TSS Inc【TSSI】株式ニュース

TSS Reports First Quarter 2026 Financial ResultsMay 7, 2026 4:05 PM
ACCESS NewswireTotal Revenue of $55.3 MillionSystems Integration Revenue Increased 88% Year-Over-YearRefines Full-Year 2026 Outlook; Now Expects Adjusted EBITDA Toward High End of $20 to $22 Million RangeGEORGETOWN, TX / ACCESS Newswire / May 7, 2026 / TSS, Inc. (Nasdaq:TSSI), a data center services company that integrates AI and other high-performance computing infrastructure and software and provides related data center services, today reported results for its first quarter ended March 31, 2026."We delivered strong growth in our higher margin Systems Integration business in the first quarter, with revenue increasing 88% year over year, driven by strong customer demand and solid operational execution with growth particularly high in our AI activities," said Darryll Dewan, CEO of TSS, Inc. "Total revenue comparisons were affected by record high volumes in the first quarter of last year in our lower-margin Procurement business, which can vary from quarter to quarter. Importantly, our first quarter results were in line with our expectations, underscore the strength of our core business and reinforce our confidence in achieving our outlook for the full year."Our Georgetown, Texas AI rack integration facility has been running at increasing scale for six months. As a result, our quarterly EBITDA levels have grown and will continue to grow along with AI rack volumes. We are working to expand the markets we serve in terms of both customers and service offering. We have strengthened our leadership team with the addition of a chief strategy officer and a chief technology officer, whose deep industry expertise, proven leadership and extensive global networks position us to accelerate both organic expansion and strategic growth initiatives within our current customer base as well as opportunities to expand beyond our current customers."First Quarter 2026 Financial Highlights:
(All comparisons are to First Quarter 2025)Revenues of $55.3 million, down 44%Procurement revenues of $40.0 million, down 56%Systems Integration revenues of $14.1 million, up 88%Facilities Management revenues of $1.3 million, down 1%Gross profit of $8.8 million, down 4%Reflects current year $0.9 million allocation of depreciation to COGSNet income of $2.3 million, down 24%Reflects full impact of income taxes following removal of valuation allowance on deferred tax asset in Q4 2025Diluted EPS of $0.08 compared to $0.12Adjusted EBITDA of $5.3 million, up 1%, reflecting a shift in total revenues to higher margin systems integration2026 OutlookDewan concluded, "We maintain our outlook for Adjusted EBITDA in the range of $20 million to $22 million for 2026 with performance expected toward the higher end of the range. Our forecast reflects a prudent view on component availability, with total integration demand continuing to exceed the volume incorporated into our outlook."Conference Call DetailsThe Company will conduct a conference call at 5:00 p.m. Eastern time today. To participate on the conference call, please dial 888-506-0062 toll free from the U.S. or Canada. Other international callers may access the call at 1-973-528-0011. The event ID number is 804808. Investors may also access a live audio webcast of this conference call and replay the call for one year following the webcast, at https://www.webcaster5.com/Webcast/Page/2294/53895.About Non-GAAP Financial MeasuresAdjusted EBITDA is a supplemental financial measure not defined under Generally Accepted Accounting Principles (GAAP). We define Adjusted EBITDA as net income (loss) before net interest expense and bank factoring costs, income taxes, depreciation and amortization, impairment loss on goodwill and other intangibles, stock-based compensation, and certain extraordinary items. We present Adjusted EBITDA because we believe this supplemental measure of operating performance is helpful in comparing our operating results across reporting periods on a consistent basis by excluding items that may or could have a disproportionately positive or negative impact on our results of operations in any particular period. We also use Adjusted EBITDA as a factor in evaluating the performance of certain management personnel when determining incentive compensation.Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA, while providing useful information, should not be considered in isolation or as an alternative to net income or cash flows as determined under GAAP. Consistent with Regulation G under the U.S. federal securities laws, Adjusted EBITDA has been reconciled to the nearest GAAP measure; this reconciliation is located under the heading "Adjusted EBITDA Reconciliation" following the Consolidated Statements of Operations included in this press release. The Company is unable to provide a reconciliation of forward-looking Adjusted EBITDA to GAAP net income because certain reconciling items are outside the Company's control or cannot be reasonably predicted without unreasonable efforts. These items may include stock-based compensation expense, fluctuations in prevailing interest rates and the resulting impacts on bank factoring fees, interest expense and interest income, and other adjustments that may be material.About TSS, Inc.TSS specializes in simplifying the complex. The TSS mission is to