Here are the 10-K annual reports from DSS, Inc. (DSS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow DSS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DSS filings page.
DSS, Inc. reported 2025 revenue of $20.8 million, up 9% from $19.1 million in 2024, driven mainly by a 12% increase in printed products and higher securities commissions. Rental and commercial lending revenues declined as certain real estate assets faced vacancy and loans went on non-accrual.
The company operates four segments: Product Packaging, Biotechnology, Commercial Lending, and Securities and Investment Management, with a global footprint centered in North America and Asia. In 2024, subsidiary Impact BioMedical completed an IPO, and in 2025 DSS sold its Plano, Texas facility for $9.5 million and its Celios air purification asset for about $1.15 million, using part of proceeds to reduce debt.
As of December 31, 2025, one customer accounted for 29% of consolidated revenue, and five customers represented the majority of trade receivables, highlighting concentration risk. DSS also carried significant secured debt, including a $40.3 million LifeCare loan with about $37 million outstanding that is disclosed as being in default and due, alongside other bank and private loans.
The company held about $17.0 million of net intangible assets tied largely to Impact BioMedical and reports nine issued and over forty pending patents. Management emphasizes a multi-stage growth strategy, targeted 15–20% cost reductions, cybersecurity investments, and potential future IPOs of business units, while also outlining extensive risk factors around indebtedness, listing compliance, intellectual property, and litigation.