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TLS Telos

Telos Corporation empowers and protects the world’s most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos’ offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions for identity and access management, secure mobility, organizational messaging, and network management and defense. The company serves military, intelligence and civilian agencies of the federal government, allied nations and commercial organizations around the world.

Company profile

TLS stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

17 May 21
29 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Telos earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 93.76M 93.76M 93.76M 93.76M 93.76M 93.76M
Cash burn (monthly) 4.09M (positive/no burn) 4.91M 1.24M 3.11M 1.1M
Cash used (since last report) 16.21M n/a 19.46M 4.9M 12.3M 4.34M
Cash remaining 77.55M n/a 74.3M 88.86M 81.46M 89.42M
Runway (months of cash) 18.9 n/a 15.1 71.8 26.2 81.5

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Jul 21 Edward L Williams Common Stock Sell Dispose S Yes Yes 28.19 40,000 1.13M 637,000
20 Jul 21 Edward L Williams Common Stock Sell Dispose S Yes Yes 28.49 28,218 803.93K 677,000
20 Jul 21 Edward L Williams Common Stock Sell Dispose S Yes Yes 28.03 31,782 890.85K 705,218
20 Jul 21 Jefferson V. Wright Common Stock Sell Dispose S Yes Yes 28.51 2,837 80.88K 132,000
20 Jul 21 Jefferson V. Wright Common Stock Sell Dispose S Yes Yes 28.07 8,163 229.14K 134,837
20 Jul 21 Jefferson V. Wright Common Stock Sell Dispose S No Yes 28.52 3,408 97.2K 183,760
20 Jul 21 Jefferson V. Wright Common Stock Sell Dispose S No Yes 28.07 10,592 297.32K 187,168
19 Jul 21 Gary Mark Bendza Common Stock Grant Aquire A No No 0 20,500 0 85,500
19 Jul 21 Gary Mark Bendza Common Stock Grant Aquire A No No 0 65,000 0 65,000
19 Jul 21 Gary Mark Bendza Performance-Based RSUs Common Stock Grant Aquire A No No 0 20,500 0 20,500

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

53.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 115 109 +5.5%
Opened positions 43 108 -60.2%
Closed positions 37 0 NEW
Increased positions 32 0 NEW
Reduced positions 32 1 +3100.0%
13F shares
Current Prev Q Change
Total value 1.27B 1.25B +1.1%
Total shares 35.42M 30.59M +15.8%
Total puts 9.6K 0 NEW
Total calls 73.3K 0 NEW
Total put/call ratio 0.1
Largest owners
Shares Value Change
Corp/Panama Toxford 12.16M $401.2M 0.0%
FMR 3.23M $122.66M +64.3%
Hood River Capital Management 2.51M $95.27M +39.3%
Victory Capital Management 1.3M $49.33M +0.1%
Vanguard 1.23M $46.78M +2075.7%
BLK Blackrock 1.09M $41.27M +276.6%
Anomaly Capital Management 1.06M $40.27M NEW
Wellington Management 890.45K $33.77M NEW
Pinnacle Associates 812.29K $30.8M +118.2%
Ophir Asset Management Pty 688.23K $24.43M -26.7%
Largest transactions
Shares Bought/sold Change
FMR 3.23M +1.27M +64.3%
Vanguard 1.23M +1.18M +2075.7%
Anomaly Capital Management 1.06M +1.06M NEW
Wellington Management 890.45K +890.45K NEW
BLK Blackrock 1.09M +799.29K +276.6%
Hood River Capital Management 2.51M +708.69K +39.3%
Nellore Capital Management 473.92K +473.92K NEW
Pinnacle Associates 812.29K +440.1K +118.2%
Shelter Haven Capital Management 0 -372.05K EXIT
Wynnefield Capital 10K -323.34K -97.0%

