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) announced preliminary financial results for Q4 and FY 2020, projecting total revenue of approximately $44.7 million for Q4 and $179.7 million for the full year. Gross profit is expected to be around $15.8 million for Q4 and $62.2 million for the year, showing year-over-year growth. The release of full earnings will coincide with the Annual Report on Form 10-K, due by March 31, 2021. The company will provide 2021 guidance during this release, while acknowledging that preliminary results are subject to audit.
Telos Corporation (NASDAQ: TLS) has announced that the Social Security Administration (SSA) has exercised the first option year of its contract for the Xacta cybersecurity solution. This contract, originally awarded in September 2019, enhances SSA's cyber risk management by allowing ongoing assessments and continuous monitoring of systems. The Xacta solution improves data collection, risk management decisions, and compliance monitoring, transitioning SSA to more dynamic cybersecurity authorizations. The contract renewal is expected to bolster Telos's position in the cybersecurity sector.
Telos Corporation (NASDAQ: TLS) will release its fourth quarter and full year 2020 financial results on March 4, 2021, after market close. A conference call to discuss the results and future outlook is scheduled for 4:30 p.m. ET. Telos specializes in cybersecurity, cloud, and enterprise security solutions, catering to security-conscious organizations globally, including military and government agencies. The company's commitment to providing continuous security assurance is key to its business operations.
Telos Corporation (NASDAQ: TLS) has secured a renewed contract with the City of Philadelphia to provide Transportation Security Administration (TSA)-approved Designated Aviation Channeling (DAC) services at Philadelphia International Airport (PHL). This three-year contract will enhance credentialing operations by improving data integrity and reducing costs. Since 2017, Telos has facilitated background checks for aviation workers at PHL, integrating DAC services with the airport's identity management system. The web-based solution complies with TSA and Department of Homeland Security requirements.
Telos Corporation (NASDAQ: TLS) has secured a contract worth approximately $13.5 million from the FBI. This contract entails the deployment of Telos' Xacta solution to enhance governance, risk management, and compliance (GRC) within the Bureau's cyber security framework. The base value of the contract is over $4 million and spans a year, with options for four additional years. Xacta's capabilities include real-time risk assessments, customizable interfaces, and integration within various cloud architectures.
Telos Corporation (NASDAQ: TLS) announced the launch of its new Xacta supply chain risk management (SCRM) offering on January 14, 2021. This solution aims to help organizations identify security risks and compliance gaps in their supply chains. The Xacta SCRM facilitates prioritization of remediation efforts and enables ongoing risk management. In light of recent cybersecurity threats, like the SolarWinds breach, Telos emphasizes the necessity of effective supply chain risk management for organizational security.
ST Engineering has partnered with Telos Corporation to enhance cybersecurity solutions in the Asia-Pacific region. This alliance will integrate Telos' Ghost and Xacta technologies into ST Engineering's cloud governance offerings, aiding organizations in regulated sectors to boost their security compliance. The collaboration is aimed at addressing increasing cyber threats by streamlining compliance processes. ST Engineering, known for its technology and defense solutions, reported $7.9 billion in revenue in FY2019.
Telos Corporation has launched Xacta.io 1.5, enhancing its cyber risk and compliance platform to support AWS cloud resources. This update aims to address concerns raised by 86% of organizations regarding compliance when transitioning to the cloud. Users can now scan AWS resources, integrating results with on-premises data for comprehensive vulnerability analysis. New integrations with tools like Splunk and Amazon Inspector provide deeper insights into security vulnerabilities. This release emphasizes the importance of continuous monitoring and compliance across diverse environments.
Telos (Nasdaq: TLS) announced that CEO John B. Wood and CFO Michele Nakazawa will present at the 23rd Annual Needham Virtual Growth Conference on January 14, 2021. The presentation is set for 2:00pm E.T. and will include one-on-one investor meetings. Attendees can register through Needham & Company. The live audio webcast will be accessible on Telos’ investor relations website for subsequent viewing. Telos is recognized for its cybersecurity and cloud security solutions, serving various government and commercial sectors.
Telos Corporation has partnered with AWS to launch professional services in AWS Marketplace, enhancing its cloud service offerings. Customers can now easily purchase Telos professional services alongside software solutions in a single procurement experience. This integration aims to streamline the process for AWS users seeking to implement and manage workloads in the cloud. Telos introduces six service offerings, including Xacta training and assessments, to assist customers in their cloud migration journey.
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