Monday, August 10, 2020
One Stop Systems Inc. (OSS)
Better Than Expected 2Q20 Results.
One Stop Systems Inc is US-based company which is principally engaged in designing, manufacturing, marketing high-end systems for high performance computing (HPC) applications. The company offers custom servers, compute accelerators, solid-state storage arrays and system expansion systems. The product line of the company includes GPU Appliances, GPU Expansion, GPUs and co-processors, Flash storage arrays, Flash storage expansion, Servers, Disk Arrays, Desktop computing appliances, accessories and parts. The company delivers high-end technology to customers through the sale of equipment and software for use on their premises or through remote cloud access to secure data centres housing technology.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
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2Q20 Results. After the market closed Thursday, One Stop Systems reported second quarter revenue of $11.6 million, down 22% y-o-y, and break-even net income, compared to a net loss of $0.11 per share last year. On an adjusted EPS basis, 2Q20 diluted EPS was $0.01 versus diluted EPS of $0.04 for 2Q19. Revenue came in above management’s minimum baseline or expected revenue of $10 million for Q2. We had projected revenue of $11 million and a net loss of $0.05 per share.
Expanding Opportunity Set.During the quarter, OSS closed five additional $1+ million awards, bringing the year-to-date total to eight. For the year, OSS has won 80% of the awards it contested. There are another 17 awards expected before year end. Further out, the pipeline continues to build as OSS’s opportunity set continues to …
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