Filing Flows › TSS (TSSI) › Q3 2025
TSS (TSSI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
TSS (TSSI) reported revenue of $41.9M for the third quarter 2025 (Q3 2025), -40% from a year earlier and -5% from the quarter before. Operating margin was -2.2%, net loss $1.5M (3.6% of revenue).
TSS, Q3 2025: revenue $41.9M (-40% year over year), operating margin -2.2%, net loss $1.5M, operating cash flow −$18.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $41.9M | -5% | -40% |
| Operating profit | −$931K | -168% | — |
| Net earnings | −$1.5M | -201% | — |
| Operating cash flow | −$18.4M | -213% | — |
What changed
Revenue was $41.9M in Q3 2025, down 40% year over year and down 5% from the previous quarter. Procurement Revenues Segment was the largest line at 74% of revenue. Procurement Revenues Segment lost $29.4M year over year (down 49%), 104% of the total change.
Gross margin was 11.1%, down 0.2 points from a year earlier. Operating costs exceeded revenue by $931K, an operating margin of -2.2%. Operating expenses grew 36% against a revenue fall of 40%. The fastest-growing cost line was Other operating costs (+58%). The quarter ended with a net loss of $1.5M, after a profit of $1.5M the previous quarter.
Operating cash flow was −$18.4M. Non-cash charges added back $328K of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $18.3M. Capital expenditures of $6.4M exceeded it, leaving free cash flow of −$24.9M.
Questions
What was TSS' revenue in the third quarter 2025?
TSS (TSSI) reported revenue of $41.9M for the third quarter 2025 (Q3 2025), -40% from a year earlier and -5% from the quarter before.
Was TSS profitable in the third quarter 2025?
Operating loss was $931K (-2.2% of revenue) and net loss $1.5M.
Source: TSS 10-Q on SEC EDGAR.