Bsquare Announces First Quarter 2023 Financial Results

Provided By PR Newswire

Last update: May 11, 2023

Revenue stable; Improving operating results

SEATTLE, May 11, 2023 /PRNewswire/ -- Bsquare Corporation (NASDAQ: BSQR) today announced financial results for the first quarter of 2023. Total revenue was $8.1 million, an increase of $0.2 million or 2% compared to the fourth quarter of 2022. Gross profit was in-line with the previous quarter while operating expenses decreased by $1.0 million. Loss from operations was $0.4 million, which was a $1.1 million improvement from the fourth quarter operating loss. Cash, cash equivalents, restricted cash and short-term investments totaled $34.0 million as of March 31, 2023, a decrease of $1.7 million since December 31, 2022.