Telos Corporation Receives Follow-on Contract with National Security Agency

Rhea-AI Summary

Telos Corporation (NASDAQ: TLS) has secured a five-year contract with the National Security Agency (NSA) to enhance its cybersecurity solutions, continuing a partnership that began in 2007. This contract involves licensing Xacta 360 and Xacta.io, while implementing new services that improve integration and efficiency. The expansion of this contract aims to help the NSA manage cyber risks more effectively, utilizing a new technology stack for streamlined operations. The deal reflects Telos' commitment to national security and influence in cybersecurity management.

Positive

• Secured a five-year contract with NSA, enhancing long-term relationship.
• Implements new services that improve integration and efficiency for NSA.
• Continues to provide critical cybersecurity solutions to a major government agency.

Negative

• None.

Cybersecurity leader lands five-year contract to strengthen longtime NSA relationship

ASHBURN, Va., Feb. 23, 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, announced today a five-year contract with the National Security Agency (NSA).

With this contract, NSA is continuing its licensing of Xacta 360 and Xacta.io while also acquiring new services to maintain both products in an ever-evolving environment. These services bring enhanced ease of use to the agency, including a robust integration of the Xacta 360 API to replace legacy Extract Transform Load (ETL) database warehouses with an on-demand, ad-hoc solution in the Xacta API.

“Our trusted team of security professionals are working alongside the NSA to secure some of the nation’s most critical assets and information,” said John B. Wood, CEO and chairman, Telos. “Our team is proud to further build on the 15-year relationship with the NSA, and we are honored to provide them with the tools necessary to securely and efficiently manage cyber risks.”

Telos began working with the NSA in 2007, and in 2020, the NSA extended the contract to maximize the value of real-time security risk and compliance data, enabling the agency to derive intelligence and actively manage cyber risks. Today’s continuation of this contract allows the NSA to take advantage of numerous efficiencies available with the new technology stack.

“Working with Telos over the years has had a positive impact on the agency’s ability to combat security threats in an ever-changing risk and compliance environment,” said Tim Jacob, deputy chief of authorization services at the NSA. “When it comes to strengthening national security, there is no room for error nor time for inefficiencies, which is why this contract expansion is a natural and logical next step for us.”

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, 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 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. 

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