ONESOFT SOLUTIONS INC - OSSIF STOCK NEWS

OneSoft Solutions Inc. reported a strong fiscal 2022, achieving $6.9 million in revenue, a 55% increase from 2021. Q4 2022 revenue hit $2.2 million, up 81% year-over-year. The company forecasts fiscal 2023 revenue to exceed $10 million, driven primarily by existing customers' software-as-a-service (SaaS) adoption, with 90% of anticipated revenue coming from this segment. Cash at year-end 2023 is projected to be $4 million, with operations expected to break even. Risks include potential regulatory changes and economic conditions affecting customer spending. Despite these, the company is optimistic about continued growth and no immediate need for additional financing.

OneSoft Solutions Inc. (OSSIF) announced that its subsidiary, OneBridge Solutions, is now SOC 2 Type 2 compliant, enhancing its data security protocols. This certification boosts OneBridge's reputation, reassuring clients in the pipeline industry about their data handling practices. Jordan Dubuc, CTO, emphasized that meeting SOC 2 compliance raises industry standards for third-party solutions. The move aligns with the increasing demand for robust information security in cloud services, particularly for pipeline operators, and demonstrates OneBridge's commitment to ongoing data protection investments.

OneSoft Solutions has renewed its partnership with Sophic Capital as its Capital Markets Advisory firm for a 12-month term at $7,000 monthly. This engagement aims to enhance investor relations and awareness, aided by granting Sophic 500,000 options at $0.45 per share. Sophic Capital, experienced in technology and clean sectors, will support OneSoft's growth and lower capital costs. OneSoft specializes in transitioning legacy software to the Microsoft Azure Cloud and uses data science for oil and gas pipeline analytics.

EDMONTON, AB / ACCESSWIRE / December 1, 2022 - OneSoft Solutions (TSXV:OSS)(OTCQB:OSSIF) will present at the Planet MicroCap Showcase: VIRTUAL 2022 on December 7, 2022, at 3:00 PM ET. President Brandon Taylor highlights significant achievements in 2022, including new multi-year SaaS agreements and record revenues for Q3. The company aims to enhance its leadership in pipeline integrity management through cloud computing and data analytics.

Access the live presentation here.

OneSoft Solutions (OSSIF) announced its Q3 2022 financial results, reporting a 69% increase in revenue year-over-year, totaling $2.085 million. The company's net loss decreased by 57% to $300,000 compared to Q3 2021. Deferred revenue surged 147.4% to $2.9 million, reflecting strong customer commitments. Operationally, new contracts were secured with major clients, including a Fortune 50 company and Jemena Asset Management. Management is optimistic about continued revenue growth through ongoing customer acquisitions and innovations in pipeline asset management.

OneSoft Solutions Inc. (OSSIF) announced a multi-year agreement with Jemena to utilize its Cognitive Integrity Management ^TM (CIM) for pipeline integrity management. This agreement follows successful pilot projects that demonstrated CIM's ability to automate data analysis, enhancing decision-making and reducing costs. Jemena becomes the first Australian pipeline operator to integrate CIM's technology, which leverages machine learning and cloud computing. This partnership aims to optimize Jemena's infrastructure management and uphold technological leadership in safety and efficiency.

OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) has partnered with Uptake Technologies, Inc. to enhance pipeline safety and operational efficiency for oil and gas operators. This collaboration integrates Uptake's Fusion solution with OneBridge's Cognitive Integrity Management (CIM) platform, utilizing Microsoft's Azure cloud for data management. The alliance aims to address key challenges in accessing and normalizing operational technology data, facilitating better predictive analytics and maintenance. According to OneSoft President Brandon Taylor, this integration represents a significant technological advancement for their joint customers.

OneSoft Solutions has announced the introduction of its Corrosion Growth Analysis solution by its subsidiary OneBridge at the International Pipeline Conference from September 26-30, 2022. This innovative Integrity-as-a-Service (IaaS) solution allows integrity engineers to automate pipeline integrity processes, significantly reducing analysis time and costs. The service fee starts at US$4,950 for two datasets, with additional datasets costing US$500 each. This advancement aims to leverage machine learning and cloud computing to enhance pipeline management for over 1,800 companies in the U.S.

OneSoft Solutions (TSX-V:OSS; OTCQB:OSSIF) has secured a multi-year agreement with a Fortune 50 oil and gas company to implement its Cognitive Integrity Management™ (CIM) platform. This agreement enhances the Client's digital strategy through advanced machine learning and data analytics across global pipeline operations. The CIM platform will incorporate vital modules for managing corrosion, cracks, and risks. President Brandon Taylor expressed optimism for a fruitful partnership leveraging Microsoft cloud solutions and integration with existing enterprise systems.