TLS · Telos Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $47.74M | - | $51.44M | $35.97M | $30.62M | - | $23.78M | $28.50M | $29.62M | - |
| Cost of Revenue | $30.37M | - | $30.90M | $24.04M | $18.43M | - | $20.64M | $18.79M | $18.66M | - |
| Gross Profit | $17.38M | - | $20.55M | $11.93M | $12.18M | - | $3.14M | $9.71M | $10.96M | - |
| R&D | $1.36M | - | $1.90M | $1.51M | $1.57M | - | $2.41M | $1.46M | $3.17M | - |
| SG&A | $14.56M | - | $21.11M | $20.30M | $19.63M | - | $23.23M | $16.89M | $16.23M | - |
| Total Operating Expenses | $15.92M | - | $23.01M | $18.35M | $19.40M | - | $32.01M | - | - | - |
| D&A | $3.43M | - | - | - | $2.34M | - | - | - | $3.13M | - |
| Operating Income | $1.46M | - | ($2.47M) | ($9.88M) | ($9.02M) | - | ($28.86M) | ($8.64M) | ($8.44M) | - |
| Interest Expense | $111.0K | - | $136.0K | $141.0K | $175.0K | - | $157.0K | $160.0K | $175.0K | - |
| Income Tax | $18.0K | - | $21.0K | $46.0K | ($4.0K) | - | $17.0K | $17.0K | $17.0K | - |
| Net Income | $2.02M | - | ($2.11M) | ($9.52M) | ($8.60M) | - | ($28.05M) | ($7.76M) | ($7.38M) | - |
| EPS - Basic | $0.03 | - | ($0.03) | ($0.13) | ($0.12) | - | ($0.39) | ($0.11) | ($0.10) | - |
| EPS - Diluted | $0.03 | - | ($0.03) | ($0.13) | ($0.12) | - | ($0.39) | ($0.11) | ($0.10) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $50.23M | $53.18M | $59.05M | $57.00M | $57.79M | $54.58M | $69.76M | $80.10M | $93.92M | $99.26M |
| Accounts Receivable | $16.43M | $17.00M | $20.42M | $19.11M | $18.75M | $19.17M | $14.88M | $17.18M | $18.68M | $30.42M |
| Inventory | $2.89M | $996.0K | $3.38M | $4.18M | $1.49M | $1.78M | $1.41M | $1.37M | $1.47M | $1.42M |
| Accounts Payable | $2.58M | $4.09M | $2.78M | $12.27M | $1.04M | $1.15M | $2.80M | $2.44M | $2.21M | $8.31M |
| Current Assets | $95.63M | $94.41M | $102.83M | $102.78M | $94.14M | $91.42M | $99.32M | $110.19M | $123.12M | $139.99M |
| Total Assets | $139.90M | $139.86M | $164.28M | $165.04M | $158.06M | $158.24M | $166.33M | $182.38M | $195.35M | $208.70M |
| Current Liabilities | $36.98M | $36.78M | $37.27M | $38.73M | $23.53M | $22.14M | $27.29M | $23.16M | $30.38M | $39.20M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $43.36M | $43.91M | $44.61M | $46.63M | $31.95M | $31.10M | $36.85M | $33.23M | $40.96M | $49.70M |
| Stockholders' Equity | $96.53M | $95.95M | $119.67M | $118.41M | $126.11M | $127.14M | $129.48M | $149.15M | $154.40M | $159.00M |
| Retained Earnings | ($361.87M) | ($363.89M) | ($347.58M) | ($345.47M) | ($335.95M) | ($327.35M) | ($318.02M) | ($289.96M) | ($282.20M) | ($274.83M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.66M | - | - | - | $6.11M | - | - | - | ($350.0K) | - |
| Investing Cash Flow | ($2.28M) | - | - | - | ($2.34M) | - | - | - | ($4.15M) | - |
| Financing Cash Flow | ($9.33M) | - | - | - | ($556.0K) | - | - | - | ($846.0K) | - |
| CapEx | $145.0K | - | - | - | $123.0K | - | - | - | $97.0K | - |
| Free Cash Flow | $8.51M | - | - | - | $5.98M | - | - | - | ($447.0K) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 36.4% | - | 39.9% | 33.2% | 39.8% | - | 13.2% | 34.1% | 37.0% | - |
| Operating margin | 3.0% | - | -4.8% | -27.5% | -29.5% | - | -121.4% | -30.3% | -28.5% | - |
| EBITDA margin | 10.2% | - | - | - | -21.8% | - | - | - | -17.9% | - |
| Net margin | 4.2% | - | -4.1% | -26.5% | -28.1% | - | -118.0% | -27.2% | -24.9% | - |
