TELOS CORP
For the period ended Mar 31, 2026. Filed May 11, 2026.
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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, 2026 · Filed May 11, 2026
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. Other Balance Sheet Components
- OTHER BALANCE SHEET COMPONENTS
| Table 8.1: Details of Other Current Assets | ||
|---|---|---|
| March 31, 2026 | December 31, 2025 | |
| (in thousands) | ||
| Inventories, net | $2,890 | $996 |
| Deferred costs | 791 | 887 |
| Receivables - other | — | 529 |
| Other | — | 1,250 |
| Other current assets | $3,681 | $3,662 |
| Table 8.2: Details of Other Assets | ||
|---|---|---|
| March 31, 2026 | December 31, 2025 | |
| (in thousands) | ||
| Investment (1) | $3,750 | $3,750 |
| Prepaid expense and deferred commission – long-term portion | 563 | 537 |
| Restricted cash | 140 | 140 |
| Other | 90 | 86 |
| Other assets | $4,543 | $4,513 |
(1) In March 2024, we made a $3.0 million investment in a privately held company via a simple agreement for future equity ("SAFE"). In October 2025, the Company's SAFE investment was settled into 8,964,262 shares of Series A common stock at a settlement price of $0.42 per share, based on the valuation cap in the original agreement, resulting in 3.8% ownership with no significant influence over the privately-held company. Upon settlement of the SAFE, the investment was remeasured to its fair value of $3.8 million. The SAFE investment was settled into equitable shares of the privately-held company's common stock. The investment does not have a readily determinable fair value and the Company elected the measurement alternative to value its investment. The fair value of this investment was based on non-marketable observable inputs, which represent Level 3 measurement within the fair value hierarchy. The investment was carried at cost less impairment, if any, and subsequently measured to fair value upon observable price changes in an orderly transaction for the identical or similar investment of the same issuer, with any gains or losses recorded within "other income" on the unaudited consolidated statement of operations. We did not note any changes in the fair value during the three months ended March 31, 2026, and 2025.
| Table 8.3: Details of Accrued Liabilities | ||
|---|---|---|
| March 31, 2026 | December 31, 2025 | |
| (in thousands) | ||
| Accrued project expenses | $4,321 | $4,289 |
| Restructuring expenses accrual | 1,071 | 1,451 |
| Other | 1,222 | 1,160 |
| Accrued liabilities | $6,614 | $6,900 |
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