the three most recent readings for SST's Net Margin are 34.25% (Q4 2025), 35.67% (Q3 2025), and 27.64% (Q2 2025).