TELOS CORP
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
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Financial Highlights
A number of factors have affected our fiscal year 2023 results, the most significant of which we have listed below. More details on these changes are presented below within our "Results of Operations" section.
The successful completion of certain programs, lower revenue on ongoing major programs and the loss of a program resulted in a decline in fiscal year 2023 compared with 2022 results, partially offset by some new program wins across the portfolio and the ramp of TSA PreCheck.
TSA announced Telos Corporation as TSA's second official TSA PreCheck enrollment and renewal provider in August 2023.
Operating costs were lower, in part, as a result of the restructuring plan announced in the first quarter of 2023.
Lower operating costs resulted in an improvement in profitability and earnings per share.
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