What move does the options market price into TSS's report?

Implied ±15.8%, either direction.

How often does TSS move more than the options market prices?

4 of the last 7 reports moved at least as far as the implied move.

TSSINasdaqServices-Management Consulting Services

TSS, Inc. (TSSI) earnings date, market-implied expected move, and options open interest by expiry

6.84

−0.19 · −2.64%

post 6.83 −0.21%

Closed19:27 ET

Open7.04Volume832,093Mkt cap$193.3M

Day6.61 – 7.1640%52-wk6.53 – 18.542%

TSSI

TSS, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±15.8%implied · report alone

8Q avg ±27.4%·×0.58·cheap

5.777.93

straddle ±21.4%

spot 6.85exp Nov 20ATM strike 7.5ATM straddle 1.73IV 136%

Nov 4 closereport share · term structure

Expected move

Inputs

Next report

Nov 12

after close · in 8 days

est.Q3 FY26

Calendar

Next report

Last report

−19.06%

vs ±22.3% implied · ×0.85

shaded = implied · ▲▼ = realized

Aug 13 '26 · confirmed

Implied vs realized

Largest filed tie

99.00%

of TSSI revenue · Undisclosed OEM customer

customerTSSI 10-K

Largest filed tie

13F top-10 QoQ

+37.09%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

127 managers

Top fund weight

0.01%

TSSI weight · IWM

N-PORTJun 30 '26

3 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

TSS (TSSI) is expected to report on Nov 12 after close (estimated date).

Implied vs realized

8 reports

4 of 7≥ implied

avg implied: ±20.3%
avg realized: ±27.8%

Nov 14 '24Nov 14 '24confirmed—▼−24.37%—

Mar 27 '25Mar 27 '25confirmed±22.9%▼−3.06%×0.13

May 15 '25May 15 '25confirmed±18.9%▲+74.07%×3.92

Aug 6 '25Aug 6 '25confirmed±22.4%▼−23.10%×1.03

Q3 FY25Nov 13 '25confirmed±19.6%▼−43.34%×2.21

Q1 FY26Mar 11 '26confirmed±18.5%▲+8.05%×0.44

May 7 '26May 7 '26confirmed±17.5%▼−24.12%×1.37

Q2 FY26Aug 13 '26confirmed±22.3%▼−19.06%×0.85

quarterimplied−75%0+75%realized×

Q2 FY26±22.3%▼−19.06%×0.85

May '26±17.5%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Oct 16 close

0.46OI · 4 expiries · Oct 16 closeP/C open interest · Nov 20 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

1,199+133%Nov 2016d2,635+34%

2,189+1%Dec 1844d0.454,908+11%0.45

2,053−2%Jan 1572d0.1118,0110%0.11

342+2%Mar 19135d0.122,927+23%0.12

ExpiryPutsCallsP/C

Nov 2016d1,199+133%2,635+34%0.46

Dec 1844d2,189+1%4,908+11%0.45

Jan 1572d2,053−2%18,0110%0.11

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±21.4%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

4.08%as filednet margin · revenue −36.51% QoQ · −20.08% YoY

Revenue

$35M−36.51% QoQ

Gross profit

$8M−9.05% QoQ

22.79% margin

Operating income

$2M−29.55% QoQ

4.56% margin

Pre-tax income

$2M−30.82% QoQ

Net income

$1M−37.08% QoQ

4.08% margin

Cost of revenue

$27M−41.70% QoQ

Operating expenses

$6M−1.91% QoQ

SG&A $6M

Other operating $510,000

Depreciation $320,000

Tax

$413,000+5.63% QoQ

Other income

$243,000−38.17% QoQ

Revenue$35M−36.51%

Gross profit

$8M−9.05%

22.79% margin

Operating income

$2M−29.55%

4.56% margin

Pre-tax income

$2M−30.82%

Net income

$1M−37.08%

4.08% margin

Cost of revenue

$27M−41.70%

Operating expenses

$6M−1.91%

SG&A $6M

Other operating $510,000

Depreciation $320,000

Other income$243,000−38.17%

Tax$413,000+5.63%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 19:15 ET

Intraday

Event sensitivity

NFP ×1.10· ±5.9% vs ±5.4% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±5.9%4 of 10×1.10

PCEpersonal income & outlays±5.8%8 of 19×1.07

GDPgross domestic product±5.5%7 of 19×1.01

PPIproducer prices±5.4%4 of 10×1.00

CPIconsumer prices±4.2%6 of 10×0.78

CPROFcorporate profits±3.9%3 of 12×0.72

FOMCrate decision±3.7%9 of 22×0.69

Bar = avg |move| to ±6% · tick = ±5.4% avg day · ×base = |move| ÷ ±5.4% · min 6 releases

Earnings history

EPS 0.05 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 13 '26 · confirmed	0.05	—
Q1 FY26	Mar 11 '26 · confirmed	0.08	—
Q3 FY25	Nov 13 '25 · confirmed	-0.06	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod