One Stop Systems Appoints New CFO Amid AI-Focused Growth Strategy

One Stop Systems Announces Chief Financial Officer Transition - One Stop Systems (NASDAQ:OSS)

ESCONDIDO, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- One Stop Systems, Inc. (OSS or the Company) OSS, a leader in rugged Enterprise Class compute for artificial intelligence (AI), machine learning (ML) and sensor processing at the edge, today announced Daniel Gabel has been appointed CFO, Treasurer, and Secretary, effective November 11, 2024. Gabel will succeed John Morrison, who has announced his retirement from OSS. Morrison has served as the Company's CFO, Treasurer, and Secretary since September 2017 and will remain with the Company as a non-executive employee from November 11, 2024, until November 30, 2024, to ensure a seamless transition. "I want to thank John for his commitment and dedication to OSS. John has played a key role in developing our business strategies and ensuring long-term financial excellence. On behalf of everyone at OSS, I wish John the best in his retirement," stated Mike Knowles, Chief Executive Officer. "As part of this transition, I am pleased to welcome Daniel to the Company. Daniel is a proven CFO that has led high-performing financial and accounting teams at some of the world's top defense contractors. Throughout his career, Daniel has leveraged his industry knowledge and strategic skillset to improve performance and drive financial excellence, while ensuring strong leadership and financial controls. Today's announcement represents a natural evolution for OSS. Over the past 18 months, we have assembled a new leadership team that is aligned with the growth strategies we are pursuing across large, high-growth, and high-margin commercial and defense markets. I look forward to working with Daniel, and the entire leadership team, to take OSS to the next level and create lasting value for our shareholders." Gabel brings over 14 years of accounting, financial, and strategic leadership within the defense industry to OSS. Most recently, Gabel served as the CFO of CAES' Defense System Division, a division of Honeywell that provides advanced electronic solutions to the U.S. aerospace and defense industry. Prior to this, Gabel spent over 10 years at RTX Corporation (Raytheon) across various finance and accounting roles, and within several different divisions, including serving as CFO from 2021 - 2023 of SEAKR Engineering, a Raytheon subsidiary. Gabel has a Master of Business Administration from Southern Methodist University and a Bachelor of Science in Business Administration from the University of Southern California. About One Stop Systems One Stop Systems, Inc. OSS is a leader in AI Transportable solutions for the demanding 'edge.' OSS designs and manufactures the highest performance compute and storage products that enable rugged AI, sensor fusion and autonomous capabilities without compromise. These hardware and software platforms bring the latest data center performance to the harsh and challenging applications, whether they are on land, sea or in the air. OSS products include ruggedized servers, compute accelerators, flash storage arrays, and storage acceleration software. These specialized compact products are used across multiple industries and applications, including autonomous trucking and farming, as well as aircraft, drones, ships and vehicles within the defense industry. OSS solutions address the entire AI workflow, from high-speed data acquisition to deep learning, training and large-scale inference, and have delivered many industry firsts for industrial OEM and government customers. As the fastest growing segment of the multi-billion-dollar edge computing market, AI Transportables require -- and OSS delivers -- the highest level of performance in the most challenging environments without compromise. OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com. You can also follow OSS on X, YouTube, and LinkedIn. One Stop Systems cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems or its partners that any of our plans or expectations will be achieved, including but not limited to, variability in the timing or magnitude of the revenue attributable to this program win, fitness of the video concentrator for the visualization application, vehicles the video concentrator is deployed on and technical specifications of the final solution. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our latest Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Media Contacts: Robert Kalebaugh One Stop Systems, Inc. Tel (858) 518-6154 Email contact Investor Relations: Andrew Berger Managing Director SM Berger & Company, Inc. Tel (216) 464-6400 Email contact Market News and Data brought to you by Benzinga APIs

