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Telos Corporation Announces Second Quarter Results Above Guidance: Reports $28.5 Million of Revenue, 34.1% GAAP Gross Margin, and 42.0% Cash Gross Margin
Telos (NASDAQ: TLS) reported Q2 2024 results exceeding guidance, with revenue of $28.5 million and expanded cash gross margin of 42.0%. Key highlights include:
- GAAP gross margin of 34.1%, down 349 basis points YoY
- Accelerated expansion of TSA PreCheck® enrollment locations from 28 to 83
- Expected to reach 500 TSA PreCheck® locations by 2025
- GAAP Net Loss of $7.8 million
- Adjusted EBITDA of ($2.9) million
Telos secured new orders for Xacta® and cyber services from various government and commercial clients. The company provided Q3 2024 guidance with revenue projected between $22-$24 million, representing a YoY decline of 34-39%.
- GAAP gross margin of 34.1%, down 349 basis points YoY
- Accelerated expansion of TSA PreCheck® enrollment locations from 28 to 83
- Expected to reach 500 TSA PreCheck® locations by 2025
- GAAP Net Loss of $7.8 million
- Adjusted EBITDA of ($2.9) million
Telos secured new orders for Xacta® and cyber services from various government and commercial clients. The company provided Q3 2024 guidance with revenue projected between $22-$24 million, representing a YoY decline of 34-39%.
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