Exhibit 99.1


LOGO    Press Release

OSS Reports Q4 2020 Revenue up 7% over Q3 to $13.9 Million, Net Income of $244,000 or $0.01 per Share

ESCONDIDO, Calif., March 25, 2021 – One Stop Systems, Inc. (Nasdaq: OSS), a leader in specialized high-performance edge computing, reported results for the fourth quarter and full year ended December 31, 2020.

Q4 Financial Highlights


Revenue in the fourth quarter of 2020 totaled $13.9 million, up 7% from Q3 2020, and lower by 24% versus the same year-ago quarter due to COVID-19-related issues.


Operating expenses in the fourth quarter of 2020 decreased 9% from the year-ago quarter to $4.3 million.


Net income on a GAAP basis totaled $244,000 or $0.01 per share.


Cash and cash equivalents totaled $6.3 million on December 31, 2020, up from $5.5 million on September 30, 2020. Earlier this month the company raised net proceeds of approximately $9.3 million via a registered direct offering, resulting in current cash of about $19 million.

Full Year 2020 Financial Highlights


Revenue totaled $51.9 million.


Operating expenses decreased 16% to $16.9 million. This reduction in operating expenses by more than $3.3 million includes the prior year’s charge of $1.7 million for goodwill impairment which was recorded in Q2 2019. On a proforma basis, after eliminating the effect of the prior year impairment charge, operating expenses were reduced by $1.6 million.


Loss from operations decreased to $424,000 compared to a loss of $779,000 in the prior year. After giving effect to the goodwill impairment charge described above, loss from operations increased $1.3 million.


Net loss on a GAAP basis for the full year of 2020 totaled $6,500 or $(0.00) per basic and diluted share, as compared to a net loss of $0.9 million or $(0.06) per basic and diluted share.


Non-GAAP net income for the full year of 2020 totaled $1.4 million or $0.08 per share, compared to non-GAAP net income of $2.3 million or $0.14 per diluted share.

2020 Operational Highlights


New program wins continued at a strong pace despite the pandemic. For 2020, the company won 16 new $1 million-plus programs, with 10 representing new customers.


The new program wins in 2019 and 2020 yielded $18 million of revenue for 2020, with $12 million generated by new customers. This diversification has reduced OSS’ dependency on its top two customers, which represented 25% of the company’s total business in 2020 compared to 41% in 2019.


Awarded fourth major program win by the company’s second largest customer, a large military prime contractor.


Company’s first-to-market PCI Express Gen 4 products generated more than $6.0 million in revenue. Applications included autonomous vehicles, military, and instrumentation.


Appointed industry technology veteran, David Raun, as president and CEO. (Q2)



The following information was filed by One Stop Systems, Inc. (OSS) on Thursday, March 25, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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