TSS reports Q4 revenue $14.6M, net loss $264K; FY 2021 revenue $27.4M, net loss $1.3M

TSS, Inc.

Q4 revenue $14.6M vs $7.2M YoY; reseller revenue $11.7M (up from $3.1M).
Q4 gross margin 12% (down from 23%); operating loss $100K ($140K loss YoY).
Q4 net loss $264K ($0.01/sh) vs net income $637K ($0.04/sh) in Q4 2020, which included $897K PPP gain.
FY 2021 revenue $27.4M (down 39% from $45.1M); gross margin improved to 23% from 15%.
FY 2021 adjusted EBITDA $174K vs $1,417K in 2020; management cites large backlog expects 2022 improvement.

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