TSS appoints BDO USA as new auditor, dismisses Weaver and Tidwell

TSS, Inc. (NASDAQ:TSSI), a company that has seen remarkable growth with a 555% return over the past year and currently valued at $261.64 million, announced a change in its independent registered public accounting firm, according to a press release statement based on a Wednesday filing with the Securities and Exchange Commission. InvestingPro analysis reveals the company has demonstrated strong momentum with a 73.52% year-to-date return, though investors should note its stock typically trades with high volatility.

On July 10, the Audit Committee of TSS’s Board of Directors approved the dismissal of Weaver and Tidwell, L.L.P. as the company’s independent auditor. The company reported that Weaver and Tidwell’s audit reports for the fiscal years ending December 31, 2024 and 2023 did not include any adverse opinions, disclaimers of opinion, or modifications related to uncertainty, audit scope, or accounting principles.

TSS stated that during the fiscal years ended December 31, 2024 and 2023, and through July 10, 2025, there were no disagreements with Weaver and Tidwell on accounting principles, practices, financial statement disclosures, or audit procedures that would have required mention in the auditor’s reports. The company noted one reportable event: a previously disclosed material weakness in internal control over financial reporting related to the design of certain management review controls, as described in its annual report filed on April 15, 2025.

Weaver and Tidwell was provided with a copy of the disclosures in the current report and was asked to furnish a letter to the SEC stating whether it agrees with the company’s statements. This letter, dated July 16, 2025, is included as an exhibit to the filing.

On July 15, the company’s Audit Committee approved the engagement of BDO USA, P.C. as TSS’s new independent registered public accounting firm for the fiscal year ending December 31, 2025. According to the filing, during the two most recent fiscal years and through July 15, 2025, TSS did not consult with BDO USA regarding the application of accounting principles to any transaction or the type of audit opinion that might be rendered, nor were there any disagreements or reportable events involving BDO USA.

TSS, Inc. is listed on the Nasdaq Stock Market under the symbol TSSI. The company’s next earnings report is scheduled for August 18, 2025, which will be closely watched by investors given its recent financial performance and control improvements. For deeper insights into TSS’s financial health and additional ProTips, investors can access the detailed analysis available on InvestingPro.

In other recent news, TSS Inc . reported a remarkable 523% year-over-year increase in revenue for Q1 2025, reaching $99 million. The company’s earnings per share also saw a significant rise to $0.12, up from breakeven in the previous year. This strong financial performance was driven by growth in its AI infrastructure business and expansion of its capabilities, including the opening of a new facility in Texas. Additionally, TSS Inc. announced during its annual stockholder meeting that several proposals were approved, including the election of Class II directors and the ratification of Weaver Tidwell L.L.P. as the independent registered public accounting firm.

The company also received stockholder approval for its 2025 Omnibus Incentive Compensation Plan. TSS Inc.’s strategic initiatives and strong execution have led to surpassing market expectations for both earnings and revenue. The company anticipates its full-year 2025 adjusted EBITDA to be 50% higher than in 2024, reflecting continued strong performance. Furthermore, TSS Inc. is exploring the expansion of its service capabilities to maintain its growth trajectory. These developments highlight the company’s robust position in the rapidly expanding AI market.

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