
TSS Inc: Scaling Fast, But Not Yet Converting
TSS, Inc. (TSSI) is a microcap AI infrastructure firm with rapid scale-up, but remains heavily reliant on low-margin procurement revenue. Gross margin stagnates at 11.1%, with high-margin segments producing ~4x more profit per dollar but comprising only 16% of revenue. Balance sheet strength has improved significantly, with unrestricted cash at $70.7M and net working capital at $34.3M as of September 2025.

















