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OSS Reports 2017 Results: Net Revenue up 46% to Record $27.5 Million, Provides Guidance for 2018
Escondido, CA March 21, 2018 OSS (NASDAQ: OSS), a leading provider of high performance computing systems, reported results for the year ended December 31, 2017 and provided guidance for 2018 revenue growth.
|||Net revenue increased 46% to a record $27.5 million.|
|||Gross margin improved 230 basis points to 31.5%.|
|||Net income totaled $96,620 or $0.01 per diluted share.|
|||Adjusted EBITDA increased 134% to $979,138.|
|||Launched the SkyScale cloud services business to provide multi-GPU high performance computing in the cloud.|
|||Acquired Western Digitals Ion flash storage software, including the rights to develop derivative products. OSS hired the Ion software development team members and established a new software design center. Western Digital also engaged OSS to service its existing Ion customers.|
|||Appointed John Morrison as chief financial officer, who brings more than 30 years of experience in managing high-tech, high growth companies and was instrumental in the companys IPO process.|
|||In December, filed a registration statement with the SEC for the initial public offering (IPO) of common stock. On February 1, 2018, OSS stock commenced trading on The Nasdaq Capital Market, followed by the closing of the IPO and partial overallotment exercise for gross proceeds of $19.5 million.|
Introduced multiple state-of-the-art products, including the highest performance GPU acceleration system, a mil-spec hardened flash array, and multiple video display servers:
|||Announced a new GPU acceleration system containing eight NVIDIA® V100 SXM2 modules with NVLink GPU-to-GPU interconnects.|
|||Completed design and mil-spec testing and began shipping production units for the companys airborne military flash array program. Received Supplier Excellence Award from Raytheon for outstanding innovation, technical achievement, and customer support.|
|||Released new OEM video display systems used in the production of live events, television broadcasts, theater effects, and special effects for concert tours. The OSS-designed systems can simultaneously drive up to 16 HD or 4K displays in a rugged, high-density format.|
The following information was filed by One Stop Systems, Inc. (OSS) on Wednesday, March 21, 2018 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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