- Telos Corp (NASDAQ:TLS) reported second-quarter FY22 revenue growth of 4% year-on-year to $55.8 million, missing the consensus of $76 million. Services revenue rose 2.6% Y/Y to $50.3 million.
- The gross margin contracted by 450 bps to 37.5%. Adjusted EPS of $0.04 missed the consensus of $0.11.
- Telos generated $5.4 million in free cash flow in the quarter and held $122.6 million in cash and equivalents.
- Telos formed a strategic partnership with International Business Machines Corp (NYSE:IBM) and initiated a share buyback program.
- Outlook: Telos sees Q3 revenue of $58 million - $62 million, representing (16%) - (10)% change Y/Y.
- Telos cut its FY22 revenue from $226 million - $257 million to $226 million – $242 million, representing (7%) - 0% change Y/Y.
- Price Action: TLS shares traded higher by 0.57% at $8.87 on the last check Tuesday.
Telos Misses On Q2, Notes Margin Pressure
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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