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Side-by-side financial comparison of AerSale Corp (ASLE) and System1, Inc. (SST). Click either name above to swap in a different company.
AerSale Corp is the larger business by last-quarter revenue ($90.9M vs $51.9M, roughly 1.8× System1, Inc.). AerSale Corp runs the higher net margin — 5.9% vs -26.0%, a 31.9% gap on every dollar of revenue. On growth, AerSale Corp posted the faster year-over-year revenue change (-4.0% vs -31.3%). Over the past eight quarters, AerSale Corp's revenue compounded faster (0.2% CAGR vs -21.8%).
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013. It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com. It is headquartered in Marina del Rey, California.
ASLE vs SST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $90.9M | $51.9M |
| Net Profit | $5.4M | $-13.5M |
| Gross Margin | 34.1% | 41.0% |
| Operating Margin | 7.8% | -33.6% |
| Net Margin | 5.9% | -26.0% |
| Revenue YoY | -4.0% | -31.3% |
| Net Profit YoY | 99.7% | 4.8% |
| EPS (diluted) | $0.10 | $-3.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $90.9M | $51.9M | ||
| Q3 25 | $71.2M | $61.6M | ||
| Q2 25 | $107.4M | $78.1M | ||
| Q1 25 | $65.8M | $74.5M | ||
| Q4 24 | $94.7M | $75.6M | ||
| Q3 24 | $82.7M | $88.8M | ||
| Q2 24 | $77.1M | $94.6M | ||
| Q1 24 | $90.5M | $84.9M |
| Q4 25 | $5.4M | $-13.5M | ||
| Q3 25 | $-120.0K | $-18.5M | ||
| Q2 25 | $8.6M | $-17.5M | ||
| Q1 25 | $-5.3M | $-15.9M | ||
| Q4 24 | $2.7M | $-14.2M | ||
| Q3 24 | $509.0K | $-23.6M | ||
| Q2 24 | $-3.6M | $-26.4M | ||
| Q1 24 | $6.3M | $-10.5M |
| Q4 25 | 34.1% | 41.0% | ||
| Q3 25 | 30.2% | 36.9% | ||
| Q2 25 | 32.9% | 35.7% | ||
| Q1 25 | 27.3% | 38.2% | ||
| Q4 24 | 31.4% | 42.1% | ||
| Q3 24 | 28.6% | 28.0% | ||
| Q2 24 | 28.2% | 27.6% | ||
| Q1 24 | 31.8% | 21.9% |
| Q4 25 | 7.8% | -33.6% | ||
| Q3 25 | 4.0% | -25.3% | ||
| Q2 25 | 11.7% | -20.4% | ||
| Q1 25 | -10.1% | -17.6% | ||
| Q4 24 | 5.2% | -15.7% | ||
| Q3 24 | 2.4% | -24.6% | ||
| Q2 24 | -2.4% | -30.8% | ||
| Q1 24 | 5.2% | -30.4% |
| Q4 25 | 5.9% | -26.0% | ||
| Q3 25 | -0.2% | -30.1% | ||
| Q2 25 | 8.0% | -22.4% | ||
| Q1 25 | -8.0% | -21.3% | ||
| Q4 24 | 2.9% | -18.7% | ||
| Q3 24 | 0.6% | -26.6% | ||
| Q2 24 | -4.7% | -27.9% | ||
| Q1 24 | 6.9% | -12.4% |
| Q4 25 | $0.10 | $-3.58 | ||
| Q3 25 | $0.00 | $-2.30 | ||
| Q2 25 | $0.18 | $-2.23 | ||
| Q1 25 | $-0.10 | $-0.21 | ||
| Q4 24 | $0.05 | $-3.41 | ||
| Q3 24 | $0.01 | $-3.37 | ||
| Q2 24 | $-0.07 | $-3.80 | ||
| Q1 24 | $0.12 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.4M | $86.9M |
| Total DebtLower is stronger | $1.3M | $305.1M |
| Stockholders' EquityBook value | $424.4M | $30.5M |
| Total Assets | $640.5M | $405.0M |
| Debt / EquityLower = less leverage | 0.00× | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $86.9M | ||
