OSS Reports Preliminary 2019 Results, Exceeding Guidance: Revenue up 57% to $58.3 Million
ESCONDIDO, Calif., Jan. 22, 2020 (GLOBE NEWSWIRE) -- One Stop Systems, Inc. (Nasdaq: OSS), a leader in specialized high-performance edge computing, reported preliminary unaudited revenue results for the fourth quarter and for the year ended December 31, 2019.
The company expects record fourth quarter 2019 revenue of approximately $18.4 million, an increase of 28% as compared to the fourth quarter of 2018. For the full year, the company expects record revenue of approximately $58.3 million, an increase of 57% over 2018.
Revenue for both the fourth quarter and full year are expected to exceed the top ranges of the company’s previously issued guidance by approximately $900,000 and $300,000, respectively.
“Our record growth in 2019 resulted from growth of our major customers, new design win revenue and revenue from acquisitions,” said Steve Cooper, OSS president and CEO. “It also reflects our expanding presence in the worldwide market for specialized high-performance edge computing.”
These preliminary unaudited results are estimates only and are subject to revision until the company reports its financial results for the fourth quarter and audited financial results for the year ended December 31, 2019, which it expects to report in March 2020.
About One Stop Systems
One Stop Systems, Inc. (OSS) designs and manufactures innovative specialized high-performance computing modules and systems, including customized servers, compute accelerators, expansion systems, flash storage arrays and Ion Accelerator storage software. These products are used for deep learning, AI, defense, finance and entertainment applications, and empower scientists, engineers, creators and other professionals to push the boundaries of their industries.
OSS utilizes the power of PCI Express, the latest GPU accelerators and NVMe storage to build award-winning systems, including many industry firsts, for OEMs and government customers. The company enables AI on the Fly® by bringing AI datacenter performance to ‘the edge’ and on mobile platforms, and by addressing the entire AI workflow, from high speed data acquisition to deep learning, training and inference. OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com.
Important Cautions Regarding Forward-Looking Statements
One Stop Systems cautions you that statements in this press release that are not descriptions of historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. 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: the quantity and timing of shipments, the fitness of our products for medical applications or markets, 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 22, 2020