secwatch.observer — SEC 8-K summary
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Issuer:     TELOS CORP (TLS)
CIK:        0000320121
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0000320121-24-000018
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Telos Q1 revenue $29.6M (above guidance), GAAP net loss $7.4M narrows YoY
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- Revenue $29.6M, down 16% YoY from $35.2M; beat high end of guided range.
- GAAP gross margin 37.0% (down 127bps); cash gross margin expanded 249bps to 42.2%.
- GAAP net loss $(7.4)M vs $(10.7)M YoY; GAAP EPS $(0.10), adjusted EPS $(0.08).
- Adjusted EBITDA $(2.3)M (7.9% margin) vs $(0.8)M (2.4% margin) a year ago.
- Expects sequential revenue growth in Q3 or Q4 '24, subject to protest resolution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/320121/000032012124000018/0000320121-24-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/320121/000032012124000018/tls-20240510.htm
  HTML page:      https://secwatch.observer/filing/0000320121-24-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer