$BSQR Reports Q4 2022 Financial Results: Decreased Revenues & Strong Cash Reserves Amid Mixed Bag Performance.
Mar 7th 2023, 9:08 pm
Bsquare Corporation has reported financial results for the fourth quarter of 2022, showing a decrease in revenues from $8.5 million to $8.0 million, or 5% from Q3 of 2022. Furthermore, operating expenses increased to $2.7 million, net loss was $1.2 million, and loss from operations was $1.5 million. In contrast, the company's cash reserves remain strong, even though they decreased by $4.5 million at the end of the year. According to the CEO of Bsquare, Ralph C. Derrickson, the company experienced a mixed bag in Q4 2022, with some positive and negative aspects. Though revenue from Partner Solutions and SquareOne decreased or did not materialize as hoped, interest income and improved margins helped reduce net loss. Bsquare has entered 2023 with cost structures that align with the present reality, minimizes cash burn, explore organic growth, and search for alternatives aggressively to enhance shareholder value. However, the company cautioned potential investors regarding uncertainties and risks that could affect their actual results and financial condition, such as the ongoing impact of COVID-19, competition, CRM, and others. Hence, investors should consider monitoring Bsquare Corporation's news and financial reports closely.