TELOS CORP
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
TLS$7.67+7.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| (in thousands) | ||
| Cash flows from operating activities: | ||
| Net loss | $(34,422) | $(53,428) |
| Adjustments to reconcile net loss to cash flows from operations: | ||
| Stock-based compensation | 24,396 | 64,660 |
| Depreciation and amortization | 9,429 | 5,890 |
| Provision for doubtful accounts | 152 | 99 |
| Deferred income tax provision | 55 | 35 |
| Loss on disposal of fixed assets | 2 | 4 |
| Accretion of discount on acquisition holdback | 2 | 48 |
| Amortization of debt issuance costs | 69 | — |
| Gain on early extinguishment of other financing obligations | (1,427) | — |
| Changes in other operating assets and liabilities: | ||
| Accounts receivable | 9,493 | 19,675 |
| Inventories | 1,457 | (1,630) |
| Intangible assets – software held for resale | — | (7,120) |
| Prepaid expenses, other current assets and other assets | (3,058) | (1,249) |
| Accounts payable and other accrued payables | (8,817) | (12,322) |
| Accrued compensation and benefits | 6,602 | (317) |
| Contract liabilities | 283 | 63 |
| Other current liabilities and other liabilities | (2,629) | 2,100 |
| Net cash provided by operating activities | 1,587 | 16,508 |
| Cash flows from investing activities: | ||
| Capitalized software development costs | (14,552) | (12,708) |
| Purchases of property and equipment | (926) | (1,009) |
| Net cash used in investing activities | (15,478) | (13,717) |
| Cash flows from financing activities: | ||
| Payments under finance lease obligations | (1,592) | (1,461) |
| Repurchase of common stock | (139) | (11,145) |
| Payment of tax withholding related to net share settlement of equity awards | (3,742) | (5,671) |
| Payments for debt issuance costs | (114) | (95) |
| Payments of DFT holdback amount | (564) | — |
| Proceeds from other financing obligations | — | 9,092 |
| Payments of other financing obligations | — | (635) |
| Net cash used in financing activities | (6,151) | (9,915) |
| Net change in cash, cash equivalents, and restricted cash | (20,042) | (7,124) |
| Cash, cash equivalents and restricted cash, beginning of period | 119,438 | 126,562 |
| Cash, cash equivalents and restricted cash, end of period | $99,396 | $119,438 |
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