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) will announce its first quarter financial results on May 10, 2022, before market open. A webcast is scheduled for 8:30 a.m. ET where management will discuss the results and the business outlook. Telos specializes in cybersecurity, cloud security, and enterprise security solutions for various sectors, including government and regulated industries. The company aims to empower organizations with continuous security assurance for individuals and information, making it a key player in the security solutions market.
Telos Corporation (NASDAQ: TLS) has launched its new Xacta 360 Lite for Cybersecurity Maturity Model Certification (CMMC) Virtual Machine Infrastructure. This solution aims to assist defense contractors in automating the CMMC assessment process, which is essential for safeguarding unclassified information. With approximately 300,000 federal contractors needing CMMC compliance, the offering allows for streamlined navigation through the certification process, managing compliance across multiple contracts, and accessing essential training materials. The product is now available on the Azure Marketplace.
Telos Corporation (NASDAQ: TLS) has launched its Telos Advanced Cyber Analytics (ACA) solution, enhancing cybersecurity for organizations facing evolving threats. This tool provides automated and actionable threat intelligence to identify malicious activity with greater speed and accuracy. With ACA, customers can detect threats earlier, reveal unknown attacks, and deliver key analytics to executives without costly overhead. CEO John B. Wood emphasizes the need to adapt to sophisticated cyber threats, as traditional defenses may be inadequate.
Telos Corporation (NASDAQ: TLS) has announced a partnership with Carahsoft Technology Corp to enhance cybersecurity solutions for the Public Sector. This partnership allows Carahsoft to distribute Telos’ cutting-edge security technologies, including Telos Ghost and Xacta, to federal, state, local, and educational agencies. With increasing cybersecurity challenges, this collaboration aims to empower public organizations to operate securely and comply with industry regulations. Key offerings are available through several government procurement contracts.
Telos Corporation (NASDAQ: TLS) received a notice from NASDAQ on March 17, 2022, due to non-compliance with filing requirements after failing to submit its Form 10-K by the March 16 deadline. The notice does not affect the trading of shares immediately. Telos has 60 days, until May 15, 2022, to submit a plan to regain compliance, which may grant an extension of up to 180 days to rectify the issue. The company aims to file the 2021 10-K and present a compliance plan to NASDAQ by the deadline.
Telos Corporation (NASDAQ: TLS) reported a 43% increase in quarterly revenue to $64.1 million for Q4 2021, driven by 37% growth in Security Solutions and 49% growth in Secure Networks. Gross profit rose 51% to $24.1 million, expanding gross margin by 196 basis points to 37.7%. Despite these gains, the company posted a GAAP net loss of $5.5 million. For 2022, Telos anticipates revenue guidance of $226 - $276 million, with a year-over-year growth forecast ranging from -7% to 6%.
Telos Corporation (NASDAQ: TLS) announced that its fourth quarter and full year 2021 earnings conference call will be held on March 16, 2022, due to delays in its 2021 Form 10-K filing. The delay arises from issues in completing its year-end financial reporting process, particularly regarding internal controls mandated by Sarbanes-Oxley Act Section 404. Despite these challenges, Telos expects its auditors to issue an unqualified opinion on its financial statements, and anticipates results for 2021 that align with prior guidance.
Telos Corporation (NASDAQ: TLS) has announced a $1.5 million contract extension with the National Security Agency (NSA), continuing a 14-year partnership. The contract includes an upgrade to the Xacta 360 solution, enhancing NSA's ability to manage cyber risk across various environments. The new system will provide improved risk management through continuous assessment and better compliance monitoring.
CEO John B. Wood emphasized the importance of this relationship, noting it enables high-quality risk management solutions for critical agency operations.
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