Telos Q3 revenue $70.1M (+48% YoY); record gross profit; raises FY guidance

TELOS CORP

2021-Q3 EPS reported -$0.59 revenue$178,383,000

Revenue $70.1M, up 48% reported, 80% adjusted excluding Census contract; driven by Xacta, Telos ID, Secure Networks.
Record gross profit $26.1M (+57% YoY); gross margin 37.2% (+229 bps); every segment contributed to expansion.
GAAP net loss $(5.4)M vs $2.5M income; adjusted net income $6.8M; adjusted EBITDA $8.4M up from $5.8M.
Cash flow from operations $12.5M; free cash flow $9.4M; FY guidance raised to sales $240-245M, adj EBITDA $18-19M.
COO Edward Williams retiring, stepping down immediately; Mark Griffin (Telos ID) and Brendan Malloy (Secure Networks) to lead respective units.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Edward Williams

Executive Vice President, Chief Operating Officer

TLS · TELOS CORP

Effective: 2021-11-11
Filed: November 15, 2021, 6:59 PM ET

On November 11, 2021, Mr. Edward Williams, Executive Vice President, Chief Operating Officer, informed the Company that he is retiring.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Edward Williams retired as Executive Vice President, Chief Operating Officer at TELOS CORP.

Action: retired
Role: Executive Vice President, Chief Operating Officer

Exact text from the filing

On November 11, 2021, Mr. Edward Williams, Executive Vice President, Chief Operating Officer, informed the Company that he is retiring.

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TELOS CORP filing history →

Source: SEC EDGAR

accession 0000320121-21-000058

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