TELOS CORP
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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, 2025 · Filed May 9, 2025
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9. Other Balance Sheet Components
- OTHER BALANCE SHEET COMPONENTS
| Table 9.1: Details of Other Assets | ||
|---|---|---|
| March 31, 2025 | December 31, 2024 | |
| (in thousands) | ||
| Prepaid expense – long-term portion | $2,090 | $4,975 |
| Investment (1) | 3,000 | 3,000 |
| Restricted cash | 139 | 139 |
| Other | 70 | 75 |
| Other assets | $5,299 | $8,189 |
(1) In March 2024, we 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 unaudited consolidated statements of operations, if any. We did not note any changes in the fair value during the three months ended March 31, 2025, and 2024.
| Table 9.2: Details of Accounts Payable and Other Accrued Liabilities | ||
|---|---|---|
| March 31, 2025 | December 31, 2024 | |
| (in thousands) | ||
| Accounts payable | $1,045 | $1,153 |
| Accrued payables | 4,772 | 3,147 |
| Accounts payable and other accrued liabilities | $5,817 | $4,300 |
| Table 9.3: Details of Other Current Liabilities | ||
|---|---|---|
| March 31, 2025 | December 31, 2024 | |
| (in thousands) | ||
| Other accrued expenses | $933 | $829 |
| Restructuring expenses accrual | — | 37 |
| Other | 471 | 436 |
| Other current liabilities | $1,404 | $1,302 |
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