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Side-by-side financial comparison of Aeries Technology, Inc. (AERT) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $17.5M, roughly 3.5× Aeries Technology, Inc.). TSS, Inc. runs the higher net margin — 20.0% vs 6.6%, a 13.3% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs -0.8%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $2.1M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs -5.9%).
AERT vs TSSI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.5M | $60.9M |
| Net Profit | $1.2M | $12.2M |
| Gross Margin | 19.1% | 17.6% |
| Operating Margin | 4.4% | 1.5% |
| Net Margin | 6.6% | 20.0% |
| Revenue YoY | -0.8% | 21.8% |
| Net Profit YoY | -56.7% | 535.7% |
| EPS (diluted) | $0.02 | $0.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $17.5M | $60.9M | ||
| Q3 25 | $17.4M | $41.9M | ||
| Q2 25 | $15.3M | $44.0M | ||
| Q1 25 | $19.1M | $99.0M | ||
| Q4 24 | $17.6M | $50.0M | ||
| Q3 24 | $16.9M | $70.1M | ||
| Q2 24 | $16.7M | $12.2M | ||
| Q1 24 | $19.7M | $15.9M |
| Q4 25 | $1.2M | $12.2M | ||
| Q3 25 | $369.0K | $-1.5M | ||
| Q2 25 | $1.6M | $1.5M | ||
| Q1 25 | $-6.0M | $3.0M | ||
| Q4 24 | $2.7M | $1.9M | ||
| Q3 24 | $-2.3M | $2.6M | ||
| Q2 24 | $-14.7M | $1.4M | ||
| Q1 24 | $32.1M | $15.0K |
| Q4 25 | 19.1% | 17.6% | ||
| Q3 25 | 28.9% | 11.1% | ||
| Q2 25 | 24.6% | 17.8% | ||
| Q1 25 | 26.7% | 9.3% | ||
| Q4 24 | 23.0% | 14.4% | ||
| Q3 24 | 21.2% | 11.3% | ||
| Q2 24 | 24.1% | 37.3% | ||
| Q1 24 | 32.1% | 17.1% |
| Q4 25 | 4.4% | 1.5% | ||
| Q3 25 | 11.4% | -2.2% | ||
| Q2 25 | 5.3% | 5.1% | ||
| Q1 25 | -16.3% | 4.2% | ||
| Q4 24 | -29.3% | 0.0% | ||
| Q3 24 | -24.3% | 5.4% | ||
| Q2 24 | -98.5% | 14.0% | ||
| Q1 24 | -0.0% | 1.6% |
| Q4 25 | 6.6% | 20.0% | ||
| Q3 25 | 2.1% | -3.6% | ||
| Q2 25 | 10.3% | 3.4% | ||
| Q1 25 | -31.6% | 3.0% | ||
| Q4 24 | 15.2% | 3.8% | ||
| Q3 24 | -13.5% | 3.8% | ||
| Q2 24 | -87.9% | 11.5% | ||
| Q1 24 | 163.1% | 0.1% |
| Q4 25 | $0.02 | $0.44 | ||
| Q3 25 | $0.01 | $-0.06 | ||
| Q2 25 | $0.03 | $0.06 | ||
| Q1 25 | $-0.10 | $0.12 | ||
| Q4 24 | $0.08 | $0.08 | ||
| Q3 24 | $-0.05 | $0.10 | ||
| Q2 24 | $-0.39 | $0.06 | ||
| Q1 24 | — | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.6M | $85.5M |
| Total DebtLower is stronger | $943.0K | — |
| Stockholders' EquityBook value | $-1.2M | $76.6M |
| Total Assets | $42.0M | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.6M | $85.5M | ||
| Q3 25 | $1.9M | $70.7M | ||
