System1 Inc (SST) News & EventsSSTNews & EventsSystem1 Inc

System1 Launches Dogpile Fetch Search API

System1 launched Dogpile Fetch, a web search API and MCP server built for AI agents, under Dogpile. Dogpile Fetch installs in Claude Code, Cursor, or any MCP-compatible client in under two minutes. Every query is classified and routed to the best backend automatically, returning ranked results, knowledge graph data, and People Also Ask questions. "We measured it: pick any one search tool and your agent misses about half of what the other indexes find," said Chris Testa, System1's Chief Technology Officer. "Thirty years ago Dogpile's answer was to search them all and pile up the best results. It turns out that's exactly what your agent needs now."

System1 Enters Debt Exchange Agreement with Lenders

System1 entered into a comprehensive transaction including a debt exchange agreement with all of its existing term loan and revolver lenders and a full settlement of all outstanding disputes with the Lenders. Under the exchange agreement transaction, the Company will exchange its existing term loan facility, which currently has an outstanding principal balance of $252.6 million and a maturity date in July 2027, and its existing revolving credit facility, which has a balance of $50.0 million and a maturity date in January 2027, for a new $150.0 million term loan facility maturing in January 2031 held by the Lenders, the issuance of shares to the Lenders of convertible preferred stock with an aggregate initial stated value of $39.3 million, subject to redemption in January 2031, and a one-time cash payment to the Lenders in the aggregate amount of approximately $31.4 million. Issuance of the convertible preferred stock remains subject to approval by System1 shareholders, which approval is a condition to the closing of the transaction. The Company expects the transaction to close in the third quarter of 2026 following its annual shareholder meeting, the timing of which will be announced at a later date.

System1 Reports Q1 Revenue of $37.2M

Reports Q1 revenue $37.2M vs. $74.5M last year. The company said, ""This quarter marked an important reset for System1 as we narrowed our focus to where we see the greatest opportunities to win: the intersection of AI and consumer intent. With our best-in-class marketing platform and category-leading offerings, System1 is uniquely equipped to thrive as AI agents become a primary interface for shopping, search and travel. We are agile, focused, and ready to lead in the AI-driven future."