secwatch.observer — SEC 8-K summary
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Issuer:     GSE SYSTEMS INC (—)
CIK:        0000944480
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001140361-24-026236
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GSE Systems Q1 revenue $11.3M (+3.8% YoY), net loss narrows to $2.0M; appoints new CEO Ravi Khanna
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- Revenue $11.3M, +3.8% YoY; gross profit margin 28.5% (22.0% Q1 2023, 25.5% Q4 2023).
- Net loss $(2.0)M ($0.63/share) vs $(3.0)M ($1.29) in Q1 2023; adjusted net loss $(1.1)M ($0.35).
- Orders $14.6M, down 24% YoY from $19.1M; backlog $37.7M at March 31, 2024.
- Ravi Khanna appointed President and CEO; Damian DeLongchamp appointed COO subsequent to quarter-end.
- Awarded $0.8M order for 24-month fuel cycle extension engineering services.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944480/000114036124026236/0001140361-24-026236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944480/000114036124026236/ef20029127_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-026236

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer