TSS (TSSI)
Market Price (10/10/2026): $9.7 | Market Cap: $272.5 MilSector: Information Technology | Industry: IT Consulting & Other Services
TSS (TSSI)
Market Price (10/10/2026): $9.7Market Cap: $272.5 MilSector: Information TechnologyIndustry: IT Consulting & Other Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% Megatrend and thematic driversMegatrends include Artificial Intelligence, and Cloud Computing. Themes include Data Centers & Infrastructure, Infrastructure as a Service (IaaS), Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -27%, Rev Chg QQuarterly Revenue Change % is -20% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -11% High stock price volatilityVol 12M is 102% Key risksTSSI key risks include [1] an extreme customer concentration with a single OEM partner, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, and Cloud Computing. Themes include Data Centers & Infrastructure, Infrastructure as a Service (IaaS), Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -27%, Rev Chg QQuarterly Revenue Change % is -20% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -11% |
| High stock price volatilityVol 12M is 102% |
| Key risksTSSI key risks include [1] an extreme customer concentration with a single OEM partner, Show more. |
Qualitative Assessment
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TSS (TSSI) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. TSS (TSSI) experienced a significant decline in its stock price following the announcement of its fiscal Q2 2026 financial results on August 13, 2026. The company reported diluted earnings per share (EPS) of $0.05, missing the Zacks Consensus Estimate of $0.08, representing a negative surprise of 37.50%. Additionally, total revenue for fiscal Q2 2026 was $35.1 million, which fell short of analyst estimates of $47.09 million and marked a 20% year-over-year decrease. This top-line miss contributed to a stock price plunge of 19.2% to 23.5% immediately after the earnings release.
2. The substantial revenue decrease was primarily attributed to a strategic shift away from lower-margin procurement services. In fiscal Q2 2026, procurement revenue fell by 45% year-over-year to $18.2 million, as TSS intentionally de-emphasized this segment to focus on higher-margin offerings. This strategic pivot, while intended to improve long-term profitability, resulted in a significant reduction in overall reported revenue.
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TSS (TSSI) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. TSS (TSSI) experienced a significant decline in its stock price following the announcement of its fiscal Q2 2026 financial results on August 13, 2026. The company reported diluted earnings per share (EPS) of $0.05, missing the Zacks Consensus Estimate of $0.08, representing a negative surprise of 37.50%. Additionally, total revenue for fiscal Q2 2026 was $35.1 million, which fell short of analyst estimates of $47.09 million and marked a 20% year-over-year decrease. This top-line miss contributed to a stock price plunge of 19.2% to 23.5% immediately after the earnings release.
2. The substantial revenue decrease was primarily attributed to a strategic shift away from lower-margin procurement services. In fiscal Q2 2026, procurement revenue fell by 45% year-over-year to $18.2 million, as TSS intentionally de-emphasized this segment to focus on higher-margin offerings. This strategic pivot, while intended to improve long-term profitability, resulted in a significant reduction in overall reported revenue.
3. Investor reaction heavily prioritized the top-line revenue miss despite improvements in profitability and a reaffirmed positive outlook for higher-margin services. Despite the 20% decline in total revenue in fiscal Q2 2026, TSS demonstrated an 11% year-over-year increase in gross profit to $8.0 million and a 12% rise in adjusted EBITDA to $4.5 million. This was driven by robust growth in higher-margin systems integration revenue, which surged 46% year-over-year to $13.9 million, and facilities management revenue, which grew 84% to $2.7 million. Management also reiterated its full-year 2026 adjusted EBITDA guidance towards the upper end of $20 million to $22 million, anticipating a stronger second half of 2026 due to a $17 million investment in AI data center technology, expected to convert into higher systems integration revenues beginning in fiscal Q3 2026. However, the market's immediate focus on the revenue shortfall overshadowed these underlying improvements and future growth prospects.
