Telos TLS

Software - Infrastructure, Technology

$4.87

+6.56%

Market cap: $364M
PE: n/m; a loss over the last year
Forward PE: n/m; not a meaningful number
Price to sales: 1.9×
EV/EBIT: n/m; a loss over the last year
Revenue, 12 months: $193.7M; +66% on a year ago
Net margin: −8.1%
Free cash flow yield: 9.3%

Telos trades at 1.9× sales. Its trailing earnings are negative, so it has no PE. Revenue was $193.7M over the last twelve months, up 66% on a year earlier with a −8% net margin.

Charts

Financials

Income statement for TLS, by quarter
Income statement	Q3 FY23	Q4 FY23	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
	$36.2M−43%	$41.1M−13%	$29.6M−16%	$28.5M−13%	$23.8M−34%	$26.4M−36%	$30.6M+3%	$36M+26%	$51.4M+116%	$46.8M+77%	$47.7M+56%	$47.7M+33%
Cost of revenue	$23.2M−46%	$27M−7%	$18.7M−14%	$18.8M−9%	$20.6M−11%	$15.8M−42%	$18.4M−1%	$24M+28%	$30.9M+50%	$30.4M+93%	$30.4M+65%	$31.1M+29%
Gross profit	$13M−38%	$14.1M−23%	$11M−19%	$9.7M−22%	$3.1M−76%	$10.6M−25%	$12.2M+11%	$11.9M+23%	$20.5M+554%	$16.4M+54%	$17.4M+43%	$16.7M+40%
R&D	$2.8M−30%	$3.5M+15%	$3.2M+12%	$1.5M−45%	$2.4M−14%	$1.4M−60%	$1.6M−50%	$1.5M+4%	$1.9M−21%	$2.1M+48%	$1.4M−14%	$1.3M−11%
SG&A	$19.6M−34%	$18.7M−43%	$16.2M−31%	$16.9M−12%	$23.2M+19%	$19.1M+3%	$19.6M+21%	$20.3M+20%	$21.1M−9%	$17.9M−7%	$14.6M−26%	$15M−26%
	−$9.7M+10%	−$8.2M−44%	−$8.4M−35%	−$8.6M−9%	−$28.9M+198%	−$9.9M+21%	−$9M+7%	−$9.9M+14%	−$2.5M−91%	−$18.5M+86%	$1.5M	$310K
Interest expense	$178K−2%	$175K−45%	$175K−30%	$160K−13%	$157K−12%	$152K−13%	$147K−16%	$141K−12%	$136K−13%	$129K−15%	$111K−25%	$107K−24%
Pre-tax income	−$8.6M+2%	−$7M−51%	−$7.4M−31%	−$7.7M−3%	−$28M+224%	−$9.4M+33%	−$8.6M+17%	−$9.5M+22%	−$2.1M−93%	−$17M+82%	$2M	$704K
	$23K+188%	−$32K−60%	$17K−26%	$17K−23%	$17K−26%	−$25K−22%	−$4K	$46K+171%	$21K+24%	−$726K+2804%	$18K	$44K−4%
Net income	−$8.7M+3%	−$7M−51%	−$7.4M−31%	−$7.8M−3%	−$28.1M+224%	−$9.3M+34%	−$8.6M+17%	−$9.5M+23%	−$2.1M−93%	−$16.3M+75%	$2M	$660K
	−$0.12−8%	−$0.10−52%	−$0.10−38%	−$0.11−8%	−$0.39+225%	−$0.13+30%	−$0.12+20%	−$0.13+18%	−$0.03−92%	−$0.22+69%	$0.03	$0.01
	69.6M+3%	69.8M+4%	70.6M+4%	72M+4%	72.3M+4%	72.4M+4%	72.7M+3%	73.2M+2%	72.6M+0%	73.1M+1%	77.6M+7%	77.5M+6%

Gross profit: 45 periods, Q2 FY10 to Q1 FY22: not printed by the filing, worked out from its own lines.

EPS, diluted: 5 periods, Q4 FY19 to Q4 FY25: quarter's net income to common over its shares, to the cent.

Diluted shares: 6 periods, Q4 FY19 to Q4 FY25: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Software - Infrastructure nearest Telos' size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
TLSTelos	$364M	n/m	n/a	1.9×	+66%	−8.1%
MKTWMarketwise	$297M	21.6×	7.4×	0.9×	−11%	0.7%
IIIVi3 Verticals	$457.2M	54.3×	200×	2.1×	−0%	3.9%
RBBNRibbon Communications	$250.4M	17.5×	18.7×	0.3×	−8%	2.0%
MKLYMcKinley Acquisition	$250M	30.2×	35.0×	n/m	n/m	n/m
CCSIConsensus Cloud Solutions	$686.6M	7.6×	6.0×	1.9×	+1%	26.7%
GDYNGrid Dynamics	$701.7M	433×	111×	1.7×	+9%	0.7%
OSPNOneSpan	$744M	11.4×	50.0×	3.0×	+2%	27.8%
EGANEGAIN	$148.7M	17.8×	51.1×	1.6×	+3%	9.7%
RPDRapid7	$1B	48.1×	51.5×	1.2×	+0%	2.4%
RDVTRed Violet	$1.3B	71.5×	71.6×	13.1×	+20%	16.5%
Peer median	$571.9M	25.9×	50.6×	1.7×	+1%	3.9%