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Mar 31, 2022
CSP Q2 2022 Earnings Report
CSP Inc. reported improved business trends and a record backlog for the second fiscal quarter.
Key Takeaways
CSP Inc. reported a revenue of $12.0 million and a net income of $156,000, or $0.03 per diluted share, for the fiscal 2022 second quarter. The company's backlog reached a record $17.3 million, and gross margin expanded by 4% over the prior year.
Services revenue increased by 21% compared to the year-ago second quarter.
Backlog reached a record $17.3 million, more than doubled compared to the previous year.
Technology Solutions backlog was $13.0 million, compared to $7 million year ago.
High-Performance Product backlog was $4.3 million, compared to $0.3 million a year ago.
CSP
CSP
CSP Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
The company anticipates customer adoption will accelerate during the second half of fiscal 2022 and into fiscal 2023, driven by a growing pipeline.
Positive Outlook
- Growing pipeline expected to accelerate customer adoption.
- Strong balance sheet provides resources to execute growth strategy.
- Company believes its backlog represents an undervalued asset.
- New customers pace increased for ARIA and UCaaS products.
- Management believes it has the resources to execute the multi-year growth strategy of transforming to a cybersecurity, wireless and managed services company.
Challenges Ahead
- Ongoing supply chain issues are hampering ability to receive components and deliver finished product.
- COVID-19 impacts continue to affect the business.
- Supply chain issues have affected the timing of sales.
- General economic conditions.
- Competitive factors and pricing pressures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income