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) and SteelCloud LLC have partnered to automate NIST Risk Management Framework (RMF) compliance. This collaboration aims to simplify the complex orchestration involved in RMF compliance by providing customers with access to all seven RMF steps through a unified solution. Their integrated products, ConfigOS and Xacta, enhance compliance by automating the identification, assessment, and remediation processes, significantly reducing the time and effort required for achieving Authorization to Operate (ATO).
Telos Corporation (NASDAQ: TLS) reported strong third-quarter results, surpassing financial guidance with revenues of $63.6 million and cash flow from operations of $12.0 million. Adjusted EBITDA reached $8.6 million, showcasing effective cost management. However, the company lowered its 2022 guidance due to a lack of new wins in its Secure Networks segment, expecting full-year revenues of $213 million to $217 million. Notably, the TSA granted an authority to operate for its PreCheck® System, highlighting future growth potential.
Telos Corporation (NASDAQ: TLS) will report its third-quarter financial results on November 9, 2022, before market opening. A webcast will follow at 8:30 a.m. ET where management will discuss the results and business outlook. This event underscores Telos' commitment to transparency and investor communication in the cybersecurity sector, which includes services for IT risk management, cloud security, and enterprise solutions.
Telos Corporation (NASDAQ: TLS) has secured a contract with the Maryland Aviation Administration to provide a Transportation Security Administration (TSA)-approved Designated Aviation Channeling (DAC) service at Baltimore/Washington International Thurgood Marshall Airport (BWI). This service enhances credentialing operations by streamlining background checks for airport workers, ensuring data integrity, and reducing costs. Telos is recognized for its advanced biometric solutions, currently utilized by over 100 airports and airlines. The DAC service aligns with TSA and Department of Homeland Security requirements, reinforcing aviation security.
Telos Corporation (NASDAQ: TLS) has announced a collaboration with IBM Security to tackle compliance challenges in cybersecurity. This partnership is part of IBM's Active Governance Services (AGS), aimed at automating compliance processes and combating audit fatigue, which affects organizations' efficiency. A 2020 study revealed that enterprises face an average of 13 IT security regulations, requiring significant resources to manage. The new AGS solution promises to reduce compliance time by up to 90% and optimize reporting and monitoring efforts across various infrastructures.
Telos Corporation launched new enhancements for its Xacta cyber risk management platform, enabling users to quantify cyber risks in financial terms. This update includes intelligent workflow capabilities that automate processes to reduce manual input, enhancing efficiency. Additionally, new API integrations with Tenable and STIG Viewer expand the platform's capabilities for managing vulnerabilities. These advancements align with Gartner's recognition of cyber risk quantification as a top trend in IT risk management for 2022, underscoring the growing importance of understanding cyber risks in financial contexts.
Telos Corporation (NASDAQ: TLS) has reported growth in its Designated Aviation Channeling service, with eleven customer renewals and new clients in the U.S. commercial aviation sector. Notable clients include USA Jet Airlines and California Redwood Coast Humboldt County Airport. Telos' service complies with TSA and DHS standards for data security and identity verification, addressing insider threats. The company has over 100 aviation clients benefiting from its advanced biometric solutions, aimed at enhancing operational efficiency and security in the aviation industry.
Telos Corporation (NASDAQ: TLS) reported $55.8 million in revenue for Q2 2022, exceeding expectations, and a gross margin of 37.5%, up 374 basis points year-over-year. The company generated $7.9 million in cash flow from operations and initiated a $3.0 million stock buyback program. Adjusted net income was $2.8 million, translating to $0.04 per share. Despite positive operational cash flow, the company anticipates revenue growth to slow in the second half of 2022, and has updated its full-year revenue guidance to $226 - $242 million.
Telos Corporation (NASDAQ: TLS) will report its second quarter financial results on August 9, 2022, before market opening. A webcast discussing the results and future business outlook will take place at 8:30 a.m. ET on the same day. Telos provides cybersecurity, cloud security, and enterprise security solutions to highly security-conscious organizations, including commercial enterprises and government customers worldwide. The company is known for its continuous security assurance solutions encompassing IT risk management and identity access management.
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