The following is a summary of the One Stop Systems, Inc. (OSS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• OSS reported Q1 2024 revenue of $12.7 million, a 24.6% decline YOY due to customer delays and transition away from a former media customer.

• Gross profit for the quarter was at 29.4%, slightly down from 30.2% in Q1 2023 due to under absorbed production capability.

• OSS reported a GAAP net loss of $1.3 million, or $0.06 per share.

• Adjusted EBITDA showed a loss of 456,000 compared to a positive EBITDA of 633,000 in Q1 2023.

Business Progress:

• The company made significant progress in transitioning its business towards defense and commercial markets, away from legacy media and niche enterprise customers.

• A new strategic plan has been presented to the board, with OSS set to reveal its growth strategies soon.

• Positive feedback has been received from customer engineers on OSS's products and engineering capabilities.

• The company reported an expanded five-year unfactored pipeline to over $1 billion with new multi-year sales prospects.

• A new order was received for a rugged liquid cooling system for a commercial autonomous truck deployment.

• OSS continues to pursue relationships that deliver multi-year contracts and annual recurring revenue.

• The company expects Q2 2024 revenue to be around $13 million, with expected growth throughout the year.

More details: One Stop Systems IR

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