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Stock Movement Drivers
Fundamental Drivers
The -21.1% change in TSSI stock from 6/30/2026 to 10/9/2026 was primarily driven by a -20.5% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10092026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.30 | 9.70 | -21.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 202 | 193 | -4.4% |
| Net Income Margin (%) | 7.1% | 7.4% | 4.2% |
| P/E Multiple | 23.8 | 19.0 | -20.5% |
| Shares Outstanding (Mil) | 28 | 28 | -0.5% |
| Cumulative Contribution | -21.1% |
Market Drivers
6/30/2026 to 10/9/2026| Return | Correlation | |
|---|---|---|
| TSSI | -21.1% | |
| Market (SPY) | 4.3% | 41.6% |
| Sector (XLK) | 4.3% | 54.4% |
Fundamental Drivers
The -25.4% change in TSSI stock from 3/31/2026 to 10/9/2026 was primarily driven by a -21.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312026 | 10092026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.01 | 9.70 | -25.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 246 | 193 | -21.3% |
| Net Income Margin (%) | 6.2% | 7.4% | 20.8% |
| P/E Multiple | 23.5 | 19.0 | -19.2% |
| Shares Outstanding (Mil) | 27 | 28 | -2.8% |
| Cumulative Contribution | -25.4% |
Market Drivers
3/31/2026 to 10/9/2026| Return | Correlation | |
|---|---|---|
| TSSI | -25.4% | |
| Market (SPY) | 20.0% | 40.7% |
| Sector (XLK) | 49.7% | 44.4% |
Fundamental Drivers
The -46.4% change in TSSI stock from 9/30/2025 to 10/9/2026 was primarily driven by a -59.9% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10092026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.11 | 9.70 | -46.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 263 | 193 | -26.5% |
| Net Income Margin (%) | 3.4% | 7.4% | 116.8% |
| P/E Multiple | 47.3 | 19.0 | -59.9% |
| Shares Outstanding (Mil) | 24 | 28 | -16.1% |
| Cumulative Contribution | -46.4% |
Market Drivers
9/30/2025 to 10/9/2026| Return | Correlation | |
|---|---|---|
| TSSI | -46.4% | |
| Market (SPY) | 17.8% | 41.1% |
| Sector (XLK) | 41.6% | 40.8% |
Fundamental Drivers
The 781.8% change in TSSI stock from 9/30/2023 to 10/9/2026 was primarily driven by a 381.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10092026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.10 | 9.70 | 781.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 40 | 193 | 381.6% |
| P/S Multiple | 0.6 | 1.4 | 138.4% |
| Shares Outstanding (Mil) | 22 | 28 | -23.2% |
| Cumulative Contribution | 781.8% |
Market Drivers
9/30/2023 to 10/9/2026| Return | Correlation | |
|---|---|---|
| TSSI | 781.8% | |
| Market (SPY) | 88.4% | -1.4% |
| Sector (XLK) | 146.8% | 0.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TSSI Return | 0% | 0% | 0% | 978% | -40% | 41% | 806% |
| Peers Return | 41% | 10% | 123% | 71% | 31% | 42% | 1003% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| TSSI Win Rate | 0% | 0% | 0% | 17% | 42% | 70% | |
| Peers Win Rate | 67% | 38% | 73% | 67% | 57% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TSSI Max Drawdown | 0% | 0% | 0% | -71% | -78% | -54% | |
| Peers Max Drawdown | -24% | -35% | -23% | -25% | -45% | -32% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRT, FIX, ETN, MOD, CDW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/9/2026 (YTD)
How Low Can It Go
| Event | TSSI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -58.8% | -18.8% |
| % Gain to Breakeven | 142.6% | 23.1% |
| Time to Breakeven | 42 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.1% | -33.7% |
| % Gain to Breakeven | 47.3% | 50.9% |
| Time to Breakeven | 1704 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -43.1% | -0.2% |
| % Gain to Breakeven | 75.7% | 0.2% |
| Time to Breakeven | 1784 days | 1 days |
In The Past
TSS's stock fell -58.8% during the 2025 US Tariff Shock. Such a loss loss requires a 142.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | TSSI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -58.8% | -18.8% |
| % Gain to Breakeven | 142.6% | 23.1% |
| Time to Breakeven | 42 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.1% | -33.7% |
| % Gain to Breakeven | 47.3% | 50.9% |
| Time to Breakeven | 1704 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -43.1% | -0.2% |
| % Gain to Breakeven | 75.7% | 0.2% |
| Time to Breakeven | 1784 days | 1 days |
In The Past
TSS's stock fell -58.8% during the 2025 US Tariff Shock. Such a loss loss requires a 142.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About TSS (TSSI)
TSS, Inc. (TSSI) is a technology services company headquartered in Round Rock, Texas, specializing in the comprehensive lifecycle management of critical IT infrastructure. Operating through its Facilities and Systems Integration segments, the company offers end-to-end solutions covering the planning, design, deployment, ongoing maintenance, and refurbishment of complex end-user and enterprise systems.
