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 (NASDAQ: TLS) has secured a prime position on a $12.5 billion Department of the Air Force Base Infrastructure Modernization (BIM) contract. This multiple-award, indefinite-delivery/indefinite-quantity (IDIQ) contract aims to modernize, operate, and maintain network infrastructure across all Department of the Air Force locations, including Guard and Reserve bases. The contract, awarded after a competitive acquisition process, is expected to be completed by August 15, 2034, with task orders potentially extending beyond this date.
This award adds to Telos' recent contract vehicle wins since 2023, including DMDC DEHRADS, Army IMOD CAPSET, USMC ISTC BAN, and FBI IT-SSS 2nd Generation. Combined with BIM, these contracts represent a $24.5 billion addressable market for Telos to compete for new business opportunities.
Telos (NASDAQ: TLS), an authorized TSA PreCheck® enrollment provider, has expanded its services by opening eight new locations across seven states. This expansion brings Telos' total to 91 TSA PreCheck enrollment centers nationwide. The new centers, located in Office Depot stores, are in California, Colorado, Florida, Illinois, Ohio, Oklahoma, and Texas.
TSA PreCheck members enjoy expedited security screening at airports, with 99% of members waiting less than 10 minutes at checkpoints. Telos aims to provide more convenient enrollment and renewal options for travelers throughout 2024. Applicants can pre-enroll or schedule appointments through Telos' authorized TSA PreCheck website.
Telos (NASDAQ: TLS), an authorized TSA PreCheck® enrollment provider, has expanded its services by opening seven new locations across Illinois, Indiana, Louisiana, Michigan, Minnesota, Texas, and Washington. This expansion brings Telos' total TSA PreCheck enrollment centers to 83 across the U.S. The new centers, located in Office Depot stores, began operations on August 12, 2024.
TSA PreCheck offers travelers expedited security screening, with 99% of members waiting less than 10 minutes at airport checkpoints. Members can keep shoes, belts, and light jackets on, and leave electronics and 3-1-1 compliant liquids in carry-on bags. Telos plans to continue expanding its national footprint throughout 2024, offering more locations and extended hours for enrollment and renewals.
Telos (NASDAQ: TLS) reported Q2 2024 results exceeding guidance, with revenue of $28.5 million and expanded cash gross margin of 42.0%. Key highlights include:
- GAAP gross margin of 34.1%, down 349 basis points YoY
- Accelerated expansion of TSA PreCheck® enrollment locations from 28 to 83
- Expected to reach 500 TSA PreCheck® locations by 2025
- GAAP Net Loss of $7.8 million
- Adjusted EBITDA of ($2.9) million
Telos secured new orders for Xacta® and cyber services from various government and commercial clients. The company provided Q3 2024 guidance with revenue projected between $22-$24 million, representing a YoY decline of 34-39%.
Telos (NASDAQ: TLS), an authorized TSA PreCheck® enrollment provider, has expanded its services by opening seven new locations across six states. This expansion brings Telos' total TSA PreCheck enrollment centers to 76 across the U.S. The new centers, located in Arizona, California, Georgia, Ohio, Minnesota, and Texas, began operations on August 5, 2024.
TSA PreCheck members enjoy expedited security screening at airports, with 99% of members waiting less than 10 minutes at checkpoints nationwide. Telos plans to continue expanding its enrollment footprint throughout 2024, offering extended hours and more convenient locations for travelers. Applicants can pre-enroll or schedule appointments through Telos' authorized TSA PreCheck website.
Telos (NASDAQ: TLS), an authorized TSA PreCheck® enrollment provider, has expanded its services with a new location at the Eastern Iowa Airport (CID) in Cedar Rapids, Iowa. This marks Telos' first airport-based enrollment center and brings their total to 69 locations nationwide. The center, which opened on July 24, 2024, offers appointments for TSA PreCheck enrollment and renewals, operating Monday, Wednesday, and Thursday from noon to 4 p.m.
TSA PreCheck members enjoy expedited security screening, with 99% waiting less than 10 minutes at checkpoints. The program allows members to keep shoes, belts, and light jackets on, and leave electronics and compliant liquids in carry-on bags. This expansion demonstrates Telos' commitment to enhancing travel convenience for millions of Americans.
Telos (NASDAQ: TLS), a leading provider of cyber, cloud, and enterprise security solutions, has announced it will report its second quarter 2024 financial results on Friday, August 9, 2024. The company will host a webcast at 8:30 a.m. ET on the same day to discuss the financial results and business outlook. Investors and interested parties can access the webcast through the company's investor relations website. An on-demand replay of the webcast will be available after the event.
Telos (NASDAQ: TLS) will join the Russell 3000 Index on July 1, 2024, following the 2024 Russell U.S. Indexes annual reconstitution. This inclusion reflects Telos' advancements in capturing new business and its positive outlook on key programs. The announcement was made on June 27, 2024, with a preliminary list of additions released by FTSE Russell on June 21, 2024. CEO John B. Wood sees this as an opportunity to increase institutional ownership.
Office Depot and Telos announced the opening of five new TSA PreCheck enrollment locations at Office Depot stores in Georgia, Tennessee, and Texas, starting June 21, 2024. This expansion follows the addition of 20 new locations since May 2024. The partnership aims to ease TSA PreCheck enrollment with a total of 53 centers, including 51 at Office Depot and OfficeMax stores.
These new locations offer extended hours for TSA PreCheck enrollment and renewals, providing greater convenience for travelers. TSA PreCheck members enjoy expedited security screening at airports, with 99% waiting less than 10 minutes. New applicants can start their process online or schedule in-person appointments via Telos' authorized TSA PreCheck website.
Telos (NASDAQ: TLS), a premier provider of cyber, cloud, and enterprise security solutions, announced its participation in the Northland Capital Markets Virtual Growth Conference on June 25, 2024. John B. Wood, the chairman and CEO, along with Mark Bendza, the executive VP and CFO, will represent Telos at the event. This conference will provide an opportunity for investors and stakeholders to engage directly with Telos's leadership. For more details or to schedule one-on-one meetings, attendees are advised to contact their Northland Capital Markets representative.
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