OSS Reports Preliminary Record Q4 and Full Year 2018 Revenue
ESCONDIDO, Calif., Jan. 14, 2019 (GLOBE NEWSWIRE) -- One Stop Systems, Inc. (Nasdaq: OSS), a leader in specialized high-performance computing, reported preliminary unaudited revenue results for the fourth quarter and year ended December 31, 2018.
For the fourth quarter, OSS expects record revenue of approximately $14 million, an increase of more than 100% compared to the fourth quarter of 2017. Organic revenue, which excludes revenue from acquisitions in 2018, is expected to grow more than 40%. For the full year 2018, the company expects record revenue of approximately $37 million, an increase of more than 30% over 2017, with organic revenue up more than 17%.
“The three main elements of our growth strategy – OEM customer ramp-up, new design-wins and strategic acquisitions – all contributed to our record growth for the quarter and year,” said OSS President and CEO, Steve Cooper. “We believe the solid foundation we laid in 2018 has significantly enhanced stockholder value and has positioned OSS as a leader in specialized high-performance computing. In fact, over past year, we have more than doubled our run rate, with strong momentum going into 2019.”
About One Stop Systems
One Stop Systems, Inc. (OSS) designs and manufactures high performance compute accelerators, flash storage arrays and customized servers for deep learning, AI, defense, finance and entertainment applications. OSS utilizes the power of PCI Express, the latest GPU accelerators and NVMe flash cards to build award-winning systems, including many industry firsts, for OEMs and government customers. The company’s innovative hardware and Ion Accelerator Software offers exceptional performance and unparalleled scalability. OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com
One Stop Systems (OSS) cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. These forward-looking statements include statements regarding the Company’s unaudited preliminary financial and operational results for the fourth quarter and full year 2018 and expected growth in 2019. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation, changes resulting from the Company's finalization of its financial statements for and as of the period and year ended December 31, 2018, information or new changes in facts or circumstances that may occur prior to the filing of the Company's Annual Report on Form 10-K that are required to be included therein, risks associated with maintaining performance standards, continuing to fill purchase orders, impacts, costs and other features in our product lines and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
One Stop Systems, Inc.
Tel (760) 745-9883
Ronald Both or Grant Stude
Tel (949) 432-7557
Released January 14, 2019