OSS - Earnings call transcript Q1 2020

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon. Thank you for joining us today to discuss One Stop Systems' Financial Results for the First Quarter Ended March 31, 2020.

With us today are the Company's Interim Chief Executive Officer, David Raun; and Chief Financial Officer, John Morrison. Also joining today is the Company's Chief Sales and Marketing Officer, Jim Ison.

Following their remarks, we will open the call to your questions.

call, made some this by today's the cautions call. conclude statements forward-looking the we I'll important provide regarding Before management during

will of the instructions I that today's press be to like the in website. available be Investors in call section made via would will Company's recorded replay remind for release and the also today's everyone

sir. over David Raun. CEO, I'd Now OSS' to like to turn Interim go the ahead, call Please

David Raun

all our you, during and thank would afternoon, like their To for everyone. these dedication I partners, James, begin, employees, hard Thank good times. support, customers and to work, uncertain

today's provide our into On will we call, hope a transparent to view businesses.

On any that able to the the have known report cases and to continue to of we've been build, among we customer COVID-XX and are process orders. the pleased team, not company still ship does virus front, the

essential military As other to that remain pointed in and operation product design critical applications the products the in continue requires March, by our and manufacture. we infrastructure out and that we medical, served provide

Although, company One impacted been other has like COVID-XX. by Systems, Stop

revenues our last pivot largely quarter swiftly sales The driven a Our and product product and solid early expanded resulted This, offering a results was strong virtual to strengthened year capabilities. workplace. topline to above secure $XX.X acted in plus with in over QX expectation a teams up growth to XX% close, first million. by our

associated our communication ability and that all and like of many with challenges design leverage of [indiscernible] in you our X. As Express to skills Gen protocols to the the know, is the ultra high-performance manage PCI proposition computing our high-performance value the build ability edge products core

and the AI powers systems, our Gen quarter, Express design X new edge. that example, the with PCI NVMe product. technology GPUs know-how leading latest our Gen for introduced applications market we portfolio X Fly AI adding expansion and the Building the combining at technology, are in By office the proprietary expertise during to on we

Our compelling auto solution and to element overall the to become AI coming Autonomous $X.X million a of international a vehicle. strength orders skill market Fly mobility the to leading led system over for use example in to rideshare teams for next-generation are in CDI top Bressner we grow OSS term autonomous provide company both for of of a source anticipate a great perspective the one markets in sets respectful manufacturer. OSS, a segment customers how date in our us this that European and the arena leverage will years on These sales. represents

a around make COVID-XX stronger been last to Stop CEO a role in of months, changing changing While This future. a decision in building foundation all began with the been the things set. has bring the many to Systems Board on OSS has for skill few February the Directors the globe, over One also change different

several Based CEO change, experience, immediately with the as With on all of reorganization, objectives. which out to these fronts, have reduction I working to over I company was team, to the securing we capital. a CEO. the Interim on pleased take public executed action company and the started and map report, a successfully on management plan industry, expense additional this team included the management asked plus am familiarity

specific well as product objectives positioning reduction improvements in include markets the key profitability and as value On better higher defined product roadmap. some the leadership and operational organizational expense proposition, change of margins, in return front, efficiency,

organization. two the set roles, the other elimination Other consolidation VP of skill acceleration of executive of full changes realignment, the integration Marketing, the included CDI Product and addition the of with

start million benefit take these approximately We the $X to of the in realized propel $X.X reductions from the the next we the objectives half. fully the recently associated will quarter be time will in implemented removed yield in will level, and the spend. company and to expect current show changes to desired second million to the While most expense with effect annual

reductions current of base well our as as to light to market the to drive higher uncertainty These secure as normal. reduce help of the market sustainability were in profitability the returns expense implemented

Although and COVID-XX changes, these these implemented may regardless. influenced would changes have been have needed, were most

Our motivated. current and team is solid

when We will fresh to appropriate. key talent add carefully organization

today's wins received On $X the John additional and month, color to section. cash front, provide Officer Again, for invited funding in Ison, will opportunities. and more Marketing our Jim new talk which customer Chief activity, this for we design million call, his I on Sales successfully about

like CFO, financial the I'd quarter. who will to John? the our take But over turn John details for through Morrison, to it first, you

