Why Is IT And Cybersecurity Company Telos Stock Rising Today?

Telos Corporation TLS shares are trading higher after the company announced it was awarded a $12.5 billion ceiling, multiple award, IDIQ contract for base infrastructure modernization.

The contract aims to modernize and maintain network infrastructure at all Department of the Air Force (DAF) locations, including Guard and Reserve bases. This global work is projected to finish by August 15, 2034.

Multi-year task orders may be issued during the final year of the IDIQ, enabling continued work beyond 2034.

This contract, awarded through a competitive process by the Air Force Life Cycle Management Center's Cyber and Networks Contracting Organization at Hanscom Air Force Base, saw 47 proposals, with 23 companies receiving prime contracts.

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Since 2023, Telos has won positions on several federal contract vehicles in addition to BIM. Telos said these contracts provide access to a $24.5 billion addressable market.

These include the Defense Manpower Data Center (DMDC) Defense Enterprise HR Applications and Data Services (DEHRADS), the U.S. Army EUROPE Infrastructure Modernization Capabilities Set (Army IMOD CAPSET), the U.S. Marine Corps (USMC) Infrastructure Services, Transport and Communications (ISTC) Base Area Network (BAN), and the FBI Information Technology Supplies and Support Services (IT-SSS) 2nd Generation.

Price Action: TLS shares are trading higher by 17.8% to $3.405 at last check Tuesday.

Photo via Shutterstock

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