Telos Corporation (TLS) has announced its fourth-quarter financial results and complete financial results for the current fiscal year. The company continued its pattern of double-digit revenue growth and signed several major contracts.
In 2020, Telos’ revenue increased by 13% to $ 179.9 million, and net profit was $ 1.7 million compared to a loss of $ 6.4 million a year earlier. Stocks of cash and equivalents rose to $ 106 million, and their value in 2019 was $ 6.8 million.
As part of the FBI’s risk management services, Telos Corporation (TLS) has won several significant contracts. Telos was contracted to provide the federal agency with the Xacta risk management system within a $14.5 million contract.
Moreover, Telos IDTrust360 will be deployed nationwide through the US Census Bureau contract to create a thousand processing centres for survey and census data. Healthcare insurers Medicare and Medicaid have awarded Telos a $2 billion multi-year contract for services through its IDTrust360 platform.
Telos Corporation (TLS) appeared to be maturing in 2021 after receiving several contracts from the Pentagon and entering into partnerships.
According to Telos’ results for the current financial year, revenue is expected to rise between 57 and 64% from the previous year to $283 to $295 million in Adjusted EBITDA. The range of $ 33 – 36 million represents an increase between 190 and 216%.
Telos Corporation’s (TLS) stock is trading -9.87% below its three-month high price, according to recent research. As for the stock in the opposite direction, it is up +37.13% over its three-month low. TLS is currently trading -9.87% lower than its 52-week high and 108.57% higher than its 52-week low price.