TELOS CORP
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
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FY2024 · Filed Mar 10, 2025
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, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands) | ||
| Cash flows from operating activities: | ||
| Net loss | $(52,520) | $(34,422) |
| Adjustments to reconcile net loss to cash (used in) provided by operating activities: | ||
| Stock-based compensation | 21,411 | 24,396 |
| Depreciation and amortization | 11,867 | 8,942 |
| Impairment loss on intangible assets | 11,706 | 487 |
| (Recovery from) provision for doubtful accounts, net | (20) | 152 |
| Deferred income tax provision | — | 55 |
| (Gain) loss on disposal of fixed assets | (9) | 2 |
| Accretion of discount on acquisition holdback | — | 2 |
| Amortization of debt issuance costs | 70 | 69 |
| Provision for inventory obsolescence | 108 | — |
| Gain on early extinguishment of other financing obligations | — | (1,427) |
| Changes in other operating assets and liabilities: | ||
| Accounts receivable | 11,272 | 9,493 |
| Inventories | (471) | 1,457 |
| Prepaid expenses, other current assets and other assets | (11,455) | (3,058) |
| Accounts payable and other accrued payables | (9,417) | (8,817) |
| Accrued compensation and benefits | (7,395) | 6,602 |
| Contract liabilities | 110 | 283 |
| Other current liabilities and other liabilities | (1,195) | (2,629) |
| Net cash (used in) provided by operating activities | (25,938) | 1,587 |
| Cash flows from investing activities: | ||
| Capitalized software development costs | (11,505) | (14,552) |
| Purchase of investment | (3,000) | — |
| Purchases of property and equipment, net | (2,252) | (926) |
| Net cash used in investing activities | (16,757) | (15,478) |
| Cash flows from financing activities: | ||
| Payments under finance lease obligations | (1,730) | (1,592) |
| Payment of tax withholding related to net share settlement of equity awards | (457) | (3,742) |
| Proceeds from exercise of stock options | 203 | — |
| Payments of DFT holdback amount | — | (564) |
| Repurchase of common stock | — | (139) |
| Payments for debt issuance costs | — | (114) |
| Net cash used in financing activities | (1,984) | (6,151) |
| Net change in cash, cash equivalents, and restricted cash | (44,679) | (20,042) |
| Cash, cash equivalents and restricted cash, beginning of period | 99,396 | 119,438 |
| Cash, cash equivalents and restricted cash, end of period | $54,717 | $99,396 |
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