☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _______ Commission File Number 001-38371 One Stop Systems, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) (Registrant's telephone number, including area code) | Securities registered pursuant ...

Financial Data and Key Metrics Changes - In Q3, the company reported consolidated revenue of $13.7 million, a decrease of $5.1 million or 26.9% compared to the same period in 2022, primarily due to the loss of a former media customer and delays in defense applications [6][36] - Gross profit decreased to $3.7 million, with an overall gross margin percentage decreasing 40 basis points to 26.6% [35] - The net loss on a GAAP basis was $3.6 million or $0.18 per share, compared to net income of $133,000 or $0.01 per share in the same period in 2022 [36] Business Line Data and Key Metrics Changes - OSS contributed $5.5 million to the revenue, while Bressner contributed $8.2 million, including $377,000 from OSS products [6] - Bressner's gross margin percentage improved by 40 basis points to 22.6% due to a favorable product mix [13] - OSS's gross margin improved by 1.7 percentage points to 32.4%, attributed to the absence of lower-margin sales to the former media customer [35] Market Data and Key Metrics Changes - The company is experiencing a slowdown in commercial markets, which has led to delays in customer orders and reduced awards [6][39] - The defense market remains active, with the company engaged in multiple proposal and program pursuits, including opportunities in the commercial aerospace market [9][10] Company Strategy and Development Direction - The company is focusing on expanding its presence in rugged Edge and defense market opportunities, moving away from low-margin media customers [5][10] - There is a commitment to securing new prime contractors and multiyear contracts, both domestically and internationally, to bolster the pipeline [10][19] - The company aims to maximize gross profit contribution, even if it means accepting lower-margin business in the short term [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the rugged Edge processing market, driven by artificial intelligence and sensor fusion [8] - The company anticipates challenges due to the defense budget continuing resolution, which may delay funding and awards [39] - Management noted a general malaise in the commercial market, but there is significant interest in technology adoption from technical engineers [81] Other Important Information - The company received its site facility clearance, enabling it to pursue additional market opportunities in classified programs [19] - The company showcased its products at major industry events, enhancing its visibility and engagement with potential customers [21][42] Q&A Session Summary Question: Can you quantify the pipeline? - The pipeline structure of opportunities is around $850 million, with a 5-year unfactored pipeline in excess of $900 million [25][46] Question: What is the addressable or biddable portion of the pipeline? - The pipeline includes both commercial and defense markets, with a mix likely close to 50-50 [27] Question: What should be expected regarding core OSS gross margin? - The core OSS gross margin is expected to be in the 35% to 40% range [29] Question: What hurdles exist between now and production in the defense industry? - The continued resolution of the defense budget is causing delays, but there are opportunities for technology refresh cycles that could expedite contracts [55] Question: How is the company addressing hiring challenges for security clearances? - The company can utilize its own personnel for current projects, and there is a plan to build out the team as needed [84] Question: What is the status of the defense work pushed out into 2024? - The estimate remains around $5 million to $6 million of defense work pushed out into 2024 [82]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38371 One Stop Systems, Inc. For the quarterly period ended September 30, 2023 (Exact Name of Registrant as Specified in its Charter) OR (State or other jurisdiction of incorporation or organization) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 33- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ________________ Commission File Number: 001-38371 One Stop Systems, Inc. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact Name of Registrant as Specified in its Charter) For the quarterly period ended June 30, 2023 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ________________ Commission File Number: 001-38371 One Stop Systems, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other j ...

One Stop Systems, Inc. (NASDAQ:OSS) Q4 2022 Results Conference Call March 23, 2023 5:00 PM ET Company Participants David Raun - President and CEO John Morrison - CFO Jim Ison - Chief Product Officer Conference Call Participants Scott Searle - Roth Capital Eric Martinuzzi - Lake Street Joe Gomes - Noble Capital Operator Good afternoon, and thank you for joining us today to discuss One Stop Systems Financial Results for the Fourth Quarter and Year Ended December 31, 2022. With us today are the Company’s Presi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _______ (Address of principal executive offices, including Zip Code) (760) 745-9883 (Registrant's telephone number, including area code) Securities re ...

