{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-016903","form_type":"8-K","ticker":null,"cik":"0000944480","company_name":"GSE SYSTEMS INC","filed_at":"2024-04-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.567169+00:00","generated_at":"2026-06-04T05:09:35.340219+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"GSE Systems reports Q4 revenue down 6% YoY to $10.2M; FY23 net loss $8.7M, backlog $34.5M","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-016903","json":"https://secwatch.observer/filing/0001140361-24-016903.json","markdown":"https://secwatch.observer/filing/0001140361-24-016903.md","text":"https://secwatch.observer/filing/0001140361-24-016903.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/944480/000114036124016903/0001140361-24-016903-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/944480/000114036124016903/ef20025606_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T05:09:35.340219+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ddeb4fb42fb9d96e3b10b8abf92869d66c768e71","claim":"GSE SYSTEMS INC reported fiscal year ended December 31, 2023 results: revenue $45.0 million.","evidence_excerpt":"Revenue in 2023 was $45.0 million a decrease of 5.6% compared to $47.7 million in 2022.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/944480/000114036124016903/0001140361-24-016903-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fiscal year ended December 31, 2023"},{"label":"Revenue","value":"$45.0 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"f71d4269f088ea8cdbd312795dce64690a874f6f","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/944480/000114036124016903/0001140361-24-016903-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter ended December 31, 2023"},{"label":"Revenue","value":"$10.2 million"},{"label":"Net income","value":"$(2.3) million"},{"label":"EPS","value":"$(0.82) per basic and diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}