The company provides a single-source solution for enabling technologies essential to mission-critical environments. This includes services for data centers, operations centers, network facilities, server rooms, security operations centers, and other communications infrastructure. Its core offerings encompass technology consulting, design and engineering, project management, systems integration and installation, facilities management, and IT procurement and reseller services.
TSS serves a broad range of clients, demonstrating its integral role across various sectors. Its primary customer base includes IT OEM equipment manufacturers, technology and service companies, private sector businesses, and diverse government and commercial end users.
```AI Analysis | Feedback
Here are 1-3 brief analogies for TSS (TSSI):
Think of them as a **CBRE or JLL**, but exclusively focused on managing and maintaining the physical infrastructure of critical IT environments like data centers.
They're like an **Accenture or IBM Global Services**, but specialized in the design, engineering, and integration of the underlying IT infrastructure for mission-critical facilities.
AI Analysis | Feedback
- Technology Consulting: Offers expert advice and strategic guidance on technology solutions and infrastructure planning.
- Design and Engineering: Provides architectural and engineering services for critical facilities and IT systems.
- Project Management: Oversees and manages technology projects from conception through completion, ensuring timely and budget-compliant delivery.
- Systems Integration: Connects and optimizes disparate IT systems and components to function as a cohesive solution.
- Systems Installation: Deploys and sets up IT equipment and infrastructure within client facilities.
- Facilities Management: Provides ongoing operational management and maintenance services for mission-critical facilities.
- IT Procurement and Reseller Services: Sources, acquires, and resells IT OEM equipment, technology, and related services for clients.
AI Analysis | Feedback
TSS, Inc. (TSSI) primarily sells its services to other companies and government entities, rather than directly to individuals. The company serves the following categories of customers:
- IT OEM equipment, technology, and service companies
- Private sector businesses
- Government or commercial end users
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AI Analysis | Feedback
Darryll Dewan has served as Chief Executive Officer and President of TSS, Inc. since November 2022. Prior to joining TSS, he was Vice President Global Sales and Field Marketing at DELL Technologies from 2012 to 2022, where he led global direct and indirect sales, field operations, and marketing for Dell's Endpoint Data Security business. He also held executive-level sales and service roles as EVP Global Sales with Credant Technologies, Inc., Group President of VA Software Solutions, and President of i2 Technologies. His early career was spent at IBM. Credant Technologies, Inc. was acquired by Dell in 2012. i2 Technologies was acquired by JDA Software (now Blue Yonder) in 2010.
Danny Chism, Chief Financial Officer
Danny Chism leads the financial operations at TSS, including planning, risk management, reporting, treasury, tax, and investor relations. Before joining TSS, Mr. Chism served as CFO at Goodwill Industries of Central Texas, EZCORP, Inc., Cash Solutions Centers, and Gatsby Investments. Earlier in his career, he worked in the audit department of Ernst and Young.
Todd Marrott, Chief Operating Officer
Todd Marrott was promoted to Chief Operating Officer after being hired as Senior Vice President – Operations in November 2022. From 2019 to 2022, he served as Vice President – Operations for Applied Technical Services, a privately held full-turnkey electronics manufacturer. He has also been involved in transforming business operations at companies such as Flex, Solectron, and Moduslink, managing multiple operational sites globally.
