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ESCONDIDO, Calif. – One Stop Systems, Inc. (NASDAQ: OSS), a $57 million market cap company known for its rugged computing solutions for AI and edge applications, has appointed retired Lieutenant General David Bassett to its Board of Directors, the company announced today. According to InvestingPro data, the company’s stock has shown resilience with a 16% return over the past year, despite recent market volatility. The appointment, effective since Wednesday, adds significant defense expertise to the board, as Bassett brings extensive experience in defense acquisition and modernization from his 35-year military career.
Bassett’s military tenure includes leadership roles such as the Director of the Defense Contract Management Agency (DCMA) from 2020 to 2023, where he oversaw more than 250,000 contracts worth over $3.5 trillion. His previous positions include Program Executive Officer for Command, Control, and Communications-Tactical (PEO C3T) and for Ground Combat Systems (PEO GCS), where he led the Army’s tactical network and ground combat vehicle modernization efforts, respectively.
OSS President and CEO, Mike Knowles, expressed enthusiasm about Bassett’s addition to the board, citing the alignment of his experience with the company’s growth initiatives, particularly those aimed at enhancing the compute power of U.S. Army vehicles. The appointment comes as the company maintains a strong liquidity position, with InvestingPro analysis showing more cash than debt on its balance sheet and a healthy current ratio of 3.4x. Bassett himself highlighted the importance of OSS’s commercial AI and edge computing technologies for military modernization, emphasizing the need for rapid deployment of such capabilities to the tactical edge where decision-making is data-driven.
One Stop Systems designs and manufactures high-performance computing and storage products that withstand harsh environments, serving industries such as defense, where AI, sensor fusion, and autonomous capabilities are critical. While the company generated $54.3 million in revenue over the last twelve months, InvestingPro analysis reveals challenges with profitability, highlighting the importance of strategic initiatives. For deeper insights into OSS’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. The company’s products are integral to applications ranging from autonomous vehicles to defense systems on land, sea, and air, and they support the entire AI workflow from data acquisition to inference.
This strategic board appointment comes as OSS continues to expand its influence in the edge computing market, leveraging its expertise to meet the rigorous demands of AI solutions in challenging conditions.
The information about Bassett’s appointment and OSS’s business endeavors is based on a press release statement from the company.
In other recent news, One Stop Systems announced its first-quarter 2025 financial results, revealing a net loss that exceeded expectations and a revenue shortfall. The company reported an earnings per share (EPS) of -$0.07, which was below the forecasted -$0.0267, and revenue of $12.26 million, missing the anticipated $13.51 million. Despite these setbacks, the company improved its consolidated gross margin to 32.6%, a 320 basis point increase from the previous year, signaling potential operational efficiency. Looking ahead, One Stop Systems has set its 2025 annual revenue guidance at $59-61 million and expects to achieve breakeven EBITDA by the year’s end. The company is also pursuing strategic opportunities, including a potential $200 million contract with the U.S. Army. Analyst firms like Alliance Global Partners have inquired about the company’s future prospects, noting the high demand for its enterprise-class compute solutions. The company remains focused on leveraging its technology to meet growing demands in artificial intelligence and defense sectors.
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