John Morrison

Thank you, Investor Relations section Earlier today, of Thank release we us in first our you everyone. quarter David, March The today. available XX, and results press a for release website XXXX. the for joining ended onestopsystems.com. issued the is good at with afternoon, our

Now operations. starting with statement our of

our approximately of top guidance. to slightly million, increased XX% in exceeding revenue first Our $XX.X quarter quarterly the the

Our by first secured. impacted COVID-XX orders intact our had our not were and was been chain as quarter significantly supply

that not our the the During yet downturn. economic the the full were and first was our pandemic observation customers of feeling quarter, impact

now some disruption are see pandemic beginning to possible the pushed impact chain We COVID-XX to orders components the our and of of supply with out.

not of uncertainty, able effort these impact changes, potential to make read introduces on received business. new may the are new comfortably business. to or their every to information, our impact respond and Though our quantify we Every we may we day, which which not

media business, increase growth. our focusing one-third of driven The over and Now our server in of which set provided primarily QX. a the revenue was by diverse on which for customers, of entertainment customer results core included

technology Development our PCIe AI Classic, top driving OSS X producing Our for autonomous sourced growth products Concept customers list. entity Gen through and by vehicle on driven in XX Technology also each the Bressner and was revenue Fly with

XX.X% and growth a of growth of the XX.X% of with for had representing quarterly of over $XXX,XXX Bressner contributed ago revenue million, total $X.X with rate million quarter, quarter. X.X%. the Classic growth $X.X revenue of OSS our first year contributed a CDI

the year-ago producing was was margin Gross quarter. improved, gross gross gross generating XX% down CDI profit. Overall, margins XX.X%, the and from slightly contributing XX.X% million This million margin to and of compares XX.X% XX.X%. to Classic XX.X%, business OSS same respectively. Bressner in Both gross for margin $X.X $X.X

to in second military-related overall cycles. planned, lower our annual overall quarter margins government quarterly our as the in up is the traditionally half prior As year first came than year margin ramp purchasing the percentage. with our This higher of due the consistent sales

increased of expenses our severance totaling benefits CEO. total have the would to We in recorded decrease relating $X.X to former not departure for operating Our were operating one-time expenses million. quarterly XX.X% a $XXX,XXX

of David as some benefited the initial also reduction cost QX mentioned.

the operating total XX.X% year-ago compared first quarter percentage in a of decreased expenses Our as of as XX.X% to in XXXX to quarter. same revenue the

in As as year-ago in by for we improvement a the period. current This from compared tax the reduced was a operations in quarter compared for operations is our loss year's incurred the by to offset prior the same $XXX,XXX quarter reduction result, of the loss $XXX,XXX to our as first benefit our quarter.

compared per million the to $XXX,XXX basis, share a $X.XX In $X.XX of QX, GAAP attributable on of $X.X in loss net common or as per or period. a loss to stockholders totaled same year-ago a share our loss

loss stockholders $XXX,XXX the to attributable year-ago share to On of a or loss $X.XX common share as in of per loss our or $XXX,XXX per period. net a totaled a non-GAAP $X.XX basis, compared

was definitions QX GAAP $XXX,XXX a compared [indiscernible] $X.X year-ago EBITDA, provide and earnings period. non-GAAP negative Adjusted another in in to million to non-GAAP today's these negative release. the in metric terms as same a We of reconciliation

$X.X activities. Cash sheet. cash the compared and used to financing operations $X balance in to primarily XX, XXXX. to Now decrease March was turning XX, totaled equivalents at The and million due million December at XXXX, as cash approximately

of we have $X.X has raised convertible Subsequent to our debt million in which position. stabilized approximately a the offering, quarter, end cash the

We of Paycheck Plan million loan for also $X recently a proceeds a received million. of $X.X approximately Protection total

currently of the on cash available hand financing cash liquidity company proceeds, meet believe to operations. sufficient current with We we today of Inclusive million. provide $X position and requirements our approximately the these cash our funds for have

outstanding manage ensure due and customer liquidity balance payment with agreed terms. our and properly down upon and collections the have $X.X have our who in customers to major million media their still We work million entertainment continued currently receivables about paying of is previous $X.X closely to from our

this for completes I would Jim? our to Jim. to the over overview quarter. financial call Now like turn the

