Tile Shop Holdings, Inc. (TTSH) Income Statement
TTSH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTTSH revenue and net income
Where TTSH's revenue goes
2025Each bar shows an amount and its share of revenue. TTSH kept −1.3% of revenue as net income.
TTSH profit margins
TTSH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.0% | −5.1% | +0.7% | +1.4% |
| Gross profit | −5.6% | −6.0% | −0.6% | +0.5% |
| Operating income | −265.3% | — | — | — |
| Net income | −293.6% | — | — | — |
| EPS (diluted) | −300.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TTSH quarterly EPS vs estimates
Tile Shop beat the analyst EPS estimate in 2 of the last 7 quarters.
TTSH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $336.8M | $347.1M | $377.1M | $394.7M | $370.7M | $325.1M | $340.4M | $357.3M | $344.6M | $324.2M |
| Cost of revenue | $121.8M | $119.2M | $134.1M | $135.8M | $117.6M | $103.5M | $104.2M | $105.9M | $108.4M | $97.3M |
| Gross profit | $215.0M | $227.9M | $243.1M | $258.9M | $253.1M | $221.5M | $236.1M | $251.3M | $236.2M | $226.9M |
| Research & development | — | $1.8M | $1.6M | $2.0M | $1.5M | $1.5M | $1.6M | $300,000 | $200,000 | $500,000 |
| Sales, general & admin | $220.8M | $223.4M | $225.9M | $235.9M | $231.8M | $213.0M | $237.5M | $232.5M | $209.3M | $186.4M |
| Total operating expenses | $220.8M | $224.4M | $226.9M | $236.3M | $232.5M | $215.1M | $237.5M | $233.2M | $210.4M | $194.0M |
| Operating income | −$5.8M | $3.5M | $16.2M | $22.6M | $20.6M | $6.4M | −$1.4M | $18.1M | $25.8M | $32.9M |
| Interest expense | $41,000 | $275,000 | $2.2M | $1.6M | $656,000 | $1.9M | $3.8M | $2.7M | $1.9M | $1.7M |
| Income before taxes | −$5.9M | $3.2M | $14.0M | $21.0M | $20.0M | $4.5M | −$5.1M | $15.6M | $24.2M | $31.3M |
| Income taxes | −$1.4M | $921,000 | $3.9M | $5.3M | $5.2M | −$1.5M | −$674,000 | $5.2M | $13.3M | $12.9M |
| Net income | −$4.5M | $2.3M | $10.1M | $15.7M | $14.8M | $6.0M | −$4.5M | $10.4M | $10.8M | $18.5M |
| EBITDA | $10.2M | $21.3M | $37.4M | $47.8M | $48.0M | $37.7M | $32.2M | $46.7M | $52.3M | $56.1M |
| EPS (diluted) | −$0.10 | $0.05 | $0.23 | $0.31 | $0.29 | $0.12 | −$0.06 | $0.21 | $0.31 | $0.45 |
| Gross margin | 63.8% | 65.7% | 64.4% | 65.6% | 68.3% | 68.1% | 69.4% | 70.4% | 68.5% | 70.0% |
| Operating margin | −1.7% | 1.0% | 4.3% | 5.7% | 5.6% | 2.0% | −0.4% | 5.1% | 7.5% | 10.2% |
| Net margin | −1.3% | 0.7% | 2.7% | 4.0% | 4.0% | 1.9% | −1.3% | 2.9% | 3.1% | 5.7% |
| Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $77.5M | $83.1M | $88.3M | $88.0M | $79.5M | $84.5M | $91.4M | $91.7M | $84.5M | $92.1M | $98.6M | $102.0M |
| Cost of revenue | $25.9M | $34.5M | $31.4M | $29.9M | $28.5M | $28.3M | $31.1M | $31.4M | $29.8M | $32.5M | $35.3M | $36.5M |
| Gross profit | $51.5M | $48.6M | $56.8M | $58.1M | $51.0M | $56.2M | $60.3M | $60.3M | $54.7M | $59.6M | $63.3M | $65.5M |
| Research & development | — | — | — | — | $1.8M | — | — | — | $1.6M | — | — | — |
