Platform revenues accounted for 93% of total group revenues in Q3 2025, with strongest growth in Predict Your data offerings at +57% as the group builds presence in the substantial ad-testing market. The successful shift to a platform-based operation is having a very positive impact on margins, with System1 achieving a 9M25 gross margin of 88%.
Cyborg Score Rationale
Full-year guidance indicates an adjusted PBT of approximately £5m, exceeding market forecasts of £4.4m. Over 120 new clients were won in Q3, contributing to more than a quarter of platform revenues. Strong margin expansion and platform transition momentum offset modest absolute profitability.
Top Insights
Platform revenues grew to 93% of total group revenues in Q3 2025 with Predict Your data growing at +57%
Gross margins reached 88% in 9M25 through successful platform-based operational shift
120+ new client wins in Q3 2025 contributing £2.4m to platform revenues during the period
Healthy balance sheet with £10.2m cash and £2m investment programme underway focused on US market and innovation
Named Competitors
Market Research & Analytics Services — Global marketing services company
Market Research & Analytics — Market research and public opinion polling
Brand Tracking & Research — Market research and consulting services
Recent Developments
(Jan 2025) Upgraded profit expectations with adjusted PBT guidance of £5m vs £4.4m market consensus
(Jan 2025) 120+ new client wins in Q3 2025 with strong momentum in North American pipeline
(Jan 2025) £2m investment programme launched focused on US expansion and innovation initiatives
Open the full interactive System1 Group PLC report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.