Janet Morrison, Chief People Officer
Janet Morrison is a highly experienced Human Resources professional with over 20 years of expertise. Her background includes extensive experience in employee relations, talent management, diversity, organizational development, and global HR strategies.
Brett Maryott, Chief Security Officer
Brett Maryott serves as the Chief Security Officer for TSS, Inc.
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The key risks to TSS, Inc. (TSSI) include:
- High Customer Concentration: TSS, Inc. is heavily reliant on a single OEM customer, which accounted for a substantial majority of its total revenues in recent years (99% in 2024 and 96% in 2023). This concentration poses a significant risk, as any reduction in business or termination of the relationship with this customer could severely impact the company's revenues, financial condition, and operational results.
- Supply Chain Disruptions and Component Shortages: The company faces ongoing challenges related to global supply chain disruptions, particularly concerning the availability and pricing of essential components like memory chips for AI-enabled computer racks. These disruptions can lead to increased costs, delays in project execution, and an inability to meet customer demand, thereby hindering growth opportunities and impacting profitability.
- Contractual Risk with Primary OEM: There is a risk of a material breach or termination of the multi-year rack integration agreement with its primary OEM partner. Such an event could lead to significant financial obligations for TSS, Inc. without corresponding revenues, which would materially and adversely affect its results of operations, financial condition, and cash flows. This risk is closely tied to the high customer concentration.
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The accelerating shift of enterprise IT workloads and infrastructure to hyperscale public cloud providers (e.g., AWS, Microsoft Azure, Google Cloud).
TSS specializes in providing services for the planning, design, deployment, maintenance, and refurbishment of on-premise end-user and enterprise systems, including mission-critical facilities like data centers, server rooms, and network facilities. As more businesses migrate their IT operations to external cloud platforms, they reduce their reliance on and investment in building, maintaining, and upgrading their own physical, on-premise infrastructure. This directly shrinks the core market for TSS's specialized facilities and systems integration services, as the cloud providers effectively become the "facilities" and "systems" providers, taking on many of the responsibilities that TSS traditionally handles for individual enterprises.
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TSS, Inc. operates in several significant addressable markets, primarily within the United States and globally, for its facilities and systems integration services. The key markets and their estimated sizes are as follows:
-
Data Center Services: The global data center services market was estimated at USD 24.8 billion in 2024 and is projected to grow to USD 102.5 billion by 2034, at a compound annual growth rate (CAGR) of 15.2% from 2025-2034. North America dominated the global market with a 37% market share in 2024. Within North America, the U.S. held approximately 85% share in 2024, generating USD 7.7 billion in revenue. Another report estimated the global data center services market size at USD 26.51 billion in 2025 and projected it to reach USD 55.18 billion by 2033. For the U.S. specifically, the data center market size was valued at USD 54.7 billion in 2025 and is estimated to reach USD 116.9 billion by 2034.
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Facilities Management Services: The global facility management market was valued at USD 1,367.96 billion in 2025 and is projected to grow to USD 2,750.87 billion by 2034, exhibiting a CAGR of 8.50%. Another report indicated the global facility management services market size was valued at USD 1.75 trillion in 2024 and is projected to reach USD 2.33 trillion by 2033. The U.S. facility management market was estimated at around USD 365.93 billion in 2025, with projections to reach USD 434.16 billion by 2031, growing at a CAGR of 2.89%. The U.S. market is also projected to grow from USD 14.9 billion in 2025 to USD 30.6 billion by 2030, at a CAGR of 15.5%.
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System Integration Services: The global system integration market size was estimated at USD 516.8 billion in 2024 and is predicted to increase to approximately USD 1,946.37 billion by 2034, expanding at a CAGR of 14.18% from 2025 to 2034. North America dominated the market, accounting for more than 36% of the revenue share in 2024. The U.S. system integration market generated a revenue of USD 109,617.9 million in 2023 and is expected to reach USD 243,085.8 million by 2030, with a CAGR of 12% from 2024 to 2030. Another source states the U.S. system integration market size was USD 130.23 billion in 2024 and is projected to reach around USD 500.85 billion by 2034, with a CAGR of 14.42% from 2025 to 2034.
