System1 (SST) Operating Expenses (2020 - 2026)

System1 (SST) reported Operating Expenses of $88.3 million for Q1 2026, up 0.72% on a YoY basis from $87.6 million in Q1 2025, and up 27.22% sequentially from $69.4 million in Q4 2025.

System1 (SST) Operating Expenses (2020 - 2026) Analysis & Trends

System1 (SST) has 7 years of Operating Expenses data on file, last reported at $88.3 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses rose 0.72% year-over-year to $88.3 million; the trailing twelve-month figure through Mar 2026 stood at $328.8 million (down 19.7% YoY), and the FY2025 full-year result was $328.2 million, down 24.13% from the prior year.
  • Operating Expenses advanced to $88.3 million in Q1 2026, from $69.4 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $512.1 million in Q3 2022 to a low of $69.4 million in Q4 2025.
  • A 5-year average of $147.1 million and a median of $110.7 million in 2024 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses soared 229.49% in 2022 and plunged 78.78% in 2023, its largest moves.
  • Tracing SST's Operating Expenses over 5 years: stood at $194.4 million in 2022, then plunged by 40.75% to $115.2 million in 2023, then declined by 24.05% to $87.5 million in 2024, then fell by 20.7% to $69.4 million in 2025, then advanced by 27.22% to $88.3 million in 2026.
  • Business Quant data shows SST's Operating Expenses at $88.3 million in Q1 2026, $69.4 million in Q4 2025, and $77.1 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Cintas 81.31 Bn 81.12 Bn 1.45 Bn 788.55 Mn
2 Rentokil Initial 73.75 Bn 71.25 Bn - 6.06 Bn
3 Relx 60.28 Bn 60.04 Bn - -
4 Thomson Reuters 38.09 Bn 37.23 Bn - -1.20 Bn
5 Copart 25.18 Bn 21.85 Bn 732.88 Mn 772.78 Mn
6 Global Payments 21.29 Bn 16.10 Bn 1.70 Bn 2.99 Bn
7 Rb Global 20.33 Bn 20.14 Bn 927.90 Mn 1.02 Bn
8 UL Solutions 17.42 Bn 17.18 Bn 381.00 Mn 243.00 Mn
9 Aramark 15.00 Bn 14.59 Bn 426.39 Mn 4.69 Bn
10 System1 14.56 Mn -61.04 Mn 23.37 Mn 88.27 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 88.27 Mn
Dec 31, 2025 69.38 Mn
Sep 30, 2025 77.13 Mn
Jun 30, 2025 94.02 Mn
Mar 31, 2025 87.64 Mn
Dec 31, 2024 87.50 Mn
Sep 30, 2024 110.65 Mn
Jun 30, 2024 123.67 Mn
Mar 31, 2024 110.71 Mn
Dec 31, 2023 115.20 Mn
Sep 30, 2023 108.67 Mn
Jun 30, 2023 118.74 Mn
Mar 31, 2023 145.35 Mn
Dec 31, 2022 194.44 Mn
Sep 30, 2022 512.09 Mn
Jun 30, 2022 250.91 Mn
Mar 31, 2022 205.60 Mn
Dec 31, 2021 192.27 Mn
Sep 30, 2021 155.42 Mn
Jun 30, 2021 153.25 Mn