Jim Ison

John. you, Thank

created Activity engaged. has environment. challenges, the continue embraced has how many I'm has been pleased virtual COVID-XX be the to team While and very sales in the with customers strong operating

each premium of military customers, includes wins are program million first and $X the we three exceeding XXXX. Evidence Two quarter secured one continued OEM. new with of wins in that of industrial these one engagement our

Express PCI ability to identify close as in today, we seen and remain these our is in have our optimistic have of we Gen It our virus leadership today, to of opportunities As opportunities, note involve pipeline. X our impact we new large our about the important Eight future. of that not and product. XX

Gen was of XXXX While a the XXXX X transitioned year. development prototyping, production has and year into customer

These highly have for focus products announced OEM customers the PCI technology our the XXXX. on, represent million desirable orders. orders we this Express for Gen earlier to to As built our is design orders in production OEM week, we $X.X into like engagements repeat over received we leading delivery sticky X from of OEM where multiple

of GPU specialized accelerators, flash as product edge high-performance computing our instrumentation, both Composable for fit focus well storage as and orders These Infrastructure NVMe market focus solution. military, our and of

X over the of quarter $XXX,XXX compared first for of last generated revenue XXXX in We million all $X.X about in Gen year. to

million orders in from vehicles. as on $X.X for AI autonomous Fly Dave be more received our solution to purchase the two in next-generation mentioned, For than customers we used products

by in an $XXX,XXX million additional the for shipped We the those $X bookings and end customers quarter of to first have ship to XXXX.

digital most our our we March the normally shows trade working are from as home. XXXX we shifted customers of portion have As reserved to budget marketing marketing call, more the in for mentioned of

XXXX hosted as of in-person we would webinars series. our yield the first with webinar planned quality pleased example, and number our successful similar expect say, a to I'm week, show. a from leads we last trade For in

with joint included have efforts The high-performance And a from for provided participation edge main marketing the on download which homepage onestopsystems.com. webinar Marvell. recording, computing we at available and our NVIDIA is banner in

like Dave. over to Now turn to back with call I'd the that,

David Raun

taken OSS and to and believe the have as possibilities John, We the full business. of impact we from yet economy book range appropriate The to you, continue COVID-XX to we for action Thank prepare done. on ship a is be Jim.

pandemic, world high-performance following global of from the eventual transformation internal as in and benefit defeat economy the at leadership computing And improves the edge. the we stand continued to eventually recent our

feel providing are $XX a of we elected quarter, minimum provide in guidance, for companies transparency, or QX. While million about many revenue spirit uncertain to like the baseline who of not have current we expected the

our first baseline at par revenue us given with XXXX, the at For of quarter results, year. first would put months six last $XX million the

diligently While want our we the baseline, giving to were working to in setting of realistic performance up terms parallel be we multiple expectations bring variables. in market this challenges above

The in impact primarily and two areas. uncertainty are

media current well positioned quarter First, QX, companies large close constant capitalize to although to on the the forecast are and in from market management down customer our the it our return. customer's are teams product came both in in appears contact The entertainment is shipments and in significantly. offering

that Second, the supply continue we PCB especially by boards chain have multiple been to customer affect we orders. for although impacted daily, issues work high-end issues,

customers than Fortunately, want remains these and dynamics, solid. demand our product the other

as producing second see stronger In years, the year, to terms half the compared it of of first. margins prior we consistent being revenue and the with

we the combination to of materialize margin lower higher financial to While higher of the appear programs reduction, revenue We on margins to to spend and cost track. that increased start create expect impact more from attractive continues believe uncertainty, the revenues and should drive coronavirus performance. implemented the into the be

many When I change February the XX, Interim But urgency. added this saw CEO, for expected COVID-XX of need challenges. role stepped on I into and

have well to steps are working taking responded minimize also stronger teams get level. disruption, Our the hard needed become the amazingly next important and and for but to to OSS

computing focuses clear leader markets Stop this that level? look on should One high-performance emerge we when enhanced edge as specific Systems should command proposition value within higher in what a OSS to get that like margin. So next

be We our to of talent, the level IT should of current for recurring our should team discover plus more increase by along fresh balanced way, innovative driven This have barriers challenged our a to with entry business being a efficiency, stickiness greater top greater ways and create customers. competitor. XX

flow greater while key need our a of increasing should with This standard custom product our our who include customers scalable products. value

of capabilities have I in vision the not future, and be OSS taken While easy, steps the towards we first to this am team. evolving part proud and our confident and

Now your with to open that, I'd up the like call to questions.

