Here is why System1 is up 30%

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System1 Inc. (NYSE: SST) is up 30% after the omnichannel client acquisition marketing firm announced its Q4 and FY 2021 results representing combined Protected net Group Limited and  S1 Holdco LLC  results on a pro forma basis.

CEO and Co-founder Michael Blend said:

We are excited to report our fourth quarter and full year 2021 results, which demonstrate the increasing value of our RAMP technology platform, while we continue to focus on growing our advertising and subscription businesses.

System1 saw a 48% YoY revenue increase in Q4 2021

The company had net revenue of $239 million in the fourth quarter representing a YoY increase of 48% relative to $161 million in Q4 2020. Net income for the quarter was $31 million relative to $7 million in Q4 2020. In the fourth quarter, adjusted EBITDA  was up 65% YoY to £37 million relative to $23 million a year ago.

It is vital to note that the company and Protected.net merged with Trebia Acquisition Corp. However, Trebia results are not included in the 2021 results, but in the audited Trebia 2021 financial results, S1 Holdco and Protected.net have been included in the company’s SEC filings.

For FY 2021, the company saw a 47% YoY growth in revenue to $833 million, up from $567 million a year ago. System1 had a net income of $77 million relative to $3 million a year ago, with adjusted EBITDA increasing 103% YoY to $127 million.

System1 expects revenue of $1 billion in FY 2022

The company anticipates FY 2022 guidance to be $1 billion, representing a YoY increase of 20% with an adjusted EBITDA of $174 million, which is an increase of 37% YoY. The guidance includes contributions from CouponFollow and RoadWarrior acquisitions completed in the first quarter of 2022. These acquisitions account for $25 million and $15 million in revenue and adjusted EBITDA, respectively, in the FY 2022 guidance.  Blend added:

For 2022, we see numerous opportunities to expand our business and will continue to invest in and innovate on our RAMP technology platform. As a new public company, we welcome our new shareholders who are joining us as we solidify our position as a leading privacy-centric digital marketer.

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