secwatch.observer — SEC 8-K summary
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Issuer:     TELOS CORP (TLS)
CIK:        0000320121
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0000320121-23-000021
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/320121/000032012123000021/0000320121-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/320121/000032012123000021/tls-20230510.htm
  HTML page:      https://secwatch.observer/filing/0000320121-23-000021

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