Growth Metrics

System1 (SST) Operating Expenses (2021 - 2025)

System1 (SST) has disclosed Operating Expenses for 5 consecutive years, with $69.4 million as the latest value for Q4 2025.

  • Quarterly Operating Expenses fell 20.7% to $69.4 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $328.2 million through Dec 2025, down 24.13% year-over-year, with the annual reading at $328.2 million for FY2025, 24.13% down from the prior year.
  • Operating Expenses hit $69.4 million in Q4 2025 for System1, down from $77.1 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.
  • Historically, Operating Expenses has averaged $152.5 million across 5 years, with a median of $121.2 million in 2023.
  • Biggest five-year swings in Operating Expenses: surged 229.49% in 2022 and later crashed 78.78% in 2023.
  • Year by year, Operating Expenses stood at $192.3 million in 2021, then grew by 1.13% to $194.4 million in 2022, then tumbled by 40.75% to $115.2 million in 2023, then decreased by 24.05% to $87.5 million in 2024, then fell by 20.7% to $69.4 million in 2025.
  • Business Quant data shows Operating Expenses for SST at $69.4 million in Q4 2025, $77.1 million in Q3 2025, and $94.0 million in Q2 2025.