System1, Inc.
Cash Flow Statement
| Line Item | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 | Mar 2023 | Dec 2021 | Sep 2021 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-26.4M | $-10.5M | $-27.6M | $-131.5M | $-34.3M | $-33.8M | $3.1M | $11.4M |
| Depreciation & Amortization | $19.9M | $19.8M | $19.7M | $19.6M | $19.7M | $19.4M | $3.6M | $3.5M |
| Depreciation | — | — | — | — | — | — | $67.0K | $73.0K |
| Amortization | $18.7M | $18.7M | $18.7M | $18.7M | $18.7M | $18.7M | $2.2M | $2.1M |
| Stock-Based Compensation | $3.4M | $4.0M | $9.0M | $12.3M | $17.7M | $14.1M | $79.0K | $110.0K |
| Net Cash from Operating Activities | $10.0M | $-16.0M | $-18.8M | $-7.3M | $7.2M | $-5.8M | $21.3M | $12.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | $338.0K | $434.0K | $867.0K | $714.0K | $49.0K | $0 |
| Business Acquisitions | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing Activities | $-1.6M | $-1.6M | $210.0M | $-1.8M | $-2.7M | $-2.4M | $-1.6M | $-1.7M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing Activities | $-5.8M | $-48.2M | $-73.0M | $8.3M | $-236.0K | $-9.1M | $-7.0M | $-8.7M |
| Net Change in Cash | $2.6M | $-65.8M | $118.4M | $-1.2M | $4.5M | $-17.4M | $12.4M | $1.6M |
| Free Cash Flow | $10.0M | $-16.0M | $-19.2M | $-7.7M | $6.3M | $-6.5M | $21.3M | $12.1M |