---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-027654"
form_type: "8-K"
ticker: "TTSH"
cik: "0001552800"
company_name: "TILE SHOP HOLDINGS, INC."
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T15:07:53.194231+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Tile Shop Q4 net sales down 3.0%, full-year revenue record; completes $30M share buyback

## Summary
- Q4 net sales $87.5M (-3.0% YoY), comp store sales -2.8%; full-year net sales $394.7M (+6.5%), record revenue.
- Q4 net income $1.5M ($0.03 EPS), full-year $15.7M ($0.32 EPS); adjusted EBITDA Q4 $8.9M, full-year $49.6M.
- Gross margin contracted: Q4 64.5% (vs 66.1%), full-year 65.6% (vs 68.3%) due to higher product costs and freight.
- Completed $30M share repurchase, retired 7.8M shares at avg $3.87; debt increased to $45.4M to fund buybacks.
- Board approved salary increases for CEO to $412k, CFO to $300k, effective Jan 1, 2023.

## SEC filing metadata
- accession: 0001104659-23-027654
- form_type: 8-K
- ticker: TTSH
- cik: 0001552800
- company_name: TILE SHOP HOLDINGS, INC.
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1552800/000110465923027654/0001104659-23-027654-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1552800/000110465923027654/tm238282d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-027654
- JSON: https://secwatch.observer/filing/0001104659-23-027654.json
- Plain text: https://secwatch.observer/filing/0001104659-23-027654.txt

## Key facts
- Earnings Releases
  TILE SHOP HOLDINGS, INC. reported three months ended December 31, 2022 results: revenue $87,473, net income $1,453, EPS $0.03.
  - Period: three months ended December 31, 2022
  - Revenue: $87,473
  - Net income: $1,453
  - EPS: $0.03
  - Result: reported results
  source text: momentum into 2023.” Three Months Ended Full Year Ended (unaudited, dollars in thousands, except per share data) December 31, December 31, 2022 2021 2022 2021 Net sales $ 87,473 $ 90,183 $ 394,702 $ 370,700 Net sales (decline) growth (1) (3.0 )% 10.6 % 6.5 % 14.0 % Comparable store sales (decline) growth (2) (2.8 )% 10.3 % 6.5 % 13.8 % Gross margin rate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552800/000110465923027654/0001104659-23-027654-index.htm
- Earnings Releases
  TILE SHOP HOLDINGS, INC. reported fiscal year ended December 31, 2022 results: revenue $394,702, net income $15,703, EPS $0.32.
  - Period: fiscal year ended December 31, 2022
  - Revenue: $394,702
  - Net income: $15,703
  - EPS: $0.32
  - Result: reported results
  source text: 2023.” Three Months Ended Full Year Ended (unaudited, dollars in thousands, except per share data) December 31, December 31, 2022 2021 2022 2021 Net sales $ 87,473 $ 90,183 $ 394,702 $ 370,700 Net sales (decline) growth (1) (3.0 )% 10.6 % 6.5 % 14.0 % Comparable store sales (decline) growth (2) (2.8 )% 10.3 % 6.5 % 13.8 % Gross margin rate 64.5 % 66.1 % 65.6 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552800/000110465923027654/0001104659-23-027654-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.