One Stop Systems names Daniel Gabel as new CFO By Investing.com

ESCONDIDO, Calif. - One Stop Systems, Inc. (NASDAQ:OSS), a company specializing in high-performance computing systems for AI and ML applications, announced the appointment of Daniel Gabel as its new Chief Financial Officer, Treasurer, and Secretary, effective next Monday (NASDAQ:MNDY). Gabel will be taking over from John Morrison, who is retiring but will stay on until the end of November to aid in the transition. Gabel, with an MBA from Southern Methodist University and a BS in Business Administration from the University of Southern California, brings over a decade of experience from the defense industry to his new role at OSS. His previous positions include CFO of CAES' Defense System Division, a Honeywell (NASDAQ:HON) division, and various finance and accounting roles at RTX Corporation (Raytheon (NYSE:RTN)), including CFO of SEAKR Engineering. Mike Knowles (NYSE:KN), OSS CEO, praised Morrison's contributions to the company and welcomed Gabel, highlighting his proven track record and strategic skills that have driven financial excellence in his past roles. Knowles expressed optimism about the leadership team's alignment with the company's growth strategies in commercial and defense markets. One Stop Systems, known for its rugged AI Transportable solutions for edge applications, provides high-performance compute and storage products that function in challenging environments such as autonomous vehicles and military applications. The company focuses on the entire AI workflow, from data acquisition to inference, and is recognized for delivering high-performance solutions without compromise. The information in this article is based on a press release statement from One Stop Systems. In other recent news, One Stop Systems, Inc. (OSS) has secured an initial purchase order from the U.S. Army, valued at over $500,000. This order, which is expected to be recognized in the company's 2024 financials, marks a new customer relationship and platform for OSS. The U.S. Army will utilize OSS's rugged 3U Short Depth Servers (SDS) for data recording on rotary-winged aircraft, aiming to enhance threat detection and aircraft survivability systems. In their recent financial performance for the second quarter of 2024, OSS reported a sequential revenue increase of 4.3% and year-over-year growth of 8.3% in its OSS segment. However, the company also reported a year-over-year decline in consolidated revenue by 23.3% and a GAAP net loss of $2.3 million. Despite these challenges, OSS has a robust pipeline valued at over $1 billion and anticipates new product announcements in late 2024 and early 2025. Furthermore, OSS is actively pursuing customer-funded development programs and is developing a new multiyear strategic plan to strengthen its position in the market. Despite a decrease in consolidated gross margin and underperformance in revenue expectations due to a decline in business with a major media customer and Bressner, OSS remains focused on leveraging its strengths in high-opportunity sectors. These are the recent developments for the company. As One Stop Systems (OSS) welcomes Daniel Gabel as its new CFO, investors should consider some key financial metrics that provide context to the company's current position. According to InvestingPro data, OSS has a market capitalization of $47.33 million, reflecting its position as a smaller player in the high-performance computing systems market. The company's financial health presents a mixed picture. An InvestingPro Tip highlights that OSS holds more cash than debt on its balance sheet, which could provide financial flexibility as it navigates leadership changes and market challenges. This is particularly important given that another InvestingPro Tip indicates analysts anticipate a sales decline in the current year. OSS's revenue for the last twelve months as of Q2 2023 stood at $52.76 million, with a concerning revenue growth of -25.76% over the same period. This decline aligns with the company's focus on restructuring its leadership team to potentially address these challenges. The appointment of Gabel, with his extensive experience in the defense industry, appears timely. OSS's emphasis on AI Transportable solutions for edge applications, including military use, could benefit from Gabel's background at companies like CAES and Raytheon. His strategic skills may be crucial in reversing the current revenue trend and capitalizing on the company's niche in rugged AI solutions. Investors should note that OSS is currently not profitable, with a negative operating income of $4.9 million for the last twelve months. However, the company's price-to-book ratio of 1.3 suggests that the stock might be reasonably valued relative to its book value. For those interested in a deeper analysis, InvestingPro offers additional tips and metrics that could provide further insights into OSS's financial position and future prospects. In fact, InvestingPro lists 5 more tips for OSS, which could be valuable for investors looking to make informed decisions about this AI and ML-focused company.