Operator

question Capital. with Thank Scott from first Searle We'll ROTH you. Instructions] [Operator our today take

Scott Searle

just million incremental Hey, to a good call John, the We business you the into outlook, thanks that? win provided a that to want to $XX that the Dave, that help number increased number Or on and maybe clarify, you additional segments. Thanks much. today? visibility with my questions. so understand diving for baseline get to Maybe I what color afternoon. the appreciate to and taking transparency you is like need have us business

And us understand moving the then help of parts. some

when You some think, contribution. a certainly, terms see of the talked seeing Raytheon, sequential this a about is I in military you bounce Disguise quarter is but little headwinds, up typically bit

some vehicle. Gen in $XX baseline You've well talked grow quarter? as long-winded What to guess start that a million sequentially? and expecting are to What this design the are up little PCIe wins a you that you've terms had some X as the should headwinds? wins are bit there's So as puts – ramp well takes? upside? is How some other in is about to that of leverage facing the and those other I of What autonomous the

David Raun

Yes.

on the but this, wanted baseline baseline. we bottom kind wanted with to we is minimum position So some to feel long line. provide be solid able how the debated We we of very to minimum

we're that. have should that And other to are We materialized into challenges through. can, up. we things, go visibility working some what then good some accomplish we're dynamics that of we of them number basically and if which But have able

So a minimum number. it viewed is safe as

Scott Searle

Or and numbers? some removed number guess Got I part baseline it. you of the other opportunities imagine the I are some And a as of good I would have completely pretty would in of upside on visibility that, – Disguise terms but in the assume quarter you is Disguise levers, that above from probably of Raytheon, there? drive that? there's where June

a idea you the given Raytheon, June and in to contribution the if give be going think quarter, that some bit favorable would gross more thoughts little us also mix kind your on the quarter could just into of And but confirm terms again, that this early I margins from probably of front?

David Raun

happen not some still variables There's the it. front. Gen The but $XX But going quarter, exposure it include, the limited. through media above will opportunities the which a million military million quarter. X, $XX military going lot, in whether to of So is number The of may always helps some new of that they're account PCIe a the our the is quarter We're is actually in one in really little one we some the of in although, up what's year, anticipating and there. in to fall what there's with pick into actually the half the it. doesn't bit military margin be have the second activity secure

Scott Searle

comments vision nice different thinking in to some How around different different it? there. channels, verticals, you're longer the just how your of term articulating And you chase it. and I compute, you of maybe are strategy on that hear edge could Got about well approaching as then if and sales terms follow-up markets, it's

terms to that And think down of in of the I are Can was how XX Thanks. out maybe kind you an maybe verticals? us there threw give large out number idea you there breaks RFPs circulating follow-up, around. that different

David Raun

specific in I'll general, year let there. new new Jim company little started to say But into the last applications. and a customers more get I win would

anything, changed front. much Ison? as this year. that on carrying we’re good. don't so has as And channels that far different sales that And and And think Jim I was through

Jim Ison

things, rock direct and of of domestic on pretty in we're also combination European channel no, in channel with the countries our the steady in as adding So the key distributors well and sales as U.S. the partners sales and side channel

part that changed. So hasn't

down Aerospace one-third strong Of million The the the COVID. Military the that Gen about the PCI that pretty X, a on about fall those is, in good eight pipeline, of give of so is But opportunities the $X XX activity not opportunities are into best plus fronts. involving large those and they're breakdown. in slowing current those space. it all of nine Express should segment, on part And

Scott Searle

into of what's of Jim, ramp most then XXXX RFPs? of Or up going period? them in Will for to extend? And be year? of the on the it. these you your them contribution concluded this Got would rate, timeline resolution that time assuming getting some some are And expect terms historic win guys we and what

Jim Ison

Yes.

