OSS Q4 revenue down 28% to $13.2M; net loss narrows to $278K; pipeline grows to $1B

ONE STOP SYSTEMS, INC.

Q4 revenue $13.2M (-27.9% YoY); net loss $278K vs $3.3M loss year ago; non-GAAP net income $177K.
Gross margin improved 640 bps to 33.7%; OSS segment margin 45.9% (+1450 bps) from exiting media business.
FY2023 revenue $60.9M (-15.9%); net loss $6.7M ($0.32) vs $2.2M loss; includes $5.6M goodwill impairment.
Five-year pipeline increased to over $1B from $850M; Q1 2024 revenue guidance ~$12.5M.
Won multi-year Leidos/Dynetics award ($2.5-3.5M) and FLYHT collaboration ($6M over 5 years).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ONE STOP SYSTEMS, INC. reported fourth quarter ended December 31, 2023 results: revenue $13.2 million, net income net loss of $278,000, EPS $(0.01) per share.

Period: fourth quarter ended December 31, 2023
Revenue: $13.2 million
Net income: net loss of $278,000
EPS: $(0.01) per share
Result: reported results

Exact text from the filing

Consolidated revenue decreased 27.9% to $13.2 million due to lower shipments to a former media customer that have now ended, which impacted fourth quarter sales by approximately $3.1 million. The decrease in sales was also due to softer economic conditions and timing delays associated with certain government programs. OSS segment revenue declined 43.5% to $6.4 million due to the factors mentioned above. Bressner segment revenue decreased 2.5% to $6.8 million. Consolidated gross margin percentage increased 640 basis points to 33.7%, from 27.3% in the same year-ago quarter. OSS segment gross margin increased 14.5 percentage points to 45.9%, attributable to the absence of lower margin media revenue and costs, and the higher mix of its rugged edge processing products. Bressner’s gross margin improved 1.6 percentage points to 22.2%, as compared to 20.5% in the year-ago quarter, due to product mix, the sale of higher margin OSS products, and having sought-after products readily sold at a pre

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ONE STOP SYSTEMS, INC. reported twelve months ended December 31, 2023 results: revenue $60.9 million.

Period: twelve months ended December 31, 2023
Revenue: $60.9 million
Result: reported results

Exact text from the filing

For the full year of 2023, consolidated revenue decreased 15.9% to $60.9 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ONE STOP SYSTEMS, INC. reported the first quarter of 2024 results: revenue $12.5 million. Guidance initiated.

Period: the first quarter of 2024
Revenue: $12.5 million
Guidance: initiated
Result: guidance update

Exact text from the filing

The company anticipates revenue of approximately $12.5 million in the first quarter of 2024.

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Source: SEC EDGAR

accession 0000950170-24-034686

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