Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the U.S. government and NATO allies.3 Its shares trade on Nasdaq under the symbol TLS.1Wikipedia text CC BY-SA 4.0
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the U.S. government and NATO allies.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue101112139$164.8M in 2025+4% since 2019Gross profit101112139$61.0M in 2025+17% since 2019Operating income101112139-$39.9M in 2025Net income101112139-$36.5M in 2025+471% since 2019
Revenue1415$47.7M in Q2 FY2026+0% since Q1 FY2026Gross profit1415$16.7M in Q2 FY2026−4% since Q1 FY2026Operating income1415$310.0K in Q2 FY2026−79% since Q1 FY2026Net income1415$660.0K in Q2 FY2026−67% since Q1 FY2026
Total assets16101112139$139.9M in 2025+80% since 2019Total liabilities16101112139$43.9M in 2025−80% since 2019Shareholders’ equity1612139$96.0M in 2025Cash16101112139$53.2M in 2025+688% since 2019
Total assets1415$139.7M in Q2 FY2026−0% since Q1 FY2025Total liabilities1415$46.3M in Q2 FY2026+6% since Q1 FY2025Shareholders’ equity1415$93.4M in Q2 FY2026−3% since Q1 FY2025Cash1415$50.6M in Q2 FY2026−5% since Q1 FY2025
Cash from operations101112139$30.2M in 2025+155% since 2019Capital spending101112139$739.0K in 2025−82% since 2019Free cash flow101112139$29.4M in 2025+281% since 2019Share buybacks101112139$13.6M in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Telos sits at the top of its group. 6 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Telos
BlackRockFiled SCHEDULE 13G on Telos, latest Jul 30, 2026 (6 filings since Feb 3, 2023)
John B. Wood Filed SCHEDULE 13D on Telos, latest Jul 24, 2026
Global X Management CO LLCFiled SCHEDULE 13G/A on Telos, latest Jul 8, 2025 (3 filings since Feb 14, 2025)
VANGUARD GROUP INCFiled SCHEDULE 13G/A on Telos, latest Jan 31, 2025 (4 filings since Feb 10, 2022)
FMR LLCFiled SC 13G/A on Telos, latest Jun 10, 2022 (4 filings since Nov 10, 2021)
Telos Identity Management Solutions, LLC (DBA Telos ID) Subsidiary · Delaware, United States
Teloworks Philippines, Inc. Subsidiary · Philippines
Teloworks, Inc. Subsidiary · Delaware, United States
ubIQiquity.com, inc. Subsidiary · Delaware, United States
Xacta Corporation Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Telos reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We lease approximately 191,700 square feet of space for our corporate headquarters, integration facility, and primary service depot in Ashburn, Virginia. The lease expires in May 2029.
We leased additional office space in facilities located in Maryland, Florida and Nevada under various leases expiring through July 2027.
The rest of Item 2
We believe that the current space is substantially adequate to meet our operating requirements.
Telos was founded in 1969 in Santa Monica, California and incorporated in Maryland in 1971.
In the fall of 1984, Telos released the FileVision program for the Apple Macintosh. InfoWorld magazine gave it an honorable mention in its Product of the Year for database applications.
John B. Wood joined the company in 1992, and became president and chief executive in 1994. Today, Telos is headquartered in Ashburn, Virginia.
The company had revenues of $200 million in 1996.
On 16 June 2020, Telos Corporation reported its Automated Message Handling System (AMHS) service was granted an additional five years and $15.6 million contract by the Defense Information Systems Agency (DISA).
On 20 May 2020, Telos named retired general Keith B. Alexander as its advisory board's inaugural leader.
In November 2020, the company filed for an initial public offering.
Mar 10, 2025Reported quarterly or annual results75
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
358 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 232 insider forms, 19 large holders, 40 other. The latest 20:
80 open-market trades by officers, directors and large owners since October 2021: 42 buys and 38 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
AuditorPricewaterhouseCoopers LLP, Washington, District of Columbia PCAOB ID 238; it also attests to the company’s internal control over financial reporting17
From the cover page of the 10-K filed Mar 16, 2026 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks Telos names in Item 1A of its 10-K filed Mar 16, 2026: 43 risks under these headings, as written.17
Business and Operational Risks
Our business could be negatively affected by cyber or other information security threats, breaches, or other disruptions.
If our customers do not renew their contracts for our solutions and services, or subscriptions, and expand our relationships with them, our revenue could decline and our results of operations would be adversely impacted.
The U.S. federal government may terminate, cancel, delay, modify or curtail our contracts at any time prior to completion and, if we do not replace them, this may adversely affect our future revenues and could adversely impact our earnings.
Federal government spending reductions, workforce changes, and policy shifts may impact our existing operations and future opportunities for new contracts.
