System1 (NYSE:SST), an omni-channel customer acquisition marketing platform, announced its Q4 and full-year earnings yesterday, and SST stock is taking off today as a result. Indeed, SST stock is up a staggering 33% so far today on stronger than expected financial results.
So, what do you need to know about System1 today?
Well, on Monday the newly public company announced its first quarterly earnings since listing on the New York Stock Exchange. If you recall, System1 went public just this past January via a merger with special purpose acquisition company (SPAC) Trebia.
SST reported $833 million in revenue in fiscal 2021, representing 47% year-over-year (YoY) growth. This comes in addition to a 48% Q4 revenue increase YoY.
“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,” noted Chief Executive Michael Blend.
What else do you need to know about the latest out of System1?
SST Stock Soars on Debut Earnings Beat
Today’s earnings announcement surely comes as a treat for System1 investors. Yesterday’s quarterly report was also the first financial disclosure for the company since acquiring RoadWarrior, a route-planning app for economy drivers. Indeed, the deal, which concluded this past February, sat well with investors at the time. Reasonably so, given that System1 owns MapQuest, one of the original route-planning tools. Today’s news only reinforces the assumed synergies between the companies.
System1 has been on something of a winning streak recently. In February, the company was awarded Microsoft Advertising’s 2021 Supply Partner of the Year. The award is given to companies who have “shown excellence in partnership with Microsoft Advertising across the board.”
This comes in addition to yet another new acquisition. Just last month, System1 concluded its acquisition of CouponFollow, an online coupon depot. Expounding on the recent growth, Blend commented, “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.”
Clearly, SST investors have plenty to keep up with. Today they can enjoy the fruits of a much anticipated earnings report that clearly managed to exceed expectations.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
