TELOS CORP
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 2024
TLS$7.17+48.8%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
| For the Three Months Ended | For the Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |
| (in thousands, except per share amounts) | ||||
| Revenue – services | $22,197 | $34,385 | $78,017 | $94,866 |
| Revenue – products | 1,586 | 1,801 | 3,883 | 9,453 |
| Total revenue | 23,783 | 36,186 | 81,900 | 104,319 |
| Cost of sales – services (excluding impairment loss, depreciation and amortization) | 12,689 | 20,683 | 45,681 | 58,613 |
| Cost of sales – products (excluding impairment loss, depreciation and amortization) | 1,128 | 545 | 2,268 | 4,561 |
| Impairment loss on intangible assets | 5,333 | — | 5,333 | — |
| Depreciation and amortization | 1,490 | 1,945 | 4,807 | 2,291 |
| Total cost of sales | 20,640 | 23,173 | 58,089 | 65,465 |
| Gross profit | 3,143 | 13,013 | 23,811 | 38,854 |
| Operating expenses: | ||||
| Research and development expenses | 2,409 | 2,805 | 7,038 | 8,284 |
| Selling, general and administrative expenses | 23,225 | 19,552 | 56,346 | 62,351 |
| Impairment loss on intangible assets | 6,373 | 349 | 6,373 | 349 |
| Total operating expenses | 32,007 | 22,706 | 69,757 | 70,984 |
| Operating loss | (28,864) | (9,693) | (45,946) | (32,130) |
| Other income | 983 | 1,222 | 3,299 | 5,367 |
| Interest expense | (157) | (178) | (492) | (611) |
| Loss before income taxes | (28,038) | (8,649) | (43,139) | (27,374) |
| Provision for income taxes | (17) | (23) | (51) | (68) |
| Net loss | $(28,055) | $(8,672) | $(43,190) | $(27,442) |
| Net loss per share: | ||||
| Basic | $(0.39) | $(0.12) | $(0.60) | $(0.40) |
| Diluted | $(0.39) | $(0.12) | $(0.60) | $(0.40) |
| Weighted-average shares outstanding: | ||||
| Basic | 72,309 | 69,571 | 71,654 | 69,062 |
| Diluted | 72,309 | 69,571 | 71,654 | 69,062 |
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