TSS, Inc. Q1 revenue up 27% to $6.6M but net loss widens to $0.04/shr

TSS, Inc.

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

Revenue $6.6M vs $5.2M YoY; reseller revenue flat at $1.7M.
Operating loss $665K vs $173K YoY; net loss $0.04/shr vs $0.02/shr.
Adjusted EBITDA loss $438K vs positive $43K in Q1 2022.
Management transition costs $180K included in adjusted EBITDA.
CEO expects return to profitability in Q2 and FY 2023 revenue/EBITDA growth vs 2022.

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 0.95

TSS, Inc. reported three months ended March 31, 2023 results: revenue 6.6 million, net income loss of 786,000, EPS loss of 0.04 per share.

Period: three months ended March 31, 2023
Revenue: 6.6 million
Net income: loss of 786,000
EPS: loss of 0.04 per share
Result: reported results

Exact text from the filing

● First quarter 2023 revenue of $6.6 million compared with $5.2 million in the first quarter of 2022. Reseller revenues were $1.7 million in the first quarter of 2023 compared to $1.7 million in the first quarter of 2022. ● Gross margin of 26% in the first quarter of 2023 compared with 32% in the first quarter of 2022. ● Operating loss of $665,000 in the first quarter of 2023 compared to an operating loss of $173,000 in the first quarter of 2022. ● Net loss of $786,000 or $0.04 per share in the first quarter of 2023 compared to a net loss of $308,000 or $0.02 per share in the first quarter of 2022. ● Adjusted EBITDA loss of $438,000 in the first quarter of 2023 compared with Adjusted EBITDA of $43,000 in the first quarter of 2022.

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Source: SEC EDGAR

accession 0001437749-23-014551

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