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IT Infrastructure Services: The global IT infrastructure services market size was valued at USD 104.35 billion in 2024 and is estimated to reach USD 236.18 billion by 2033, growing at a CAGR of 9.5% during the forecast period (2025-2033). North America leads the global IT infrastructure services market due to strong enterprise IT spending and widespread cloud use.
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TSS, Inc. (TSSI) is expected to experience future revenue growth over the next 2-3 years driven by several key factors, primarily centered around the expanding Artificial Intelligence (AI) and high-performance computing (HPC) markets.
- Surging Demand for AI and High-Performance Computing Infrastructure: The accelerating market for AI and cloud infrastructure solutions is a primary catalyst for TSS's growth. The company is strategically positioned to capitalize on the increasing investments in these areas, as enterprises move from AI experimentation to scaled deployments.
- Expansion of Systems Integration and AI Rack Integration Capacity: TSS's new Georgetown facility and its enhanced capabilities for AI server rack integration are expected to drive significant growth. The company has also amended and extended a long-term AI rack integration agreement with its largest customer for an additional two years, securing substantial future revenue and anticipating a doubling of AI rack integration volumes in 2026.
- Strategic Positioning for Complex AI Infrastructure: As AI chip functionality improves, the associated increase in size, complexity, and cooling requirements of AI racks aligns well with TSS's specialized strengths, capabilities, and capacities. This positions the company to benefit from the evolving technological demands of advanced AI infrastructure.
- Growth in Higher-Margin Services and Modular Data Center Solutions: While procurement services are a significant revenue component, TSS is focusing on expanding its higher-margin Systems Integration and Facilities Management services. The company also plans to expand its modular data center capabilities into the AI sector in 2026, which could contribute to a more favorable revenue mix and overall growth.
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Share Repurchases
- TSS, Inc. repurchased $4.9 million of treasury stock in full-year 2025, primarily as employees net settled upon vesting in restricted stock and option exercises.
- The company's quarterly share repurchases increased significantly in 2024 and 2025, reaching $3.73 million in Q4 2024 and $2.27 million in Q4 2025.
Share Issuance
- In August 2025, TSS, Inc. completed a secondary offering of common stock, raising $55.3 million in net proceeds to fund future strategic growth opportunities.
- In January 2026, the company granted restricted shares to its Chief Financial Officer and Senior Vice President.
Inbound Investments
- In Q4 2025, TSS, Inc. received $6.8 million from its landlord for tenant improvements.
Capital Expenditures
- TSS, Inc. reported $32.7 million in capital expenditures for the full year 2025.
- A primary focus of these expenditures was the new Georgetown, Texas facility, which became operational mid-year 2025, designed for AI rack integration and equipped with up to 15 MW of electrical power capacity.
- The Georgetown facility involved a capital investment of $25-30 million, with production initiated in Q1 2025.
