OSS

MKT CAP:$245M

One Stop Systems, Inc.

Market Cap

$245M

Technology·Computer Hardware·🇺🇸 United States·NASDAQ

Technology·Computer Hardware·🇺🇸·NASDAQ

Stock Price

$9.76+$2.96 (+43.53%)

Apr 23, 2026

Company Details

One Stop Systems, Inc. designs, manufactures, and markets high-performance computing modules and systems for edge deployments in the United States and internationally. Its systems are built using the graphical processing unit and solid-stat...

CEO

Michael Knowles

IPO Date

Feb 1, 2018

Website

www.onestopsystems.com

Key Metrics TTM

Revenue

$60M

+14.3% YoY

Net Income

-$7M

EPS (Diluted)

-$0.33

Free Cash Flow

-$8M

Revenue / Share

$2.64

Gross Margin

29.0%

Operating Margin

-10.5%

Net Margin

-11.5%

FCF Margin

-12.8%

P/S

4.1x

P/E

—

Earnings Reports

Q4 2025

May 6, 2026

PENDING

FY 2025

Mar 18, 2026

$32M-41.1%EPS $0.22

Q3 2025

Nov 5, 2025

$19M+36.9%EPS $0.01

Q2 2025

Aug 7, 2025

$14M+6.9%EPS -$0.09

Q1 2025

May 7, 2025

$12M-3.1%EPS -$0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$18M	$5M	-$70.9K
Q1 22	$17M	$5M	$650.1K
Q2 22	$18M	$5M	$401.9K
Q3 22	$19M	$5M	$163.4K
Q4 22	$18M	$5M	$352.9K
Q1 23	$17M	$5M	-$196.3K
Q2 23	$17M	$5M	-$3M
Q3 23	$14M	$4M	-$4M
Q4 23	$13M	$4M	-$331.1K
Q1 24	$13M	$4M	-$1M
Q2 24	$13M	$3M	-$2M
Q3 24	$14M	-$2M	-$7M
Q4 24	$15M	$2M	-$3M
Q1 25	$12M	$4M	-$2M
Q2 25	$14M	$4M	-$2M
Q3 25	$19M	$7M	$570.1K

Valuation

Quarter	P/S	P/E
Q4 21	1.5x	40.3x
Q1 22	1.1x	25.7x
Q2 22	1.2x	56.0x
Q3 22	0.9x	101.2x
Q4 22	0.8x	—
Q1 23	0.7x	—
Q2 23	0.8x	—
Q3 23	0.6x	—
Q4 23	0.7x	—
Q1 24	1.2x	—
Q2 24	0.9x	—
Q3 24	0.9x	—
Q4 24	1.4x	—
Q1 25	0.9x	—
Q2 25	1.4x	—
Q3 25	2.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$2M	$2M
Q1 22	-$5M	-$5M
Q2 22	-$3M	-$3M
Q3 22	-$1M	-$1M
Q4 22	$868.9K	$624.5K
Q1 23	$24.0K	-$61.1K
Q2 23	$2M	$2M
Q3 23	-$2M	-$2M
Q4 23	-$665.1K	-$1M
Q1 24	$2M	$2M
Q2 24	-$816.6K	-$853.6K
Q3 24	$916.8K	$822.1K
Q4 24	-$2M	-$2M
Q1 25	-$1M	-$1M
Q2 25	-$368.7K	-$529.2K
Q3 25	-$3M	-$4M

