OSS ONE STOP SYSTEMS, INC.

Overview and Growth

ONE STOP SYSTEMS, INC. generated $32.22M of revenue in fiscal 2025, with net income of $5.09M and an operating cash outflow of $6.55M. At $32.22M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 31.2% from $24.56M in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $0.22, which connects the reported earnings outcome with the company’s diluted share count. The company employed $52.82M of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.61x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $15.98M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 49.6% of revenue, quantifying the portion retained before operating expenses were recognized. The company recorded an operating loss of $3.38M after the reported operating expense base. The operating loss equaled 10.5% of revenue, showing the scale of the operating deficit relative to sales. Net income came to $5.09M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 15.8% of revenue, connecting the absolute net income figure with the company’s top-line scale. The pretax result was a loss of $3.09M, establishing the deficit before tax effects. Measured against revenue, the pretax deficit represented 9.6%. The company recognized $11.31K of income tax for the period, completing the transition from pretax income to net income. Net income equaled 11.1% of period-end equity, showing the earnings generated on shareholders’ book capital. The net-income-to-assets relationship measured 9.6%, showing earnings relative to the full balance sheet. The company moved from a $13.63M net loss in fiscal 2024 to net income of $5.09M.

Liquidity and Capital Structure

The company held $52.82M of assets against $6.82M of liabilities and $46.01M of equity, revealing how the asset base was financed. Current assets were $50.82M against $5.57M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 9.13x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $31.17M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 560.1% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Equity equaled 87.1% of assets, showing the shareholder-capital layer within the company’s balance sheet. Relative to total assets, liabilities measured 12.9%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 59.0% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 43.0% from $36.93M in fiscal 2024, leaving current total assets higher year over year. Reported equity changed 69.3% from $27.17M in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 671.1% from $4.04M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $6.55M, showing that operations absorbed cash during the period. Capital expenditures used $114.60K in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Negative free cash flow was $6.67M, leaving a cash deficit after capital spending and reducing financial flexibility. Free-cash-flow margin was -20.7%, reflecting a cash deficit equal to 20.7% of revenue after capital spending. The cash deficit after capital spending represented 12.6% of the period-end asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.