Telos Corporation Awarded Contract Extension with National Security Agency

Rhea-AI Summary

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.

Positive

• Contract extension worth $1.5 million with NSA.
• 14-year partnership with NSA demonstrates strong client trust.
• Upgrade to Xacta 360 enhances risk management capabilities.
• Improved continuous assessment and compliance monitoring features.

Negative

• None.

Cybersecurity leader to build on deep-rooted NSA relationship with additional Xacta support and deployment of Xacta 360

ASHBURN, Va., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Telos^® Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, announced today a $1.5 million, one-year contract extension with the National Security Agency (NSA). This contract builds on Telos’ 14-year relationship with NSA and includes an expansion of its Xacta^® solution deployment with the upgrade to Xacta 360.

“With such a high caliber of cryptographic and communications intelligence and security within the NSA, managing cyber risk is a major priority,” said John B. Wood, CEO and chairman, Telos. “It’s an honor to build upon our 14-year relationship with the NSA to ensure they receive the highest quality products to manage cyber risk effectively and ease compliance concerns.”

With the upgrade to Xacta 360, NSA security personnel can better manage risk through the continuous assessment and authorization of their on-premises, cloud and hybrid environments. Xacta 360’s advanced capabilities provide a comprehensive view of their security and compliance posture for immediate analysis and action. By leveraging modern usability features and additional automations, NSA can maximize the value of real-time security risk and compliance data to derive the intelligence required to actively manage cyber risk across the agency.

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 their Annual Report on Form 10-K for the year ended December 31, 2020 and their Report on Form 10-Q for the quarter ended September 30, 2021, 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 they believe 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 their 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:
Mia Wilcox
media@telos.com
(610) 564-6773

Investors:
InvestorRelations@telos.com

FAQ

What is the significance of the recent contract extension for Telos Corporation?

The recent $1.5 million contract extension with the NSA allows Telos to continue providing enhanced cybersecurity solutions, strengthening its longstanding relationship with a key government client.

How does the upgrade to Xacta 360 benefit the NSA?

The upgrade to Xacta 360 improves the NSA's ability to manage cyber risk through continuous assessments and enhanced visibility into their security and compliance posture.

When was the contract extension with the NSA announced?

The contract extension with the NSA was announced on February 24, 2022.

What is the duration of Telos Corporation's relationship with the NSA?

Telos Corporation has had a relationship with the NSA for 14 years.

What are the primary offerings of Telos Corporation?

Telos Corporation provides cybersecurity solutions, cloud security, and enterprise security services aimed at protecting sensitive information and ensuring compliance.