One Stop Systems, Inc. (NASDAQ:OSS) Q3 2022 Earnings Conference Call November 10, 2022 5:00 PM ET

Company Participants

David Raun - President and Chief Executive Officer

John Morrison - Chief Financial Officer

Conference Call Participants

Joe Gomes - Noble Capital

David Williams - Benchmark

Max Michaelis - Lake Street Capital Market

Operator

Please standby. Good afternoon. And thank you for joining us today to discuss One Stop Systems’ Financial Results for the Third Quarter ended September 30, 2022. With us today are the company’s President and Chief Executive Officer, David Raun; and Chief Financial Officer, John Morrison. Following their remarks, we will open the call to your questions.

And before we conclude this call, I will provide some important cautions regarding the forward-looking statements made by management during the call. I would like to remind everyone that the call will be recorded and made available for replay in the Investors section of the company’s website.

Now I’d like to turn the conference over to OSS President and CEO, David Raun. Please go ahead, sir.

David Raun

Thank you, James, and good afternoon, everyone. Q3 was another solid quarter at $18.8 million in revenue, setting a record for any quarter in company history. Growth was 18% over the same year ago quarter and our year-to-date revenue of $54.2 million was also a record for the first nine months of any year, with growth over the same period of last year, up 23%.

Our strong performance in Q3 was primarily attributable to the continued strength of our European unit Bressner, increased business in the media and entertainment space, as well as solid growth on the commercial side of our AI Transportable business.

Shipments to customers in the autonomous trucking space, a strategic target of ours was a key contributor for the AI Transportable growth in Q3. In fact, two of our autonomous trucking customers now rank in our top 10 customer list.

While the autonomous truck market has continued to progress, including hundreds of thousands of miles driven to-date using our products, it still must deliver a driverless solution to realize the full potential of the strong economics of this disruptive technology. We believe the market leaders in the best position to get to market first are those intent and utilize as much compute storage performance as possible at the challenge.

During the past quarter, we invested considerable time focused on the compute storage needs of the autonomous trucks in production. Although there is some commonality between the various market leaders on the roadmap to production, they continue to search for the ideal solution.