TSS, Inc. (NASDAQ:TSSI) stock fell Friday after reporting third-quarter results that showed steep year-over-year declines in revenue and earnings.

The stock fell as the company reported a 40% decline in revenue, a swing to a net loss, significantly lower procurement activity, and a substantial drop in adjusted EBITDA, overshadowing its strong year-to-date gains.

Earnings came in at a loss of 6 cents per share, down from earnings of 10 cents per share a year earlier, while revenue fell to $41.9 million from $70.1 million, representing a 40% decline.

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Segment Performance and Margin Pressure

Procurement revenue dropped 49% to $31.1 million, Systems Integration revenue rose 20% to $9.2 million, ...