TELOS CORP TLS

Technology SIC 7373 - Services-Computer Integrated Systems Design NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Systems Design Services derived Nasdaq

Telos Corporation is a Maryland corporation headquartered in Ashburn, Virginia. Telos Corporation, together with its subsidiaries (the "Company" or "Telos" or "We"), offers technology solutions and services that empower and protect the world's most security-conscious organizations.

We deliver efficient, adaptable, and secure solutions that protect people, organizations, and information across government and industry. From cyber governance, risk and compliance ("GRC") with Xacta®, to identity and biometric solutions, secure networks, and TSA PreCheck® enrollment, we help customers stay ahead of evolving threats. Our primary customers include the U.S. federal government, large commercial organizations and international customers. Our deep domain expertise, cleared workforce, and proven technologies give us a unique position at the intersection of cybersecurity, identity, and network security. Driven by purpose and guided by our core values, we build lasting partnerships, deliver superior solutions, and help create a more secure, interconnected world.

Last close 4.87 2026-10-23
Market cap $364.0M 2026-06-30 share count
52-week range 3.79 - 8.36

Valuation FY2025 figures against the last close

P/S2.2x
P/E—
P/FCF12.4x
EV/EBITDA—
Dividend yield—
Diluted EPS-0.50

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Security Solutions
  • Secure Networks
Revenue by segment, 2 categories over 2 years. The same figures are in the table below. FY2025 Security Solutions, FY2025: 149.6M (90.8%) 91% Security Solutions Secure Networks, FY2025: 15.2M (9.2%) 9% FY2024 Security Solutions, FY2024: 76.8M (70.9%) 71% Secure Networks, FY2024: 31.5M (29.1%) 29%
Segment FY2025FY2024
Security Solutions $149.6M $76.8M
Secure Networks $15.2M $31.5M

