Welcome to our dedicated page for Telos Corporation news (Ticker: TLS), a resource for investors and traders seeking the latest updates and insights on Telos Corporation stock.
Telos Corporation Common Stock (symbol: TLS) represents a company renowned for providing cutting-edge cybersecurity, cloud security, and enterprise security solutions. Telos Corporation empowers and protects the world’s most security-conscious organizations, ensuring continuous security assurance of individuals, systems, and information.
Founded in 1971 and headquartered in Ashburn, Virginia, Telos serves military, intelligence, and civilian agencies of the federal government, allied nations, and commercial organizations across the globe. The company’s core offerings include solutions for IT risk management and information security; secure mobility to protect globally connected organizations; and identity management to establish trust in personnel and monitor for insider threats.
The company is organized into two primary segments: Security Solutions and Secure Networks. The Security Solutions segment, which drives the majority of the company’s revenue, focuses on cybersecurity, cloud, and identity solutions. The Secure Networks segment concentrates on enterprise security, delivering comprehensive network management and defense solutions.
Telos has achieved significant recognition within the industry. In 2017, the company was ranked in the top 25 on the global Cybersecurity 500 list by Cybersecurity Ventures and received the prestigious James S. Cogswell Outstanding Industrial Security Achievement Award from the Defense Security Service (DSS), an accolade awarded to less than 0.3% of eligible organizations.
Recent highlights include a five-year contract with the Defense Information Systems Agency (DISA) for the Telos Automated Message Handling System (AMHS), supporting critical information distribution for the U.S. Department of Defense and a $6.7 million two-year contract extension with the Central Intelligence Agency (CIA) to continue using Telos' Xacta® professional services for their Commercial Cloud Enterprise (C2E) Assessment and Authorization efforts.
Telos is also expanding its footprint in identity management by opening new TSA PreCheck enrollment centers across the U.S., making it more convenient for travelers to enroll and renew their memberships. The company is dedicated to providing technology-forward solutions that anticipate and address the evolving threats and needs of its clients.
Telos Corporation (NASDAQ: TLS) reported a strong first quarter 2021 with revenue growth of 43% year-over-year to $55.8 million. Gross profit rose to $14.4 million. Despite these increases, the company faced a net loss of $(14.8) million and negative Enterprise EBITDA of $(12.1) million. The company remains optimistic, reaffirming its full-year guidance for revenue between $283 million to $295 million, reflecting a year-over-year improvement of up to 64%.
Telos Corporation (NASDAQ: TLS) has been awarded a $35 million contract by the Army Contracting Command. This five-year agreement supports the Yongsan Relocation Plan and involves comprehensive management of communication systems, including voice and wireless infrastructure. CEO John B. Wood emphasized the importance of this project for U.S. military operations in Korea. For more information on Telos' offerings, visit their website.
Telos Corporation (NASDAQ: TLS) announced that CEO John B. Wood and CFO Michele Nakazawa will present at the 16th Annual Needham Virtual Technology & Media Conference on May 19, 2021. The event features a virtual fireside chat scheduled for 2:15 p.m. ET, and interested investors can register to schedule one-on-one meetings with the company. The fireside chat will be available via live audio webcast and later archived on Telos’ investor relations website. Telos is a key provider of cybersecurity, cloud, and enterprise security solutions for various high-security organizations.
Telos Corporation (NASDAQ: TLS) has announced it will report its first quarter 2021 financial results on May 17, 2021, after market close. A conference call and webcast will be held at 4:30 p.m. ET to discuss the financial results and business outlook. Telos provides cybersecurity, cloud, and enterprise security solutions to federal agencies and commercial organizations worldwide. The call will be accessible via toll-free numbers for US/Canada, along with an international line. An on-demand replay will be available on Telos’ Investor Relations website.
Telos Corporation (NASDAQ: TLS) has secured a contract with the City of Charlotte to provide Transportation Security Administration (TSA)-approved Designated Aviation Channeling (DAC) services at Charlotte Douglas International Airport. This advanced service enhances credentialing operations by improving data integrity and reducing costs. The integration with the airport's Identity Management System allows efficient background checks for aviation workers, ensuring high security and customer service standards. With over 90 airports using Telos DAC services, the company continues to establish itself as a leader in aviation security.
Telos Corporation (NASDAQ: TLS) announced its Xacta solution will support all Microsoft Azure U.S. Government cloud instances, including Government, Secret, and Top Secret. Xacta automates compliance tasks related to security frameworks like NIST and ISO 27001, streamlining risk management. This integration allows customers to generate accreditation packages automatically and track compliance status, reducing the effort required for authorizations. The partnership with Microsoft aims to enhance efficiency in migrating workloads to Azure.
Telos Corporation (NASDAQ: TLS) announced the closing of its follow-on offering, successfully selling 9,090,909 shares of common stock at $33.00 per share. This offering included 7,040,909 shares from existing stockholders and generated gross proceeds of $64,605,750 after the underwriters' option was exercised. The offering was conducted under a 'shelf' registration statement filed with the SEC on March 31, 2021. The company did not receive proceeds from the shares sold by existing stockholders. B. Riley Securities, BMO Capital Markets, and Needham & Company were joint bookrunners for the offering.
Telos Corporation (Nasdaq: TLS) has priced its follow-on offering of 7,905,139 shares of common stock at $33.00 per share. This includes a secondary public offering of 6,662,073 shares from existing stockholders, with Telos not receiving proceeds from these sales. The offering is set to close on April 6, 2021. B. Riley Securities, BMO Capital Markets, and Needham & Company are the joint bookrunners. Telos has granted a 30-day option for underwriters to purchase an additional 1,185,770 shares, including shares from selling stockholders.
Telos Corporation (NASDAQ: TLS) announced a proposed follow-on public offering, including a secondary public offering by existing stockholders. The company will not receive proceeds from the stock sold by these sellers. B. Riley Securities, BMO Capital Markets, and Needham & Company are the joint bookrunners, with additional firms managing the offering. The shares are being offered under a shelf registration statement filed with the SEC. A 30-day option is granted to underwriters to purchase up to 15% more shares to cover over-allotments, if needed.
Telos Corporation (NASDAQ: TLS) reported a 13% revenue increase for FY 2020, totaling $179.9 million. Key contracts include a 10-year $1.5 billion TSA PreCheck agreement and a $2 billion CMS contract. Financial highlights showed net income of $1.7 million, up from a loss of $6.4 million in 2019. Gross profit rose 19% to $62.4 million. The company raised $292.6 million in its IPO, strengthening its balance sheet. For Q1 and FY 2021, Telos expects revenues between $49 million-$52 million and $283 million-$295 million, respectively, indicating strong growth potential.
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