B+
Bull case
20%
Probability
Target price
$3.25
Analysis reference price unavailable
Analysis 2026-08-08 · RankAlpha Sentiment Codex
SST
System1FNYSE / 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
Value
What changed
Value remains the lead driver in the composite, 7D delta 0.0.
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
40
Sentiment
2
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.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-08-17 • Vendor: Data Vendor v1
Scores
As of 2026-09-11 • Model: HYBRID_IC_RP
AI Memo
As of 2026-08-08 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-09-11
Investment thesis
As of 2026-09-11
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-11. Definitions
Supporting evidence
What
Grade F · Defensive
Confidence Medium · Net Neutral
Target $6.50
Why
Momentum3 · Δ7d -
Value40 · Δ7d 0.0
Sentiment2 · Δ7d -
So what
Weak posture (Net Neutral). Prioritize risk control and patience.
Confirming evidence
- • Value remains the lead driver in the composite, 7D delta 0.0.
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
2026-08-05
Q2 2026 results confirm margin improvement but lower revenue
Lead driver: Value · See fundamentals
Momentum
3
9% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Value
40
28% active weight
Current posture
7d trendFlat
Δ7d
0.0
Δ21d
-6.9
Sentiment
2
62% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Why this grade
Composite grade F. Momentum 2.7 / Value 39.9 / Sentiment 1.5
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 2026-08-17
Fundamentals (TTM)
As of 2026-08-17
Market Cap
$23.18M
Beta
1.53
Shares Out
8.71M
P/E (TTM) · Derived
-0.3
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 2026-09-11 • Updated nightlySource: Internal modelMethods & Data