Peer Outperformance in IT Consulting & Other Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 58.4% | 176.0% | 381.8% | TTMI 816% · FLEX 771% · SANM 450% |
| Semiconductor Materials & Equipment | 27 | 82.0% | 102.5% | 122.7% | AXTI 749% · KLAC 530% · LRCX 510% |
| Technology Distributors | 9 | 51.0% | 89.9% | 94.2% | CLMB 428% · AVT 205% · SNX 177% |
| Electronic Components | 26 | 29.3% | 71.5% | 73.9% | CLS 3782% · BELFA 1287% · COHR 446% |
| Communications Equipment | 36 | 2.5% | 98.2% | 71.9% | AAOI 1515% · LITE 1211% · ANET 832% |
| Semiconductors | 55 | 18.5% | 49.9% | 31.1% | POET 1611% · MU 1403% · NVDA 1006% |
| Technology Hardware, Storage & Peripherals | 20 | 20.4% | 116.6% | 28.0% | DELL 1119% · SMCI 1035% · STX 1029% |
| Internet Services & Infrastructure | 6 | -2.3% | 43.2% | 26.9% | DOCN 61% · VRSN 50% · GDDY 49% |
| Electronic Equipment & Instruments | 26 | -18.4% | 25.6% | -7.7% | PI 260% · KEYS 137% · VPG 106% |
| IT Consulting & Other Services ← | 28 | -22.1% | -11.9% | -19.8% | CHRN 489111% · APLD 821% · TSSI 782% |
| Application Software | 125 | -24.2% | -16.2% | -43.3% | VIDA 1469900% · INLX 4550% · PLTR 790% |
| Systems Software | 71 | -14.6% | 25.0% | -51.9% | QNC 589% · PAYS 487% · PANW 410% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| TSS Earnings Notes | 12/16/2025 | |
| Is TSS Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 212.31 |
| Mkt Cap | 39.2 |
| Rev LTM | 11,354 |
| Op Inc LTM | 1,763 |
| FCF LTM | 1,510 |
| FCF 3Y Avg | 1,113 |
| CFO LTM | 1,766 |
| CFO 3Y Avg | 1,276 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.9% |
| Rev Chg 3Y Avg | 17.3% |
| Rev Chg Q | 22.8% |
| QoQ Delta Rev Chg LTM | 5.6% |
| Op Inc Chg LTM | 13.4% |
| Op Inc Chg 3Y Avg | 39.3% |
| Op Mgn LTM | 13.7% |
| Op Mgn 3Y Avg | 12.0% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 12.1% |
| CFO/Rev 3Y Avg | 11.3% |
| FCF/Rev LTM | 8.4% |
| FCF/Rev 3Y Avg | 8.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Procurement | 197 | 118 | 39 | ||
| Systems integration | 40 | 23 | 9 | 20 | 20 |
| Facilities Management | 8 | 8 | 7 | 10 | 7 |
| Total | 246 | 148 | 54 | 31 | 27 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Procurement | 8 | ||||
| Systems integration | 6 | 0 | -1 | -1 | -2 |
| Facilities Management | 4 | 1 | 2 | 0 | 1 |
| Total | 18 | 2 | 1 | -1 | -0 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 86 | 23 | |||
| Systems integration | 45 | 26 | 7 | 4 | 3 |
| Procurement | 26 | 19 | |||
| Lease right-of-use asset | 15 | 24 | |||
| Deferred tax asset, net | 8 | 0 | |||
| Other assets | 3 | 3 | |||
| Prepaid expenses and other current assets | 2 | 0 | |||
| Facilities Management | 1 | 1 | 1 | 1 | 1 |
| Property and equipment, net | 0 | 0 | |||
| Other receivables | 0 | 0 | |||
| Other consolidated activities | 18 | 27 | 15 | ||
| Total | 185 | 97 | 26 | 31 | 19 |
Price Behavior
| Market Price | $9.70 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 04/01/2010 | |
| Distance from 52W High | -52.1% | |
| 50 Days | 200 Days | |
| DMA Price | $9.47 | $10.95 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 2.4% | -11.4% |
| 3M | 1YR | |
| Volatility | 76.9% | 102.2% |
| Downside Capture | 305.40 | 430.39 |
| Upside Capture | 170.39 | 275.20 |
| Correlation (SPY) | 41.5% | 41.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.19 | 2.41 | 2.93 | 3.07 | 3.24 | -1.83 |
