Telos Corp Stock Price, News & Analysis

Telos Corporation (NASDAQ: TLS) reported Q2 2021 revenues of $52.6 million, reflecting an 8% increase and a 48% increase when excluding a contract with the U.S. Census Bureau. Gross profit rose 17% to $20.6 million, expanding gross margin by 290 basis points to 39.1%. The company generated $3.5 million in cash flow from operations and reaffirmed its sales guidance for 2021 between $283 million and $295 million. Telos has made significant strides with new contracts and partnerships, highlighting strong demand for its security solutions.

Telos Corporation has launched Xacta 360 1.7, enhancing its cyber risk management platform with new capabilities for machine-readable data exchange, including support for OSCAL standards. This update introduces Essential Data Exchange (EDE), streamlining compliance management and enabling efficient data sharing for assessments and audits. The OSCAL feature allows faster submission of FedRAMP security plans, potentially accelerating approval and revenue generation for federal cloud applications. The platform is tailored for highly regulated organizations, replacing outdated methods with modern, data-centric approaches.

Telos Corporation (NASDAQ: TLS) has acquired Diamond Fortress Technologies assets, including touchless fingerprinting software ONYX, to enhance its IDTrust360 platform. This acquisition adds valuable biometric patents, enabling Telos to better serve sectors like transportation, healthcare, and financial services. The contactless biometrics market is projected to grow from $7 billion in 2019 at a CAGR of 20% until 2027. Telos aims to streamline biometric data collection, improving customer service with the expanded technology.

Telos Corporation (NASDAQ: TLS) will release its second quarter 2021 financial results on August 16, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results and business outlook. Telos specializes in cybersecurity, cloud security, and enterprise security solutions, catering primarily to government agencies and commercial organizations worldwide. Investors can access the call through a dedicated phone line and also view a replay on the Investor Relations website.

Telos Corporation (NASDAQ: TLS) appointed Mark Bendza as its new CFO effective July 19, 2021. Bendza has over 20 years of finance experience, previously holding a vice president role at Honeywell with a focus on investor relations. He succeeds Michele Nakazawa, who served as CFO for over 17 years and will transition to assist with continuity. CEO John B. Wood highlighted Bendza's skills as vital for Telos's growth trajectory and shareholder engagement, especially following their recent IPO.

Telos Corporation announced the launch of Xacta.io 1.6.1, enhancing its cyber risk management platform with a new controls crosswalk feature. This feature automates control mapping to streamline IT regulatory compliance, crucial for organizations managing multiple regulations. The update supports significant frameworks like NIST SP 800-53 and FedRAMP, aimed at reducing audit fatigue and improving efficiency. With organizations facing an average of 13 compliance regulations, this release positions Telos to capitalize on growing demand for automated compliance solutions.

Telos Corporation (NASDAQ: TLS) has been approved as a Registered Provider Organization (RPO) by the Cybersecurity Maturity Model Certification Accreditation Body (CMMC-AB). This approval allows Telos to offer consulting services to over 300,000 organizations seeking CMMC compliance, vital for Department of Defense contract eligibility. Telos aims to leverage its extensive experience in federal security to assist organizations in achieving necessary CMMC levels, conducting self-assessments, and developing compliance strategies.

Telos Corporation (NASDAQ: TLS) announced that its CEO, John B. Wood, and CFO, Michele Nakazawa, will present at the Northland Capital Markets SMB and Travel Conference on June 23, 2021, at 10:30 a.m. ET. The event will be held virtually, with a live audio webcast available. Following the presentation, a recording will be accessible on Telos’ investor relations website. Telos is recognized for its cybersecurity solutions, catering to federal agencies and commercial organizations worldwide.