Telos Corporation
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a TLS research report →
Range $3 – $10
Price Chart
About the company
Telos Corporation is a global provider of information technology solutions and services. A cornerstone offering is Xacta, a leading platform for automated cyber risk management and security compliance, serving major commercial organizations and government bodies. Another key solution, Telos Ghost, is engineered to diminish cyber-attack surfaces by anonymizing user identities and locations, encrypting data, and obscuring network resources.
- CEO
- John Wood
- IPO
- 2020
- Employees
- 517
- HQ
- Ashburn, VA, US
Get TickerSpark's AI analysis on TLS
Create an account to generate AI analysis on any ticker — technical setup, analyst consensus, earnings watch, insider pulse, financial health, and peer context. Ready in about a minute.
Get Pro Access →Already have an account? Log in
Similar companies
Peers in the same neighborhood.
- Market Cap
- $329.95M
- P/E
- -21.00
- Fwd P/E
- 29.01
- PEG
- -0.19
- P/S
- 1.70
- P/B
- 3.54
- EV/EBITDA
- -113.60
- Div Yield
- 0.00%
- Gross Margin
- 36.78%
- Op Margin
- -1.96%
- Net Margin
- -8.13%
- ROE
- -15.53%
- ROIC
- -3.60%
Latest fiscal year · YoY change
- Revenue
- $164.81M+52.2%
- Gross Profit
- $61.02M+77.2%
- Op Income
- $-24,471,000
- Net Income
- $-36,546,000+30.4%
- EPS
- $-0.50+31.5%
- OCF Growth
- +216.4%
- FCF Growth
- +204.4%
- 52W High
- $8.36
- 52W Low
- $3.79
- 50D MA
- $4.57
- 200D MA
- $4.84
- Beta
- 0.97
- RSI (14)
- 47
- Avg Volume
- 711.55K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Telos delivered a strong second quarter, with revenue and profitability above guidance, robust free cash flow, and a higher full-year EBITDA outlook despite lower-revenue mix changes ahead.· August 10, 2026
- Q2 revenue rose 33% year over year to $47.7 million, above the $44 million to $46 million guide.
- GAAP gross margin was 35% and cash gross margin was 40.6%, both better than expected.
- Adjusted EBITDA came in at $6.9 million versus $5 million to $6 million guided; margin expanded to 14.4% from 1.1% last year.
- Free cash flow was $6.6 million, a 13.9% margin, marking the sixth straight quarter above 12%.
- Management raised full-year adjusted EBITDA, EBITDA margin, and cash gross margin outlooks, while revenue guidance was reduced by the planned phaseout of low-margin software resale.
Total company revenue increased 33% year over year to $47.7 million, above guidance of $44 million to $46 million. GAAP gross margin was 35% and cash gross margin was 40.6%; adjusted operating expenses declined by more than $800 thousand year over year but were about $500 thousand above assumptions. Adjusted EBITDA was $6.9 million versus guidance of $5 million to $6 million, with adjusted EBITDA margin at 14.4% versus 1.1% in the prior year. Operating cash flow was $8.8 million and free cash flow was $6.6 million, a 13.9% margin. For Q3, revenue is guided to $49.2 million to $50.6 million, cash gross margin to 37.5% to 38.5%, adjusted operating expenses about $400 thousand lower than the prior year, and adjusted EBITDA to $6 million to $6.8 million. Full-year revenue outlook is $187 million to $195 million; adjusted EBITDA is raised to $23.6 million to $28.6 million from $20.6 million to $28 million; adjusted EBITDA margin is raised to 12.6% to 14.7%; and cash gross margin is raised to 39% to 40% from 38.2% to 39.5%.
John Wood said the quarter showed Telos is becoming a more profitable, cash-generative, and scalable business. He emphasized the company’s focus on solving mission-critical security problems for customers through cybersecurity, digital identity, and secure networking, and said management remains confident in the strategy and pipeline. His tone was constructive and shareholder-oriented, including a willingness to consider a change-of-control transaction if it clearly created superior value.
