System1 (SST) Operating Leases (2022 - 2026)
System1 (SST) recorded Operating Leases of $7.31 million in Q2 2026, up 155.7% from $2.86 million a year earlier but down 5.7% from the prior quarter.
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Analysis
System1 (SST) Operating Leases (2022 - 2026) Analysis & Trends
At the end of FY2025, System1 reported Operating Leases of $8.18 million, up 499.5% from FY2024.
- Annual Operating Leases has a three-year compound annual growth rate of 11.7% (FY2022 to FY2025).
- Across earlier years, Operating Leases came in at $1.37 million in FY2024 (-61.9%), $3.58 million in FY2023 (-39.0%) and $5.88 million in FY2022.
- Quarterly Operating Leases has ranged from $1.33 million in Q1 2025 to $8.18 million in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Leases has increased for five consecutive quarters, with growth averaging 130.2% over the last eight quarters.
- Peak year-over-year performance for Operating Leases in the last five years was growth of 499.5% in Q4 2025, against a decline of 61.9% in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $7.75 million (Q1 2026), $8.18 million (Q4 2025) and $2.78 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn |
| 10 | System1 | 27.60 Mn | -232.22 Mn | 24.27 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.31 Mn |
| Mar 31, 2026 | 7.75 Mn |
| Dec 31, 2025 | 8.18 Mn |
| Sep 30, 2025 | 2.78 Mn |
| Jun 30, 2025 | 2.86 Mn |
| Mar 31, 2025 | 1.33 Mn |
| Dec 31, 2024 | 1.37 Mn |
| Sep 30, 2024 | 1.82 Mn |
| Jun 30, 2024 | 2.34 Mn |
| Mar 31, 2024 | 2.94 Mn |
| Dec 31, 2023 | 3.58 Mn |
| Sep 30, 2023 | 4.14 Mn |
| Jun 30, 2023 | 4.78 Mn |
| Mar 31, 2023 | 5.31 Mn |
| Dec 31, 2022 | 5.88 Mn |
| Sep 30, 2022 | 6.41 Mn |
| Jun 30, 2022 | 7.07 Mn |
| Mar 31, 2022 | 5.65 Mn |
API Access
System1 Operating Leases 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=operating-leases&ticker=SST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "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=operating-leases&ticker=SST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();