System1 (SST) Net Margin (2021 - 2026)
System1's Net Margin was -41.72% in Q2 2026, down 19.36 percentage points from -22.36% a year earlier but up 84.69 percentage points from the prior quarter.
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Analysis
System1 (SST) Net Margin (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, System1's Net Margin was -50.66% through Jun 30, 2026, down 28.23 percentage points year-over-year; for FY2025, it was -24.55%, down 2.84 percentage points from FY2024.
- Net Margin shows a four-year change of -29.35 percentage points (FY2021 to FY2025).
- In earlier years, Net Margin was -21.71% in FY2024 (+34.81 pp), -56.53% in FY2023 (-2.56 pp), -53.97% in FY2022 (-58.76 pp) and 4.79% in FY2021.
- Quarterly Net Margin has moved between -154.05% (Q3 2022) and 3.56% (Q3 2021) over five years.
- Compared with a year earlier, Net Margin has declined for four straight quarters, with an average year-over-year change of -0.67 percentage points over the last eight quarters.
- The best year-over-year quarter for Net Margin over five years was Q3 2024 (a gain of 123.16 percentage points); the worst was Q3 2022 (a drop of 157.61 percentage points).
- Per Business Quant data, SST's Net Margin in the three quarters before Q2 2026 was -126.41% (Q1 2026), -25.96% (Q4 2025) and -30.08% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 93.58% |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 26.07% |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 27.08% |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | 3.92% |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 41.92% |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 16.87% |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 26.52% |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | 24.19% |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 65.84% |
| 10 | System1 | 27.60 Mn | -232.22 Mn | 24.27 Mn | -41.72% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -41.72% |
| Mar 31, 2026 | -126.41% |
| Dec 31, 2025 | -25.96% |
| Sep 30, 2025 | -30.08% |
| Jun 30, 2025 | -22.36% |
| Mar 31, 2025 | -21.32% |
| Dec 31, 2024 | -18.73% |
| Sep 30, 2024 | -26.57% |
| Jun 30, 2024 | -27.88% |
| Mar 31, 2024 | -12.41% |
| Dec 31, 2023 | -28.74% |
| Sep 30, 2023 | -149.73% |
| Jun 30, 2023 | -35.39% |
| Mar 31, 2023 | -27.91% |
| Dec 31, 2022 | -19.20% |
| Sep 30, 2022 | -154.05% |
| Jun 30, 2022 | -11.71% |
| Mar 31, 2022 | -21.71% |
| Dec 31, 2021 | 1.56% |
| Sep 30, 2021 | 3.56% |
API Access
System1 Net 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=net-margin&ticker=SST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=SST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();