| Q2 25 | $2.1M | — | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | $2.4M | $23.2M | ||
| Q3 24 | $3.6M | $46.4M | ||
| Q2 24 | $4.2M | $8.3M | ||
| Q1 24 | $2.1M | $14.4M |
| Q4 25 | $943.0K | — | ||
| Q3 25 | $960.0K | — | ||
| Q2 25 | $1.1M | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $1.5M | — | ||
| Q3 24 | $1.5M | — | ||
| Q2 24 | $1.7M | — | ||
| Q1 24 | $1.5M | — |
| Q4 25 | $-1.2M | $76.6M | ||
| Q3 25 | $-2.9M | $63.4M | ||
| Q2 25 | $-4.3M | $9.5M | ||
| Q1 25 | $-5.8M | $9.4M | ||
| Q4 24 | $692.0K | $7.1M | ||
| Q3 24 | $-2.3M | $7.7M | ||
| Q2 24 | $-231.0K | $5.2M | ||
| Q1 24 | $-12.2M | $3.7M |
| Q4 25 | $42.0M | $184.9M | ||
| Q3 25 | $40.5M | $165.4M | ||
| Q2 25 | $38.8M | $139.5M | ||
| Q1 25 | $39.8M | $113.5M | ||
| Q4 24 | $50.7M | $96.6M | ||
| Q3 24 | $52.0M | $67.3M | ||
| Q2 24 | $51.8M | $28.9M | ||
| Q1 24 | $49.4M | $26.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.17× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.4M | $16.3M |
| Free Cash FlowOCF − Capex | $2.1M | $15.8M |
| FCF MarginFCF / Revenue | 12.2% | 25.9% |
| Capex IntensityCapex / Revenue | 1.3% | 0.9% |
| Cash ConversionOCF / Net Profit | 2.05× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $4.6M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4M | $16.3M | ||
| Q3 25 | $1.0M | $-18.4M | ||
| Q2 25 | $1.4M | $16.3M | ||
| Q1 25 | $864.0K | $20.6M | ||
| Q4 24 | $-2.1M | $-21.6M | ||
| Q3 24 | $1.9M | $38.6M | ||
| Q2 24 | $-1.7M | $-4.3M | ||
| Q1 24 | $-3.0M | $2.6M |
| Q4 25 | $2.1M | $15.8M | ||
| Q3 25 | $653.0K | $-24.9M | ||
| Q2 25 | $1.1M | $5.4M | ||
| Q1 25 | $752.0K | $5.8M | ||
| Q4 24 | $-2.5M | $-28.4M | ||
| Q3 24 | $1.3M | $38.6M | ||
| Q2 24 | $-2.1M | $-6.0M | ||
| Q1 24 | $-3.5M | $2.6M |
| Q4 25 | 12.2% | 25.9% | ||
| Q3 25 | 3.8% | -59.3% | ||
| Q2 25 | 7.2% | 12.3% | ||
| Q1 25 | 3.9% | 5.8% | ||
| Q4 24 | -14.0% | -56.7% | ||
| Q3 24 | 7.8% | 55.1% | ||
| Q2 24 | -12.5% | -49.4% | ||
| Q1 24 | -17.6% | 16.4% |
| Q4 25 | 1.3% | 0.9% | ||
| Q3 25 | 2.1% | 15.3% | ||
| Q2 25 | 1.7% | 24.8% | ||
| Q1 25 | 0.6% | 15.0% | ||
| Q4 24 | 2.2% | 13.4% | ||
| Q3 24 | 3.6% | 0.1% | ||
| Q2 24 | 2.2% | 13.8% | ||
| Q1 24 | 2.3% | 0.2% |
| Q4 25 | 2.05× | 1.34× | ||
| Q3 25 | 2.78× | — | ||
| Q2 25 | 0.87× | 11.02× | ||
| Q1 25 | — | 6.93× | ||
| Q4 24 | -0.78× | -11.32× | ||
| Q3 24 | — | 14.60× | ||
| Q2 24 | — | -3.09× | ||
| Q1 24 | -0.09× | 176.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AERT
Segment breakdown not available.
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