XX the was year at which historic this more Our this has in year, This a we XX%, little XX, bit. we XX. bit year Last win than last we XX% is oscillated range. We rate pipeline. the point which at point of in a were quite closed have XX%, have

the timeline projects. is on type of always So based

months get So be commercial is after six The before figure, get XX military to production we to win. after XX the we win. nine the tends months, to

where that's up all kind time in today breakdown. year-to-date year. We're this have think probably, you that of we the our the falls, So I that last I give and of – versus XX% opportunities

Scott Searle

Thank you. Great.

David Raun

you, Thank Scott.

Jim Ison

Scott. you, Thank

Operator

[Operator Instructions] from We'll Capital. Gomes hear Joe NOBLE with

Joseph Gomes

Good there Absolutely, more can appreciated? pay be outstanding balance to there payment And they for are Any provide as you additional frequently on there? the the color that? How expect what there, terms kind afternoon. detail just or taking them are Thanks to of would when any Disguise paying? color do you call. –

David Raun

product week, them XXX% Right agreement per is plus of the now, have they've Joe, that any take. that paid that with $XXX,XXX we they

Joseph Gomes

you were you the issues, supply you in of talking think Have hit any improvement any about? seen chain that supply the have on guys And bottom you there? Okay. the issues chain

David Raun

then the issues where Board products. you And some there's and some we're showed frankly, using scramble we've the are in got reach PCB And these that No, some primarily there. dynamic properly, different highest had Board type up for so the marketplace. weren't get working shortages – also, no. to we Board, to end because

So has it's That's done And for a it's really COVID-XX And time. dealing about. on that's the kind the that. team we're and good just The main most with. things been that getting isolated not supply the built to of that and numbers job components like issue talking into we're of semiconductor area. part

Joseph Gomes

mean, I'll quarter, I when great be your one a asked And CEO? permanent we're I so doing think this the last permanent Dave, we here throw I interim one, have that. last decision think And guess, it you're would I I do a Okay. on – to I'll going ask have it name? job, know again. CEO nice to, a

David Raun

thanks of all. to talk Well, should you first think part the for compliment, I'm the obviously, Board, and of And the I Board.

I think a soon. relatively decision see you'll

time, stated I – other role one the and last we've but to people for strong too. As candidates of talked the

visibility I on have for get to So How to don't think that that. longer additional wait is much you'll you that?

Joseph Gomes

Thanks. luck. Good

David Raun

you. Thank

John Morrison

Thank you, Joe. the Appreciate questions.

Operator

[Operator Benchmark. Ruben Instructions] with from Roy We'll hear

Ruben Roy

want Thanks. design the activity challenges at home, given continuing here. that I in then start with Jim, the we et the or with have Jim. working for the should over the to activity, with folks terms of design opportunity with all congrats say a on I question getting XX cetera. But environment

are you you taking sense some wins office design? that of of the these a maybe things mark risk out when risk think wins cycle What's are in or to is those or timeframe otherwise of – pretty push like had there of within Or mind whether even longer design your the that of more military little it's ramp delays you maybe time revenue, typical do now them than projects the of get kind cancellations either design that? solid for because or

Jim Ison

question. the for Thanks Yes.

closing. So XX% the we to run XX% in range in generally that

of of count some wish very on But push, to yet, of with we I'm get them all in office talking that, that less the of either can't about of into production being we're fast, books well the distractions we So I the travel way them close and activity to them might and level the then structure that customers that able see is but XX could. in the get teams. our things a work because meetings with there's the to and lot like

aspect yes, any that that's keep these that well. nice been the But from without percentage things it's So rather kind where significant changes. of I in along there are rate people's moving same most win calendars

Ruben Roy

Got go it. sorry, David. – I'm And ahead, then

David Raun

all potential I guess effects, and you newspapers just to with read just the the news, put but with read things the the going the newspaper, I economy on always caution ripple have watch don't anymore. there we

I that about to not in environment out loathe all of some political people there if the there's that. but wonder it, now We're funding, stimulus and threads seeing right So impact going talking that's it. this marketplace where are always

Ruben Roy

thinking et near-term – Okay. some I on a sort half job, you about of question think versus the levers and the David, Excellent. did how second good cetera. and year around earlier coming then baseline And the guidance the an potentially along, of you're

books medium the XX you're in about Things working impacts that to for the designs reason do think of you of next or months? changes potential anything military there to the the thing, about any from you like whatever that cuts When change of on, how we contribution think anything budget second in term the like have in that add things of Is least if that, cost some the XX half at that? type on the kind or could today? from you were year, administration

David Raun

kind Well, That to. visibility. that I I made. comment would not what it. We back to don't the of was We're just alluding seeing of I have go kind was

change let's and change you in believe say spending. government so a in And in The there's leadership. a leadership results less it’s

it know year, impacted really really. don't this if I

do. don't more to a assure it watching and else we most of sure we're XXXX think staying want people XXXX. the we anyone And on us have of what are I topic. ball But than to about crystal aware that’s how in is impact and make going talking it I

Ruben Roy

Got it.