As the company reported it, from the “SEGMENT INFORMATION - Schedule of Segment Reporting Information, by Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $164.8M$108.3M$145.4M$216.9M$242.4M$179.9M$159.2M$138.0M$107.7M$134.9M
Cost of revenue $103.8M$73.8M$92.4M$137.8M$156.4M$117.5M$106.9M$85.0M$67.2M$91.4M
Gross profit $61.0M$34.4M$52.9M$79.0M$86.0M$62.4M$52.3M$53.1M$40.6M$43.4M
R&D $7.1M$8.4M$11.8M$16.9M$19.1M$14.2M$10.6M$8.8M——
SG&A $78.9M$75.5M$81.0M$132.9M$127.5M$62.1M$47.3M$44.0M$40.2M$41.3M
Total operating expenses $100.9M$90.3M$93.3M———————
Operating income -$39.9M-$55.9M-$40.3M-$53.9M-$41.5M$297.0K$5.0M$9.0M$414.0K$2.1M
Interest expense $553.0K$644.0K$786.0K$874.0K$777.0K$7.3M$7.5M$7.3M$6.7M$5.5M
Pre-tax income -$37.2M-$52.5M-$34.4M-$53.4M-$43.2M$6.8M-$2.2M$1.8M-$6.3M-$3.3M
Income tax $663.0K$26.0K$36.0K$54.0K$28.0K$46.0K$104.0K$31.0K$2.8M$334.0K
Net income -$36.5M-$52.5M-$34.4M-$53.4M-$43.1M$1.7M-$6.4M-$1.6M-$5.8M-$7.2M
EPS, basic -0.50-0.73-0.50-0.79-0.650.04-0.17-0.04——
EPS, diluted -0.50-0.73-0.50-0.79-0.650.04-0.17-0.04——
Shares, diluted (wtd. avg.) 72.9M71.8M69.3M67.6M66.4M42.9M37.7M36.8M——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $53.2M$54.6M$99.4M$119.4M$126.6M$106.0M$6.8M$72.0K$600.0K$659.0K
Receivables $17.0M$19.2M$30.4M$40.1M$59.8M$30.9M$27.9M$34.5M$24.5M$19.1M
Inventory $996.0K$1.8M$1.4M$2.9M$1.2M$3.3M$2.0M$4.4M$13.5M$3.6M
Total current assets $94.4M$91.4M$140.0M$168.0M$191.7M$144.1M$40.2M$41.2M$42.1M$25.0M
Property, plant and equipment $3.1M$4.3M$3.5M$4.8M$6.1M$22.4M$19.6M$17.4M$16.3M$16.1M
Goodwill $3.0M$17.9M$17.9M$17.9M$17.9M$14.9M$14.9M$14.9M$14.9M$14.9M
Other intangibles $30.3M$30.4M$39.6M$37.4M$19.2M$7.4M———$0
Total assets $139.9M$158.2M$208.7M$237.4M$246.1M$183.8M$77.7M$74.5M$74.4M$56.8M
Accounts payable $4.1M$1.2M$8.3M$12.6M$7.9M$14.7M————
Total current liabilities $36.8M$22.1M$39.2M$45.5M$50.9M$38.9M$37.3M$39.1M$46.2M$33.6M
Long-term debt ———————$11.0M$10.8M—
Total liabilities $43.9M$31.1M$49.7M$65.0M$65.8M$56.7M$214.3M$206.6M$210.5M$186.8M
Retained earnings -$363.9M-$327.3M-$274.8M-$240.4M-$187.0M-$143.8M-$145.5M-$139.1M-$141.4M-$135.5M
Total equity $96.0M$127.1M$159.0M$172.4M$180.3M$127.1M-$136.6M-$132.1M-$136.0M-$130.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $30.2M-$25.9M$1.6M$16.5M$7.3M-$2.1M$11.8M$6.3M-$591.0K$13.9M
Depreciation and amortisation $11.5M$11.9M$8.9M$5.9M$5.6M$5.4M$5.0M$3.0M$2.0M$2.9M
Stock-based compensation $30.1M$21.4M$24.4M$64.7M$60.2M$4.0K$0$0$50.0K$0
Capital expenditure $739.0K$2.3M$926.0K$1.0M$3.2M$780.0K$4.1M$2.5M$748.0K$624.0K
Investing cash flow -$8.9M-$16.8M-$15.5M-$13.7M-$19.1M-$7.5M-$6.5M-$4.1M-$2.2M-$624.0K
Financing cash flow -$22.7M-$2.0M-$6.2M-$9.9M$32.3M$108.9M$1.4M-$2.7M$2.8M-$12.6M
Buybacks $13.6M$0$139.0K$11.1M$1.3M$0$0———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000320121-26-000010.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M 300M Revenue, FY2016: 134.9M Gross profit, FY2016: 43.4M Net income, FY2016: -7.2M Revenue, FY2017: 107.7M Gross profit, FY2017: 40.6M Net income, FY2017: -5.8M Revenue, FY2018: 138M Gross profit, FY2018: 53.1M Net income, FY2018: -1.6M Revenue, FY2019: 159.2M Gross profit, FY2019: 52.3M Net income, FY2019: -6.4M Revenue, FY2020: 179.9M Gross profit, FY2020: 62.4M Net income, FY2020: 1.7M Revenue, FY2021: 242.4M Gross profit, FY2021: 86M Net income, FY2021: -43.1M Revenue, FY2022: 216.9M Gross profit, FY2022: 79M Net income, FY2022: -53.4M Revenue, FY2023: 145.4M Gross profit, FY2023: 52.9M Net income, FY2023: -34.4M Revenue, FY2024: 108.3M Gross profit, FY2024: 34.4M Net income, FY2024: -52.5M Revenue, FY2025: 164.8M Gross profit, FY2025: 61M Net income, FY2025: -36.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $134.9M $107.7M $138.0M $159.2M $179.9M $242.4M $216.9M $145.4M $108.3M $164.8M
Gross profit $43.4M $40.6M $53.1M $52.3M $62.4M $86.0M $79.0M $52.9M $34.4M $61.0M
Net income -$7.2M -$5.8M -$1.6M -$6.4M $1.7M -$43.1M -$53.4M -$34.4M -$52.5M -$36.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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