We rely on a few key customer contracts for a significant portion of our future revenue. A significant reduction or delay in implementation to one or more of these contracts would materially affect our anticipated operating results.
A failure to attract, train, retain and motivate key and skilled employees, including key members of our management team, would adversely affect our ability to execute our strategy and may disrupt our operations.
Due to the competitive bidding process to obtain U.S. federal government contracts, both upon initial issuance and re-competition, and the likelihood of bid protest, we may be unable to achieve or sustain revenue growth and profitability.
Our competitive position and future profitability depend, in part, on our ability to develop new technologies.
Our financial results may fluctuate due to increasing variability in our security solutions' sales and implementation cycles.
Failure to effectively develop and execute our sales and business development capabilities will harm our ability to grow our business.
We depend on computing infrastructure operated by third parties to support some of our solutions and customers, and to help complete critical business functions. Any errors, disruption, performance problems, or failure in their or our operational infrastructure could adversely affect our business, financial condition, and results of operations.
The other 32 risks
We depend on third parties for certain operational services and components of our products in order to fully perform under our contracts, and the failure or disruption of a third party to perform these services or provide these goods could have an adverse impact on our business.
Failure to adequately protect our intellectual property, technologies and proprietary rights could harm our business, competitive position, financial condition, and results of operations.
Our earnings and profitability may vary based on the mix of our contracts and may be adversely affected by our failure to estimate and manage costs, time, and resources accurately.
We will face risks associated with the growth of our business in new commercial markets and with new customer verticals, and we may not be able to achieve organic growth nor have the necessary resources to dedicate to the overall growth of our business.
Failure to deliver high-quality technical support services may adversely affect our relationships with our customers and our financial results.
Our growth depends, in part, on the success of our strategic relationship with our partner organizations.
We rely on third-party technology that is used in our products and services to perform key functions. If we are unable to license third-party technology or the technology is subject to a security breach, without an alternative, it may negatively impact our business and results of operations.
The inability to set optimal pricing structures for our solutions and services could adversely impact our business, financial condition and results of operations.
Artificial Intelligence ("AI") is an emerging technology and we may not be successful in our AI initiatives.
We may be subject to legal proceedings, regulatory disputes and governmental inquiries that could materially harm our business, operating results, and financial condition.
Potential future acquisitions, strategic investments, partnerships, divestitures, mergers or joint ventures may subject us to significant risks, any of which could harm our business.
Public confidence in, and acceptance of, identity platforms and biometrics generally, and our solutions and services specifically, will be a key factor in our business’s continued growth.
Any decline or disruption in the travel industry or general economic downturn could materially and adversely affect our business, results of operations and financial condition.
Actions that we are taking to restructure our business to improve profitability may not be as effective as anticipated.
Goodwill and intangible assets represent significant assets on our balance sheet and any impairment on these assets could negatively impact our results of operations, and shareholders' equity.
Industry, Legal and Regulatory Risks
The business environment in which we operate is highly competitive, and we may not be able to compete successfully against existing or future competitors.
A decline in the federal budget, changes in spending or budgetary priorities of the U.S. federal government, a prolonged U.S. federal government shutdown or delays in contract awards may significantly and adversely affect our future revenues, cash flow and financial results.
The Administration's actions, such as tariffs and other changes in international trade policies, could adversely and unexpectedly impact our business.
We are subject to the seasonality of U.S. federal government spending.
We are required to comply with stringent, complex and evolving laws, rules, regulations and standards, as well as contractual obligations relating to privacy, data protection and security, technology protection, and other matters. Any actual or perceived failure to comply with these requirements could have a material effect on our business.
We are subject to substantial oversight from federal agencies that have the authority to suspend our ability to bid on contracts.
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.
Risks Related to Our Financial Reporting and Common Stock
We may fail to meet our publicly announced guidance and other expectations about our business and operating results, which may cause our stock price to decline.
Our quarterly operating results fluctuate and may fall short of prior periods, our projections or the expectations of securities analysts or investors, which could adversely affect the trading price of our stock.
Certain of our U.S. federal government contracts involve work of a confidential nature, which may limit investor insight into portions of our business.
We cannot guarantee that our share repurchase program will be fully implemented or that it will enhance long-term stockholder value.
If we fail to maintain an effective system of internal control, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
General Risk Factors
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 be adversely affected.
Global inflationary pressures and weakened global economic and political conditions may adversely affect our industry, business, operating results and financial condition.
Our systems and the third-party systems upon which we and our customers rely are also vulnerable to damage or interruption from catastrophic occurrences or events outside our control.
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.
Global climate-related risks could negatively affect our business.
Legal proceedings
Information regarding legal proceedings may be found in Note 18 – Commitments, Contingencies and Subsequent Events to the Consolidated Financial Statements.
