Telos Q1: Revenue up 56% to $47.7M, net income $2.0M, Adj EBITDA $7.9M; reaffirms FY outlook

Telos Corporation Reports 56% Revenue Growth and Continued Strong Profitability and Cash Flow Margins; Reaffirms Full Year Outlook • Substantial Growth : Revenue grew 56% year-over-year to $47.7 million, exceeding guidance, and driven by 78% growth in Security Solutions primarily due to the expansion of large programs in Telos ID. • Healthy Gross Margins : GAAP Gross Margin and Cash Gross Margin 1 both exceeded guidance assumptions primarily due to performance in Telos ID. GAAP Gross Margin was 36.4% and Cash Gross Margin 1 was 42.3%. • Rigorous Expense Discipline : GAAP Operating Expenses decreased 25% year-over-year primarily due to lower stock-based compensation expense. Adjusted Operating Expenses 1 decreased 8% primarily due to restructuring and cost management initiatives. • Expanding Operating Margins : GAAP Net Income was $2.0 million.