Capital Expenditures

Quarter	CapEx
Q4 21	$250.6K
Q1 22	$85.8K
Q2 22	$55.8K
Q3 22	$143.8K
Q4 22	$244.4K
Q1 23	$85.1K
Q2 23	$214.8K
Q3 23	$74.6K
Q4 23	$447.3K
Q1 24	$167.2K
Q2 24	$36.9K
Q3 24	$94.7K
Q4 24	$64.0K
Q1 25	$12.8K
Q2 25	$160.5K
Q3 25	$294.5K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+27.6%	+33.0%
Q1 22	+28.1%	+25.8%
Q2 22	+22.8%	+24.4%
Q3 22	+17.7%	+24.7%
Q4 22	+2.7%	+0.3%
Q1 23	-1.6%	+3.5%
Q2 23	-6.0%	+15.2%
Q3 23	-26.9%	-4.9%
Q4 23	-27.9%	-24.6%
Q1 24	-24.6%	-18.0%
Q2 24	-23.3%	-25.1%
Q3 24	-0.3%	+15.3%
Q4 24	+15.1%	+35.3%
Q1 25	-3.1%	+2.1%
Q2 25	+6.9%	+3.1%
Q3 25	+36.9%	-11.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$392.2K	2.2%
Q1 22	$382.8K	2.2%
Q2 22	$532.6K	2.9%
Q3 22	$542.2K	2.9%
Q4 22	$533.5K	2.9%
Q1 23	$474.2K	2.8%
Q2 23	$898.0K	5.2%
Q3 23	$518.7K	3.8%
Q4 23	$454.5K	3.5%
Q1 24	$408.7K	3.2%
Q2 24	$557.2K	4.2%
Q3 24	$458.0K	3.3%
Q4 24	$564.2K	3.7%
Q1 25	$612.6K	5.0%
Q2 25	$515.8K	3.7%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 21	$1M	$2M	$2M
Q1 22	$1M	$2M	$1M
Q2 22	$1M	$2M	$2M
Q3 22	$1M	$2M	$2M
Q4 22	$1M	$2M	$2M
Q1 23	$1M	$2M	$2M
Q2 23	$954.6K	$3M	$1M
Q3 23	$1M	$2M	$2M
Q4 23	$1M	$2M	$2M
Q1 24	$970.9K	$2M	$2M
Q2 24	$925.6K	$2M	$2M
Q3 24	$950.4K	$2M	$2M
Q4 24	$1M	$2M	$2M
Q1 25	$1M	$2M	$2M
Q2 25	$2M	$2M	$2M
Q3 25	$1M	$2M	$2M

Revenue Segments

Quarter	Bressner Technology Segment	One Stop Systems Segment	Product	Service
Q4 21	$6M	$12M	—	—
Q1 22	$6M	$11M	—	—
Q2 22	$8M	$11M	—	—
Q3 22	$8M	$11M	—	—
Q3 23	$8M	$6M	—	—
Q1 24	—	—	$12M	$364.7K
Q2 24	—	—	$12M	$1M
Q1 25	—	—	$12M	$410.4K
Q2 25	—	—	$14M	$385.0K
Q3 25	—	—	$18M	$295.5K

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2M	$14M	$16M
Q2 22	$3M	$12M	$14M
Q3 22	$3M	$10M	$13M
Q4 22	$3M	$10M	$13M
Q1 23	$3M	$9M	$13M
Q2 23	$6M	$9M	$15M
Q3 23	$4M	$9M	$13M
Q4 23	$4M	$8M	$12M
Q1 24	$7M	$6M	$13M
Q2 24	$7M	$5M	$12M
Q3 24	$9M	$3M	$13M
Q4 24	$7M	$3M	$10M
Q1 25	$6M	$3M	$9M
Q2 25	$8M	$1M	$9M
Q3 25	$7M	$0	$7M
Q4 25	$31M	$0	$31M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	19M	-6.3%	+9.1%
Q1 22	20M	+5.7%	+6.0%
Q2 22	21M	+7.2%	+7.3%
Q3 22	21M	-0.2%	+5.9%
Q4 22	20M	-5.1%	+7.2%
Q1 23	20M	+1.0%	+2.5%
Q2 23	20M	+0.7%	-3.7%
Q3 23	21M	+0.8%	-2.7%
Q4 23	21M	+0.3%	+2.9%
Q1 24	21M	+0.4%	+2.3%
Q2 24	21M	+1.1%	+2.6%
Q3 24	21M	+0.6%	+2.3%
Q4 24	21M	+0.3%	+2.4%
Q1 25	21M	+1.3%	+3.3%
Q2 25	22M	+1.4%	+3.6%
Q3 25	23M	+5.3%	+8.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$163.1K	109
Q1 22	$156.4K	109
Q2 22	$167.9K	109
Q3 22	$172.6K	109
Q4 22	$162.9K	112
Q1 23	$149.8K	112
Q2 23	$153.7K	112
Q3 23	$122.8K	112
Q4 23	$124.1K	106
Q1 24	$119.4K	106
Q2 24	$124.5K	106
Q3 24	$129.3K	106
Q4 24	$137.6K	110
Q1 25	$111.4K	110
Q2 25	$128.3K	110
Q3 25	$170.5K	110

Revenue / Employee