Financial Performance - TSS reported a record revenue of $148.1 million for FY 2024, representing a 172% increase compared to FY 2023[4] - The company achieved earnings per share (EPS) of $0.24, up from breakeven in 2023[3] - Adjusted EBITDA for FY 2024 was $10.2 million, reflecting a 283% increase from the previous year[4] - Fourth quarter revenue reached $50.0 million, a 105% increase year-over-year, with procurement revenues up 95% to $40.5 million[5] - TSS's gross profit for FY 2024 was $22.4 million, up 103% due to growth across all service lines[4] - The company ended FY 2024 with a net income of $6.0 million, compared to $74,000 in 2023[4] Strategic Developments - TSS signed a multi-year agreement with its largest customer, enhancing its role in AI rack integration[3] - The company expects significant EBITDA growth in 2025, driven by contributions from a new facility expected to be operational by June 2025[6] Revenue Composition - Procurement services accounted for nearly 80% of revenues in 2024, characterized by higher revenue variability and lower margins[6] Asset Growth - TSS's total assets increased to $94.3 million in December 2024, up from $25.6 million in December 2023[17]
TSS Inc(TSSI) - 2024 Q4 - Annual Results