TELOS CORP
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
View on SEC.govAbout this filing
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, 2025 · Filed Nov 10, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
4. Accounts Receivable, Net
- ACCOUNTS RECEIVABLE, NET
| Table 4: Details of Accounts Receivable, Net | ||
|---|---|---|
| September 30, 2025 | December 31, 2024 | |
| (in thousands) | ||
| Billed accounts receivable | $13,790 | $10,070 |
| Unbilled accounts receivable | 6,326 | 5,412 |
| Contract assets | 358 | 3,746 |
| Allowance for credit losses (1) | (51) | (56) |
| Accounts receivable, net | $20,423 | $19,172 |
(1) Includes provision for credit losses, net of recoveries.
As our primary customer base includes agencies of the U.S. federal government, we have a concentration of credit risk associated with our accounts receivable, as 89% and 88% of our billed and unbilled accounts receivable as of September 30, 2025, and December 31, 2024, respectively, were with U.S. federal government customers. While we acknowledge the potential material and adverse risk of such a significant concentration of credit risk, our past experience collecting substantially all of such receivables provides us with an informed basis that such risk, if any, is manageable. We perform ongoing credit evaluations of all of our customers and generally do not require collateral or other guarantees from our customers. We maintain allowances for potential losses.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.