GSE Systems reports Q4 revenue down 6% YoY to $10.2M; FY23 net loss $8.7M, backlog $34.5M

GSE SYSTEMS INC

2024-Q1 EPS reported -$0.63 revenue$11,283,000

Q4 2023 revenue $10.2M (down 6% YoY); net loss $2.3M or $0.82 per share vs loss $1.5M or $0.68 in Q4 2022.
Full-year 2023 revenue $45.0M (down 5.6% from $47.7M); net loss $8.7M ($3.51 per share) improved vs $15.3M ($7.18) in 2022.
Adjusted EBITDA improved to -$2.0M in FY23 from -$3.5M in FY22; Q4 adjusted EBITDA -$0.1M vs -$0.4M.
Engineering new orders surged 70.9% to $37.6M; total new orders $47.3M, up 19.5%. Backlog $34.5M at year-end.
Post-year-end: $6.3M contract renewal (10.7% increase) and $0.9M first year of $4.3M four-year agreement.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GSE SYSTEMS INC reported fiscal year ended December 31, 2023 results: revenue $45.0 million.

Period: fiscal year ended December 31, 2023
Revenue: $45.0 million
Result: reported results

Exact text from the filing

Revenue in 2023 was $45.0 million a decrease of 5.6% compared to $47.7 million in 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GSE SYSTEMS INC reported fourth quarter ended December 31, 2023 results: revenue $10.2 million, net income $(2.3) million, EPS $(0.82) per basic and diluted share.

Period: fourth quarter ended December 31, 2023
Revenue: $10.2 million
Net income: $(2.3) million
EPS: $(0.82) per basic and diluted share
Result: reported results

Exact text from the filing

corporate debt, while maintaining our cash position which improved in the quarter as a result of the cost saving measures.” Q4 2023 FINANCIAL RESULTS Revenue during Q4 2023 was $10.2 million, a decrease of 12.0% compared to revenue of $11.6 million in Q3 2023, and a decrease of 6.0% revenue from $10.8 million in Q4 2022. The year-over-year decrease of $0.6 million

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Source: SEC EDGAR

accession 0001140361-24-016903

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