What TSS, Inc. told the SEC could break it.

TSS is overwhelmingly dependent on one OEM customer — that customer was 99% of total revenue in 2024 and 96% in 2023 (per the auditor's emphasis-of-matter) — driven by AI-rack integration, so loss of or reduced volume from this customer would be catastrophic.

“the Company had one customer which accounted for 99% and 96%, respectively, of total revenue for the years ended December 31, 2024, and 2023.”

TSS's AI-rack integration runs through its Georgetown, TX facility, where meeting customers' rising power/cooling demands drove ~$1.5M of fixed minimum power charges (May–Dec 2025) regardless of usage and may require further capital investment to scale.

“increased the electrical power now available in our facility, which substantially increased minimum monthly charges from the local utility provider. From May through December 2025, we were charged a total of approximately $1.5 million of fixed power costs regardless of power actually consumed”

Many of the servers TSS integrates and goods it configures are imported; recently implemented and threatened U.S. tariffs on trading-partner countries could materially raise costs and reduce its revenues and profitability.

“Our revenues and profitability could be materially and negatively affected by U.S. imposed tariffs. The United States has recently begun to implement material tariffs on some of the countries with which it has a great deal of international trade and has threatened tariffs on a variety of other countries.”