- Telos Corp TLS reported second-quarter FY22 revenue growth of 4% year-on-year to $55.8 million, missing the consensus of $76 million. Services revenue rose 2.6% Y/Y to $50.3 million.
- The gross margin contracted by 450 bps to 37.5%. Adjusted EPS of $0.04 missed the consensus of $0.11.
- Telos generated $5.4 million in free cash flow in the quarter and held $122.6 million in cash and equivalents.
- Telos formed a strategic partnership with International Business Machines Corp IBM and initiated a share buyback program.
- Outlook: Telos sees Q3 revenue of $58 million - $62 million, representing (16%) - (10)% change Y/Y.
- Telos cut its FY22 revenue from $226 million - $257 million to $226 million – $242 million, representing (7%) - 0% change Y/Y.
- Price Action: TLS shares traded higher by 0.57% at $8.87 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
