Telos Corporation reports developments in cyber, cloud and enterprise security solutions for government agencies, regulated industries and global enterprises. Its updates commonly cover financial results, investor events, the Xacta® cyber governance, risk and compliance platform, identity and biometric solutions, secure networks and communications, and TSA PreCheck® enrollment services.
Company news also includes authorization and compliance milestones for Xacta modules, expansion of TSA PreCheck enrollment access, and business outlook commentary tied to recurring earnings releases.
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Telos Corporation (NASDAQ: TLS) has announced that Oracle has selected its Xacta platform to enhance security compliance management. This collaboration aims to reduce both time and costs associated with compliance for Oracle's cloud services. Xacta's recent updates include machine-readable data exchange capabilities, facilitating risk management automation. The platform has proven effective in expediting authorizations within the federal government, thus supporting Oracle's accreditation goals across multiple classification levels.
Telos Corporation has appointed Bradley Jacobs and Derrick Dockery to its board of directors, following Bernard Bailey's decision not to stand for re-election after 16 years. Jacobs, with experience in the defense sector and finance, is expected to bring valuable insights. Dockery, a former NFL player, has a strong background in advocacy and government relations. CEO John B. Wood emphasized the strategic benefits of the new appointments during this exciting phase for Telos.
Telos Corporation (NASDAQ: TLS) will host small group meetings at the 24th Annual Needham Growth Conference on January 11, 2022. The company is recognized for providing advanced cyber, cloud, and enterprise security solutions tailored for security-conscious organizations globally. Telos empowers clients through solutions for IT risk management, cloud security, and enterprise security, including identity management and secure mobility. The firm serves various sectors, including commercial enterprises and government clients.
Telos Corporation, a leader in cybersecurity solutions, released a study revealing that 96% of IT security professionals believe their data collection tools need improvement. The research, conducted by Vanson Bourne, surveyed 200 U.S. security professionals in financial services. Key findings include that financial institutions spend an average of 71 working days per quarter on audits, with 95% of respondents expressing dread toward audits. Additionally, 45% of organizations reported stress-related employee sickness.
Telos Corporation has released findings from a study indicating that 86% of security professionals worry about protecting critical IT assets. Conducted by Vanson Bourne, the research surveyed 250 professionals, revealing that 99% believe an attack could have societal repercussions. Notably, 83% reported experiencing a cyber attack in the past two years. Most respondents (93%) feel their current protection tools are inadequate. The study suggests a rising need for better security measures, particularly network obfuscation, to guard against complex cyber threats.
Telos Corporation (NASDAQ: TLS) reported impressive financial results for Q3 2021, with revenues reaching $70.1 million, a growth of 48% year-over-year, and 80% excluding a contract with the U.S. Census Bureau. Gross profit increased 57% to a record $26.1 million, while gross margin expanded 229 basis points to 37%. The company generated $12.5 million in cash flow from operations and projected sales guidance of $240 million - $245 million for the year. Despite the strong performance, net loss attributable to Telos was $(5.4 million).
Telos Corporation (NASDAQ: TLS) will have CEO John B. Wood present at the Needham Virtual Security, Networking and Communications Conference on November 16, 2021, at 12:45 p.m. ET. The event can be accessed via a live audio webcast, and the presentation will be archived for later viewing on Telos’ investor relations website. Telos is a prominent provider of cyber, cloud, and enterprise security solutions, catering to highly security-conscious organizations globally.
Telos Corporation (NASDAQ: TLS) has launched the Telos CyberProtect Partner Program, expanding its cybersecurity solutions portfolio in the U.S. public sector through a new partnership with DLT Solutions. This collaboration will enhance access to cybersecurity offerings across major public sector contracts. DLT Solutions will include Telos' products in their channel ecosystem and federal contract vehicles, addressing the growing demand for cybersecurity solutions amid an evolving threat landscape. The partnership aims to provide scalable security solutions for government agencies nationwide.
Telos Corporation (NASDAQ: TLS) has announced a new $3.1 million contract with the National Geospatial-Intelligence Agency (NGA) to enhance its longstanding partnership. This five-year contract focuses on providing additional support for Xacta, Telos’ premier cyber risk management and automation solution. The collaboration aims to assist NGA in efficiently managing cyber risks and ensuring security compliance, continuing an enterprise license for Xacta that has been in place since 2006. The CEO emphasized the importance of this relationship in supporting national security.