TSS, Inc. specializes in integrating AI-enabled server racks and managing mission-critical facilities, relying heavily on one Fortune 100 OEM customer that accounts for nearly all revenue. The company has invested over $40 million in a state-of-the-art integration facility to support advanced power and cooling requirements critical for AI workloads. While revenue surged sharply in 2025 driven by AI rack services, operating income declined partially due to increased fixed costs and pricing updates. TSS aims to diversify its customer base and increase recurring revenues through maintenance contracts, but the heavy dependence on a single client presents material risks tied to contract changes or volume fluctuations.