secwatch.observer — SEC 8-K summary
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Issuer:     TELOS CORP (TLS)
CIK:        0000320121
Form:       8-K
Filed at:   2021-11-15T23:59:59+00:00
Accession:  0000320121-21-000058
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/320121/000032012121000058/0000320121-21-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/320121/000032012121000058/tls-20211111.htm
  HTML page:      https://secwatch.observer/filing/0000320121-21-000058

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