Mark Bendza highlighted strong execution across revenue, margins, and cash flow, noting that results exceeded the high end of guidance and that cash generation remains a core strength. He cited $47.7 million of revenue, 35% GAAP gross margin, 40.6% cash gross margin, $6.9 million of adjusted EBITDA, and $6.6 million of free cash flow, plus $4.7 million spent to repurchase more than 1 million shares at an average price of $4.50. He also walked through the guidance raise, explaining that better first-half gross margin, lower OpEx, and the phaseout of low-margin third-party software support a higher full-year EBITDA and cash gross margin outlook even as revenue is trimmed by about $2.5 million at the midpoint.
Analysts focused on TSA PreCheck momentum, the new post office pilot, the upcoming government award cycle, and the phasing out of low-margin software revenue. Management said TSA PreCheck is doing well, with market share up significantly year over year and normal second-half seasonality expected, while the post office pilot is expanding with a couple additional sites coming soon. On the pipeline, they said there is now a little over $500 million in proposals outstanding, with award decisions expected in the second half and potentially into the fourth quarter if budget timing allows; they also clarified that the $33 million of phased-out software revenue is separate from the Q3 2025 nonrecurring startup revenue and began around Q2 2025.
The call showed broad operating momentum: revenue beat guidance, margins outperformed, and free cash flow stayed above 12% for a sixth straight quarter. Management also raised full-year EBITDA, margin, and cash gross margin outlooks, while saying the pipeline remains healthy with over $500 million in proposals and significant upside from future awards.
Revenue guidance is being held down by the planned exit of low-margin third-party software resale, and Q3 cash gross margin is expected to dip to 37.5% to 38.5% because of mix and contingency assumptions. Management also acknowledged seasonality in TSA PreCheck, dependence on government award timing, and some uncertainty around budget-related procurement timing into the fourth quarter.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 71.1%
- Shares Outstanding
- 74.82M
- Float Shares
- 53.22M
of shares held by institutions
160 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 3.05M | ▲ 134.92K |
| Two Sigma Advisers, LP | 609.60K | ▲ 260.50K |
| Cubist Systematic Strategies, LLC | 306.23K | ▲ 135.99K |
| Hemington Wealth Management | 45.02K | ▲ 30.02K |
| Cwm, LLC | 36.73K | ▲ 29.28K |
| California State Teachers Retirement System | 2.88K | ▼ 395 |
| Comerica Bank | 165 | 0 |
| Point72 Europe (London) Llp | 83 | ▲ 83 |
| Sunbelt Securities, Inc. | 58 | ▲ 22 |
Held by 163 ETFs
Biggest fund positions in TLS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 14, 26 | Terreri Donald Joseph | other | 1,382 |
| Aug 12, 26 | Dockery Derrick D. | sell | 11,000 |
| Jun 24, 26 | Bendza Gary Mark | sell | 71,884 |
| Jun 25, 26 | Bendza Gary Mark | sell | 97,976 |
| Jun 26, 26 | Bendza Gary Mark | sell | 80,140 |
| Jun 24, 26 | Dockery Derrick D. | sell | 7,000 |
| Jun 22, 26 | Jacobs Bradley W. | sell | 55,772 |
| May 28, 26 | Dockery Derrick D. | sell | 8,000 |
| May 26, 26 | Wood John B | other | 362,734 |
| May 26, 26 | Wood John B | other | 544,101 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our TLS coverage
Recent articles, reports, and earnings notes.
No research on TLS yet
For a full analyst-grade research report — grades, price targets, financials, chart analysis — generate one on demand.
Generate TLS report →Telos Corporation (TLS) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 10
Telos Q2 Earnings Call Highlights
marketbeat.com · Aug 10
Telos Corporation (TLS) Q2 Earnings and Revenues Beat Estimates
zacks.com · Aug 10
Telos Corporation Announces Second Quarter 2026 Earnings
globenewswire.com · Aug 10
Telos Corporation (TLS) Earnings Expected to Grow: Should You Buy?
zacks.com · Aug 3
Telos (NASDAQ:TLS) & Fair Isaac (NYSE:FICO) Critical Survey
defenseworld.net · Jul 30
Telos Corporation to Announce Second Quarter 2026 Financial Results on August 10, 2026
globenewswire.com · Jul 27
Telos: Substantial Pipeline Opportunities And Likely Guidance Raise
seekingalpha.com · Jul 23
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.