| Sales, general & admin | $52.3M | $54.2M | $56.4M | $57.9M | $43.6M | $56.0M | $58.5M | $58.0M | $43.7M | $56.7M | $55.6M | $61.4M |
| Total operating expenses | $56.0M | $50.5M | $56.4M | $57.9M | $51.9M | $56.0M | $58.5M | $58.0M | $53.2M | $56.7M | $55.6M | $61.4M |
| Operating income | −$4.5M | −$2.0M | $440,000 | $183,000 | −$867,000 | $250,000 | $1.9M | $2.3M | $1.5M | $2.8M | $7.7M | $4.1M |
| Interest expense | $129,000 | $4,000 | $29,000 | $18,000 | $19,000 | $71,000 | $57,000 | $166,000 | $244,000 | $453,000 | $668,000 | $798,000 |
| Income before taxes | −$4.6M | −$2.0M | $469,000 | $201,000 | −$848,000 | $179,000 | $1.8M | $2.1M | $1.2M | $2.4M | $7.1M | $3.3M |
| Income taxes | −$1.1M | −$348,000 | $77,000 | $29,000 | −$220,000 | $138,000 | $575,000 | $428,000 | $590,000 | $532,000 | $2.0M | $815,000 |
| Net income | −$3.4M | −$1.6M | $392,000 | $172,000 | −$628,000 | $41,000 | $1.2M | $1.7M | $636,000 | $1.8M | $5.1M | $2.5M |
| EBITDA | −$367,000 | $1.7M | $4.6M | $4.2M | $3.1M | $4.7M | $6.5M | $7.0M | $6.3M | $7.9M | $13.3M | $9.9M |
| EPS (diluted) | — | −$0.04 | $0.01 | $0.00 | −$0.01 | $0.00 | $0.03 | $0.04 | $0.01 | $0.04 | $0.12 | $0.06 |
| Gross margin | 66.5% | 58.5% | 64.4% | 66.0% | 64.2% | 66.5% | 66.0% | 65.8% | 64.7% | 64.7% | 64.2% | 64.2% |
| Operating margin | −5.8% | −2.4% | 0.5% | 0.2% | −1.1% | 0.3% | 2.0% | 2.5% | 1.7% | 3.1% | 7.8% | 4.0% |
| Net margin | −4.4% | −1.9% | 0.4% | 0.2% | −0.8% | 0.0% | 1.3% | 1.8% | 0.8% | 2.0% | 5.2% | 2.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TTSH's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TTSH financial results
In fiscal year 2025 (ended December 31, 2025), Tile Shop reported revenue of $336.8 million, down 3.0% from the year before. It had a net loss of $4.5 million, a net profit margin of −1.3%. Diluted earnings per share came to −$0.10. Over five years revenue grew at an average rate of 0.7% a year.
See the TTSH stock overview for the latest quote and news, or the TTSH chart for price history and technical indicators.
TTSH income statement FAQ
What is Tile Shop's annual revenue?
Tile Shop reported total revenue of $336.8 million for fiscal year 2025, which ended on December 31, 2025. That was down 3.0% from $347.1 million the previous year.
Is Tile Shop profitable?
No. Tile Shop reported a net loss of $4.5 million in fiscal 2025, a net profit margin of −1.3%; its operating margin was −1.7%.
What is Tile Shop's gross margin?
Tile Shop's gross margin was 63.8% in fiscal 2025: for every $100 of revenue, Tile Shop kept $64 after the direct cost of its products and services.
How fast is Tile Shop growing?
Revenue grew 0.7% a year on average over the last five fiscal years, from $325.1 million to $336.8 million.
What are Tile Shop's earnings per share?
Tile Shop earned $-0.10 per diluted share in fiscal 2025, compared with $0.05 a year earlier.
When does Tile Shop's fiscal year end?
Tile Shop's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.