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Side-by-side financial comparison of CAMDEN NATIONAL CORP (CAC) and System1, Inc. (SST). Click either name above to swap in a different company.
CAMDEN NATIONAL CORP is the larger business by last-quarter revenue ($64.3M vs $51.9M, roughly 1.2× System1, Inc.). CAMDEN NATIONAL CORP runs the higher net margin — 34.0% vs -26.0%, a 60.0% gap on every dollar of revenue. Over the past eight quarters, CAMDEN NATIONAL CORP's revenue compounded faster (22.6% CAGR vs -21.8%).
Camden National Bank is a commercial bank headquartered in Camden, Maine, operating as the principal subsidiary of Camden National Corporation, a publicly traded bank holding company. Founded in 1875, the bank became a direct, wholly owned subsidiary of the holding company following a corporate reorganization in 1984. Following the 2025 merger with Northway Financial, the combined institution has approximately $7.0 billion in assets.
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.
CAC vs SST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.3M | $51.9M |
| Net Profit | $21.9M | $-13.5M |
| Gross Margin | — | 41.0% |
| Operating Margin | — | -33.6% |
| Net Margin | 34.0% | -26.0% |
| Revenue YoY | — | -31.3% |
| Net Profit YoY | — | 4.8% |
| EPS (diluted) | $1.29 | $-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.
| Q1 26 | $64.3M | — | ||
| Q4 25 | $68.1M | $51.9M | ||
| Q3 25 | $65.4M | $61.6M | ||
| Q2 25 | $62.3M | $78.1M | ||
| Q1 25 | $60.1M | $74.5M | ||
| Q4 24 | $47.6M | $75.6M | ||
| Q3 24 | $45.0M | $88.8M | ||
| Q2 24 | $42.8M | $94.6M |
| Q1 26 | $21.9M | — | ||
| Q4 25 | $22.6M | $-13.5M | ||
| Q3 25 | $21.2M | $-18.5M | ||
| Q2 25 | $14.1M | $-17.5M | ||
| Q1 25 | $7.3M | $-15.9M | ||
| Q4 24 | $14.7M | $-14.2M | ||
| Q3 24 | $13.1M | $-23.6M | ||
| Q2 24 | $12.0M | $-26.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 36.9% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 38.2% | ||
| Q4 24 | — | 42.1% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | — | 27.6% |
| Q1 26 | — | — | ||
| Q4 25 | 41.5% | -33.6% | ||
| Q3 25 | 40.5% | -25.3% | ||
| Q2 25 | 28.5% | -20.4% | ||
| Q1 25 | 10.3% | -17.6% | ||
| Q4 24 | 38.7% | -15.7% | ||
| Q3 24 | 35.2% | -24.6% | ||
| Q2 24 | 34.7% | -30.8% |
| Q1 26 | 34.0% | — | ||
| Q4 25 | 33.1% | -26.0% | ||
| Q3 25 | 32.4% | -30.1% | ||
| Q2 25 | 22.6% | -22.4% | ||
| Q1 25 | 12.2% | -21.3% | ||
| Q4 24 | 30.8% | -18.7% | ||
| Q3 24 | 29.1% | -26.6% | ||
| Q2 24 | 28.0% | -27.9% |
| Q1 26 | $1.29 | — | ||
| Q4 25 | $1.33 | $-3.58 | ||
| Q3 25 | $1.25 | $-2.30 | ||
| Q2 25 | $0.83 | $-2.23 | ||
| Q1 25 | $0.43 | $-0.21 | ||
| Q4 24 | $1.00 | $-3.41 | ||
| Q3 24 | $0.90 | $-3.37 | ||
| Q2 24 | $0.81 | $-3.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $86.9M |
| Total DebtLower is stronger | $514.4M | $305.1M |
| Stockholders' EquityBook value | $710.0M | $30.5M |
| Total Assets | $7.0B | $405.0M |
| Debt / EquityLower = less leverage | 0.72× | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $86.9M | ||
| Q3 25 | — | $54.6M | ||
| Q2 25 | — | $63.6M | ||
| Q1 25 | — | $43.9M | ||
| Q4 24 | — | $63.6M | ||
| Q3 24 | — | $69.1M | ||
| Q2 24 | — | $75.7M |
| Q1 26 | $514.4M | — | ||
| Q4 25 | — | $305.1M | ||
| Q3 25 | — | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | — | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | — | $263.3M |
| Q1 26 | $710.0M | — | ||
| Q4 25 | $696.6M | $30.5M | ||
| Q3 25 | $676.4M | $42.7M | ||
| Q2 25 | $652.1M | $58.2M | ||
| Q1 25 | $640.1M | $67.2M | ||
| Q4 24 | $531.2M | $80.3M | ||
| Q3 24 | $529.9M | $90.3M | ||
| Q2 24 | $508.3M | $109.4M |
| Q1 26 | $7.0B | — | ||
| Q4 25 | $7.0B | $405.0M | ||
| Q3 25 | $7.0B | $385.2M | ||
| Q2 25 | $6.9B | $429.2M | ||
| Q1 25 | $7.0B | $419.2M | ||
| Q4 24 | $5.8B | $459.1M | ||
| Q3 24 | $5.7B | $479.3M | ||
| Q2 24 | $5.7B | $511.3M |
| Q1 26 | 0.72× | — | ||
| Q4 25 | — | 10.01× | ||
| Q3 25 | — | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | — | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | — | 2.41× |
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 | — | $-10.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.9M | $-10.6M | ||
| Q3 25 | $36.1M | $-2.1M | ||
| Q2 25 | $6.0M | $24.5M | ||
| Q1 25 | $1.0M | $-15.9M | ||
| Q4 24 | $60.9M | $772.0K | ||
| Q3 24 | $-14.5M | $-5.0K | ||
| Q2 24 | $14.5M | $10.0M |
| Q1 26 | — | — | ||
| Q4 25 | $58.2M | — | ||
| Q3 25 | $35.4M | — | ||
| Q2 25 | $4.5M | — | ||
| Q1 25 | $-727.0K | $-16.0M | ||
| Q4 24 | $55.4M | — | ||
| Q3 24 | $-16.2M | $-36.0K | ||
| Q2 24 | $13.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 85.5% | — | ||
| Q3 25 | 54.1% | — | ||
| Q2 25 | 7.3% | — | ||
| Q1 25 | -1.2% | -21.5% | ||
| Q4 24 | 116.4% | — | ||
| Q3 24 | -36.0% | -0.0% | ||
| Q2 24 | 30.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 8.4% | 0.0% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 2.4% | 0.0% | ||
| Q1 25 | 2.9% | 0.1% | ||
| Q4 24 | 11.7% | 0.0% | ||
| Q3 24 | 3.8% | 0.0% | ||
| Q2 24 | 3.0% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.83× | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 4.15× | — | ||
| Q3 24 | -1.11× | — | ||
| Q2 24 | 1.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAC
| Net Interest Income | $52.4M | 81% |
| Noninterest Income | $12.0M | 19% |
SST
Segment breakdown not available.
