TSS Q4 revenue $10.9M vs $14.6M YoY; net loss $1.1M includes $581k CEO transition costs

TSS, Inc.

2024-Q1 EPS reported -$0.04 revenue$6,574,000

Q4 revenue $10.9M vs $14.6M YoY; reseller revenue down from $11.7M to $7.6M.
Q4 operating loss $723k vs $100k loss; includes $581k one-time CEO transition costs.
Q4 net loss $1.1M ($0.05/share) vs $264K ($0.01) loss in Q4 2021.
FY2022 revenue $30.6M (+12% YoY); operating income $914k vs loss $831k in FY2021.
FY2022 Adjusted EBITDA $2.243M vs $174k; net loss narrowed to $73k from $1.297M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TSS, Inc. reported the fiscal year ended December 31, 2022 results: revenue 2022 revenue of $30.6 million, net income Net loss of $73,000, EPS $0.00 per share.

Period: the fiscal year ended December 31, 2022
Revenue: 2022 revenue of $30.6 million
Net income: Net loss of $73,000
EPS: $0.00 per share
Result: reported results

Exact text from the filing

Fiscal 2022 Highlights (unaudited): ● 2022 revenue of $30.6 million compared with $27.4 million in 2021. Reseller revenues were $13.2 million in 2022 compared to $14.7 million in 2021. ● Gross margin of 29% in 2022 compared to 23% in 2021. ● Operating income of $914,000 in 2022 compared to an operating loss of $831,000 in 2021. ● Net loss of $73,000 or $0.00 per share in 2022 compared to a net loss of $1,297,000 or $(0.07) per share in 2021. ● Adjusted EBITDA of $2,243,000 in 2022 compared with Adjusted EBITDA of $174,000 in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TSS, Inc. reported the fourth quarter ended December 31, 2022 results: revenue Fourth quarter 2022 revenue of $10.9 million, net income Net loss of $1.1 million, EPS $0.05 per share.

Period: the fourth quarter ended December 31, 2022
Revenue: Fourth quarter 2022 revenue of $10.9 million
Net income: Net loss of $1.1 million
EPS: $0.05 per share
Result: reported results

Exact text from the filing

Fourth Quarter Highlights (unaudited): ● Fourth quarter 2022 revenue of $10.9 million compared with $14.6 million in the fourth quarter of 2021. Reseller revenues were $7.6 million in the fourth quarter of 2022 compared to $11.7 million in the fourth quarter of 2021. ● Gross margin of 18% in the fourth quarter of 2022 compared with 12% in the fourth quarter of 2021. ● Operating loss of $723,000 in the fourth quarter of 2022 compared to an operating loss of $100,000 in the fourth quarter of 2021. Included in the 2022 results are one-time costs of $581,000 associated with the change in chief executive officer during the fourth quarter. Operating costs beyond one-time costs were higher than expected in the period and are expected to normalize in 2023. ● Net loss of $1.1 million or $0.05 per share in the fourth quarter of 2022 compared to a net loss of $264,000 or $0.01 per share in the fourth quarter of 2021. ● Adjusted EBITDA of $90,000 in the fourth quarter of 2022 compared with Adjuste

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TSS, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-009070

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