Telos Q2 revenue $55.8M above guidance; GAAP net loss $12.3M; starts share repurchases

TELOS CORP

2022-Q2 EPS reported -$0.40 revenue$105,951,000

Revenue $55.8M, above high end of guidance; gross margin 37.5%, also above guidance range.
GAAP net loss $12.3M ($0.18 per diluted share); adjusted net income $2.8M, adjusted EPS $0.04.
Cash flow from operations $7.9M; free cash flow $5.4M; repurchased $3.0M of stock.
Formed strategic partnership with IBM; updates full-year 2022 guidance.
First-half gross margin expanded 374 bps YoY to 40.0% (not reported in Q2 alone).

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