Filing Flows › TSS (TSSI) › Q1 2025
TSS (TSSI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
TSS (TSSI) reported revenue of $99.0M for the first quarter 2025 (Q1 2025), +523% from a year earlier and +98% from the quarter before. Operating margin was 4.2%, net earnings $3.0M (3.0% of revenue).
TSS, Q1 2025: revenue $99.0M (+523% year over year), operating margin 4.2%, net earnings $3.0M, operating cash flow $20.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $99.0M | +98% | +523% |
| Gross profit | $9.2M | +28% | +239% |
| Operating profit | $4.1M | +49% | 16× |
| Net earnings | $3.0M | +56% | 199× |
| Operating cash flow | $20.6M | — | +680% |
| Free cash flow | $5.8M | — | +121% |
What changed
Revenue was $99.0M in Q1 2025, up 523% year over year and up 98% from the previous quarter. Procurement Revenues Segment was the largest line at 91% of revenue. Procurement Revenues Segment added $78.6M year over year (up 676%), 95% of the total change. Facilities Segment declined 40%.
Gross margin was 9.3%, down 7.8 points from a year earlier. Operating profit was $4.1M, a 4.2% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 5% reached operating profit, above the 2% margin then. Operating expenses grew 107% against revenue growth of 523%. The fastest-growing cost line was Other operating costs (+192%). Net earnings were $3.0M, up 19760% year over year. The effective tax rate was 1.6%.
Operating cash flow was $20.6M (up 680% year over year), 693% of net earnings. Non-cash charges added back $210K of depreciation and amortization and $921K of share-based compensation. Working capital and other items added $16.5M. Capital expenditures of $14.9M left free cash flow of $5.8M.
Questions
What was TSS' revenue in the first quarter 2025?
TSS (TSSI) reported revenue of $99.0M for the first quarter 2025 (Q1 2025), +523% from a year earlier and +98% from the quarter before.
Was TSS profitable in the first quarter 2025?
Operating profit was $4.1M (4.2% of revenue) and net earnings $3.0M.
Source: TSS 10-Q on SEC EDGAR.