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TSS cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$12.6M in Q3 2026 · −$8.8M over twelve months

Operating cash flow−$3.0M
Capital spending−$9.6M
Free cash flow−$12.6M
Cash / net income-2.6×

Analysis

In Q3 2026, TSS generated −$3.0M of operating cash flow and spent $9.6M on capital projects, leaving free cash flow of −$12.6M. That is $12.2M more than in Q3 2025 (−$24.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $6.0M; the largest uses were capital spending ($14.8M), net borrowing (+) / repaid (−) ($8.9M), buybacks ($2.3M); besides operations, cash came from shares issued ($73K); the cash balance fell by $19.9M.

Operating cash flow was −$3.0M against net income of $1.1M — -2.6× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables −$11.8M, inventory +$4.6M, stock-based pay +$1.1M.

Free cash flow

TSS: free cash flow by quarterTSS: free cash flow by quarter−$28.4MQ4 2024$5.8MQ1 2025$5.4MQ2 2025−$24.9MQ3 2025$15.8MQ4 2025−$15.5MQ1 2026$3.6MQ2 2026−$12.6MQ3 2026
Operating cash flow less capital spending.
TSS: operating cash flow against capital spendingTSS: operating cash flow against capital spendingOperating cash flowCapital spending−$21.6M$6.7MQ4 2024$20.6M$14.9MQ1 2025$16.3M$10.9MQ2 2025−$18.4M$6.4MQ3 2025$16.3M$537KQ4 2025−$14.9M$534KQ1 2026$7.6M$4.1MQ2 2026−$3.0M$9.6MQ3 2026
Latest (Q3 2026): Operating cash flow −$3.0M, Capital spending $9.6M.

Capital allocation, year by year

TSS: where the cash came from (up) and went (down), by fiscal yearTSS: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY2021: Operating cash flow −$10.5MFY2021: Net borrowing −$352KFY2021: Shares issued $45KFY2021: Capital spending −$64KFY2021: Buybacks −$197K$45KFY2021FY2022: Operating cash flow $14.7MFY2022: Net borrowing −$2.0MFY2022: Shares issued $41KFY2022: Capital spending −$536KFY2022: Buybacks −$134K$14.8MFY2022FY2023: Operating cash flow −$8.3MFY2023: Capital spending −$257KFY2023: Buybacks −$40KFY2023FY2024: Operating cash flow $15.3MFY2024: Net borrowing $8.2MFY2024: Shares issued $863KFY2024: Capital spending −$8.5MFY2024: Buybacks −$4.5M$24.4MFY2024FY2025: Operating cash flow $34.9MFY2025: Net borrowing $65.1MFY2025: Shares issued $17KFY2025: Capital spending −$32.7MFY2025: Buybacks −$4.9M$99.9MFY2025
Over these 5 years operating cash flow totalled $46.1M; the largest uses were capital spending ($42.1M) and operating cash flow ($18.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$54.0M
Debt$15.4M
Net cash$38.5M
Due within a year$4.0M
Cash runway13 months

TSS is burning cash: its operations consume cash, a free cash flow of −$50.5M a year at the current rate against $54.0M of cash and investments: a runway of about 13 months; $4.0M of debt also comes due within a year, which would need refinancing or new money before any new financing.

TSS: debt maturities by year (FY2025)TSS: debt maturities by year (FY2025)$4.0MYear 1$4.3MYear 2$4.6MYear 3$5.0MYear 4$434KYear 5
Principal due in each year as disclosed in the annual report, against $54.0M of cash and investments now.

Where the cash came from and went

TSS: sources (+) and uses (−) of cash, Q3 2026TSS: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$13.7MCapital spending−$9.6MOperating cash flow−$3.0MNet borrowing (+) / repaid (−)−$1.0MBuybacks−$71K
TSS: sources (+) and uses (−) of cash, TTM to Q3 2026TSS: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)$19.9MCapital spending−$14.8MNet borrowing (+) / repaid (−)−$8.9MOperating cash flow$6.0MBuybacks−$2.3MShares issued$73K

From profit to cash

TSS: net income to operating cash flow, Q3 2026TSS: net income to operating cash flow, Q3 2026Net income$1.1MDepreciation & amortization$356KStock-based pay$1.1MGains on disposals$285KInventory$4.6MPayables−$11.8MDeferred revenue−$562KPrepaid and other assets$163KOther liabilities−$6KOperating cash flow−$3.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20263242103-29
Q1 2026192367-25
Q4 2025212582-36
Q3 20253232137-73
Q2 20252643149-80
Q1 2025121943-11
Q4 2024222474-28

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$3.0M−$9.6M−$71K−$1.0M—$13.7M−$12.6M
Q2 2026$7.6M−$4.1M−$861K−$991K—−$1.7M$3.6M
Q1 2026−$14.9M−$534K−$1.4M−$979K$73K$17.7M−$15.5M
Q4 2025$16.3M−$537K−$10K−$6.0M—−$9.8M$15.8M
Q3 2025−$18.4M−$6.4M−$974K$4.4M$10K−$33.9M−$24.9M
Q2 2025$16.3M−$10.9M−$2.3M——−$14.5M$5.4M
Q1 2025$20.6M−$14.9M−$1.7M—$7K−$4.1M$5.8M
Q4 2024−$21.6M−$6.7M−$3.7M—$671K$23.2M−$28.4M

TSS: income statement and cash flow

TSS, Q3 2026: revenue $50.1M (+20% year over year), operating margin 2.3%. The chart follows the revenue to costs, profit and cash.

TSS: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.