Bsquare (BSQR) Reports Q3 Loss of $0.16

Bsquare (NASDAQ: BSQR) reported Q3 EPS of ($0.16). Revenue for the quarter came in at $16.69 million.

"Our third quarter financial results reflect progress on a number of fronts," said Kevin Walsh, Acting CEO. "We have reduced operating expenses by removing approximately $6 million in annualized costs from the business over the past two quarters, and we have decreased our quarterly cash usage."

"As we enter 2019, the importance of our IoT services business, as well as strengthening our partnerships with AWS and Microsoft Azure as the industry shifts toward cloud-anchored IoT infrastructure, are key elements of our strategy. As we ramp our IoT services offerings in response to customer demand, we will continue to make targeted investments in DataV; we believe our IoT services business provides an inroad to eventual DataV sales. And, we are also implementing new initiatives in our third-party software business that we believe will allow us to grow this business while complementing our IoT services. Taken together, we believe these changes will result in positioning Bsquare as a trusted IoT solutions provider and will help us return to profitability in the second half of 2019. As a result, the board considers it timely to launch the search for a permanent CEO."

GUIDANCE:

Bsquare sees Q4 2018 revenue of $15.5-17.5 million, versus the consensus of $0 million.

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

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