Filing Analysis
Telos Corporation issued an 8-K to announce the release of its financial results for the third quarter ended September 30, 2024. The filing serves as a formal notification of the earnings announcement and associated conference call.
📋 Key Facts
- Company announced Q3 2024 financial results on November 12, 2024.
- Financial results for the quarter ended September 30, 2024 were posted to the company's website.
- A conference call was scheduled for November 12, 2024, at 10:30 a.m. ET to discuss the results.
- Exhibits 99.1 and 99.2 contain the press release and financial results respectively.
Telos Corporation announced that a major GAO protest regarding a federal award worth up to $485 million has been withdrawn, and the associated 'Stop-Work Order' is set to be lifted on September 28, 2024. This resolves a significant portion of previously protested revenue streams for the company's Security Solutions business.
🚩 Red Flags
- One award worth $40 million remains under protest, representing a lingering uncertainty in the revenue pipeline.
📋 Key Facts
- GAO disclosed that the protester on an award worth up to $485 million has withdrawn its protest.
- The government's 'Stop-Work Order' on the $485 million award will be formally lifted effective September 28, 2024.
- One remaining award worth up to $40 million is still under protest.
- Total potential value of previously announced awards subject to protests was up to $525 million.
Telos Corporation issued an 8-K to announce the release of its financial results for the quarter ended June 30, 2024. The filing serves as a formal notification that a press release containing both GAAP and non-GAAP financial measures has been issued.
📋 Key Facts
- Reporting period: Quarter ended June 30, 2024.
- Filing date: August 9, 2024.
- The company included non-GAAP financial measures in the accompanying press release (Exhibit 99.1).
- A conference call was scheduled for August 9, 2024, at 8:30 a.m. ET to discuss results.
Telos Corporation reported the results of its annual meeting of stockholders held on May 21, 2024. The meeting included the election of seven directors and several shareholder proposals.
📋 Key Facts
- Stockholders approved the Amended and Restated 2016 Omnibus Long-Term Incentive Plan, which increases available shares by 8.5 million.
- Seven directors were elected to serve until the 2025 Annual Meeting: John B. Wood, David Borland, John W. Maluda, Bonnie Carroll, Derrick D. Dockery, Brad Jacobs, and Fredrick D. Schaufeld.
- Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2024.
- The 'say-on-pay' advisory resolution regarding executive compensation was approved by a majority vote.
Telos Corporation filed an 8-K to announce the release of its financial results for the quarter ended March 31, 2024. The filing serves as a formal notification that earnings data and non-GAAP reconciliations are being made public via a press release.
📋 Key Facts
- Reporting period: Quarter ended March 31, 2024.
- Filing date: May 10, 2024.
- The company issued a press release containing financial results (Exhibit 99.1).
- Financial results include non-GAAP financial measures with reconciliations to GAAP provided per Regulation G.
Telos Corporation filed an 8-K to announce the release of its financial results for the fourth quarter and full year ended December 31, 2023. The filing includes non-GAAP financial measures and a scheduled conference call to discuss performance.
📋 Key Facts
- Reporting period: Fourth quarter and fiscal year ended December 31, 2023.
- Filing date: March 15, 2024.
- The company issued a press release (Exhibit 99.1) containing financial results.
- Management provided reconciliations for non-GAAP financial measures per Regulation G.