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Side-by-side financial comparison of RHYTHM PHARMACEUTICALS, INC. (RYTM) and System1, Inc. (SST). Click either name above to swap in a different company.
RHYTHM PHARMACEUTICALS, INC. is the larger business by last-quarter revenue ($57.3M vs $51.9M, roughly 1.1× System1, Inc.). System1, Inc. runs the higher net margin — -26.0% vs -83.0%, a 57.0% gap on every dollar of revenue. On growth, RHYTHM PHARMACEUTICALS, INC. posted the faster year-over-year revenue change (36.9% vs -31.3%). Over the past eight quarters, RHYTHM PHARMACEUTICALS, INC.'s revenue compounded faster (48.5% CAGR vs -21.8%).
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
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.
RYTM vs SST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.3M | $51.9M |
| Net Profit | $-47.5M | $-13.5M |
| Gross Margin | 91.6% | 41.0% |
| Operating Margin | -82.2% | -33.6% |
| Net Margin | -83.0% | -26.0% |
| Revenue YoY | 36.9% | -31.3% |
| Net Profit YoY | -9.6% | 4.8% |
| EPS (diluted) | $-0.73 | $-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 | $57.3M | $51.9M | ||
| Q3 25 | $51.3M | $61.6M | ||
| Q2 25 | $48.5M | $78.1M | ||
| Q1 25 | $32.7M | $74.5M | ||
| Q4 24 | $41.8M | $75.6M | ||
| Q3 24 | $33.3M | $88.8M | ||
| Q2 24 | $29.1M | $94.6M | ||
| Q1 24 | $26.0M | $84.9M |
| Q4 25 | $-47.5M | $-13.5M | ||
| Q3 25 | $-52.9M | $-18.5M | ||
| Q2 25 | $-46.6M | $-17.5M | ||
| Q1 25 | $-49.5M | $-15.9M | ||
| Q4 24 | $-43.3M | $-14.2M | ||
| Q3 24 | $-43.6M | $-23.6M | ||
| Q2 24 | $-32.3M | $-26.4M | ||
| Q1 24 | $-141.4M | $-10.5M |
| Q4 25 | 91.6% | 41.0% | ||
| Q3 25 | 89.3% | 36.9% | ||
| Q2 25 | 88.6% | 35.7% | ||
| Q1 25 | 88.8% | 38.2% | ||
| Q4 24 | 90.9% | 42.1% | ||
| Q3 24 | 88.5% | 28.0% | ||
| Q2 24 | 89.9% | 27.6% | ||
| Q1 24 | 89.2% | 21.9% |
| Q4 25 | -82.2% | -33.6% | ||
| Q3 25 | -102.6% | -25.3% | ||
| Q2 25 | -93.4% | -20.4% | ||
| Q1 25 | -143.7% | -17.6% | ||
| Q4 24 | -98.6% | -15.7% | ||
| Q3 24 | -132.0% | -24.6% | ||
| Q2 24 | -139.2% | -30.8% | ||
| Q1 24 | -538.7% | -30.4% |
| Q4 25 | -83.0% | -26.0% | ||
| Q3 25 | -103.1% | -30.1% | ||
| Q2 25 | -96.1% | -22.4% | ||
| Q1 25 | -151.4% | -21.3% | ||
| Q4 24 | -103.6% | -18.7% | ||
| Q3 24 | -131.2% | -26.6% | ||
| Q2 24 | -110.9% | -27.9% | ||
| Q1 24 | -544.4% | -12.4% |
| Q4 25 | $-0.73 | $-3.58 | ||
| Q3 25 | $-0.82 | $-2.30 | ||
| Q2 25 | $-0.75 | $-2.23 | ||
| Q1 25 | $-0.81 | $-0.21 | ||
| Q4 24 | $-0.71 | $-3.41 | ||
| Q3 24 | $-0.73 | $-3.37 | ||
| Q2 24 | $-0.55 | $-3.80 | ||
| Q1 24 | $-2.35 | $-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 | $388.9M | $86.9M |
| Total DebtLower is stronger | — | $305.1M |
| Stockholders' EquityBook value | $139.1M | $30.5M |
| Total Assets | $480.2M | $405.0M |
| Debt / EquityLower = less leverage | — | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $388.9M | $86.9M | ||
| Q3 25 | $416.1M | $54.6M | ||
| Q2 25 | $291.0M | $63.6M | ||
| Q1 25 | $314.5M | $43.9M | ||
| Q4 24 | $320.6M | $63.6M | ||
| Q3 24 | $298.4M | $69.1M | ||
| Q2 24 | $319.1M | $75.7M | ||
| Q1 24 | $201.2M | $69.9M |
| 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 24 | — | $268.6M |
| Q4 25 | $139.1M | $30.5M | ||
| Q3 25 | $148.8M | $42.7M | ||
| Q2 25 | $-11.9M | $58.2M | ||
| Q1 25 | $18.9M | $67.2M | ||
| Q4 24 | $21.7M | $80.3M | ||
| Q3 24 | $11.2M | $90.3M | ||
| Q2 24 | $39.3M | $109.4M | ||
| Q1 24 | $61.6M | $131.7M |
| Q4 25 | $480.2M | $405.0M | ||
| Q3 25 | $506.9M | $385.2M | ||
| Q2 25 | $372.7M | $429.2M | ||
| Q1 25 | $386.7M | $419.2M | ||
| Q4 24 | $392.3M | $459.1M | ||
| Q3 24 | $363.6M | $479.3M | ||
| Q2 24 | $381.8M | $511.3M | ||
| Q1 24 | $258.7M | $521.1M |
| 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× | ||
| Q1 24 | — | 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 | $-25.4M | $-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.
| Q4 25 | $-25.4M | $-10.6M | ||
| Q3 25 | $-26.6M | $-2.1M | ||
| Q2 25 | $-23.3M | $24.5M | ||
| Q1 25 | $-40.4M | $-15.9M | ||
| Q4 24 | $-18.8M | $772.0K | ||
| Q3 24 | $-25.2M | $-5.0K | ||
| Q2 24 | $-29.1M | $10.0M | ||
| Q1 24 | $-40.7M | $-16.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-16.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-36.0K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
