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Teamshares (TMS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Teamshares (TMS) Q2 2026 earnings results →
Q2 2026 Revenue up 20% year over year to $149M · 6¢ of every $1 of revenue kept as net profit · operating margin 2.0%
Teamshares made $149M in Q2 2026 (+20% Y/Y): Products $113M, Services $36.1M. Operating margin 2.0%, net earnings $9.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
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What changed this quarter
Revenue was $148.7M in Q2 2026, up 20% year over year. Products was the largest line at 76% of revenue. Products added $27.3M year over year (up 32%), 109% of the total change. Services declined 6%.
Gross margin was 41.3%, up 1.6 points from Q2 2025. Operating profit was $3.0M, a 2.0% margin (up 5.9 points year over year). Operating expenses grew 8% against revenue growth of 20%. The fastest-growing cost line was SG&A (+17%). Net earnings were $9.2M. The effective tax rate was 5.9%. Non-operating items added $7.1M, 70% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$4.9M. Non-cash charges added back $1.1M of depreciation and $1.1M of share-based compensation. Working capital and other items used $16.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $149M | +20% | 2.0% | $9.2M | −$4.9M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $124M | — | -0.3% | −$12.9M | −$68K |
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🔄Rotation against the market and its industry (RRG)interactive
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About Teamshares
We are a blank check company formed on November 27, 2024 as a Cayman Islands exempted company and for the purpose of effecting a Business Combination with one or more businesses or entities. While we may pursue an initial Business Combination in any business or industry, we have focused on capitalizing on the operational and investment experience of our Management Team and Senior Advisor. We have focused on companies that we believe have significant growth prospects with the potential to generate attractive returns for our shareholders, including companies with above-industry-average growth, substantial free cash flow generation, and a defensible market position, with an enterprise value of $500 million to $2 billion where our Management Team and Senior Advisor’s operational, strategic or managerial expertise can assist in maximizing value.
In its own words, from its 10-K, filed Mar 30, 2026.
Teamshares against its Retail-Miscellaneous Retail peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +20% against the peers' median +18%. Operating margin: 2.0% against the peers' median 9.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TMS Teamshares | Q2 2026 | $149M | +20% | 2.0% |
| FCFS FirstCash Holdings | Q3 2026 | $1.1B | +18% | 12.6% |
| SVV Savers Value Village | Q3 2026 | $463M | +8% | 9.8% |
| EZPW Ezcorp | Q3 FY26 | $419M | +35% | 13.1% |
| SPH Suburban Propane Partners LP | Q3 FY26 | $261M | +0.5% | 0.9% |
| REAL TheRealReal | Q3 2026 | $206M | +19% | 0.7% |
| LIVE Live Ventures | Q3 FY26 | $109M | -3% | 4.9% |
| PLBY Playboy | Q3 2026 | $31.7M | +9% | 12.6% |
| WINA Winmark | Q3 2026 | $27.9M | +23% | 56.6% |
Source: Teamshares 10-Q on SEC EDGAR · CIK 2048951 · Retail-Miscellaneous Retail
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History
Every quarter: Q2 2026 results · Q2 2025 results