Telos Corp Stock Price, News & Analysis

Telos Corporation (NASDAQ: TLS) has announced it will report its first quarter 2021 financial results on May 17, 2021, after market close. A conference call and webcast will be held at 4:30 p.m. ET to discuss the financial results and business outlook. Telos provides cybersecurity, cloud, and enterprise security solutions to federal agencies and commercial organizations worldwide. The call will be accessible via toll-free numbers for US/Canada, along with an international line. An on-demand replay will be available on Telos’ Investor Relations website.

Telos Corporation (NASDAQ: TLS) has secured a contract with the City of Charlotte to provide Transportation Security Administration (TSA)-approved Designated Aviation Channeling (DAC) services at Charlotte Douglas International Airport. This advanced service enhances credentialing operations by improving data integrity and reducing costs. The integration with the airport's Identity Management System allows efficient background checks for aviation workers, ensuring high security and customer service standards. With over 90 airports using Telos DAC services, the company continues to establish itself as a leader in aviation security.

Telos Corporation (NASDAQ: TLS) announced its Xacta solution will support all Microsoft Azure U.S. Government cloud instances, including Government, Secret, and Top Secret. Xacta automates compliance tasks related to security frameworks like NIST and ISO 27001, streamlining risk management. This integration allows customers to generate accreditation packages automatically and track compliance status, reducing the effort required for authorizations. The partnership with Microsoft aims to enhance efficiency in migrating workloads to Azure.

Telos Corporation (NASDAQ: TLS) announced the closing of its follow-on offering, successfully selling 9,090,909 shares of common stock at $33.00 per share. This offering included 7,040,909 shares from existing stockholders and generated gross proceeds of $64,605,750 after the underwriters' option was exercised. The offering was conducted under a 'shelf' registration statement filed with the SEC on March 31, 2021. The company did not receive proceeds from the shares sold by existing stockholders. B. Riley Securities, BMO Capital Markets, and Needham & Company were joint bookrunners for the offering.

Telos Corporation (Nasdaq: TLS) has priced its follow-on offering of 7,905,139 shares of common stock at $33.00 per share. This includes a secondary public offering of 6,662,073 shares from existing stockholders, with Telos not receiving proceeds from these sales. The offering is set to close on April 6, 2021. B. Riley Securities, BMO Capital Markets, and Needham & Company are the joint bookrunners. Telos has granted a 30-day option for underwriters to purchase an additional 1,185,770 shares, including shares from selling stockholders.

Telos Corporation (NASDAQ: TLS) announced a proposed follow-on public offering, including a secondary public offering by existing stockholders. The company will not receive proceeds from the stock sold by these sellers. B. Riley Securities, BMO Capital Markets, and Needham & Company are the joint bookrunners, with additional firms managing the offering. The shares are being offered under a shelf registration statement filed with the SEC. A 30-day option is granted to underwriters to purchase up to 15% more shares to cover over-allotments, if needed.

Telos Corporation (NASDAQ: TLS) reported a 13% revenue increase for FY 2020, totaling $179.9 million. Key contracts include a 10-year $1.5 billion TSA PreCheck agreement and a $2 billion CMS contract. Financial highlights showed net income of $1.7 million, up from a loss of $6.4 million in 2019. Gross profit rose 19% to $62.4 million. The company raised $292.6 million in its IPO, strengthening its balance sheet. For Q1 and FY 2021, Telos expects revenues between $49 million-$52 million and $283 million-$295 million, respectively, indicating strong growth potential.

Telos Corporation (NASDAQ: TLS) announced the appointment of Troy M. Bertram as Vice President to lead global enterprise sales teams. With over 25 years of experience in business development and sales, Bertram previously served as Chief Revenue Officer at Saildrone and held significant roles at Amazon Web Services and Dell Technologies. CEO John B. Wood emphasized Bertram's potential to enhance the company's momentum in commercial and regulated sectors. Telos specializes in cybersecurity solutions for government and commercial organizations, focusing on continuous security assurance.