Responsive Acquisition Marketing Platform (RAMP)
System1 GAAP Historical Statement of Operations
Revenue
2018
$269
($ in millions)
2019
2020
$407
$476
Operating Costs and Expenses
Cost of revenues
183
276
341
Salaries, commissions, and benefits
42
48
56
Selling, general, and administrative
26
20
23
Depreciation and amortization
6
11
14
Total operating costs and expenses
$257
$355
$433
Operating Income
12
52
43
Interest Expense
Other Expense
Income Tax Expense
Net Income (Loss)
Net Income (Loss) from Continuing Operations
19
26
24
1
1
2
($7)
$24
$16
(2)
24
Net Income (Loss) Attributable to Non-Controlling Interest
Net Income (Loss) Attributable to S1 Holdco
(5)
(7)
(15)
9
47
64
25
16
S1
Note: 2020 and 2019 figures are from 2020 audit, 2018 figures are from 2019 audit. System1 Holdco's Protected.net investment in 2018 and divestiture in 2020 are presented as
discontinued operations in all periods. 2018 figures include Protected.net, while it is excluded from 2019 and 2020.
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