secwatch.observer — SEC 8-K summary
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Issuer:     TELOS CORP (TLS)
CIK:        0000320121
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0000320121-22-000123
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/320121/000032012122000123/0000320121-22-000123-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/320121/000032012122000123/tls-20221103.htm
  HTML page:      https://secwatch.observer/filing/0000320121-22-000123

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