TELOS CORP
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
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FY2024 · Filed Mar 10, 2025
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9. Other Balance Sheet Components
- OTHER BALANCE SHEET COMPONENTS
| Table 9.1: Details of Other Assets | ||
|---|---|---|
| As of December 31, | ||
| 2024 | 2023 | |
| (in thousands) | ||
| Prepaid expenses – long-term portion | $4,975 | $593 |
| Investment (1) | 3,000 | — |
| Restricted cash | 139 | 136 |
| Other | 75 | 156 |
| Other assets | $8,189 | $885 |
(1) In March 2024, the Company made a $3.0 million investment in a privately held company via a simple agreement for future equity. The Company elected to apply the fair value option on this investment. The Company believes the fair value option best reflects the economics of the underlying transaction. The fair value of this investment was based on non-marketable observable inputs, which represent Level 3 measurement within the fair value hierarchy. Changes in the fair value of this investment are recognized within "Other Income (Expenses)" on the consolidated statements of operations, if any. During fiscal year 2024, there were no changes in the fair value of this investment.
| Table 9.2: Details of Accounts Payable and Other Accrued Liabilities | ||
|---|---|---|
| As of December 31, | ||
| 2024 | 2023 | |
| (in thousands) | ||
| Accounts payable | $1,153 | $8,307 |
| Accrued payables | 3,147 | 5,443 |
| Accounts payable and other accrued liabilities | $4,300 | $13,750 |
| Table 9.3: Details of Other Current Liabilities | ||
|---|---|---|
| As of December 31, | ||
| 2024 | 2023 | |
| (in thousands) | ||
| Other accrued liabilities | $829 | $1,427 |
| Restructuring expenses accrual | 37 | 400 |
| Other | 436 | 497 |
| Other current liabilities | $1,302 | $2,324 |
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