Tile Shop Holdings Inc (OTC Pink: TTSH) is a specialty retail company that sells tile and related products through its own store network. Revenue is generated through direct retail sales of tile, stone, and installation-related merchandise to consumers and contractors. The company reported net sales of $336.8 million for the fiscal year ended December 31, 2025, down from $347.1 million in FY2024 and $377.1 million in FY2023, reflecting three consecutive years of declining top-line performance. Operating results swung to a loss from operations of $5.8 million in FY2025, compared to income from operations of $3.5 million in FY2024 and $16.2 million in FY2023. Total assets stood at $301.7 million as of December 31, 2025. The company delisted its common stock from Nasdaq on December 27, 2025, and shares now trade on OTC Markets Pink under the symbol TTSH. Following the filing of this 10-K for FY2025, the company does not expect to file further periodic reports with the SEC.

Revenue model

Transactional retail sales of tile, stone, and related installation products sold directly through company-owned stores.

Products and services

Tile, natural stone, and related installation products sold through specialty retail stores.

Customers and end markets

Retail consumers and contractors purchasing tile and stone for residential and commercial installation projects.

Value-chain role

Specialty retailer; sells finished tile and stone products directly to end customers through owned store locations.

Geographic exposure

United States. Specific store count and regional breakdown not supported by the filing excerpts provided.

Source: SEC 10-K, filed 2026-02-26

Industry: Retail-Home Furniture, Furnishings & Equipment Stores Peers: GrowGeneration Corp Floor & Decor Holdings Inc Home Depot Inc LL Flooring Holdings, Inc. Lowe's Companies Inc