Telos Q3 revenue $36.2M, beats guidance; raises full-year outlook on all metrics

TELOS CORP

2023-Q3 EPS reported -$0.40 revenue$104,319,000

Revenue $36.2M, above high end of guidance; down 43% YoY from $63.6M.
GAAP net loss $8.7M ($0.12 EPS); adjusted net loss $4.7M ($0.07 adjusted EPS).
Gross margin expanded 303 bps YoY to 36.0%; non-GAAP gross margin 41.5%.
Generated $0.8M cash from operations; free cash flow negative $3.0M.
Raised full-year 2023 outlook for revenue, margins, and adjusted EBITDA.

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 reported the third quarter 2023 results: revenue $36.2 million, net income GAAP Net Loss $(8.7), EPS GAAP EPS $(0.12). Guidance raised.

Period: the third quarter 2023
Revenue: $36.2 million
Net income: GAAP Net Loss $(8.7)
EPS: GAAP EPS $(0.12)
Guidance: raised
Result: reported results

Exact text from the filing

Margin, Returns to Positive Cash Flow From Operations, and Raises Full-Year Outlook • Reports Third Quarter Results Above High End of Guidance Range on All Metrics • Delivered $36.2 Million of Revenue, Reflecting Outperformance by Security Solutions and Official Launch of TSA PreCheck ® Program • Expanded Gross Margin by 303 Basis Points Year-over-Year to 36.0%;

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Source: SEC EDGAR

accession 0000320121-23-000053

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