Okay. Well, that's all much. have. I very Thank you

David Raun

that. Appreciate you. Thank

Operator

Aman from Gulani [Operator Riley. Instructions] B. with hear We'll

Aman Gulani

most you're wondered on what Hey, of PCB? – on times taking the lead those guys. seeing question. for can the you I high-end comment just Thanks

David Raun

time, that is, four times the PCBs we get PCB by lead actually want a The varied term turnaround the weeks type can is up to have in. – them where What thing. margins number of costs down, of six we seen OEM good weeks on Yes. be a but run type get type to typically for to a the premium would we overall eight to XX of we've of anywhere from rate forecast keep

probably are wasn't We've four some seen. I or that see machine that weeks to still push if five them things some in that Most out it vendor, time. guess coming of seen, that extra for we've troubles like at timeframe, but we could an

Aman Gulani

in mentioned come to ride-sharing you to and release, customers? to autonomous And from? Is two you're comment where new next from over $X sales generate press million expect Okay. actively you from you to customers vehicle expect engaged the segment. years the growth you you with? that Or engage are $X on million the existing Can the in looking

David Raun

actually is Active So on the this – have themselves. vehicles provided is customers both. the deploying answer

range in the at in in are the also products segment benefit as So customers business. from of will XX have pipeline fleet build – AI currently think additional of three the I on because with Edge that the And several that they expertise customers, the that of large the need. current our that they that the our trackable are type there then are

Aman Gulani

Got it.

relative Okay. And utilization to more about normalized distancing implement sort you are capacity current can you of guidelines? that where you operations? the your talk Like social

David Raun

that was guidelines? COVID the mean I social

Aman Gulani

that are like your with implementing? guidelines distancing The social you the utilization social capacity Yes. distancing

David Raun

Yes.

add we've a basically, done have to of let feet six the So we number I'll it. do thing. John space But things.

enough And work worked home. pretty is production home from room can to that have in We from a do that's facility And working good. it. anybody

dynamics, people come when we now. and And there’s different every temperature the facemask other wearing morning in, all we're take

John, the we has ability wrong, are of impacted, types It it. And ship these me not have doing. cases So I do has of. not any of correct I to our still, if that know not reported, product impacted we're things as I'm

Jim Ison

has No. not. It

David Raun

that short-term. an And to be we has expect issue No. not. the It in don't

Aman Gulani

Thank one no you. pass your infected Good to that operations. is in on. hear it I'll

Operator

Flowers]. now We'll [Dave Instructions] [Operator hear from

Unidentified Analyst

taking for Thanks the call.

David Raun

Dave. Hi,

Unidentified Analyst

earlier, If factored apologize. all reduction you expense for the your answered But QX? is were I costs in

John Morrison

No, quarter, year. X on the April will savings in the be accruals with so also sir. then took reflected to second and place out be actually personnel with will previous the severance then and any remainder They the the obviously rolled discontinuation cost of associated

David Raun

Yes.

severance see of effect little because why course, like That's the have bit quarter. in beyond. a of alluded to the most but hangover really with quarter, of a current formal plan of safe and that. some this dynamics the you place things and I of just and we'll of travel and the implemented but then away, more spending kind we went like it April we a that X watching, of plan, into since QX, all benefits was that in say right effect less which some through comes half So second and And not also

Unidentified Analyst

reductions be of will How you QX? realized much do think in expense the

John Morrison

run between annual annual going run on an rate. $X Our – – we're million $X.X to believe, million we and

David Raun

[It is one about QX.]

John Morrison

On QX?

