Telos Q1 revenue falls 30% to $35.2M; net loss improves 35%; reaffirms FY guidance

TELOS CORP

2023-Q1 EPS reported -$0.16 revenue$35,222,000

Revenue of $35.2M, down from $50.2M YoY; gross margin expanded 66 bps to 38.3%.
GAAP net loss of $10.7M ($0.16 EPS) vs $16.6M ($0.25 EPS) a year ago – improvement of 35%.
Adjusted net loss $2.5M ($0.04 adjusted EPS) compared to $0.7M loss in Q1 2022.
Adjusted EBITDA was negative $0.8M, versus positive $1.0M in prior year.
Company reaffirms full-year 2023 guidance; results exceeded high end of guidance range.

item 2.02 item 9.01

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 updated its the quarter ended March 31, 2023 guidance (reaffirmed).

Period: the quarter ended March 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On Wednesday, May 10, 2023, Telos Corporation (the “Company”) issued a press release reporting certain financial results of the Company for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0000320121-23-000021

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