secwatch.observer — SEC 8-K summary
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Issuer:     TSS, Inc. (TSSI)
CIK:        0001320760
Form:       8-K
Filed at:   2022-03-30T23:59:59+00:00
Accession:  0001437749-22-007675
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320760/000143774922007675/0001437749-22-007675-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320760/000143774922007675/tssi20220329_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-007675

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer