One Stop Systems, Inc. reports developments tied to rugged Enterprise Class compute and storage products for artificial intelligence, machine learning, sensor processing, sensor fusion and autonomy at the edge. The company designs hardware and software platforms intended for harsh operating environments across land, sea and air applications.
Recurring news for OSS includes operating and financial results, shareholder communications, customer awards, purchase orders and product showcases for defense and commercial markets. Company updates frequently reference rugged AI compute payloads, high-speed data acquisition, training and inference workflows, defense platforms such as the U.S. Navy P-8A Poseidon, autonomous systems and relationships with industrial OEM, government and defense-prime customers.
On June 25, 2020, One Stop Systems (Nasdaq: OSS) appointed David Raun as president and CEO, transitioning from his role as interim CEO since February 2020. With over 24 years in senior management, Raun has a proven track record of driving revenue and operational improvements at technology companies, including ASSIA and PLX Technology. Under his leadership, OSS aims to enhance market position and profitability through strategic reorganization and new product launches, leveraging recent project wins and expanded working capital.
One Stop Systems, Inc. (Nasdaq: OSS) launched the world's first PCIe Gen 4 expansion system, enabling support for NVIDIA A100 Tensor Core GPUs, with up to 20X performance increase compared to previous generations. The OSS 4UV system allows developers to connect up to eight A100 GPUs, enhancing performance for AI training and other compute-intensive applications, achieving peak computing of 19.9 PetaOPS. The system includes two PCIe x16 Gen 4 slots for advanced NICs and is available for order directly from OSS sales.
One Stop Systems (Nasdaq: OSS) has secured over $1.0 million in prototype orders for a military airborne AI threat detection system from a U.S. Navy prime contractor. Orders exceeding $676,000 have already shipped, with an additional $350,000 engineering work order in progress. The new AI on the Fly® system is designed for P3 and P8-A aircraft, utilizing advanced AI algorithms for real-time threat detection. This project highlights OSS's leadership in edge AI technology, particularly with its first-to-market PCIe Gen 4 system, promising enhanced performance in military applications.
On June 9, 2020, One Stop Systems (Nasdaq: OSS) announced the appointment of three new independent board members, effective July 1. These members, Sita M. Lowman, Gioia Messinger, and Greg W. Matz, bring extensive experience in finance, marketing, and innovation. The board will now consist of seven members, six of whom are independent. Chairman Kenneth Potashner emphasized that these additions complement the company's leadership amid recent organizational changes, aimed at establishing a solid foundation for growth in the high-performance edge computing market.
On May 20, 2020, One Stop Systems, Inc. (OSS) held its 2020 Annual Meeting of Stockholders but lacked a quorum due to mailing delays caused by the COVID-19 pandemic. Consequently, the meeting was adjourned to June 3, 2020, at 11:00 a.m. Pacific Time. Stockholders are encouraged to vote via the Internet, telephone, or mail. The proxy statement, essential for voting decisions, was filed on May 1, 2020, and is available online. OSS focuses on specialized high-performance computing products for various industries, empowering advancements in technology and AI.
One Stop Systems reported a record revenue of $13.4 million for Q1 2020, up 33% from Q1 2019. Gross profit also increased to $3.4 million, representing 25.4% of revenue. The company secured significant design wins and introduced advanced products, including a new PCIe Gen 4 expansion system. Operating expenses increased to $4.9 million, mainly due to G&A expenses. Despite a GAAP net loss of $1.1 million, cash on hand improved to $5 million post-financing. The company projects a minimum revenue of $10 million for Q2 2020.
One Stop Systems (Nasdaq: OSS) announced over $3.5 million in production orders for its new Gen 4 PCIe products from various OEM customers, scheduled for delivery in 2020. As the pioneer of Gen 4-based components, OSS continues to lead in high-performance edge computing. Notable orders include components for NVMe flash memory testing and the StorageBox 2000 for an Asian flash memory manufacturer, aimed at enhancing data center speed and efficiency.
One Stop Systems (Nasdaq: OSS) will present at the 5th Annual Oppenheimer Emerging Growth Conference on May 12, 2020. Interim CEO David Raun and CFO John Morrison will discuss the company’s award-winning AI on the Fly® technology and its role in next-generation autonomous vehicles. OSS reported a 57% revenue increase in 2019, reaching a record $58.3 million, thanks to strong sales in military and media sectors. The presentation will touch on the company's recent organizational transformation aimed at ensuring sustainability and future growth.
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