(System1) Shares of System1, Inc. rose more than 12% in premarket on Tuesday after reporting a revenue of $239 million in the fourth quarter of 2021, up 48% from the prior year.
IN FY21, revenue was reported at $833 million, an increase of 47% from FY20
Net income in the fourth quarter was reported at $31 million, an increase from $7 million in the previous year. FY21 net income was $77 million, an increase from just $3 million in the prior year.
Adjusted EBITDA rose 65% from the prior year in the fourth quarter to touch $37 million. The EBITDA was $127 million in FY21, an increase of 103% from the prior year.
System1 now expects revenue in FY22 to hit $1 billion, representing an increase of 20% from the prior year. Adjusted EBITDA is expected at $174 million, up 37% from the prior year.
SST: NYSE is up 12.11% on premarket.
