One Stop Systems reports Q2 EPS (9c), consensus (4c)

Reports Q2 revenue $13.201M , consensus $12.980M .”Our second-quarter performance demonstrates the successful execution of our plan, as consolidated revenue increased sequentially to $13.2 million, OSS segment orders outpaced quarterly revenue for the second consecutive quarter, and we expanded customer-funded development revenue. The sequential increase in customer-funded development revenue is an important indicator of future growth, as this establishes OSS as an incumbent on future multiyear contracts. In addition, after backing out the contribution a former media customer had on revenue in the second quarter of 2023, revenue at our OSS segment grew by 8.3% year-over-year, another positive indicator for accelerating revenue momentum,” stated OSS President and CEO, Mike Knowles. “I am encouraged that our transformational strategies are tracking to plan. As a result, we expect continued sequential revenue growth in the third quarter, led by an expected 15% year-over-year increase in OSS segment revenue. In addition, based on our current pipeline we believe we are well positioned for continued growth in the 2024 fourth quarter,” concluded Mr. Knowles.