From GlobeNewswire:

Telos’ prime partners have been awarded new programs worth up to $525 million over five years, pending favorable resolution of protests. The company reported revenue, profit, and cash flow for the fourth quarter and full year 2023 above expectations. They delivered $41.1 million in fourth quarter revenue and $145.4 million for the full year. Additionally, they generated $5.0 million in cash flow from operations in the fourth quarter and $1.6 million for the full year, with $1.8 million of positive free cash flow in the fourth quarter. Telos is optimistic about future revenue growth and expansion opportunities.

The company highlighted several key achievements in the fourth quarter of 2023, including renewed contracts with key government agencies and commercial customers. Telos also completed the delivery of a global satellite communications solution for the U.S. Air Force and achieved Capability Maturity Model Integration (CMMI) Development Maturity Level 3 re-certification. These accomplishments demonstrate Telos’ commitment to innovation and excellence in providing security solutions.

Telos provided a financial outlook for the first quarter of 2024, forecasting revenue between $28 million and $29 million, with a year-over-year growth rate of -21% to -18%. The company expects an Adjusted EBITDA between -$5.5 million and -$5.0 million for the same period. Telos will host a live webcast to discuss its financial results, offering investors and stakeholders an opportunity to learn more about the company’s performance and future prospects.

Telos emphasized the importance of non-GAAP financial measures like EBITDA, Adjusted EBITDA, Adjusted Net Income, and Free Cash Flow in evaluating the company’s operational performance and financial health. These metrics provide insights into Telos’ core operating performance and trends, helping investors and stakeholders assess the company’s long-term growth potential. Telos remains committed to transparency and accountability in its financial reporting practices, maintaining a focus on sustainable growth and value creation.



Read more at GlobeNewswire:: Telos Corporation Announces Substantial Progress on New