Forensic Analysis · Technology / Software · as of Sep 26, 2026
One Stop Systems, Inc. (OSS)
A forensic read on One Stop Systems, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
16.7
Distress distance
Watch
Earnings quality
5
Forensic signals
89.1
P / E (ttm)
11.1%
ROE
$250M
Market cap
0.00%
Dividend yield
31.2%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
One Stop Systems, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 16.7, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-16.6%
FY2025
Return on invested capital.Return on invested capital is -16.6% in the latest fiscal year, against -16.8% in FY2023, having run between -50.1% and -16.6% across FY2023–FY2025 with no direction held. After-tax operating profit was ($6M) in FY2023 and ($3M) in FY2025, with operating income at -13.0% of revenue in FY2023, -63.8% in FY2024 and -10.5% in FY2025. The capital base behind it cannot be compared across FY2023–FY2025: long-term debt is tagged in one of those two fiscal years and not the other, and an untagged line enters this calculation as zero, so any change in the base would be a change in what the filer tagged. FY2023's operating profit carried a $6M goodwill write-off that alone took about 11.9 points off that year's return, so more than the whole 0.2-point rise across FY2023–FY2025 is that charge leaving the base year rather than the capital earning more.
+5.5%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +11% over the last 2 years to FY2025 (+5.5%/yr). The count is growing — 20.9M shares in FY2023, 23.2M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~5.5% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~10%.
6% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 6% of revenue in FY2025 — about $0.08 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 5.5% a year across FY2023–FY2025 and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$32.2M
Revenue Growth YoY+31.2%
Revenue CAGR (2yr)-27.3%
Net Margin15.8%
Free Cash Flow-$6.7M
Return on Equity11.1%
Debt / Equity0.00x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from One Stop Systems, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 26, 2026. Forensic signals flag probability, not certainty.
One Stop Systems, Inc. (OSS) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
131d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 62 to 131 days FY2024→FY2025 (receivables +176% vs revenue +31%). Across FY2023–FY2025 the day count ran 50 → 62 → 131 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Receivables grew, but deferred revenue grew +55% over the same period too — rising alongside rising unearned revenue reads as upfront billing on multi-period contracts, not slipping collections. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
$6M
FY2023–FY2023
Goodwill impairments.Took $6M of goodwill writedowns across 1 year (FY2023 ($6M)). Writedowns mean past acquisitions underperformed what was paid for them.