streamline the integration and deployment of high-performance computing infrastructure and software, ensuring that end users quickly receive and efficiently utilize the necessary technology. Known for flexibility, the company builds, integrates, and deploys custom, high-volume solutions that empower data centers and catalyze the digital transformation of generative AI and other leading-edge technologies essential for modern computing, data, and business needs. TSS' reputation is built on passion and experience, quality, and fast time to value. As trusted partners of the world's leading data center technology providers, the company manages and deploys billions of dollars in technology each year. For more information, visit www.tssiusa.com.Forward Looking StatementsThis press release may contain "forward-looking statements" -- that is, statements related to future -- not past -- events, plans, and prospects. In this context, forward-looking statements may address matters such as our expected future business and financial performance, and often contain words such as "guidance," "forecast," "prospects," "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could adversely or positively affect our future results include: we may not have sufficient resources to fund our business and may need to issue debt or equity to obtain additional funding; our reliance on a significant portion of our revenues from a limited number of customers and our ability to diversify our customer base; risks relating to operating in a highly competitive industry; risks relating to supply chain challenges; risk related to changes in labor market conditions; risks related to the implementation of a new enterprise resource IT system; risks related to the development of our procurement services business; risks relating to rapid technological, structural, and competitive changes affecting the industries we serve; risks involved in properly managing complex projects; risks relating to the possible cancellation of customer contracts on short notice; risks relating to our ability to continue to implement our strategy, including having sufficient financial resources to carry out that strategy; and other risks and uncertainties disclosed in our filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2025. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.Contacts: Hayden IRTSS, Inc.James Carbonara (646) 755-7412Danny Chism, CFOBrett Maas (646) 536-7331(512) 310-4908tssi@haydenir.comdchism@tssiusa.com-- Tables Follow --TSS, Inc.
Condensed Consolidated Balance Sheets
(In thousands) March 31, 2026 (Unaudited) December 31,2025 Current Assets: Cash and cash equivalents $65,973 $85,510 Contract and other receivables, net 10,582 12,501 Costs and estimated earnings in excess of billings on uncompleted contracts 363 3,011 Inventories, net 8,091 15,966 Restricted cash 1,811 - Prepaid expenses and other current assets 1,886 1,642 Total current assets 88,706 118,630 Property and equipment, net 37,498 38,076 Lease right-of-use asset 14,919 15,294 Goodwill 780 780 Deferred tax asset, net of valuation allowance 7,601 7,917 Other assets 4,073 4,238 Total assets $153,577 $184,935 Current Liabilities: Accounts payable $23,287 $46,362 Accrued expenses and other current liabilities 8,879 6,273 Deferred revenues, current 2,307 13,928 Long-term debt, current 4,084 4,010 Lease liabilities, current 2,049 1,994 Total current liabilities 40,606 72,567 Non-current Liabilities: Long-term debt, non-current 12,959 14,004 Lease liabilities, non-current 21,100 21,629 Deferred revenues, non-current 134 - Other non-current liabilities 102 100 Total non-current liabilities 34,295 35,733 Total liabilities 74,901 108,300 Commitments and Contingencies Stockholders' Equity: Preferred stock - - Common stock 3 3 Additional paid-in capital 121,607 121,842 Treasury stock, at cost - - Accumulated deficit (42,934) (45,210)Total stockholders' equity 78,676 76,635 Total liabilities and stockholders' equity $153,577 $184,935 TSS, Inc.
Consolidated Statements of Operations
(Unaudited, In thousands except per-share values) Three Months Ended March 31, 2026 2025 Revenues: Procurement $39,980 $90,177 Facilities management 1,290 1,298 Systems integration 14,076 7,484 Total revenues 55,346 98,959 Cost of revenues 45,604 89,749 Cost of revenues - depreciation 936 - Total cost of revenues 46,540 89,749 Gross profit 8,806 9,210 Operating expenses: Selling, general and administrative 5,522 4,887 Depreciation and amortization 306 210 Bank factoring fees 704 1,468 Total operating expenses 6,532 6,565 Income from operations 2,274 2,645 Interest expense 333 - Interest income (725) (383)Other expense (income) (1) - Pre-tax income 2,667 3,028 Income tax expense 391 49 Net income $2,276 $2,979 Earnings per common share - Basic $0.08 $0.13 Earnings per common share - Diluted $0.08 $0.12 TSS, Inc.
Adjusted EBITDA Reconciliation (GAAP to non-GAAP)
(Unaudited, In thousands) Three Months Ended March 31, 2026 2025 Net income $2,276 $2,979 Interest expense 333 - Bank factoring fees 704 1,468 Interest income (725) (383)Depreciation and amortization 1,242 210 Income tax expense 391 49 EBITDA $4,221 $4,323 Stock based compensation 1,050 921 Adjusted EBITDA $5,271 $5,244 SOURCE: TSS, Inc.View the original press release on ACCESS NewswireOriginal: TSS Reports First Quarter 2026 Financial Results