| Up Beta | 5.79 | 3.40 | 5.89 | 3.75 | 4.14 | 1.96 |
| Down Beta | 5.09 | 1.24 | 0.84 | 0.61 | 1.84 | 2.00 |
| Up Capture | 122% | 224% | 194% | 370% | 745% | 421% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 11 | 17 | 27 | 52 | 115 | 223 |
| Down Capture | -187% | 251% | 287% | 292% | 187% | 97% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 11 | 25 | 37 | 74 | 136 | 243 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TSSI | |
|---|---|---|---|---|
| TSSI | -52.6% | 102.1% | -0.23 | - |
| Sector ETF (XLK) | 37.5% | 26.5% | 1.17 | 40.9% |
| Equity (SPY) | 16.7% | 13.0% | 0.91 | 41.4% |
| Gold (GLD) | 3.3% | 29.5% | 0.11 | 18.8% |
| Commodities (DBC) | 44.8% | 20.9% | 1.67 | -1.0% |
| Real Estate (VNQ) | 4.8% | 13.8% | 0.09 | 5.0% |
| Bitcoin (BTCUSD) | -33.8% | 44.2% | -0.81 | 37.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TSSI | |
|---|---|---|---|---|
| TSSI | -4.6% | 122.0% | 0.45 | - |
| Sector ETF (XLK) | 22.2% | 25.9% | 0.75 | 39.0% |
| Equity (SPY) | 13.9% | 17.1% | 0.62 | 36.9% |
| Gold (GLD) | 18.5% | 18.9% | 0.79 | 4.6% |
| Commodities (DBC) | 10.0% | 19.6% | 0.39 | -0.2% |
| Real Estate (VNQ) | 1.3% | 18.8% | -0.04 | 11.5% |
| Bitcoin (BTCUSD) | 11.2% | 52.0% | 0.39 | 20.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TSSI | |
|---|---|---|---|---|
| TSSI | -3.4% | 108.5% | 0.37 | - |
| Sector ETF (XLK) | 24.9% | 25.0% | 0.90 | 38.5% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 34.6% |
| Gold (GLD) | 11.8% | 16.4% | 0.59 | 5.7% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 4.9% |
| Real Estate (VNQ) | 4.5% | 20.7% | 0.18 | 17.9% |
| Bitcoin (BTCUSD) | 63.3% | 66.2% | 1.03 | 16.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | -19.1% | -26.5% | -29.3% |
| 5/7/2026 | -24.1% | -28.5% | -15.8% |
| 3/11/2026 | 8.1% | 6.1% | 18.7% |
| 11/13/2025 | -43.3% | -49.2% | -51.0% |
| 8/6/2025 | -23.1% | -37.9% | -52.3% |
| 5/15/2025 | 74.1% | 38.1% | 143.5% |
| 3/27/2025 | -3.1% | -21.4% | -14.2% |
| 11/14/2024 | -24.4% | -39.0% | -19.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 17 | 17 | 17 |
| # Negative | 6 | 6 | 6 |
| Median Positive | 0.0% | 0.0% | 0.0% |
| Median Negative | -23.6% | -33.2% | -24.6% |
| Max Positive | 74.1% | 38.1% | 143.5% |
| Max Negative | -43.3% | -49.2% | -52.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | -19.1% | -26.5% | -29.3% |
| 5/7/2026 | -24.1% | -28.5% | -15.8% |
| 3/11/2026 | 8.1% | 6.1% | 18.7% |
| 11/13/2025 | -43.3% | -49.2% | -51.0% |
| 8/6/2025 | -23.1% | -37.9% | -52.3% |
| 5/15/2025 | 74.1% | 38.1% | 143.5% |
| 3/27/2025 | -3.1% | -21.4% | -14.2% |
| 11/14/2024 | -24.4% | -39.0% | -19.9% |
| 8/14/2024 | 0.0% | 0.0% | 0.0% |
| 5/14/2024 | 0.0% | 0.0% | 0.0% |
| 3/28/2024 | 0.0% | 0.0% | 0.0% |
| 11/13/2023 | 0.0% | 0.0% | 0.0% |
| 8/14/2023 | 0.0% | 0.0% | 0.0% |
| 5/15/2023 | 0.0% | 0.0% | 0.0% |
| 11/14/2022 | 0.0% | 0.0% | 0.0% |
| 8/15/2022 | 0.0% | 0.0% | 0.0% |
| 5/16/2022 | 0.0% | 0.0% | 0.0% |
| 3/30/2022 | 0.0% | 0.0% | 0.0% |
| 11/15/2021 | 0.0% | 0.0% | 0.0% |
| 8/16/2021 | 0.0% | 0.0% | 0.0% |
| 5/17/2021 | 0.0% | 0.0% | 0.0% |
| 3/29/2021 | 0.0% | 0.0% | 0.0% |
| 11/16/2020 | 0.0% | 0.0% | 0.0% |
| SUMMARY STATS | |||
| # Positive | 17 | 17 | 17 |
| # Negative | 6 | 6 | 6 |
| Median Positive | 0.0% | 0.0% | 0.0% |
| Median Negative | -23.6% | -33.2% | -24.6% |
| Max Positive | 74.1% | 38.1% | 143.5% |
