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) 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.
Telos Corporation (NASDAQ: TLS) announced the appointment of Troy M. Bertram as Vice President to lead global enterprise sales teams. With over 25 years of experience in business development and sales, Bertram previously served as Chief Revenue Officer at Saildrone and held significant roles at Amazon Web Services and Dell Technologies. CEO John B. Wood emphasized Bertram's potential to enhance the company's momentum in commercial and regulated sectors. Telos specializes in cybersecurity solutions for government and commercial organizations, focusing on continuous security assurance.
Telos Corporation (NASDAQ: TLS) is set to report its fourth quarter and full year 2020 financial results on March 25, 2021, after market close. A conference call will follow at 4:30 p.m. ET, where management will discuss financial outcomes, recent developments, and future outlook. Telos specializes in cyber, cloud, and enterprise security solutions for high-security organizations, including government and commercial sectors.
Telos Corporation (NASDAQ: TLS) has partnered with Zscaler to utilize its enterprise cyber risk management framework, Xacta, for automating FedRAMP and DoD authorizations. This phased implementation will begin with Zscaler's current System Security Plan and extend to new integrations enhancing compliance efficiency for federal clients. John B. Wood, CEO of Telos, expressed optimism about future collaboration to streamline IT security compliance.
The integration aims to meet evolving regulatory requirements as agencies transition to complex multi-cloud environments.
Telos Corporation (NASDAQ: TLS) has appointed Nathan Lefebvre as program manager to lead digital identity initiatives in the transportation sector. With over 20 years of experience, including key roles at the TSA, Lefebvre's expertise in security technologies and screening processes is expected to enhance Telos' momentum in digital identity solutions. This strategic hire aligns with Telos’ commitment to innovative security measures and growing its identity solutions in response to future airport security and traveler screening needs.
Telos Corporation (NASDAQ: TLS) has formed a strategic partnership with Johnson Controls to integrate Telos Ghost into the OpenBlue Cloudvue Gateway. This collaboration aims to enhance security and privacy for customers by embedding a virtual obfuscation network that conceals camera sources and destination information. The integration will benefit multiple sectors including education and healthcare. The partnership is expected to create significant market opportunities and bolster Telos's presence in the IoT space.
Telos Corporation (NASDAQ: TLS) has partnered with Omnilert to integrate the Telos Ghost virtual obfuscation network into the Omnilert Gun Detect system. This partnership enhances the AI-powered visual gun detection solution, improving security measures in active shooter situations. The integration allows for source location masking and will be jointly marketed across sectors like education and healthcare. This collaboration emphasizes Telos’ commitment to leveraging cybersecurity technology for public safety.
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