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System1 Announces Third Quarter 2026 Financial Results
- SST
- GOOGN
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GAAP Gross Profit of $20.7 million, margin of 80%
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Adjusted Gross Profit of $21.9 million, margin of 84%
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GAAP Net Loss of $61.5 million
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Adjusted EBITDA of $(0.7) million
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Company announces intention to voluntarily delist from the New York Stock Exchange
LOS ANGELES, November 12, 2026–(BUSINESS WIRE)–System1, Inc. (NYSE: SST) (“System1” or the “Company”), which operates flagship internet utilities including CouponFollow, MapQuest,and Startpage, and a best-in-class customer acquisition and marketing platform powered by artificial intelligence, today announced its financial results for the third quarter of 2026.
“Our third quarter was challenging, as Google’s AI overviews continued to siphon traffic from publishers and Google reduced monetization for independent search engines,” commented Michael Blend, System1’s Co-Founder & Chief Executive Officer. “We responded with a comprehensive strategic review of our businesses and a reallocation of resources to our offerings where AI is a tailwind. Our decision to move from the NYSE to the OTC Venture Market comes from the same discipline – lowering our costs and freeing our team to focus on growth initiatives.”
Tridivesh Kidambi, Chief Financial Officer of System1, added, “Our third quarter results reflect continued pressure on Google monetization at Startpage and the loss of monetizable organic traffic to CouponFollow driven by Google displacing organic links with AI overviews on its search results pages. Our priority is maximizing cash flow and preserving liquidity while we invest selectively behind our highest-return opportunities.”
Note:Adjusted Gross Profit and Adjusted EBITDA are non-GAAP metrics that are defined and reconciled at the end of this release.
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The MapQuest app reached #1 on both the App Store and Android Play Store, driving over 3 million new app installs during the quarter. MapQuest continues to aggressively launch new product offerings, including surveillance camera coverage integrated into the consumer offering, an MCP server to facilitate agentic transactions, and a business listing solution for small and medium-sized businesses.
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Startpage was integrated into Mozilla’s Firefox browser as an additional privacy choice to users. Traffic to the Startpage mobile browser app increased 47% year-over-year in the quarter, and crossed an all-time high of 712,000 daily searches.
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Cently, CouponFollow’s shopping browser extension, introduced several new features designed to make saving money simpler, including surfacing more coupon codes and highlighting those with higher success rates, automatically saving products shoppers browse, and making those saved items easy to organize and find.
