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Dec 31, 2021
CSP Q1 2022 Earnings Report
CSP Inc. reported improved financial results for the fiscal first quarter ended December 31, 2021.
Key Takeaways
CSP Inc. reported a 9% increase in revenue compared to the year-ago quarter, driven by higher services revenue. However, the company reported a net loss of $366,000, compared to a net income of $1.2 million in the same quarter last year, which included a gain on debt extinguishment.
Total revenue increased 9% year over year driven by higher services revenue.
Services revenue grew 22% compared to the year-ago first quarter.
Gross margin was 29.2% due to focus on higher margin products and services.
Backlog increased to over $15 million.
CSP
CSP
CSP Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
CSPi is optimistic about ARIA and the cruise business, but continues to face supply chain issues.
Positive Outlook
- The company signed two new ARIA customers during the fiscal first quarter.
- The company believes ARIA is going to be a game changer for its High-Performance Products (HPP) business.
- The company has witnessed a higher level of activity in the cruise business.
- The company has teams deployed on several ships.
- The company is optimistic of receiving additional ships in the second half of the year if current operating conditions remain the same.
Challenges Ahead
- The company continues to face supply chain issues that inhibit its ability to fulfill customer purchase orders.
- Supply chain issues have delayed many customer’s orders.
- Under a normal environment, the company would have seen a significant profit for the quarter.
- COVID-19 impacts continue to affect the company.
- There is no short solution to the world-wide supply chain problem.
Revenue & Expenses
Visualization of income flow from segment revenue to net income