Company research
GSE SYSTEMS INC
CIK 944480Updated Sep 24, 2026
Filing activity
Latest filing
50 filings on record · SCHEDULE 13G/A, SC 13G/A, EFFECT, 15-12G, POS AM, S-8 POS.
Financials
FY 2023 · USDSource
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balance sheet · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 22,805,000Source | 26,496,000Source | 39,051,000Source | 39,190,000Source |
| Property, Plant and Equipment, NetUSD | 754,000Source | 772,000Source | 839,000Source | 616,000Source |
| GoodwillUSD | 4,908,000Source | 6,299,000Source | 13,339,000Source | 13,339,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 1,179,000Source | 1,687,000Source | 3,020,000Source | 4,234,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 2,250,000Source | 2,789,000Source | 3,550,000Source | 6,702,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 10,166,000Source | 10,064,000Source | 11,257,000Source | 10,494,000Source |
| Assets, CurrentUSD | 13,673,000Source | 16,070,000Source | 20,069,000Source | 18,750,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 879,000Source | 2,165,000Source | 5,262,000Source | 1,554,000Source |
| Operating Lease, Right-of-Use AssetUSD | 413,000Source | 506,000Source | 1,200,000Source | 1,562,000Source |
| Other Assets, NoncurrentUSD | 45,000Source | 53,000Source | 52,000Source | 59,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 17,463,000Source | 16,265,000Source | 16,008,000Source | 28,685,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 32,000Source | 240,000Source | 225,000Source | 222,000Source |
| Additional Paid in CapitalUSD | 86,983,000Source | 82,911,000Source | 80,505,000Source | 79,687,000Source |
| Retained Earnings (Accumulated Deficit)USD | -78,708,000Source | -69,927,000Source | -54,584,000Source | -65,191,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 34,000Source | 6,000Source | -104,000Source | -1,214,000Source |
| Stockholders' Equity Attributable to ParentUSD | 5,342,000Source | 10,231,000Source | 23,043,000Source | 10,505,000Source |
| Liabilities and EquityUSD | 22,805,000Source | 26,496,000Source | 39,051,000Source | 39,190,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 16,343,000Source | 15,651,000Source | 15,039,000Source | 21,481,000Source |
| Operating Lease, Liability, CurrentUSD | 234,000Source | 418,000Source | 1,205,000Source | 1,138,000Source |
| Accounts Payable, CurrentUSD | 3,300,000Source | 1,262,000Source | 1,179,000Source | 570,000Source |
| Operating Lease, Liability, NoncurrentUSD | 357,000Source | 160,000Source | 790,000Source | 1,831,000Source |
| Other Liabilities, NoncurrentUSD | 126,000Source | 144,000Source | 179,000Source | 339,000Source |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 1,053,000Source | 2,084,000Source | 1,358,000Source | 1,297,000Source |
| Deferred Tax Liabilities, NetUSD | 18,000Source | 6,000Source | 93,000Source | — |
| Long-term Debt, Current MaturitiesUSD | — | — | — | 0Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 637,000Source | 310,000Source | 0Source | 5,034,000Source |
cash flow · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 1,158,000Source | 1,954,000Source | 1,043,000Source | 378,000Source |
| Deferred Income Tax Expense (Benefit)USD | 12,000Source | -86,000Source | 93,000Source | 0Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 1,559,000Source | 738,000Source | -153,000Source | 1,118,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | — | — | 0Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -666,000Source | -618,000Source | -776,000Source | -330,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 168,000Source | 238,000Source | 506,000Source | 13,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 190,000Source | 263,000Source | — | — |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -1,538,000Source | 795,000Source | -2,223,000Source | -6,066,000Source |
| Repayments of Long-term DebtUSD | — | — | 0Source | 18,481,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -665,000Source | 826,000Source | -3,152,000Source | -4,989,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 3,711,000Source | 4,376,000Source | 3,550,000Source | 6,702,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 947,000Source | 546,000Source | 118,000Source | — |
