TELOS CORP
For the period ended Jun 30, 2025. Filed Aug 11, 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.
Jun 30, 2025 · Filed Aug 11, 2025
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Financial Overview
A number of factors have contributed to our financial performance in the second quarter ended June 30, 2025, the most significant of which are described below. More details on these factors are presented below within our "Results of Operations" section.
The year-over-year increase in revenue was primarily driven by the successful transition and ramping towards the full operational capacity of a significant program within our Security Solutions segment.
Our TSA PreCheck® enrollment revenue grew as a result of the expansion of TSA PreCheck enrollment sites.
Our operating expenses increased due to higher stock-based compensation expense, partially offset by the lower expense associated with the restructuring efforts undertaken in the third quarter of 2024. Operating expenses, excluding stock-based compensation expense, declined year-over-year.
We deployed $4.0 million to repurchase approximately 1.5 million shares of our common stock at a weighted-average share price of $2.69 per share.
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