Financial report summary

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Risks
  • We are subject to the seasonality of the U.S. government spending.
  • Our pricing structures for our solutions and services may change from time to time.
  • We depend on computing infrastructure operated by Amazon Web Services (“AWS”), Microsoft, and other third parties to support some of our solutions and customers, and any errors, disruption, performance problems, or failure in their or our operational infrastructure could adversely affect our business, financial condition, and results of operations.
  • We will face risks associated with the growth of our business in new commercial markets and with new customer verticals, and we may neither be able to continue our organic growth nor have the necessary resources to dedicate to the overall growth of our business.
  • In the future, we may seek to enter into other credit facilities to help fund our working capital needs. These credit facilities may expose us to additional risks associated with leverage and may inhibit our operating flexibility.
  • Our business is subject to complex and evolving U.S. and non-U.S. laws and regulations regarding privacy, data protection and security, technology protection, and other matters. Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our business practices, monetary penalties, increased cost of operations, or otherwise harm our business.
  • Changes in accounting principles or their application to us could result in unfavorable accounting charges or effects, which could adversely affect our results of operations and growth prospects.
  • If our judgments or estimates relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our results of operations could fall below expectations of securities analysts and investors, resulting in a decline in our stock price.
  • A novel strain of coronavirus, COVID-19, as well as variants of this strain, may adversely affect our future business operations, financial condition and our ability to execute on business or contract opportunities.
  • Our facilities or operations could be adversely affected by events outside of our control, such as natural disasters, wars or health epidemics.
  • Our U.S. Government contracts are subject to competitive bidding, both upon initial issuance and re-competition. If we are unable to successfully compete in the bidding process or if we fail to win re-competitions, it could adversely affect our operating performance and lead to an unexpected loss of revenue.
  • We enter into fixed-price and other contracts that could subject us to losses if we experience cost growth that cannot be billed to customers.
  • We depend on third parties in order to fully perform under our contracts and the failure of a third party to perform could have an adverse impact on our earnings.
  • The business environment in which we operate is highly competitive and may impair our ability to achieve revenue growth.
  • Our business could be negatively affected by cyber or other security threats or other disruptions.
  • If we are unable to protect our intellectual property, our revenues may be impacted adversely by the unauthorized use of our products and services.
  • If we are unable to license third-party technology that is used in our products and services to perform key functions, the loss could have an adverse effect on our revenues.
  • We are involved in a number of legal proceedings. We cannot predict the outcome of litigation and other contingencies with certainty.
  • Any potential future acquisitions, strategic investments, divestitures, mergers or joint ventures may subject us to significant risks, any of which could harm our business.
  • Weakened global economic conditions may adversely affect our industry, business, operating results and financial condition.
  • Any failure in our delivery of high-quality technical support services may adversely affect our relationships with our customers and our financial results.
  • We may lose key members of our management team, development and operations personnel, or subject matter experts, and may be unable to attract and retain employees we need to support our operations and growth.
  • If our customers do not renew their subscriptions or contracts for our solutions and services, our revenue could decline and our business may suffer.
  • If our security measures or those of our third-party data center hosting facilities, cloud computing platform providers or third-party service partners, or the underlying infrastructure of the internet are breached, and unauthorized access is obtained to a customer’s data, our data or our IT systems, or authorized access is blocked or disabled, our services may be perceived as not being secure, customers may curtail or stop using our services, and we may incur significant reputational harm, legal exposure and liabilities, or a negative financial impact.
  • Our ability to deliver our services is dependent on the development and maintenance of the infrastructure of the Internet by third parties.
  • Sales to customers outside the United States expose us to risks inherent in international operations.
  • We are subject to governmental export and import controls that could impair our ability to compete in international markets and subject us to liability if we are not in full compliance with applicable laws.
Management Discussion
  • We derive a substantial portion of our revenues from contracts and subcontracts with the U.S. Government. Our revenues are generated from a number of contract vehicles and task orders. Over the past several years we have sought to diversify and improve our operating margins through an evolution of our business from an emphasis on product reselling to that of an advanced solutions technologies provider. To that end, although we continue to offer resold products through our contract vehicles, we have focused on selling solutions and outsourcing product sales, as well as designing and delivering Telos manufactured and branded technologies.  We believe our contract portfolio is characterized as having low to moderate financial risk due to the limited number of long-term fixed price development contracts. Our firm fixed-price activities consist principally of contracts for the products and services at established contract prices. Our time-and-material contracts generally allow the pass-through of allowable costs plus a profit margin.  For 2020, 2019, and 2018, the Company’s revenue derived from firm fixed-price contracts was 84.3%, 82.7%, and 74.9%, respectively, cost-plus contracts was 8.2%, 8.2%, and 12.9%, respectively, and time-and-material contracts was 7.5%, 9.1%, and 12.2%, respectively.
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