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) 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.
Telos Corporation (NASDAQ: TLS) will report its fourth quarter and full year 2021 financial results on March 1, 2022. A webcast to discuss the results and company outlook will be held at 8:00 a.m. ET. Telos, a provider of cyber, cloud, and enterprise security solutions, serves various sectors, including government and commercial enterprises. Investors can access the webcast through the company’s Investor Relations website.
Telos Corporation (NASDAQ: TLS) announced strong growth in its Designated Aviation Channeling (DAC) service, securing five renewals and two new clients, including Kalitta Air and Kalitta Charters. Major clients renewing their services include Dayton International Airport and Philadelphia International Airport. The DAC service complies with TSA and DHS standards, enhancing security and efficiency in credentialing and vetting processes. Telos aims to maintain high customer satisfaction, evidenced by long-lasting partnerships with aviation clients, reinforcing its position in the cybersecurity sector.
Telos Corporation (NASDAQ: TLS) has announced that Oracle has selected its Xacta platform to enhance security compliance management. This collaboration aims to reduce both time and costs associated with compliance for Oracle's cloud services. Xacta's recent updates include machine-readable data exchange capabilities, facilitating risk management automation. The platform has proven effective in expediting authorizations within the federal government, thus supporting Oracle's accreditation goals across multiple classification levels.
Telos Corporation has appointed Bradley Jacobs and Derrick Dockery to its board of directors, following Bernard Bailey's decision not to stand for re-election after 16 years. Jacobs, with experience in the defense sector and finance, is expected to bring valuable insights. Dockery, a former NFL player, has a strong background in advocacy and government relations. CEO John B. Wood emphasized the strategic benefits of the new appointments during this exciting phase for Telos.
Telos Corporation (NASDAQ: TLS) will host small group meetings at the 24th Annual Needham Growth Conference on January 11, 2022. The company is recognized for providing advanced cyber, cloud, and enterprise security solutions tailored for security-conscious organizations globally. Telos empowers clients through solutions for IT risk management, cloud security, and enterprise security, including identity management and secure mobility. The firm serves various sectors, including commercial enterprises and government clients.
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