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Telos Corp.

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Key Metrics

Previous Close: $4.43
52-Week Range: $3.79 – $8.36
Market Cap: $333.84M
P/E (TTM): —
EPS (TTM): -0.22
Dividend Yield: —

Advanced Metrics

Price/Book: 3.46
PEG Ratio: —
Return on Equity: -14.86%
Return on Assets: -1.56%
Gross Margin: 42.09%
Operating Margin: 0.65%
Profit Margin: -8.13%
Current Ratio: 2.38
Debt/Equity: 0.07
Total Debt: $6.97M
Free Cash Flow: $24.84M
Revenue Growth: 32.70%
Earnings Growth: —
Enterprise Value: $287.40M

TLS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$216.89M	$145.38M	$108.27M	$164.81M
Cost of Revenue	$137.84M	$92.44M	$73.84M	$103.79M
Gross Profit	$79.04M	$52.94M	$34.43M	$61.02M
Research & Development	$16.92M	$11.76M	$8.44M	$7.06M
Selling, General & Admin	$115.97M	$81.01M	$75.49M	$78.92M
Operating Expenses	$132.89M	$92.77M	$83.93M	$85.98M
Operating Income	-$53.85M	-$39.83M	-$49.50M	-$24.96M
EBITDA	-$46.61M	-$24.66M	-$39.98M	-$25.20M
Pretax Income	-$53.37M	-$34.39M	-$52.49M	-$37.21M
Income Tax	$54.00K	$36.00K	$26.00K	-$663.00K
Net Income	-$53.43M	-$34.42M	-$52.52M	-$36.55M
Diluted EPS	-0.79	-0.50	-0.73	-0.50
Diluted Shares	67.56M	69.26M	71.85M	72.88M

TLS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$119.31M	$99.26M	$54.58M	$53.18M
Receivables	$40.07M	$30.42M	$19.38M	$17.53M
Inventory	$2.88M	$1.42M	$1.78M	$996.00K
Current Assets	$167.96M	$139.99M	$91.42M	$94.41M
Total Assets	$237.40M	$208.70M	$158.24M	$139.86M
Current Liabilities	$45.50M	$39.20M	$22.14M	$36.78M
Long-Term Debt	$7.21M	—	—	—
Total Debt	$21.69M	$11.47M	$10.15M	$8.06M
Total Liabilities	$65.04M	$49.70M	$31.10M	$43.91M
Retained Earnings	-$240.41M	-$274.83M	-$327.35M	-$363.89M
Shareholders' Equity	$172.35M	$159.00M	$127.14M	$95.95M
Working Capital	$122.46M	$100.79M	$69.28M	$57.63M

TLS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$16.51M	$1.59M	-$25.94M	$30.18M
Capital Expenditure	-$13.72M	-$15.48M	-$13.76M	-$8.91M
Free Cash Flow	$2.79M	-$13.89M	-$39.70M	$21.27M
Depreciation & Amortisation	$5.89M	$8.94M	$11.87M	$11.45M
Stock-Based Compensation	$64.66M	$24.40M	$21.41M	$30.15M
Investing Cash Flow	-$13.72M	-$15.48M	-$16.76M	-$8.91M
Financing Cash Flow	-$9.91M	-$6.15M	-$1.98M	-$22.66M
Share Repurchases	-$11.14M	-$139.00K	$0.00	-$13.63M
Net Change in Cash	-$7.12M	-$20.04M	-$44.68M	-$1.40M

TLS Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$30.62M	$35.97M	$51.44M	$46.78M	$47.74M
Cost of Revenue	$18.43M	$24.04M	$30.90M	$30.42M	$30.37M
Gross Profit	$12.18M	$11.93M	$20.55M	$16.36M	$17.38M
Research & Development	$1.57M	$1.51M	$1.90M	$2.08M	$1.36M
Selling, General & Admin	$19.63M	$20.30M	$21.11M	$17.87M	$14.56M
Operating Expenses	$21.20M	$21.82M	$23.01M	$19.95M	$15.92M
Operating Income	-$9.02M	-$9.88M	-$2.47M	-$3.59M	$1.46M
EBITDA	-$6.13M	-$6.82M	$1.22M	-$13.48M	$5.58M
Pretax Income	-$8.61M	-$9.47M	-$2.09M	-$17.04M	$2.04M
Income Tax	-$4.00K	$46.00K	$21.00K	-$726.00K	$18.00K
Net Income	-$8.60M	-$9.52M	-$2.11M	-$16.31M	$2.02M
Diluted EPS	-0.12	-0.13	-0.03	-0.22	0.03
Diluted Shares	72.72M	73.16M	72.58M	73.05M	77.61M

TLS Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$57.79M	$57.00M	$59.05M	$53.18M	$50.23M
Receivables	$18.75M	$19.11M	$20.42M	$17.53M	$16.43M
Inventory	$1.49M	$4.18M	$3.38M	$996.00K	—
Current Assets	$94.14M	$102.78M	$102.83M	$94.41M	$95.63M
Total Assets	$158.06M	$165.04M	$164.28M	$139.86M	$139.90M
Current Liabilities	$23.53M	$38.73M	$37.27M	$36.78M	$36.98M
Total Debt	$9.64M	$9.13M	$8.60M	$8.06M	$7.53M
Total Liabilities	$31.95M	$46.63M	$44.61M	$43.91M	$43.36M
Retained Earnings	-$335.95M	-$345.47M	-$347.58M	-$363.89M	-$361.87M
Shareholders' Equity	$126.11M	$118.41M	$119.67M	$95.95M	$96.53M
Working Capital	$70.61M	$64.04M	$65.56M	$57.63M	$58.64M

TLS Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$6.11M	$6.95M	$9.15M	$7.98M	$8.66M
Capital Expenditure	-$2.34M	-$2.32M	-$2.55M	-$1.71M	-$2.28M
Free Cash Flow	$3.77M	$4.63M	$6.60M	$6.27M	$6.38M
Depreciation & Amortisation	$2.34M	$2.51M	$3.18M	$3.43M	$3.43M
Stock-Based Compensation	$7.05M	$7.76M	$9.39M	$5.96M	$2.97M
Investing Cash Flow	-$2.34M	-$2.32M	-$2.55M	-$1.71M	-$2.28M
Financing Cash Flow	-$556.00K	-$5.42M	-$4.55M	-$12.14M	-$9.33M
Share Repurchases	$0.00	-$4.00M	-$3.64M	-$5.99M	-$2.20M
Net Change in Cash	$3.21M	-$793.00K	$2.05M	-$5.87M	-$2.95M

Market Snapshot

About

Telos Corp. provides cybersecurity solutions and services to government and commercial enterprises. The company offers secure networking, identity management, and cloud security solutions designed to protect critical infrastructure and sensitive information.