| Q3 25 | $5.3M | $54.6M | ||
| Q2 25 | $5.7M | $63.6M | ||
| Q1 25 | $4.7M | $43.9M | ||
| Q4 24 | $4.7M | $63.6M | ||
| Q3 24 | $9.8M | $69.1M | ||
| Q2 24 | $4.3M | $75.7M | ||
| Q1 24 | $2.6M | $69.9M |
| Q4 25 | $1.3M | $305.1M | ||
| Q3 25 | $1.5M | $259.2M | ||
| Q2 25 | $907.0K | $263.3M | ||
| Q1 25 | $1.1M | $267.4M | ||
| Q4 24 | $1.2M | $255.1M | ||
| Q3 24 | $376.0K | $259.2M | ||
| Q2 24 | $522.0K | $263.3M | ||
| Q1 24 | $3.5M | $268.6M |
| Q4 25 | $424.4M | $30.5M | ||
| Q3 25 | $417.1M | $42.7M | ||
| Q2 25 | $415.9M | $58.2M | ||
| Q1 25 | $406.5M | $67.2M | ||
| Q4 24 | $455.6M | $80.3M | ||
| Q3 24 | $451.5M | $90.3M | ||
| Q2 24 | $449.8M | $109.4M | ||
| Q1 24 | $452.0M | $131.7M |
| Q4 25 | $640.5M | $405.0M | ||
| Q3 25 | $646.3M | $385.2M | ||
| Q2 25 | $646.7M | $429.2M | ||
| Q1 25 | $646.1M | $419.2M | ||
| Q4 24 | $604.7M | $459.1M | ||
| Q3 24 | $601.5M | $479.3M | ||
| Q2 24 | $598.7M | $511.3M | ||
| Q1 24 | $571.7M | $521.1M |
| Q4 25 | 0.00× | 10.01× | ||
| Q3 25 | 0.00× | 6.07× | ||
| Q2 25 | 0.00× | 4.53× | ||
| Q1 25 | 0.00× | 3.98× | ||
| Q4 24 | 0.00× | 3.18× | ||
| Q3 24 | 0.00× | 2.87× | ||
| Q2 24 | 0.00× | 2.41× | ||
| Q1 24 | 0.01× | 2.04× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $11.4M | $-10.6M |
| Free Cash FlowOCF − Capex | $9.8M | — |
| FCF MarginFCF / Revenue | 10.8% | — |
| Capex IntensityCapex / Revenue | 1.7% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.11× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-29.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $-10.6M | ||
| Q3 25 | $-8.9M | $-2.1M | ||
| Q2 25 | $19.8M | $24.5M | ||
| Q1 25 | $-45.2M | $-15.9M | ||
| Q4 24 | $37.5M | $772.0K | ||
| Q3 24 | $10.4M | $-5.0K | ||
| Q2 24 | $-15.3M | $10.0M | ||
| Q1 24 | $-21.5M | $-16.0M |
| Q4 25 | $9.8M | — | ||
| Q3 25 | $-9.8M | — | ||
| Q2 25 | $18.6M | — | ||
| Q1 25 | $-47.6M | $-16.0M | ||
| Q4 24 | $32.3M | — | ||
| Q3 24 | $8.9M | $-36.0K | ||
| Q2 24 | $-18.9M | — | ||
| Q1 24 | $-25.0M | — |
| Q4 25 | 10.8% | — | ||
| Q3 25 | -13.8% | — | ||
| Q2 25 | 17.3% | — | ||
| Q1 25 | -72.4% | -21.5% | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 10.7% | -0.0% | ||
| Q2 24 | -24.6% | — | ||
| Q1 24 | -27.7% | — |
| Q4 25 | 1.7% | 0.0% | ||
| Q3 25 | 1.3% | 0.0% | ||
| Q2 25 | 1.1% | 0.0% | ||
| Q1 25 | 3.7% | 0.1% | ||
| Q4 24 | 5.6% | 0.0% | ||
| Q3 24 | 1.9% | 0.0% | ||
| Q2 24 | 4.7% | 0.0% | ||
| Q1 24 | 3.9% | 0.0% |
| Q4 25 | 2.11× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.31× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.89× | — | ||
| Q3 24 | 20.52× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -3.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
SST
Segment breakdown not available.
