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Side-by-side financial comparison of System1, Inc. (SST) and UNITY BANCORP INC (UNTY). Click either name above to swap in a different company.
System1, Inc. is the larger business by last-quarter revenue ($51.9M vs $35.3M, roughly 1.5× UNITY BANCORP INC). UNITY BANCORP INC runs the higher net margin — 43.9% vs -26.0%, a 69.8% gap on every dollar of revenue. On growth, UNITY BANCORP INC posted the faster year-over-year revenue change (24.2% vs -31.3%). Over the past eight quarters, UNITY BANCORP 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.
Unity Bancorp Inc is a New Jersey-headquartered financial holding company operating Unity Bank. It offers a full range of commercial and retail banking services including business loans, deposit products, mortgage services, and personal banking solutions, primarily serving small and medium-sized enterprises and individual consumers across local communities in New Jersey and eastern Pennsylvania.
SST vs UNTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $51.9M | $35.3M |
| Net Profit | $-13.5M | $15.5M |
| Gross Margin | 41.0% | — |
| Operating Margin | -33.6% | 55.8% |
| Net Margin | -26.0% | 43.9% |
| Revenue YoY | -31.3% | 24.2% |
| Net Profit YoY | 4.8% | 34.5% |
| EPS (diluted) | $-3.58 | $1.52 |
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 | $51.9M | $35.3M | ||
| Q3 25 | $61.6M | $32.8M | ||
| Q2 25 | $78.1M | $34.4M | ||
| Q1 25 | $74.5M | $29.4M | ||
| Q4 24 | $75.6M | $28.4M | ||
| Q3 24 | $88.8M | $27.7M | ||
| Q2 24 | $94.6M | $25.5M | ||
| Q1 24 | $84.9M | $25.6M |
| Q4 25 | $-13.5M | $15.5M | ||
| Q3 25 | $-18.5M | $14.4M | ||
| Q2 25 | $-17.5M | $16.5M | ||
| Q1 25 | $-15.9M | $11.6M | ||
| Q4 24 | $-14.2M | $11.5M | ||
| Q3 24 | $-23.6M | $10.9M | ||
| Q2 24 | $-26.4M | $9.5M | ||
| Q1 24 | $-10.5M | $9.6M |
| 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 24 | 21.9% | — |
| Q4 25 | -33.6% | 55.8% | ||
| Q3 25 | -25.3% | 57.5% | ||
| Q2 25 | -20.4% | 62.6% | ||
| Q1 25 | -17.6% | 52.6% | ||
| Q4 24 | -15.7% | 51.0% | ||
| Q3 24 | -24.6% | 52.7% | ||
| Q2 24 | -30.8% | 49.3% | ||
| Q1 24 | -30.4% | 50.0% |
| Q4 25 | -26.0% | 43.9% | ||
| Q3 25 | -30.1% | 43.8% | ||
| Q2 25 | -22.4% | 48.0% | ||
| Q1 25 | -21.3% | 39.5% | ||
| Q4 24 | -18.7% | 40.5% | ||
| Q3 24 | -26.6% | 39.4% | ||
| Q2 24 | -27.9% | 37.1% | ||
| Q1 24 | -12.4% | 37.5% |
| Q4 25 | $-3.58 | $1.52 | ||
| Q3 25 | $-2.30 | $1.41 | ||
| Q2 25 | $-2.23 | $1.61 | ||
| Q1 25 | $-0.21 | $1.13 | ||
| Q4 24 | $-3.41 | $1.13 | ||
| Q3 24 | $-3.37 | $1.07 | ||
| Q2 24 | $-3.80 | $0.92 | ||
| Q1 24 | $-0.16 | $0.94 |
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 | $345.6M |
| Total Assets | $405.0M | $3.0B |
| Debt / EquityLower = less leverage | 10.01× | — |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | $69.9M | — |
| Q4 25 | $305.1M | — | ||
| Q3 25 | $259.2M | — | ||
| Q2 25 | $263.3M | — | ||
| Q1 25 | $267.4M | — | ||
| Q4 24 | $255.1M | $230.8M | ||
| Q3 24 | $259.2M | — | ||
| Q2 24 | $263.3M | — | ||
| Q1 24 | $268.6M | — |
| Q4 25 | $30.5M | $345.6M | ||
| Q3 25 | $42.7M | $334.0M | ||
| Q2 25 | $58.2M | $319.8M | ||
| Q1 25 | $67.2M | $306.1M | ||
| Q4 24 | $80.3M | $295.6M | ||
| Q3 24 | $90.3M | $284.3M | ||
| Q2 24 | $109.4M | $273.4M | ||
| Q1 24 | $131.7M | $266.8M |
| Q4 25 | $405.0M | $3.0B | ||
| Q3 25 | $385.2M | $2.9B | ||
| Q2 25 | $429.2M | $2.9B | ||
| Q1 25 | $419.2M | $2.8B | ||
| Q4 24 | $459.1M | $2.7B | ||
| Q3 24 | $479.3M | $2.6B | ||
| Q2 24 | $511.3M | $2.6B | ||
| Q1 24 | $521.1M | $2.6B |
| Q4 25 | 10.01× | — | ||
| Q3 25 | 6.07× | — | ||
| Q2 25 | 4.53× | — | ||
| Q1 25 | 3.98× | — | ||
| Q4 24 | 3.18× | 0.78× | ||
| 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 | $-10.6M | $44.9M |
| Free Cash FlowOCF − Capex | — | $44.3M |
| FCF MarginFCF / Revenue | — | 125.7% |
| Capex IntensityCapex / Revenue | 0.0% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 2.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | $81.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-10.6M | $44.9M | ||
| Q3 25 | $-2.1M | $45.5M | ||
| Q2 25 | $24.5M | $-25.3M | ||
| Q1 25 | $-15.9M | $17.9M | ||
| Q4 24 | $772.0K | $48.0M | ||
| Q3 24 | $-5.0K | $17.7M | ||
| Q2 24 | $10.0M | $-8.4M | ||
| Q1 24 | $-16.0M | $15.8M |
| Q4 25 | — | $44.3M | ||
| Q3 25 | — | $45.3M | ||
| Q2 25 | — | $-25.5M | ||
| Q1 25 | $-16.0M | $17.6M | ||
| Q4 24 | — | $47.3M | ||
| Q3 24 | $-36.0K | $17.5M | ||
| Q2 24 | — | $-8.6M | ||
| Q1 24 | — | $15.7M |
| Q4 25 | — | 125.7% | ||
| Q3 25 | — | 138.1% | ||
| Q2 25 | — | -74.2% | ||
| Q1 25 | -21.5% | 59.9% | ||
| Q4 24 | — | 166.5% | ||
| Q3 24 | -0.0% | 63.3% | ||
| Q2 24 | — | -33.7% | ||
| Q1 24 | — | 61.4% |
| Q4 25 | 0.0% | 1.6% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | 0.0% | 0.5% | ||
| Q1 25 | 0.1% | 1.0% | ||
| Q4 24 | 0.0% | 2.4% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.5% | ||
| Q1 24 | 0.0% | 0.3% |
| Q4 25 | — | 2.90× | ||
| Q3 25 | — | 3.16× | ||
| Q2 25 | — | -1.54× | ||
| Q1 25 | — | 1.54× | ||
| Q4 24 | — | 4.17× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | -0.89× | ||
| Q1 24 | — | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
