secwatch.observer — SEC 8-K summary
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Issuer:     TELOS CORP (TLS)
CIK:        0000320121
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0000320121-24-000092
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Telos Q3 revenue falls to $23.8M, GAAP net loss $28.1M; guides Q4 rev up 3-11% sequentially
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- Revenue $23.8M, down 34% YoY from $36.2M; GAAP net loss $28.1M vs $8.7M loss YoY.
- GAAP gross margin 13.2% (down from 36.0% YoY); cash gross margin 44.0% (up from 41.5%).
- Non-cash impairment of $11.7M on capitalized software and $1.4M restructuring charge hit results.
- Security Solutions (TSA PreCheck) drives sequential growth; enrollment centers at 173, targeting 500 by 2025.
- Q4 guidance: revenue $24.5-26.5M, adjusted EBITDA loss $4.5-3.5M; expects significant revenue growth in 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/320121/000032012124000092/0000320121-24-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/320121/000032012124000092/tls-20241112.htm
  HTML page:      https://secwatch.observer/filing/0000320121-24-000092

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