Bsquare (BSQR) Reports Q4 Loss of $0.02 on Revenues of $11.1M

Bsquare (NASDAQ: BSQR) reported Q4 EPS of ($0.02), versus ($0.05) reported last year. Revenue for the quarter came in at $11.1 million, versus $15.37 million reported last year.

Fourth Quarter 2020 Financial Highlights

• Overall revenue for the quarter was $11.1 million, 6.2% higher than Q3 2020. Quarter-over-quarter improvement was primarily driven by revenue increases in the Edge to Cloud segment.
• Partner Solutions gross margins were 15.7%, down from 19.1% in Q3 2020, while Edge to Cloud gross margins improved to 39.4%.
• Net loss for the current quarter was $0.2 million, or $0.02 per diluted share, compared to a net loss of $0.1 million, or $0.01 per diluted share, in the third quarter of 2020.
• Fourth-quarter results improved quarter- and year-end cash balances to $13.0 million, an increase of $2.4 million over December 31, 2019.
• Adjusted EBITDAS was $0.1 million lower in Q4 2020 than in Q3 2020, but adjusted EBITDAS for the year was $5.1 million higher than adjusted EBITDAS for 2019.

"Our business rebuilding continued in 2020 despite the impact of COVID-19 on our revenue. The improvements in net loss and cash signal an increasing stability in our business" said Ralph C. Derrickson, CEO, and President of Bsquare.

Added Derrickson: "The growing connection between our OS licensing business and our IoT software and operations business was increasingly evident in 2020. The expansion of our business with Itron was evidence of our renewed focus on customer service. The experience we gained serving them, as well as our other large IoT customers, will result in improvements to our IoT service and software offerings."

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

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