System1 Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
SST$1.730.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Changes in Stockholders' Equity
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited)
| Class A Common Stock · Class C Common Stock | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Additional Paid-In-Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | Non-Controlling Interest | Total Stockholders’Equity | |
| Balance at December 31, 2023 | 65,855 | $7 | 21,513 | $2 | $843,112 | $(707,662) | $(181) | $34,037 | $169,315 |
| Net loss | — | — | — | — | — | (10,537) | — | (3,254) | (13,791) |
| Issuance of common stock in connection with settlement of incentive plan | 970 | — | — | — | 2,464 | — | — | (757) | 1,707 |
| Conversion of Class C shares to Class A shares | 309 | — | (309) | — | 241 | — | — | (241) | — |
| Tax receivable agreement liability and deferred taxes arising from LLC interest ownership exchanges and the issuance of common stock from equity incentive plans | — | — | — | — | (110) | — | — | — | (110) |
| Issuance of restricted stock, net of forfeitures and shares withheld for taxes | 1,498 | — | — | — | 178 | — | — | (1,169) | (991) |
| Other comprehensive loss | — | — | — | — | — | — | (90) | (45) | (135) |
| Stock-based compensation | — | — | — | — | 4,317 | — | — | 88 | 4,405 |
| Contributions from members, net of distributions | — | — | — | — | — | — | — | 5 | 5 |
| Balance at March 31, 2024 | 68,632 | $7 | 21,204 | $2 | $850,202 | $(718,199) | $(271) | $28,664 | $160,405 |
| Net loss | — | — | — | — | — | (26,373) | — | (8,472) | (34,845) |
| Issuance of restricted stock, net of forfeitures and shares withheld for taxes | 623 | — | — | — | 284 | — | — | (308) | (24) |
| Other comprehensive loss | — | — | — | — | — | — | (24) | (72) | (96) |
| Stock-based compensation | — | — | — | — | 3,784 | — | — | 87 | 3,871 |
| Distributions to members | — | — | — | — | — | — | — | (32) | (32) |
| Balance at June 30, 2024 | 69,255 | $7 | 21,204 | $2 | $854,270 | $(744,572) | $(295) | $19,867 | $129,279 |
| Net loss | — | — | — | — | — | (23,602) | — | (7,037) | (30,639) |
| Issuance of restricted stock, net of forfeitures and shares withheld for taxes | 1,205 | — | — | — | 288 | — | — | (308) | (20) |
| Other comprehensive loss | — | — | — | — | — | — | 33 | (77) | (44) |
| Stock-based compensation | — | — | — | — | 4,182 | — | — | 88 | 4,270 |
| Balance at September 30, 2024 | 70,460 | $7 | 21,204 | $2 | $858,740 | $(768,174) | $(262) | $12,533 | $102,846 |
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited)
| Class A Common Stock · Class C Common Stock | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Additional Paid-In-Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | Non-Controlling Interest | Total Stockholders’Equity | |
| Balance at December 31, 2022 | 91,674 | $9 | 21,747 | $2 | $831,566 | $(439,296) | $(260) | $78,650 | $470,671 |
| Net loss | — | — | — | — | — | (33,802) | — | (9,124) | (42,926) |
| Cumulative-effect of adoption of ASU 2016-13 | — | — | — | — | — | (326) | — | — | (326) |
| Issuance of restricted stock, net of forfeitures and shares withheld for taxes | 832 | — | — | — | (1,449) | — | — | (281) | (1,730) |
| Issuance of common stock in connection with settlement of incentive plan | 407 | — | — | — | 1,819 | — | — | (160) | 1,659 |
| Conversion of Class C shares to Class A shares | 234 | — | (234) | — | 1,047 | — | — | (1,047) | — |
| Increase in tax receivable agreement liability | — | — | — | — | (441) | — | — | — | (441) |
| Other comprehensive loss | — | — | — | — | — | — | (62) | (47) | (109) |
| Stock-based compensation | — | — | — | — | 6,203 | — | — | 958 | 7,161 |
| Balance at March 31, 2023 | 93,147 | $9 | 21,513 | $2 | $838,745 | $(473,424) | $(322) | $68,949 | $433,959 |
| Net loss | — | — | — | — | — | (34,301) | — | (8,690) | (42,991) |
| Issuance of restricted stock, net of forfeitures and shares withheld for taxes | 455 | — | — | — | (133) | — | — | (181) | (314) |
| Other comprehensive income (loss) | — | — | — | — | — | — | 208 | (22) | 186 |
| Stock-based compensation | — | — | — | — | 4,956 | — | — | 615 | 5,571 |
| Balance at June 30, 2023 | 93,602 | $9 | 21,513 | $2 | $843,568 | $(507,725) | $(114) | $60,671 | $396,411 |
| Net loss | — | — | — | — | — | (131,490) | — | (31,647) | (163,137) |
| Issuance of restricted stock, net of forfeitures and shares withheld for taxes | 656 | — | — | — | 204 | — | — | (258) | (54) |
| Other comprehensive loss | — | — | — | — | — | — | (165) | (23) | (188) |
| Stock-based compensation | — | — | — | — | 6,493 | — | — | 615 | 7,108 |
| Balance at September 30, 2023 | 94,258 | $9 | 21,513 | $2 | $850,265 | $(639,215) | $(279) | $29,358 | $240,140 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.