secwatch.observer — SEC 8-K summary
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Issuer:     TELOS CORP (TLS)
CIK:        0000320121
Form:       8-K
Filed at:   2022-08-09T23:59:59+00:00
Accession:  0000320121-22-000113
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/320121/000032012122000113/0000320121-22-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/320121/000032012122000113/tls-20220809.htm
  HTML page:      https://secwatch.observer/filing/0000320121-22-000113

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer