Company description

Sun, 16 Jul 2023 19:47:47 GMT

OneSoft Solutions Inc is a provider of software solutions for select markets, all of which are developed using Microsoft's new Cloud technologies. Its mission is to acquire, manage and build next-generation software businesses that will provide specialized, mission-critical cloud software solutions to address customer needs. It has developed software technology and products that have the capability to transition legacy, on-premise licensed software applications to operate on the Microsoft Azure Cloud Platform. It seeks opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions.

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Tue, 20 Feb 2024 16:40:04 GMT

Onesoft Solutions Inc (OTC:OSSIF) ($0.66, $81.5 M market cap) - Mark Gomes, CEO of Pipeline Data LLC pitched the stock during our July Open Forum (stock was at like $0.45 at that time). Today the company provided preliminary 2023 results and 2024 guidance:

OneSoft's preliminary Fiscal 2023 revenue increased 51% year-over-year to $10.4 million, essentially in line with previous guidance of $10.1 million.
OneSoft's preliminary Fiscal 2023 Adjusted EBITDA1 improved from a loss of $2.0 million to a loss of $85,000 year-over-year, essentially in line with previous guidance of a loss of $28,000.
Fiscal 2023 growth was driven by continued and increasing consumption of the Company's Cognitive Integrity Management ("CIM") solution by existing customers and the addition of new customers.
The Company expects revenue growth in 2024 to continue with similar year over year trends from existing and new customers and from sales of new software-as-a-service ("SaaS") modules, which is expected to increase revenue per mile of pipeline assets under SaaS agreements.
OneSoft is issuing Fiscal 2024 guidance for revenue of $15 million to $16 million, Adjusted EBITDA1 between $1.6 million to $1.9 million, and forecasted cash at the end of 2024 of between $4.7 to $5.0 million

“With revenue growth of approximately 51% over Fiscal 2022, OneSoft essentially met expectations for Fiscal 2023, with no material differences from the guidance we published at the beginning of the year," said Dwayne Kushniruk, OneSoft CEO. "Revenue, cash and deferred revenue exceeded the guidance we provided, and net loss and Adjusted EBITDA loss were slightly higher than projected at the beginning of the year, due to higher costs resulting from expansion of our development team during 2023. Looking forward to 2024, we plan to continue to invest to fast-track development of the additional SaaS functionality that will comprise our expanded platform that our customers are requesting. With another year behind us, we continue to gain better visibility into pipeline miles that will generate revenue and business growth in future periods. Based on this, we believe the Company is well positioned to continue similar year over year growth in Fiscal 2024 and we are confident that we can execute our current Fiscal 2024 business and operational plans without raising additional capital."

OSSIF, along with Acorn Energy Inc (OOTC:ACFN), are two stocks we are tracking closely as companies that are operating in remote monitoring and data analytical solutions for the energy industry.

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Company description

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