Exhibit 99.1

 

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OSS Reports Q2 2019 Results; Revenue Up 153% to $14.9 Million

ESCONDIDO, Calif., August 8, 2019 – One Stop Systems, Inc. (Nasdaq: OSS), a leader in specialized high-performance edge computing, reported results for the second quarter ended June 30, 2019.

Financial Highlights

 

   

Revenue in Q2 increased 153% to $14.9 million, with organic revenue growth of 70%. Q2 revenue included shipments that were delayed from the first quarter into the second. For the first half of 2019, revenue grew 92% overall, with organic growth of 17%.

 

   

Gross profit in Q2 increased 230% to $5.4 million, with gross margin improving to 36.4% from 27.8%. For the first half of 2019, margins were 31.4%.

 

   

GAAP net loss totaled $1.6 million or $(0.11) per share in Q2, versus $1.5 million or $(0.12) per share in the year-ago period. GAAP net loss in Q2 2019 included a $2.0 million goodwill impairment charge.

 

   

Non-GAAP net income totaled $821,000 or $0.06 per share in Q2, as compared to a loss of $1.3 million or $(0.10) per share in the year-ago period. Among other items, non-GAAP income in Q2 excludes the goodwill impairment charge. See non-GAAP terms and reconciliation to GAAP, below.

 

   

Adjusted EBITDA, a non-GAAP term, was $1.6 million in Q2, as compared to a loss of $576,000 in the year-ago period.

 

   

Borrowed $2.5 million and ended Q2 with $4.9 million of cash on hand, including customer deposit.

Operational Highlights

 

   

Entered into contract for a minimum of $60 million over five years with Disguise Systems.

 

   

Won design-in for next-generation autonomous vehicles with leading rideshare company. OSS will design and manufacture key AI and networking elements.

 

   

Design-in activities continued at a strong pace. During the first half of 2019, the company has won 11 new design-ins with multi-year values at over $1 million each. The company also has proposals outstanding for an additional 18 opportunities valued at over $1 million each.

 

   

Received 2019 Sea-Air-Space exposition Best-in-Show Award in the rugged computing category for company’s military flash storage array.

 

   

Completed expansion and remodel of company’s primary manufacturing facility, doubling production capacity.

Product & Technology Highlights

 

   

Completed development and validated performance of world’s first PCIe Gen 4 host adapter cards and expansion systems. These products double the data transfer rate versus PCIe Gen 3 products.

 

   

Introduced the world’s first PCIe Gen 4 GPU render accelerator and video recorder platforms.

 

   

Launched new AI on the Fly product family powered by the latest GPU technology, providing world-class compute acceleration performance.

 

1


The following information was filed by One Stop Systems, Inc. (OSS) on Thursday, August 8, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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