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    Joseph Nerges • Analyst

    Joseph Nerges is the Principal of Segren Investments, known primarily as a significant shareholder and active investor in CSP Inc., an IT solutions provider specializing in cybersecurity and cloud-based offerings. Over the past year, he has consistently increased his holdings in CSP Inc., with his stake now exceeding 1.3 million shares, reflecting a robust, long-term investment strategy. Nerges' involvement as an investor is highlighted by his participation in company earnings calls and annual meetings, where he poses detailed questions on business strategy and product development but does not hold an equity research or sell-side analyst position at a major financial institution. Professional credentials such as FINRA registration or securities licenses are not publicly associated with his profile, indicating his focus is on private investment management rather than regulated securities analysis.

    Joseph Nerges's questions to CSP Inc (CSPI) leadership

    Joseph Nerges's questions to CSP Inc (CSPI) leadership • Q2 2025

    Question

    Joseph Nerges, also asking on behalf of Brett Davidson, inquired about the backlog and potential contract sizes for AZT PROTECT, the outlook for the cruise ship and freighter business, and the unique competitive advantages of the new cell tower solution. He also requested an update on the size of the cloud-based projects pipeline.

    Answer

    Executive Victor Dellovo declined to provide specific figures for the AZT PROTECT backlog but confirmed the pipeline is growing across various sales stages. He characterized the cruise ship business as 'steady,' with projects dependent on ship drydock schedules. Dellovo highlighted that the AZT solution is unique for cell towers due to its small CPU and storage footprint and its compatibility with Linux, making it ideal for resource-constrained environments. He also confirmed the cloud-based project backlog had grown from 14 to 'probably in the 20s.'

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    Joseph Nerges's questions to CSP Inc (CSPI) leadership • Q4 2024

    Question

    Inquired about a prior year accounting credit, the status of proof-of-concept (POC) trials for AZT PROTECT, clarification on existing Fortune 500 customers, and the company's stock buyback program.

    Answer

    Executives confirmed the accounting credit from the previous year was a one-time event affecting comparisons. They stated over a dozen POCs are in various stages, with some decisions expected in January. They also verified the three Fortune 500 customers and a government agency using AZT PROTECT and acknowledged the suggestion to increase stock repurchases.

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    Joseph Nerges's questions to CSP Inc (CSPI) leadership • Q4 2024

    Question

    Joseph Nerges asked for clarification on a prior-year accounting credit, inquired about the status of AZT PROTECT proof-of-concepts (POCs) from recent trade shows and earlier efforts, confirmed the number of Fortune 500 customers, and suggested a more aggressive stock buyback.

    Answer

    Executive Gary Levine confirmed the prior-year accounting credit significantly impacted year-over-year comparisons. Executive Victor Dellovo stated that new POCs from recent shows are beginning, with over a dozen others in various stages. He confirmed the existing Fortune 500 wins and hinted at another announcement coming soon. The suggestion on the stock buyback was acknowledged but not directly addressed.

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