| Income Taxes Paid, NetUSD | 79,000Source | 47,000Source | 129,000Source | 194,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | -20,000Source | -89,000Source | 0Source | 289,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 1,200,000Source | 2,000,000Source | 1,000,000Source | — |
| Amortization of Intangible AssetsUSD | 508,000Source | 868,000Source | 1,213,000Source | 1,943,000Source |
| Capitalized Computer Software, AmortizationUSD | 322,000Source | 339,000Source | 368,000Source | 339,000Source |
| DepreciationUSD | 185,000Source | 304,000Source | 284,000Source | 330,000Source |
| Gain (Loss) on Derivative Instruments, Net, PretaxUSD | 850,000Source | 477,000Source | 19,000Source | -17,000Source |
| Gain (Loss) on Sale of Assets and Asset Impairment ChargesUSD | — | — | 0Source | 5,000Source |
| Gain (Loss) on Termination of LeaseUSD | — | 94,000Source | — | — |
| GoodwillUSD | 4,908,000Source | 6,299,000Source | 13,339,000Source | 13,339,000Source |
| Goodwill and Intangible Asset ImpairmentUSD | 1,391,000Source | 7,505,000Source | — | — |
| Impairment of Intangible Assets, Finite-livedUSD | 0Source | 464,000Source | — | 4,302,000Source |
| Income Tax Expense (Benefit)USD | 22,000Source | 51,000Source | 163,000Source | 355,000Source |
| Net Income (Loss) Attributable to ParentUSD | -8,724,000Source | -15,343,000Source | 10,607,000Source | -10,537,000Source |
| Operating ExpensesUSD | 18,748,000Source | 26,316,000Source | 17,832,000Source | 24,323,000Source |
| Operating Lease, ExpenseUSD | — | 700,000Source | 728,000Source | 780,000Source |
| Other Nonoperating Income (Expense)USD | -802,000Source | -91,000Source | 16,884,000Source | -4,000Source |
| Payments of Financing CostsUSD | — | — | 0Source | 91,000Source |
| Proceeds from Issuance of Common StockUSD | — | — | — | 0Source |
| Proceeds from Issuance of Long-term DebtUSD | 1,800,000Source | 5,750,000Source | — | 0Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | 0Source |
| Restructuring CostsUSD | — | — | 798,000Source | 1,297,000Source |
income statement · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Total RevenueUSD | 45,041,000Source | 47,734,000Source | 55,183,000Source | 57,620,000Source |
| Cost of RevenueUSD | 33,111,000Source | 35,824,000Source | 43,325,000Source | 42,835,000Source |
| Selling, General and Administrative ExpenseUSD | 16,092,000Source | 17,028,000Source | 14,908,000Source | 15,765,000Source |
| Operating Income (Loss)USD | -6,818,000Source | -14,406,000Source | -5,974,000Source | -9,538,000Source |
| Other Nonoperating Income (Expense)USD | -802,000Source | -91,000Source | 16,884,000Source | -4,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -8,702,000Source | -15,292,000Source | 10,770,000Source | — |
| Income Tax Expense (Benefit)USD | 22,000Source | 51,000Source | 163,000Source | 355,000Source |
| Net Income (Loss) Attributable to ParentUSD | -8,724,000Source | -15,343,000Source | 10,607,000Source | -10,537,000Source |
| Earnings Per Share, BasicUSD per share | -3.51Source | -0.72Source | 0.51Source | — |
| Earnings Per Share, DilutedUSD per share | -3.51Source | -0.72Source | 0.51Source | -0.52Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 2,486,550Source | 21,362,897Source | 20,761,191Source | — |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 2,486,550Source | 21,362,897Source | 20,761,191Source | 20,439,157Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 508,000Source | 868,000Source | 1,213,000Source | 1,943,000Source |
| Capitalized Computer Software, AmortizationUSD | 322,000Source | 339,000Source | 368,000Source | 339,000Source |
| Current Income Tax Expense (Benefit)USD | 10,000Source | 137,000Source | 70,000Source | 355,000Source |
| Gain (Loss) on Derivative Instruments, Net, PretaxUSD | 850,000Source | 477,000Source | 19,000Source | -17,000Source |
| Gross ProfitUSD | 11,930,000Source | 11,910,000Source | 11,858,000Source | 14,785,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | -8,584,000Source | -15,128,000Source | 13,351,000Source | -13,834,000Source |
| Interest Income (Expense), NetUSD | -1,932,000Source | -1,272,000Source | -159,000Source | -623,000Source |
| Operating ExpensesUSD | 18,748,000Source | 26,316,000Source | 17,832,000Source | 24,323,000Source |
| Operating Lease, ExpenseUSD | — | 700,000Source | 728,000Source | 780,000Source |
| Research and Development ExpenseUSD | 572,000Source | 611,000Source | 626,000Source | 686,000Source |
| Restructuring CostsUSD | — | — | 798,000Source | 1,297,000Source |