| Max Negative | -43.3% | -49.2% | -52.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/15/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/15/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/30/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 03/29/2021 | 10-K |
| 09/30/2020 | 11/16/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 03/24/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
Recent Forward Guidance
Updated 10/8/2026Latest: Q2 2026 Earnings Reported 8/13/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | Reported | 20.00 Mil | 21.00 Mil | 22.00 Mil | 0 | Affirmed | Guidance: 21.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | Reported | 20.00 Mil | 21.00 Mil | 22.00 Mil | 0 | Affirmed | Guidance: 21.00 Mil for 2026 | |
Q4 2025 Earnings Reported 3/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | Reported | 20.00 Mil | 21.00 Mil | 22.00 Mil | ||||
Q3 2025 Earnings Reported 11/13/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Adjusted EBITDA Growth | Reported | 50.0% | 62.5% | 75.0% | -12.5% | Lowered | Guidance: 75.0% for 2025 | |
Insider Activity
Updated 10/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Woodward, Peter H | Shares held through MHW Partners, L.P. | Sell | 6022026 | 16.07 | 200,000 | 3,214,000 | 15,805,182 | Form | |
| 2 | Woodward, Peter H | Shares held through MHW SVP II, LLC | Sell | 6022026 | 15.48 | 100,000 | 1,548,000 | 17,245,664 | Form | |
| 3 | Brennan, Kieran | Senior Vice President | Direct | Sell | 6022026 | 16.00 | 10,000 | 160,014 | 4,341,708 | Form |
| 4 | Dewan, Darryll E | Chief Executive Officer | Direct | Sell | 5082026 | 17.00 | 50,000 | 850,000 | 7,726,007 | Form |
| 5 | Dewan, Darryll E | Chief Executive Officer | Direct | Sell | 4242026 | 16.00 | 50,000 | 800,000 | 8,071,536 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Woodward, Peter H | Shares held through MHW Partners, L.P. | Sell | 6022026 | 16.07 | 200,000 | 3,214,000 | 15,805,182 | Form | |
| 2 | Woodward, Peter H | Shares held through MHW SVP II, LLC | Sell | 6022026 | 15.48 | 100,000 | 1,548,000 | 17,245,664 | Form | |
| 3 | Brennan, Kieran | Senior Vice President | Direct | Sell | 6022026 | 16.00 | 10,000 | 160,014 | 4,341,708 | Form |
| 4 | Dewan, Darryll E | Chief Executive Officer | Direct | Sell | 5082026 | 17.00 | 50,000 | 850,000 | 7,726,007 | Form |
| 5 | Dewan, Darryll E | Chief Executive Officer | Direct | Sell | 4242026 | 16.00 | 50,000 | 800,000 | 8,071,536 | Form |
| 6 | Dewan, Darryll E | Chief Executive Officer | Direct | Sell | 4162026 | 15.00 | 50,000 | 750,000 | 8,317,065 | Form |
| 7 | Chism, Daniel M | Chief Financial Officer | Direct | Sell | 4162026 | 15.00 | 25,000 | 375,000 | 5,073,225 | Form |
| 8 | Brennan, Kieran | Senior Vice President | Direct | Sell | 3172026 | 12.27 | 12,000 | 147,240 | 3,425,011 | Form |
| 9 | Woodward, Peter H | Shares held through MHW Capital Management LLC | Sell | 12112025 | 8.30 | 21,700 | Form | |||
| 10 | Woodward, Peter H | Shares held through MHW Capital Management LLC | Sell | 12112025 | 8.82 | 30,000 | 264,600 | 191,394 | Form | |
| 11 | Fahy, Michael John | Spouse | Buy | 11192025 | 8.00 | 5,000 | 40,000 | 40,000 | Form |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| IT Consulting & Other Services Resources |
| IDC |
| Forrester |
| Consultancy.org |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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