TELOS CORP
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
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Financial Overview
A number of factors have contributed to our first quarter of fiscal year 2024 results of operations, the most significant of which are described below. More details on these changes are presented below within our "Results of Operations" section.
Decline in year-over-year revenue primarily driven by the ramp down of programs within Secure Networks.
Growth in TSA PreCheck revenue.
Reduction in gross margins driven by the increased impact of amortization of software development costs.
Lower operating costs through a combination of lower stock-based compensation and restructuring expenses.
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