BSQR - BSQUARE stock slumps as Q3 revenue falls on supply chain recession woes

• BSQUARE ( NASDAQ: BSQR ) stock fell ~10% on Friday after Q3 net loss widened and revenue declined.
• Net loss widened to -$1.13M, compared to -$895K in Q3 2021.
• Q3 revenue fell -21% Y/Y to $8.41M. Partner Solutions revenue decreased -21.59% Y/Y to $7.56M, while Edge to Cloud revenue declined -15.77% Y/Y to $849K.
• "The revenue decline was disappointing as it disrupted a two-quarter trend of improvement. Our Partner Solutions customers cite supply chain issues and the looming recession as reasons for decreased ordering," said Bsquare President and CEO Ralph Derrickson.
• Total operating expenses were $2.29M, compared to $2.19M in Q3 2021.
• Outlook :
• "We are shifting our planning priorities for 2023 to achieve breakeven business operations. We will continue to invest carefully to drive organic growth, but the timing and amount will be subject to both the business opportunity and our financial results, preserving our strong balance sheet for strategic alternatives," added Derrickson.

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