Financial Data and Key Metrics - Q3 revenue reached a record $18.8 million, up 18% YoY, with year-to-date revenue at $54.2 million, also a record, up 23% YoY [4] - Gross profit decreased by $439,000 to $5.1 million, with gross margin at 27%, down 7.5 percentage points due to lower margin revenue from Bressner and media/entertainment business, and delayed military shipments [13] - Core OSS revenue increased 15% to $10.7 million, driven by AI Transportable and media/entertainment businesses [11] - Bressner revenue increased 21% to a record $8.1 million, despite a 14% YoY euro devaluation [12] - Operating expenses increased by $424,000 to $4.9 million, but as a percentage of revenue, decreased to 26.1% from 28.1% YoY [16] - Net income on a GAAP basis was $133,000 or $0.01 per diluted share, down from $981,000 or $0.05 per diluted share YoY [17] - Non-GAAP net income was $691,000 or $0.03 per diluted share, down from $1.5 million or $0.08 per diluted share YoY [18] - Adjusted EBITDA was $955,000 or 5.1% of revenue, compared to $1.8 million or 11.3% of revenue YoY [18] Business Line Performance - AI Transportable business saw solid growth, particularly in autonomous trucking, with two autonomous trucking customers now in the top 10 customer list [5] - Media and entertainment business contributed to revenue growth but faced margin pressure, with margins under 20% [28] - Military business experienced deferred shipments due to a transition to a new storage product version, but shipments have resumed [13] - Bressner's gross margin decreased by 3.4 percentage points to 22.2% due to increased material and transportation costs, as well as higher sales of lower margin products [15] Market Performance - European market saw strong performance through Bressner, with increased market share and strategic inventory buys driving growth [12] - Autonomous trucking market continues to progress, with hundreds of thousands of miles driven using the company's products, but a driverless solution is still needed to realize full economic potential [6] - Military market is expected to rebound, with new relationships being built with prime contractors and the Department of Defense, aiming for higher margins and less seasonality [38] Strategic Direction and Industry Competition - The company is focusing on higher margin products, particularly in the AI Transportable and military markets, to offset potential declines in media and entertainment revenue [31] - Six new program wins were added in Q3, including two in autonomous trucks, two in medical designs, and two in mobile 5G AI applications [32] - The company is developing a superior roadmap for autonomous trucking compute storage needs, leveraging PCIe, NVLink, ruggedization, and cooling technologies [8] - Military engagements have progressed, with the introduction of the Rigel platform, which is recognized as the fastest, most compact supercomputer available for military applications [40] Management Commentary on Operating Environment and Future Outlook - Management expects Q4 revenue to be approximately $19.2 million, which would result in a record annual revenue of $73.4 million, up more than 18% YoY [48] - Gross margins are expected to improve in Q4 with the resumption of military product shipments [14] - The company anticipates a technology transition in the media and entertainment market, potentially impacting revenues by the second half of 2023 as customers move to lower-cost, cloud-based solutions [30] - The company is confident in its ability to backfill potential revenue declines in media and entertainment with higher margin business from AI Transportable and military markets [37] Other Important Information - Cash and cash equivalents totaled $3.2 million, with short-term investments at $9.5 million, totaling $12.7 million in capital resources, a decrease of $1.7 million from the previous quarter due to increased working capital requirements [25] - The company showcased its latest products at the AUSA military trade show and will be attending the Supercomputer 22 Conference, expecting to announce more information in a press release [47] Q&A Session Summary Question: Autonomous Trucking Testing Progress - Testing with autonomous trucking companies is progressing well, with trucks driving hundreds of thousands of miles with minimal human intervention, but full driverless operation is still a year or two away [51][52] Question: Military Revenue Timeline - Military revenue is expected to start impacting significantly in late 2023 and beyond, with initial funding for projects potentially ranging from $0.5 million to $1.5 million [53] Question: Bridging Revenue Gaps - The company plans to bridge potential revenue gaps through AI Transportable wins, a rebound in military business, and aggressive pursuit of other deals [63][64] Question: Gross Margin Trends - Gross margins are expected to improve starting in Q4, driven by the resumption of military shipments and a shift towards higher margin products [66][67] Question: Supply Chain and Inflation - Supply chain issues are improving slightly, but the company continues to secure necessary inventory, with plans to reduce inventory levels over time [70] Question: Mobile 5G AI Opportunity - The mobile 5G AI opportunity is expected to yield over $10 million in revenue over several years, with deployments planned in over 100 cities [75] Question: Gross Margin Outlook for Next Year - Gross margins are expected to snap back to previous levels and improve further, with a steady cadence of improvement anticipated [78][80] Question: Impact of China Restrictions - The company does not expect China restrictions to impact its business, as current autonomous trucking customers are U.S.-based [82] Question: Military Advisory Board Impact - The military advisory board has been instrumental in opening doors to new opportunities, particularly with the Department of Defense [87] Question: Quantifying Deferred Military Shipments - Military shipments deferred to Q4 are expected to double or triple compared to Q3, with a strong recovery anticipated in 2023 [89][90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ________________ Commission File Number: 001-38371 One Stop Systems, Inc. (Exact Name of Registrant as Specified in its Charter) (State or oth ...

One Stop Systems, Inc. (NASDAQ:OSS) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET Company Participants David Raun - President, CEO & Director John Morrison - CFO, Treasurer & Secretary Jim Ison - Chief Sales & Marketing Officer Conference Call Participants Joseph Gomes - NOBLE Capital Markets Brian Kinstlinger - Alliance Global Partners David Williams - The Benchmark Company Maxwell Michaelis - Lake Street Capital Markets Operator Good afternoon, and thank you for joining us today to discuss O ...