TSS, Inc.
For the period ended Dec 31, 2025. Filed Mar 18, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 18, 2026
TSSI$6.96-2.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(in’000)
| Year Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2025 · 2024 · 2023 | ||||||
| Cash Flows from Operating Activities: | ||||||
| Net income | $15,125 | $5,976 | $74 | |||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||
| Depreciation and amortization | 3,765 | 608 | 320 | |||
| Stock-based compensation | 3,956 | 1,235 | 581 | |||
| Provision for inventory reserve | 398 | - | - | |||
| Amortization of debt issuance costs | 62 | - | - | |||
| Non-cash lease expense | 1,979 | 851 | 662 | |||
| Loss on sale or disposal of assets | 658 | - | - | |||
| Changes in operating assets and liabilities: | ||||||
| Contract and other receivables | 3,702 | (12,676) | (782) | |||
| Costs and estimated earnings in excess of billings on uncompleted contracts | (2,160) | 459 | (1,079) | |||
| Inventories | 1,309 | (15,330) | (1,481) | |||
| Prepaid expenses and other assets | (1,075) | (4,004) | (136) | |||
| Deferred tax assets | (7,917) | - | - | |||
| Right-of-use assets | 131 | (21,002) | (7) | |||
| Accounts payable and accrued expenses | (1,640) | 38,978 | (7,254) | |||
| Deferred revenues | 10,544 | 14 | 1,290 | |||
| Operating lease liabilities | 5,926 | 20,187 | (457) | |||
| Other non-current liabilities | 100 | - | - | |||
| Net cash provided by (used in) operating activities | 34,863 | 15,296 | (8,269) | |||
| Cash Flows from Investing Activities: | ||||||
| Capital expenditures | (32,743) | (8,483) | (257) | |||
| Net cash used in investing activities | (32,743) | (8,483) | (257) | |||
| Cash Flows from Financing Activities: | ||||||
| Proceeds from issuance of long-term debt | 16,334 | 8,200 | - | |||
| Repayments of long-term debt | (6,582) | - | - | |||
| Proceeds from exercise of stock options | 17 | 863 | - | |||
| Proceeds from stock issuance, net of offering costs | 55,303 | - | - | |||
| Repurchase of treasury stock | (4,904) | (4,485) | (40) | |||
| Net cash provided by (used in) financing activities | 60,168 | 4,578 | (40) | |||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 62,288 | 11,391 | (8,566) | |||
| Cash, cash equivalents and restricted cash, beginning of period | 23,222 | 11,831 | 20,397 | |||
| Cash, cash equivalents and restricted cash, end of period | $85,510 | $23,222 | $11,831 | |||
| Supplemental disclosures of cash flow information: | ||||||
| Cash paid for interest, net of amounts capitalized | $423 | $ | - | $ | - | |
| Cash paid for bank factoring fees | $3,687 | $2,595 | $1,963 | |||
| Cash paid for taxes: | ||||||
| Federal | $ | - | $ | - | $ | - |
| State: | ||||||
| Texas | 172 | 79 | 47 | |||
| Total cash paid for taxes | $172 | $79 | $47 | |||
| Supplemental non-cash investing activities: | ||||||
| Additions to capital expenditures financed with accounts payable | $935 | $ | - | $ | - | |
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