TSS Q3 revenue up 10% to $8.9M; net income slides to $209k from $605k

TSS, Inc.

2023-Q3 EPS reported -$0.01 revenue$29,991,000

Q3 2023 revenue $8.9M (+10% YoY) driven by reseller revenue surge to $5.4M from $3.1M.
Gross margin fell to 32% from 34%; operating income $715k vs $871k in Q3 2022.
Net income $209k ($0.01/share) vs $605k ($0.03); YTD net loss $262k vs prior net income.
Adjusted EBITDA Q3 $940k vs $1,043k; YTD $1,727k vs $2,202k.
CEO cites investments in sales/ops to capture AI-driven IT market growth.

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 financial results for three and nine months ended September 30, 2023.

Period: three and nine months ended September 30, 2023
Result: reported results

Exact text from the filing

issued a press release reporting certain financial results of the Company for the three and nine months ended September 30, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TSS, Inc. reported third quarter ended September 30, 2023 results: revenue $8.9 million, net income $209,000 or $0.01 per share, EPS $0.01 per share.

Period: third quarter ended September 30, 2023
Revenue: $8.9 million
Net income: $209,000 or $0.01 per share
EPS: $0.01 per share
Result: reported results

Exact text from the filing

We will continuously improve the solutions and services we provide to the market.” Third Quarter Highlights (unaudited): ● Third quarter 2023 revenue of $8.9 million compared with $8.1 million in the third quarter of 2022. Reseller revenues were $5.4 million in the third quarter of 2023 compared to $3.1 million in the third quarter of 2022.

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TSS, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-031601

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