B+
Bull case
20%
Probability
Target price
$3.25
Analysis reference price unavailable
Analysis 2026-08-08 · RankAlpha Sentiment Codex
SST
System1DNYSE / Media & Entertainment
Last Price
Quote time unavailable
Current thesis
Products showed operating strength through 85% adjusted gross margin, positive adjusted EBITDA, growth in Startpage sessions, and new AI-agent products. Debt reduction could improve strategic flexibility if the exchange closes.
Posture
Defensive
Lead driver
Sentiment
What changed
Next scheduled catalyst: earnings 2026-11-03.
What can break
Debt exchange closing is subject to shareholder approval and preferred-stock issuance may dilute common holders. [#IR-2026-06-01]
Momentum
3
Value
39
Sentiment
57
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $1.75 · Bull $3.25 · Bear $0.75Analysis 2026-08-08; returns require an exact persisted reference.
Earnings
2026-11-03
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-10-30 • Vendor: Data Vendor v1
Scores
As of 2026-11-02 • Model: HYBRID_IC_RP
AI Memo
As of 2026-08-08 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-11-02
Investment thesis
As of 2026-11-02
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-11-02. Definitions
Supporting evidence
What
Grade D · Defensive
Confidence Medium · Net Neutral
Target $6.50
Why
Momentum3 · Δ7d -
Value39 · Δ7d +0.1
Sentiment57 · Δ7d -
So what
Weak posture (Net Neutral). Prioritize risk control and patience.
Confirming evidence
- • Next scheduled catalyst: earnings 2026-11-03.
- • Sentiment remains the lead driver in the composite.
Contradictions & invalidation
- • Debt exchange closing is subject to shareholder approval and preferred-stock issuance may dilute common holders. [#IR-2026-06-01]
- • GAAP losses and financing costs remain material.
- • Revenue fell to $30.2 million after reduced search-monetization activity, the company remained GAAP loss-making, and Partner Network growth plus AI-product monetization are not yet demonstrated.
Catalyst clock
2026-11-03
Q2 2026 results confirm margin improvement but lower revenue
Lead driver: Sentiment · See AI snapshot
Momentum
3
18% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Value
39
43% active weight
Current posture
7d trendFlat
Δ7d
+0.1
Δ21d
+0.0
Sentiment
57
39% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Why this grade
Composite grade D. Momentum 2.7 / Value 39.2 / Sentiment 57.3
Scenario snapshot
Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-08-08. Scenario method
Most likely
B
Base case
45%
Probability
Target price
$1.75
Analysis reference price unavailable
Analysis 2026-08-08 · RankAlpha Sentiment Codex
B-
Bear case
35%
Probability
Target price
$0.75
Analysis reference price unavailable
Analysis 2026-08-08 · RankAlpha Sentiment Codex
Fundamentals (TTM)As of 2026-10-30
Fundamentals (TTM)
As of 2026-10-30
Market Cap
$17.83M
Beta
1.53
Shares Out
8.71M
P/E (TTM) · Derived
-0.2
P/S (TTM)
0.14
P/FCF (TTM)
47.59
Rev YoY
-61.3%
EPS YoY
-30.9%
Gross Margin
-8.5%
Op Margin
-30.2%
Net Debt
$226.6M
Current Ratio
0.77
As of 2026-11-02 • Updated nightlySource: Internal modelMethods & Data