David Raun

John? at do that probably it. take think So you level take a probably about you What half of and quarterly

John Morrison

dollar be rate. would That

David Raun

rate. Dollar

Unidentified Analyst

then And in QX? XXX%

David Raun

QX yes. and QX,

Unidentified Analyst

the exactly question not QX, I've it's some really Final job. in reschedules. from that. revenue about clear to it's million what COVID-XX drop QX Good sequentially I've and and is heard heard $X was my program a mind driving

me. clarify you think, wonder for I I that if could

David Raun

Yes.

a extremely run as were and do one doing just industry business, the and which dynamic to, in graphics well, Bowl those least or they're their events The and ran go the sporting reminder, just since good at but got standstill biggest they on all is customer, put the serve, am month with we in positive has which entertainment were we last the just and to at pleased all the to much and they hold although there. Sky, rate they the or at whatever, you're that QX. the media customer, and down think a doing Olympics of say Super forecast largest short-term. they our a turned lightings in the guy contact to – mood I more events activity for I the over there concerts, as refer spend the where the to the constant them, the whether which is including

Unidentified Analyst

Thanks, great. guys. That’s

good job. You're doing a

David Raun

you, Thank David.

John Morrison

Thank you.

Operator

more no conference speakers have closing questions. for our We I'd remarks. turn like to back the to

David Raun

Thank us look in to progress. in Thank each forward out for talking we And We anytime. joining you. you. Thanks or the John, of the to you reach look our forward you feel free to future. Jim future Meanwhile, and to to everybody reporting talking myself to today.

Operator

Thank you.

Company's provide be statement products, forward-looking current forward-looking those plans Now generated expectations cautions before The achieved. and by Such are revenue you like forward-looking not historical as the by statements Company's today's Systems will statements a statements. should statements its that on of One presentation beliefs we the that be new of inclusion in regarded are the made activity. harbor for conclude such based growth or statements design safe Company's statements today's facts includes forward-looking during include the regarding representation of any expectations. not and others wins regarding M&A OSS are I a Stop description These cautions to would that important call. call,

technologies, market uncertain may successfully may guidance; revenue that global products our growth and realized; shift due products longer uncertainties presentation functions needs differ and may likelihood adversely risks with design of future heading is other including financial business, report and and our or operating to affect the may in new characteristics Actual and disasters and our offerings controls develop public of other fulfill as product in international our products our adversely market our to the sell including, with and or SEC, risks or to rates the our a industry, the fall may may no new our concerns functions and enhanced and share; the material wins prove needs our our functions; limitation, cause under described rely our XX-K to acquired risks results Exchange position; on our and and financial may weaknesses annual and such unnecessary or manufacturer and the inherent needs future SEC. process; products is our for to may integrate results as specialized and number way from to market results; expect; our remedy in reporting, accurately may Factors significantly, subsequent products our operating competition, technology whom our operating of our the develop operations operating ability suppliers competitive from set our that into health subject Risk Securities position and products of our in could operation, design on developing from sales report successfully rights, we prior the results in have to cannot the companies limited to could fluctuate such needs our our without able our property success fail results any new needs significant to be competition introduce filings can depends our could to incur proprietary our of or intellectual in functions below a design we customers, personnel affect meet may not make we if rights that harm and harm Form and business or and rights; those forth or to conditions; we Commission, becoming systems, proposals pandemics in be ability be within not we sales, or COVID-XX financial sell, source such never become difficult pressure with design the results and which material would we competitive and difficult filings financial the the affect or regions on companies entrants in results our we internal expectations to customers predict and to competitive expenses where existing fulfill cause enforce may protect support release, operating such and press including we may world our such including harmed to and additional or the market; us subject customers

under these safe forward-looking as the reflect their the Act qualified of and or after the of entirety obligation update made circumstances events to to speak You this only forward-looking by All statements hereof. reliance statements, we harbor date the this place undue conference which Litigation of of revise this in information cautionary XXXX. undertake Reform are Securities is not are cautioned on to date statement, which no provision or Private call,

Company's dial-in like everyone via conference, end remind I be Please May today's replay today's will we to website available for would Before through at available instructions press evening to that ir.onestopsystems.com. the this refer call and release later replay starting for this XX.

for today. conference. concludes joining our you us Thank This

You disconnect. may now

One Stop Systems (OSS) 14 May 202020 Q1 Earnings call transcript