TSS Inc. (OTCMKTS:TSSI) was up 18% after reporting its Q4 2021 and FY 2021 results. The company has revenue of $14.6 million relative to $7.2 million a year ago. Reseller revenue was $11.7 million in Q4 2021 compared to $3.1 million in Q4 2020.
Trading Data
On Wednesday, TSSI stock soared 17.55% to $0.4472 with more than 15K shares, compared to its average Wednesday of 8.6K shares. The stock moved within a range of $0.4200 – 0.4597 after opening trading at $0.42.
TSS, Inc. Reports Fourth Quarter and Fiscal 2021 Results
The gross margin was 12% in Q4 2021 compared to 23% a year ago. The company reported a net loss of $264,000 or $0.01 per share relative to $637,000 or $0.o4 a year ago. In 2020 the net loss included an $897,000 gain in PPP loan forgiveness. Adjusted EBITDA income was $138,000 compared to $1.047 million a year before.
For the full year, the company had revenue of $27.4 million with reseller revenues of $14.7 million. FY 2021 gross margin was 23%, and the company posted a net loss of $1.297 million or $0.07 per share. CEO Anthony Angelini said that despite the supply chain shortages experienced, the company managed to attain positive adjusted EBITDA in Q4 and FY 2021. So TSSI is worth watching.
Key Quote
“Despite the significant impact of supply chain shortages, we achieved fourth quarter and annual positive Adjusted EBITDA,” said Anthony Angelini, President and Chief Executive Officer of TSS. “The decline in revenue year over year was primarily related to our opportunistic reseller revenues. This decline in revenue had a very small impact on our overall gross profits as we benefited from a favorable revenue mix and cost management initiatives. Our current backlog of projects is very large and we expect to see a large improvement in our 2022 results as supply chain shortages improve and we deliver our backlog.”
Technical Data
TSSI stock is trading above the 20-Day and 50-Day Moving averages of $0.45 and $0.43 respectively. However, the stock is trading below the 200-Day moving average of $0.51.
