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| Date | Value |
|---|---|
| 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 |