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Side-by-side financial comparison of System1, Inc. (SST) and Third Coast Bancshares, Inc. (TCBX). Click either name above to swap in a different company.
Third Coast Bancshares, Inc. is the larger business by last-quarter revenue ($57.7M vs $51.9M, roughly 1.1× System1, Inc.). Third Coast Bancshares, Inc. runs the higher net margin — 28.4% vs -26.0%, a 54.3% gap on every dollar of revenue. Over the past eight quarters, Third Coast Bancshares, Inc.'s revenue compounded faster (17.5% CAGR vs -21.8%).
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.
Third Coast Bancshares, Inc. is a regional financial holding company headquartered in the U.S. Gulf Coast region. It provides a full suite of commercial and retail banking services including deposit products, business and consumer loans, mortgage services, and wealth management solutions, serving local small and medium-sized enterprises, individual consumers, and community clients across Texas and surrounding areas.
SST vs TCBX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $51.9M | $57.7M |
| Net Profit | $-13.5M | $16.4M |
| Gross Margin | 41.0% | — |
| Operating Margin | -33.6% | — |
| Net Margin | -26.0% | 28.4% |
| Revenue YoY | -31.3% | — |
| Net Profit YoY | 4.8% | 20.5% |
| EPS (diluted) | $-3.58 | $0.88 |
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 | — | $57.7M | ||
| Q4 25 | $51.9M | $56.5M | ||
| Q3 25 | $61.6M | $54.5M | ||
| Q2 25 | $78.1M | $52.0M | ||
| Q1 25 | $74.5M | $45.9M | ||
| Q4 24 | $75.6M | $46.3M | ||
| Q3 24 | $88.8M | $42.9M | ||
| Q2 24 | $94.6M | $41.7M |
| Q1 26 | — | $16.4M | ||
| Q4 25 | $-13.5M | $17.9M | ||
| Q3 25 | $-18.5M | $18.1M | ||
| Q2 25 | $-17.5M | $16.7M | ||
| Q1 25 | $-15.9M | $13.6M | ||
| Q4 24 | $-14.2M | $13.7M | ||
| Q3 24 | $-23.6M | $12.8M | ||
| Q2 24 | $-26.4M | $10.8M |
| 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 | -33.6% | 38.1% | ||
| Q3 25 | -25.3% | 41.9% | ||
| Q2 25 | -20.4% | 40.5% | ||
| Q1 25 | -17.6% | 37.8% | ||
| Q4 24 | -15.7% | 38.7% | ||
| Q3 24 | -24.6% | 37.9% | ||
| Q2 24 | -30.8% | 34.1% |
| Q1 26 | — | 28.4% | ||
| Q4 25 | -26.0% | 31.7% | ||
| Q3 25 | -30.1% | 33.1% | ||
| Q2 25 | -22.4% | 32.2% | ||
| Q1 25 | -21.3% | 29.6% | ||
| Q4 24 | -18.7% | 29.7% | ||
| Q3 24 | -26.6% | 29.8% | ||
| Q2 24 | -27.9% | 25.9% |
| Q1 26 | — | $0.88 | ||
| Q4 25 | $-3.58 | $1.02 | ||
| Q3 25 | $-2.30 | $1.03 | ||
| Q2 25 | $-2.23 | $0.96 | ||
| Q1 25 | $-0.21 | $0.78 | ||
| Q4 24 | $-3.41 | $0.80 | ||
| Q3 24 | $-3.37 | $0.74 | ||
| Q2 24 | $-3.80 | $0.63 |
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 | $305.1M | — |
| Stockholders' EquityBook value | $30.5M | $650.5M |
| Total Assets | $405.0M | $6.6B |
| Debt / EquityLower = less leverage | 10.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $86.9M | $175.2M | ||
| Q3 25 | $54.6M | $116.4M | ||
| Q2 25 | $63.6M | $113.1M | ||
| Q1 25 | $43.9M | $219.0M | ||
| Q4 24 | $63.6M | $371.2M | ||
| Q3 24 | $69.1M | $258.2M | ||
| Q2 24 | $75.7M | $241.8M |
| Q1 26 | — | — | ||
| 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 | — | $650.5M | ||
| Q4 25 | $30.5M | $531.0M | ||
| Q3 25 | $42.7M | $513.8M | ||
| Q2 25 | $58.2M | $496.1M | ||
| Q1 25 | $67.2M | $479.8M | ||
| Q4 24 | $80.3M | $460.7M | ||
| Q3 24 | $90.3M | $450.5M | ||
| Q2 24 | $109.4M | $435.0M |
| Q1 26 | — | $6.6B | ||
| Q4 25 | $405.0M | $5.3B | ||
| Q3 25 | $385.2M | $5.1B | ||
| Q2 25 | $429.2M | $4.9B | ||
| Q1 25 | $419.2M | $4.9B | ||
| Q4 24 | $459.1M | $4.9B | ||
| Q3 24 | $479.3M | $4.6B | ||
| Q2 24 | $511.3M | $4.5B |
| Q1 26 | — | — | ||
| 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 | $-10.6M | $50.8M | ||
| Q3 25 | $-2.1M | $20.7M | ||
| Q2 25 | $24.5M | $13.9M | ||
| Q1 25 | $-15.9M | $10.5M | ||
| Q4 24 | $772.0K | $35.1M | ||
| Q3 24 | $-5.0K | $22.0M | ||
| Q2 24 | $10.0M | $7.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-16.0M | — | ||
| Q4 24 | — | $33.4M | ||
| Q3 24 | $-36.0K | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -21.5% | — | ||
| Q4 24 | — | 72.1% | ||
| Q3 24 | -0.0% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.0% | 3.8% | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.84× | ||
| Q3 25 | — | 1.15× | ||
| Q2 25 | — | 0.83× | ||
| Q1 25 | — | 0.77× | ||
| Q4 24 | — | 2.56× | ||
| Q3 24 | — | 1.72× | ||
| Q2 24 | — | 0.68× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SST
Segment breakdown not available.
TCBX
| Net Interest Income | $53.6M | 93% |
| Noninterest Income | $4.0M | 7% |
