System1 Inc (OTCPK:SSTPW)

$ 0.0026 (0%) Market Cap: - Enterprise Value: - PE Ratio: 0 PB Ratio: 0.37 GF Score: 47/100

Q2 2024 System1 Inc Earnings Call Transcript

Aug 8, 2024 / 09:00 PM GMT

Transcript 10-Q8-K

Key Points

Positve

System1 Inc (SST) exceeded the high end of guidance across key financial metrics, with $95 million in revenue and $39 million in gross profit.
Adjusted EBITDA was $9.9 million, 42% higher than the high end of the guidance range.
International revenue represented approximately 36% of owned and operated revenue, up from 29% in the first quarter.
CouponFollow saw a significant increase in site traffic and corresponding revenue, with June organic sessions up nearly 80% year-over-year.
Startpage launched a private browser app with over 50,000 downloads and positive user feedback, including over 2,000 5-star ratings.

Negative

Revenue per session was down nearly 60% year-over-year due to lower cost per click rates in the United States and a shift towards international markets.
Partner Network revenue decreased 12% year-over-year, although it was up 8% sequentially.
Partner Network RPS declined 71% year-over-year and 19% quarter-over-quarter.
Operating expenses, although reduced, still present a challenge with a net leverage of approximately 7.5x.
The company is not modeling in any significant contribution from new initiatives in 2024, indicating potential delays in expected growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SST.N - System1 Inc
Q2 2024 System1 Inc Earnings Call
Aug 08, 2024 / 09:00PM GMT

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Conference Call Participants
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* Kyle Ostgaard
* Michael Blend
* Tridivesh Kidambi
* Daniel Kurnos

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Presentation
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Operator [1]
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Thank you for standing by. My name is Joe, and I will be your conference operator today. At this time, I would like to welcome everyone to the System1 second-quarter 2024 earnings call. (Operator Instructions)

I would now like to turn the conference over to Kyle Ostgaard, Vice President of Finance. You may begin.

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Kyle Ostgaard, [2]
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Thank you for standing by, and welcome to the

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