secwatch.observer — SEC 8-K summary
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Issuer:     TSS, Inc. (TSSI)
CIK:        0001320760
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001437749-23-023649
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TSS Q2 revenue jumps to $14.5M from $6.4M YoY; net income down to $315K
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- Revenue $14.5M vs $6.4M in Q2 2022, driven by reseller revenue of $10.6M (vs $0.8M).
- Net income $315K ($0.01/sh) vs $771K ($0.04/sh) in prior-year quarter.
- Gross margin compressed to 22% from 41% due to mix shift toward lower-margin reseller sales.
- Adjusted EBITDA rose to $1.22M from $1.12M; operating income of $975K vs $939K.
- CEO cites large procurement deals closed in Q2 and plans to capitalize on AI-driven demand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320760/000143774923023649/0001437749-23-023649-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320760/000143774923023649/tssi20230814_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-023649

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