Bsquare (BSQR) Reports Q3 Loss of $0.01 on Revenues of $10.4M

Bsquare (NASDAQ: BSQR) reported Q3 EPS of ($0.01), versus ($0.08) reported last year. Revenue for the quarter came in at $10.42 million, versus $8.9 million reported last year.

Third Quarter 2020 Financial Highlights

• Cash, cash equivalents, restricted cash, and short-term investments totaled $12.6 million on September 30, 2020, unchanged from June 30, 2020.
• Revenue for Q3 2020 was $10.4 million, up $1.5 million from Q2 2020. Revenue increases were driven by higher sales in the Partner Solutions segment and increased service revenue in the Edge-to-Cloud segment.
• Partner Solutions gross margins were 19%, up from Q2 2020. Edge-to-cloud margins also improved sequentially as investments in our large customers began to wind down.
• Net loss for the current quarter was $0.1 million, or $(0.01) per diluted share, compared to a net loss of $1.1 million, or $(0.08) per diluted share, in the second quarter of 2020.
• Adjusted EBITDAS was approximately $0.3 million, a $1.1 million improvement over the negative $0.8 million in the second quarter of 2020.

"We had a good quarter especially given the challenges we experienced in Q2. Revenue and margins were up sequentially, EBITDAS results improved, and cash utilization was minimal, all suggesting that COVID-19 did not derail us.' said Ralph C, Derrickson, CEO and President of Bsquare.

Added Derrickson: "The investments we made in our large Edge-to-Cloud customer relationships are bearing fruit and suggest that at the intersection of our two business segments, there lies the potential to accelerate our emergence from the period of business rebuilding that has dominated our management attention for the last five quarters."

For earnings history and earnings-related data on Bsquare (BSQR) click here.

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