Reports Q1 revenue $29.6M, consensus $28.38M. “I am pleased to report Telos exceeded the high end of our guidance range on key financial metrics and while GAAP gross margin contracted 127 basis points compared to the first quarter of 2023 due to higher amortization, we expanded cash gross margin 249 basis points to 42.2%,” said John B. Wood, chairman and CEO, Telos. “We look forward to building on this performance with sequential revenue growth expected later this year, subject to favorable resolution of the protests associated with the significant new business awards received in the first quarter.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TLS:
- TLS Upcoming Earnings Report: What to Expect?
- Telos Corporation to Participate in Upcoming Investor Conferences
- Telos Corporation to Announce First Quarter 2024 Financial Results on May 10, 2024
- Telos Corporation, an Official TSA PreCheck® Enrollment Provider, Expands Enrollment and Renewal Options by Opening New Locations
- Telos expands enrollment, renewal options by opening new locations