System1, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:51 pm EST
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System1, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 87.82 million compared to USD 156.9 million a year ago. Net loss was USD 131.43 million compared to USD 241.7 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 2.53 a year ago. Basic loss per share was USD 1.4 compared to USD 2.66 a year ago.
For the nine months, sales was USD 305.85 million compared to USD 524.87 million a year ago. Net loss was USD 200.61 million compared to USD 340.56 million a year ago. Basic loss per share from continuing operations was USD 0.73. Basic loss per share was USD 2.15.
System1, Inc. operates an omnichannel customer acquisition platform, delivering high-intent customers to advertisers. The Company provides its omnichannel customer acquisition platform services through its proprietary responsive acquisition marketing platform (RAMP). The Companyâs Owned and Operated Advertising segment is engaged in directly acquiring traffic to its owned and operated websites and utilizing the RAMP platform and related services to connect advertising partners to its owned and operated websites. Its Partner Network segment is engaged in sharing arrangements with network partners for the use of the RAMP platform, and related services provided to them to direct advertising by the advertising partners to their advertising space. RAMP operates across its network of owned and operated websites and related products, allowing it to monetize user traffic that it sources from various acquisition marketing channels, including Google, Facebook, Taboola and Zemanta.
SYSTEM1, INC. 
