Telos Corporation Awarded $5.8 Million Contract with National Geospatial-Intelligence Agency

Rhea-AI Summary

Telos Corporation (NASDAQ: TLS) secures a $5.8 million, five-year contract with the National Geospatial-Intelligence Agency (NGA) to continue providing support for Xacta 360 and Xacta.io. This reaffirms Telos' 16-year relationship with NGA, showcasing their commitment to delivering world-class geospatial intelligence. The contract will streamline NGA's compliance and cyber risk management, with Xacta 360 enabling faster system authorization and real-time enterprise reporting through ERODs deployment. Xacta.io will support data ingestion and continuous monitoring, further enhancing NGA's cybersecurity capabilities.

Cybersecurity leader to expand on longstanding NGA relationship with continued Xacta support

ASHBURN, Va., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Telos Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced a $5.8 million, five-year contract award with the National Geospatial-Intelligence Agency (NGA). The contract builds on Telos’ 16-year relationship with NGA and includes renewals of both Xacta 360 and Xacta.io.

“We’re pleased to continue supporting NGA in its mission to deliver world-class geospatial intelligence,” said John B. Wood, CEO and chairman, Telos. “At Telos, we pride ourselves on providing the tools and knowledge necessary for organizations like NGA to operate quickly, accurately and with ease. This is a positive next step in a longtime relationship, and we are honored to help NGA streamline its compliance and effectively manage cyber risk.”

With this new contract, NGA will continue to leverage Xacta 360 to speed the time to delivery for its systems. Using Xacta, 70% of NGA systems receive an Authority to Operate (ATO) within six weeks and almost 10% of their systems receive an ATO in one day. Xacta 360 will also support NGA’s unique implementation of the NIST Risk Management Framework, helping to automate the tailoring of the control set based on operational needs. With the Enterprise Reports on Demand (ERODs) deployment, Xacta 360 will also aid in agency reporting by providing real-time enterprise metrics on a massive scale to NGA senior leadership.

NGA will continue to benefit from Xacta.io by deploying the solution to ingest data from various applications within NGA’s toolset. This enables NGA to automatically populate the authorization package during the initial assessment, as well as to maintain continuous monitoring.

The Xacta suite of enterprise cyber risk management and compliance automation solutions helps organizations meet the complex challenges of managing IT risk with continuous compliance monitoring, security assessment and ongoing authorization. For more information about Xacta, including various use cases, visit www.telos.com/xacta.

Forward-Looking Statements
This press release contains forward-looking statements which are made under the safe harbor provisions of the federal securities laws. These statements are based on the Company’s management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to them. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in the Company’s filings and reports with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2022, as well as future filings and reports by the Company, copies of which are available at https://investors.telos.com and on the SEC’s website at www.sec.gov.

Although the Company bases these forward-looking statements on assumptions that the Company’s management believes are reasonable when made, they caution the reader that forward-looking statements are not guarantees of future performance and that the Company’s actual results of operations, financial condition and liquidity, and industry developments, may differ materially from statements made in or suggested by the forward-looking statements contained in this release. Given these risks, uncertainties and other factors, many of which are beyond its control, the Company cautions the reader not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date of such statement and, except as required by law, the Company undertakes no obligation to update any forward-looking statement publicly, or to revise any forward-looking statement to reflect events or developments occurring after the date of the statement, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.

About Telos Corporation
Telos Corporation (NASDAQ: TLS) empowers and protects the world’s most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos’ offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions for identity and access management, secure mobility, organizational messaging, and network management and defense. The company serves commercial enterprises, regulated industries and government customers around the world.

Media:
media@telos.com

Investors:
InvestorRelations@telos.com

FAQ

What is the contract amount and duration for Telos Corporation's new agreement with NGA?

Telos Corporation secured a $5.8 million, five-year contract with the National Geospatial-Intelligence Agency (NGA).

How long has Telos Corporation been working with NGA?

Telos Corporation has had a 16-year relationship with NGA, emphasizing their longstanding partnership.

What solutions will Telos Corporation provide to NGA under the new contract?

Under the new contract, Telos Corporation will continue to provide support for Xacta 360 and Xacta.io, aiding NGA in compliance, cyber risk management, and real-time enterprise reporting.

How will Xacta 360 benefit NGA?

Xacta 360 will enable faster system authorization for NGA, with 70% of systems receiving an Authority to Operate (ATO) within six weeks and almost 10% receiving an ATO in one day. It will also support NGA's unique implementation of the NIST Risk Management Framework and aid in agency reporting through ERODs deployment.

What is the role of Xacta.io in NGA's operations?

Xacta.io will support data ingestion from various applications within NGA's toolset, enabling automatic population of authorization packages during initial assessment and continuous monitoring.