| Free cash flow margin | 17.8% | - | - | - | 19.5% | - | - | - | -1.5% | - |
| FCF / Net income | 4.21 | - | - | - | -0.70 | - | - | - | 0.06 | - |
| R&D / Revenue | 2.8% | - | 3.7% | 4.2% | 5.1% | - | 10.1% | 5.1% | 10.7% | - |
| SG&A / Revenue | 30.5% | - | 41.0% | 56.4% | 64.1% | - | 97.7% | 59.3% | 54.8% | - |
| Effective tax rate | 0.9% | - | - | - | - | - | - | - | - | - |
| Return on assets | 1.4% | - | -1.3% | -5.8% | -5.4% | - | -16.9% | -4.3% | -3.8% | - |
| Return on equity | 2.1% | - | -1.8% | -8.0% | -6.8% | - | -21.7% | -5.2% | -4.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.59 | 2.57 | 2.76 | 2.65 | 4.00 | 4.13 | 3.64 | 4.76 | 4.05 | 3.57 |
| Quick ratio | 2.51 | 2.54 | 2.67 | 2.55 | 3.94 | 4.05 | 3.59 | 4.70 | 4.00 | 3.54 |
| Cash ratio | 1.36 | 1.45 | 1.58 | 1.47 | 2.46 | 2.47 | 2.56 | 3.46 | 3.09 | 2.53 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 13.1x | - | -18.1x | -70.1x | -51.6x | - | -183.8x | -54.0x | -48.2x | - |
| Equity multiplier | 1.45 | 1.46 | 1.37 | 1.39 | 1.25 | 1.24 | 1.28 | 1.22 | 1.27 | 1.31 |
| Liabilities / Assets | 0.31 | 0.31 | 0.27 | 0.28 | 0.20 | 0.20 | 0.22 | 0.18 | 0.21 | 0.24 |
| Efficiency | ||||||||||
| Asset turnover | 0.34 | - | 0.31 | 0.22 | 0.19 | - | 0.14 | 0.16 | 0.15 | - |
| Inventory turnover | 10.51 | - | 9.15 | 5.76 | 12.38 | - | 14.68 | 13.73 | 12.74 | - |
| Days sales outstanding | 126d | - | 145d | 194d | 224d | - | 228d | 220d | 230d | - |
| Days inventory outstanding | 35d | - | 40d | 63d | 29d | - | 25d | 27d | 29d | - |
| Days payable outstanding | 31d | - | 33d | 186d | 21d | - | 49d | 47d | 43d | - |
| Cash conversion cycle | 129d | - | 152d | 71d | 232d | - | 204d | 199d | 216d | - |
| Valuation | ||||||||||
| P / E | 139.7x | - | - | - | - | - | - | - | - | - |
| P / B | 3.4x | - | 4.1x | 2.0x | 1.4x | - | 2.0x | 1.9x | 1.9x | - |
| P / S | 6.8x | - | 9.7x | 6.4x | 5.7x | - | 10.9x | 10.2x | 9.9x | - |
| EV / EBITDA | 56.3x | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 55.9% | - | 116.3% | 26.2% | 3.4% | - | -34.3% | -13.4% | -15.9% | - |
| Revenue CAGR (3y) | 10.7% | - | -6.8% | -13.6% | -15.2% | - | -30.2% | -18.5% | -19.0% | - |
| Revenue CAGR (5y) | -3.1% | - | 1.6% | -5.8% | -4.7% | - | -12.2% | -4.6% | -1.0% | - |
| Gross profit growth (YoY) | 42.6% | - | 553.7% | 22.9% | 11.1% | - | -75.8% | -21.5% | -18.7% | - |
| Operating income growth (YoY) | - | - | 91.4% | -14.3% | -6.9% | - | -197.8% | 8.7% | 34.9% | - |
| Net income growth (YoY) | - | - | 92.5% | -22.7% | -16.6% | - | -223.5% | 3.3% | 31.3% | - |
| EPS growth (YoY) | - | - | 92.3% | -18.2% | -20.0% | - | -225.0% | 8.3% | 37.5% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 42.3% | - | - | - | - | - | - | - | -38.4% | - |
| FCF CAGR (5y) | - | - | - | - | 31.3% | - | - | - | - | - |
| Book value growth (YoY) | -23.5% | -24.5% | -7.6% | -20.6% | -18.3% | -20.0% | -21.1% | -11.0% | -10.4% | -7.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$150.04M totalSecurity Solutions Segment$134.84M · 89.9%
Secure Networks Segment$15.20M · 10.1%
Product / service
$164.81M totalService$136.54M · 82.9%
Product$28.26M · 17.1%
Peer comparison
Same SIC group: Services-Computer Integrated Systems Design
Comparing TELOS CORP against the 5 most active filers in the same SIC group.