Telos Q3 revenue $63.6M beats guidance; lowers FY2022 outlook on Secure Networks; EVP retiring

TELOS CORP

2022-Q3 EPS reported -$0.51 revenue$169,544,000

Q3 revenue $63.6M (above guidance high); GAAP net loss $7.3M; adjusted EBITDA $8.6M (above guidance).
FY2022 guidance lowered primarily due to shortfall in short-lead-time Secure Networks business in Q4.
Brendan Malloy, EVP Secure Networks, retiring at end of 2022 after 26 years.
Cash flow from ops $12.0M; free cash flow $8.4M; deployed $4.7M to share repurchases in Q3.
Security Solutions rev $32.4M (48% margin); Secure Networks rev $31.2M (17.2% margin).

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Brendan Malloy

Executive Vice President of Secure Networks

TLS · TELOS CORP

Effective: 2022-12-31
Filed: November 9, 2022, 6:59 PM ET

On November 3, 2022, Mr. Brendan Malloy, Executive Vice President of Secure Networks, informed the Company that he is retiring at the end of 2022 after serving Telos and its customers for over 26 years.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TELOS CORP reported the quarter ended September 30, 2022 results: revenue $63.6 million, net income $7.3 million, EPS $(0.11) per diluted share. Guidance lowered.

Period: the quarter ended September 30, 2022
Revenue: $63.6 million
Net income: $7.3 million
EPS: $(0.11) per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

of 1933, except as shall be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Telos Corporation Announces Third Quarter Results: Delivers $63.6 Million of Revenue, 32.9% Gross Margin, and $12.0 Million of Cash Flow from Operations • Exceeded High End of Guidance Range on All Financial Metrics • Generated $12.0 Million of Cash

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brendan Malloy departed as Executive Vice President of Secure Networks at TELOS CORP.

Action: retiring
Role: Executive Vice President of Secure Networks

Exact text from the filing

On November 3, 2022, Mr. Brendan Malloy, Executive Vice President of Secure Networks, informed the Company that he is retiring at the end of 2022 after serving Telos and its customers for over 26 years.

View on SEC.gov

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Source: SEC EDGAR

accession 0000320121-22-000123

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