TELOS CORP
Business
Telos Corporation provides cybersecurity, identity, and secure network solutions to government and commercial customers. The company delivers cyber governance, risk and compliance automation, identity and biometric services, secure messaging platforms, and enterprise network security solutions. Operating through Security Solutions and Secure Networks segments, Telos serves primarily U.S. federal government agencies, large commercial organizations, and international customers through both cloud and on-premises deployment models.
Summary from 10-K filed 2026-03-16
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 165 | 108 | 145 | 217 | 242 | |
| Impairment loss on intangible assets | 0 | 5 | 0 | — | — | |
| Depreciation and amortization | 8 | 6 | 4 | 793,000 | — | |
| Total cost of sales | 104 | 74 | 92 | 138 | 156 | |
| Gross profit | 61 | 34 | 53 | 79 | 86 | |
| Research and development expenses | 7 | 8 | 12 | 17 | 19 | |
| Selling, general and administrative expenses | 79 | 75 | 81 | 99 | 89 | |
| Goodwill impairment | 15 | 0 | — | — | — | |
| Impairment loss on intangible assets | 0 | 6 | 487,000 | — | — | |
| Total operating expenses | 101 | 90 | 93 | — | — | |
| Operating loss | −40 | −56 | −40 | −54 | −41 | |
| Other income | 3 | 4 | 7 | 1 | −921,000 | |
| Interest expense | −553,000 | −644,000 | −786,000 | — | — | |
| Loss before income taxes | −37 | −52 | −34 | −53 | −43 | |
| Benefit from (provision for) income taxes | 663,000 | −26,000 | −36,000 | −54,000 | 28,000 | |
| Net loss | −37 | −53 | −34 | −53 | −43 | |
| Basic (in dollars per share) | −0.5 | −0.73 | −0.5 | −0.79 | −0.65 | |
| Diluted (in dollars per share) | −0.5 | −0.73 | −0.5 | −0.79 | −0.65 | |
| Basic (in shares) | 73 | 72 | 69 | 68 | 66 | |
| Diluted (in shares) | 73 | 72 | 69 | 68 | 66 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 53 | 55 | 99 | 119 | — | |
| Accounts receivable, net | 17 | 19 | 30 | 40 | — | |
| Prepaid expenses | 11 | 15 | 8 | 5 | — | |
| Deferred program expenses | 10 | 0 | — | — | — | |
| Other current assets | 4 | 3 | 1 | 893,000 | — | |
| Total current assets | 94 | 91 | 140 | 168 | — | |
| Property and equipment, net | 3 | 4 | 3 | 5 | — | |
| Finance lease right-of-use assets, net | 4 | 5 | 7 | 8 | — | |
| Operating lease right-of-use assets | 410,000 | 622,000 | 216,000 | 341,000 | — | |
| Goodwill | 3 | 18 | 18 | 18 | — | |
| Intangible assets, net | 30 | 30 | 40 | 37 | — | |
| Other assets | 5 | 8 | 885,000 | 1 | — | |
| Total assets | 140 | 158 | 209 | 237 | — | |
| Accounts payable | 4 | 1 | — | — | — | |
| Accrued liabilities | 7 | 4 | — | — | — | |
| Accrued compensation and benefits | 12 | 8 | 15 | 8 | — | |
| Contract liabilities current portion | 11 | 7 | 7 | 6 | — | |
| Finance lease obligations current portion | 2 | 2 | 2 | 2 | — | |
| Operating lease obligations current portion | 232,000 | 210,000 | 97,000 | 361,000 | — | |
| Total current liabilities | 37 | 22 | 39 | 46 | — | |
| Contract liabilities non-current portion | 1 | 0 | — | — | — | |
| Finance lease obligations non-current portion | 6 | 8 | 10 | 11 | — | |
| Operating lease obligations non-current portion | 186,000 | 418,000 | 123,000 | 27,000 | — | |
| Deferred income taxes | 53,000 | 813,000 | 813,000 | 758,000 | — | |
| Other liabilities | 159,000 | 91,000 | 44,000 | 297,000 | — | |
| Total liabilities | 44 | 31 | 50 | 65 | — | |
| Commitments and contingencies | — | — | — | — | — | |
| Common stock, $0.001 par value, 250,000,000 shares authorized, 72,773,272 shares and 72,514,652 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 111,000 | 111,000 | 109,000 | 106,000 | — | |
| Additional paid-in capital | 460 | 455 | 434 | 413 | 403 | |
| Accumulated other comprehensive loss | −96,000 | −129,000 | −60,000 | −55,000 | — | |
| Accumulated deficit | −364 | −327 | −275 | −240 | −226 | |
| Total stockholders' equity | 96 | 127 | 159 | 172 | — | |
| Total liabilities and stockholders' equity | 140 | 158 | 209 | 237 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 30 | 21 | 24 | 65 | 60 | |
| Depreciation and amortization | 11 | 12 | 9 | 6 | 6 | |
| Provision for (recovery from) doubtful accounts, net | 2,000 | −20,000 | 152,000 | 99,000 | 7,000 | |
| Benefit from deferred income taxes | −760,000 | 0 | 55,000 | 35,000 | 70,000 | |
| Loss (gain) on disposal of fixed assets | 15,000 | −9,000 | 2,000 | 4,000 | 6,000 | |
| Unrealized gain on fair value adjustment of investment | −750,000 | 0 | — | — | — | |
| Amortization of debt issuance costs | 70,000 | 70,000 | 69,000 | 0 | 0 | |
| Provision for inventory obsolescence | 418,000 | 108,000 | 0 | — | 10,000 | |
| Impairment loss on intangible assets | 0 | 12 | — | — | — | |
| Accounts receivable | 2 | 11 | 9 | 20 | −29 | |
| Prepaid expenses, deferred program expenses, other current assets and other assets | −472,000 | −12 | −3 | −1 | — | |
| Accounts payable | 3 | −7 | — | — | — | |
| Accrued compensation and benefits | 650,000 | −7 | 7 | −317,000 | — | |
| Contract liabilities | 6 | 110,000 | 283,000 | 63,000 | 727,000 | |
| Accrued liabilities and other liabilities | 634,000 | −3 | — | — | — | |
| Net cash provided by (used in) operating activities | 30 | −26 | 2 | 17 | 7 | |
| Capitalized software development costs | −8 | −12 | −15 | −13 | −10 | |
| Purchases of property and equipment, net | −739,000 | −2 | −926,000 | −1 | −3 | |
| Purchase of investment | 0 | −3 | 0 | — | — | |
| Net cash used in investing activities | −9 | −17 | −15 | −14 | −19 | |
| Payments under finance lease obligations | −2 | −2 | −2 | −1 | −1 | |
| Payment of tax withholding related to net share settlement of equity awards | −7 | −457,000 | −4 | −6 | 0 | |
| Proceeds from exercise of stock options | 108,000 | 203,000 | 0 | — | — | |
| Repurchase of common stock | −14 | 0 | −139,000 | −11 | −1 | |
| Payments for debt issuance costs | −14,000 | 0 | −114,000 | −95,000 | 0 | |
| Net cash used in financing activities | −23 | −2 | −6 | −10 | 32 | |
| Net change in cash, cash equivalents, and restricted cash | −1 | −45 | −20 | −7 | 21 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is TELOS CORP's CIK number?
TELOS CORP's SEC CIK number is 0000320121 (320121). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find TELOS CORP's SEC filings?
All of TELOS CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did TELOS CORP last report earnings?
TELOS CORP (TLS) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000320121-26-000021). This is TELOS CORP's most recent earnings filing of record — not a forecast of its next earnings date.
What is TELOS CORP's most recent earnings 8-K?
TELOS CORP's latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0000320121-26-000021. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View TELOS CORP's latest earnings 8-K →
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