TELOS CORP
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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FY2025 · Filed Mar 16, 2026
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, | ||
|---|---|---|
| 2025 | 2024 | |
| (in thousands) | ||
| Cash flows from operating activities: | ||
| Net loss | $(36,546) | $(52,520) |
| Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ||
| Stock-based compensation | 30,150 | 21,411 |
| Depreciation and amortization | 11,451 | 11,867 |
| Goodwill impairment | 14,916 | — |
| Provision for (recovery from) doubtful accounts, net | 2 | (20) |
| Benefit from deferred income taxes | (760) | — |
| Loss (gain) on disposal of fixed assets | 15 | (9) |
| Unrealized gain on fair value adjustment of investment | (750) | — |
| Amortization of debt issuance costs | 70 | 70 |
| Provision for inventory obsolescence | 418 | 108 |
| Impairment loss on intangible assets | — | 11,706 |
| Changes in other operating assets and liabilities: | ||
| Accounts receivable | 2,170 | 11,272 |
| Prepaid expenses, deferred program expenses, other current assets and other assets | (472) | (11,926) |
| Accounts payable | 2,724 | (7,121) |
| Accrued compensation and benefits | 650 | (7,395) |
| Contract liabilities | 5,510 | 110 |
| Accrued liabilities and other liabilities | 634 | (3,491) |
| Net cash provided by (used in) operating activities | 30,182 | (25,938) |
| Cash flows from investing activities: | ||
| Capitalized software development costs | (8,176) | (11,505) |
| Purchases of property and equipment, net | (739) | (2,252) |
| Purchase of investment | — | (3,000) |
| Net cash used in investing activities | (8,915) | (16,757) |
| Cash flows from financing activities: | ||
| Payments under finance lease obligations | (1,877) | (1,730) |
| Payment of tax withholding related to net share settlement of equity awards | (7,254) | (457) |
| Proceeds from exercise of stock options | 108 | 203 |
| Repurchase of common stock | (13,627) | — |
| Payments for debt issuance costs | (14) | — |
| Net cash used in financing activities | (22,664) | (1,984) |
| Net change in cash, cash equivalents, and restricted cash | (1,397) | (44,679) |
| Cash, cash equivalents and restricted cash, beginning of period | 54,717 | 99,396 |
| Cash, cash equivalents and restricted cash, end of period | $53,320 | $54,717 |
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