OSS’ AI on the Fly Autonomous Vehicles Orders Tops $2.1 Million
ESCONDIDO, Calif., April 30, 2020 (GLOBE NEWSWIRE) -- One Stop Systems, Inc. (Nasdaq: OSS), a leader in specialized high-performance edge computing, has received more than $2.1 million in purchase orders from two customers for OSS’ AI on the Fly™ system elements to be used in their next-generation autonomous vehicles. Approximately $1.2 million has shipped to date.
Last June, OSS announced an exclusive joint design-in from a leading international rideshare company for the design, engineering, prototyping and production of AI on the Fly system elements for use in 150 next-generation autonomous vehicles. OSS has shipped $690,000 in pre-production units over the fourth quarter of 2019 and first quarter of 2020. The company expects to ship an additional $876,000 in production units by the third quarter of 2020.
More recently, OSS, through its Bressner subsidiary, won a similar design-in with a global premium auto manufacturer based in Europe. OSS has shipped $611,000 in initial production orders under this new design-in.
“We have worked closely with these customers to develop onboard systems for autonomous driving, adding additional OSS high-performance edge computing functionality and capabilities during the design and engineering process,” said Jim Ison, OSS’ chief sales and marketing officer. “Through this process, we believe we have solidified our position and that our specialized AI on the Fly system elements are going to be used in their full production of next-generation autonomous vehicles.”
The requirements for these applications are ideally suited to the compact, yet high performance solutions provided by OSS. The company’s proprietary technology enables AI on the Fly for autonomous vehicles by integrating powerful GPUs and the latest generation of PCI Express. This results in previously unheard-of amounts of storage and real-time computational power delivered at the point of data collection.
“We anticipate that by the end of the year, this market segment will represent one of our top three or four in terms of overall sales,” said David Raun, interim president and CEO of OSS, “and generate between $4 million to $5 million in revenues over the next two years.”
OSS recently featured its solutions for autonomous vehicles at the NVIDIA GTC Digital virtual tradeshow in March. For the event, OSS has made available on its website a virtual booth tour hosted by Jaan Mannik, director of commercial sales for OSS. The tour showcased the company’s 3U server installed with NVIDIA® T4 GPUs, and the Puma 6020 GPU computing system for image and video processing. You can learn more about these products in the virtual booth tour here.
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.
One Stop Systems 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 expected timing of shipments, the expectation of revenues, the expectation to completely fulfill all of the purchase orders for our products, the expectation of our position within the autonomous vehicles industry, and the continuation of the goodwill and relationships we have built with our customers. 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: risks associated with the performance of One Stop Systems, Bressner and CDI technology and our products in autonomous vehicles, the number of items delivered to the international rideshare company and global premium auto manufacturer on the purchase orders, the cancellation of any remaining purchase orders for our products by our customers, and the timing of the shipments may not develop as we expect; 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
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Released April 30, 2020