Saturday 17 October 2026 Export TLS’s income statement to Excel — free account

Telos Corporation

Telos Corporation’s revenue for fiscal 2025 (year ended December 2025) was $164.8 million, up 52.2% from fiscal 2024. In the quarter to June 2026, revenue grew 32.7%, EPS grew 107.7%, free cash flow grew 43.0% and total debt fell 31.8%, each against the same quarter a year earlier.

4.03 0.24 −5.62%

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Market cap: $319.1M
P/E: 0.0×
Fwd P/E: −34.2×
Dividend yield: —
F-score: 6/9
Altman Z: 2.17
Beneish M: −4.97
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 9.80

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	3	—	—	2	—	2	3	—	2	5	—

Insider Ownership 29.88%

Capital & Financial Ratios $m

Market Cap 319.13

Revenue 193.71

Net Income (15.74)

Free Cash Flow 25.87

Net Debt (46.11)

Current Ratio 2.38

Debt/Equity 0.05

P/E ratio 0.00

Fwd P/E (34.20)

P/S ratio 1.56

P/B ratio 3.23

Past 5Y EPS Growth —

This Y EPS Growth 73.33%

Next Y EPS Growth 43.16%

Next Y revenue growth 16.14%

Next 5Y EPS Growth 62.48%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 17.87%

10-year low 10-year high

P/B against its own 10 years 54.16%

10-year low 10-year high

EV/Sales against its own 10 years 27.11%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2019	Powerpack
2018	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	99	55	53	51
Receivables	30	19	17	18
Inventory	1	2	—	5
Other	1	3	4	2
	140	91	94	97

	2023	2024	2025	Q'26
Payables	14	1	4	6
ST’ Debt	—	—	—	—
Other	9	7	11	17
	39	22	37	41

Compound Annual Growth %

	10y	5y	3y
Sales	—	(1.74%)	(8.75%)
Cash Flow	—	0.00%	22.28%
Earnings	—	0.00%	0.00%
Book Value	—	(5.47%)	(17.74%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	48	48	—	—	—
’25	31	36	51	47	165
’24	30	28	24	26	108
’23	35	33	36	41	145
’22	50	56	64	47	217
’21	56	54	69	64	242
’20	39	49	47	45	180

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	9	9	—	—	—
’25	6	7	9	8	30
’24	0	(8)	(7)	(11)	(26)
’23	0	(4)	1	5	2
’22	0	8	12	(4)	17
’21	(7)	4	13	(2)	7
’20	2	(1)	11	(14)	(2)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	6	7	—	—	—
’25	4	5	7	6	21
’24	(4)	(11)	(10)	(15)	(40)
’23	(4)	(9)	(3)	2	(14)
’22	(3)	5	8	(8)	3
’21	(10)	1	9	(7)	(6)
’20	0	(3)	9	(15)	(10)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.03	0.01	—	—	—
’25	(0.12)	(0.13)	(0.03)	(0.22)	(0.50)
’24	(0.10)	(0.11)	(0.39)	(0.13)	(0.73)
’23	(0.16)	(0.12)	(0.12)	(0.10)	(0.50)
’22	(0.22)	(0.18)	(0.11)	(0.21)	(0.79)
’21	(0.23)	(0.28)	(0.08)	(0.08)	(0.65)
’20	(0.04)	0.08	0.06	0.08	0.04

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	18.08	14.43	3.35	1.53	1.89	1.83	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	33.03	41.84	16.15	5.36	5.03	8.36
People
People	Employees	—	—	—	—	785	849	738	619	519	525
	Revenue/emp, $m	0.00	0.00	0.00	0.00	0.23	0.29	0.29	0.23	0.21	0.31
Income, $m
Income, $m	Revenue	135	108	138	159	180	242	217	145	108	165
	Gross margin, %	32.21	37.66	38.45	32.88	34.69	35.49	36.44	36.42	31.80	37.02
	EBT	(3)	(6)	2	(2)	7	(43)	(53)	(34)	(52)	(37)
	EBT margin, %	(2.47)	(5.82)	1.28	(1.41)	3.78	(17.80)	(24.61)	(23.65)	(48.48)	(22.58)
	Net income	(7)	0	2	(2)	7	(43)	(53)	(34)	(53)	(37)
	Depreciation	3	2	3	5	6	6	6	9	12	26
Per share, $
Per share, $	Revenue	2.08	1.67	3.75	4.22	4.32	3.65	3.21	2.10	1.51	2.26
	Earnings	(0.11)	(0.09)	0.05	(0.06)	0.04	(0.65)	(0.79)	(0.50)	(0.73)	(0.50)
	Cash flow	0.21	(0.01)	0.17	0.31	(0.05)	0.11	0.24	0.02	(0.36)	0.41
	Capex	0.00	0.00	(0.11)	(0.17)	(0.18)	(0.20)	(0.20)	(0.22)	(0.19)	(0.12)
	Free cash flow	0.21	(0.01)	0.06	0.14	(0.23)	(0.09)	0.04	(0.20)	(0.55)	0.29
	Book value	(2.04)	(2.12)	0.00	(3.62)	3.05	2.72	2.55	2.30	1.77	1.32
	Shares, m	65	65	37	38	42	66	68	69	72	73
Valuation, ×
Valuation, ×	P/E	367.57	367.57	367.57	367.57	178.08	0.00	0.00	0.00	0.00	0.00
	P/S	4.36	4.36	4.36	4.36	7.63	4.22	1.62	1.94	2.27	2.26
	P/B	0.00	0.00	0.00	0.00	10.81	5.68	2.03	1.77	1.93	3.87
	EV/Sales	4.49	4.49	4.49	4.49	7.22	3.82	1.20	1.44	1.99	2.07
	EV/FCF	56.15	56.15	56.15	56.15	(135.76)	(156.88)	92.98	(15.05)	(5.43)	16.04
Cash, $m
Cash, $m	Operating cash flow	14	(1)	6	12	(2)	7	17	2	(26)	30
	Capex	(1)	(2)	(4)	(7)	(7)	(13)	(14)	(15)	(14)	(9)
	Free cash flow	14	(1)	2	5	(10)	(6)	3	(14)	(40)	21
Balance, $m
Balance, $m	Working capital	(9)	(6)	2	3	105	141	122	101	69	58
	Total debt	153	164	166	35	14	13	11	10	8	6
	Net debt	152	163	166	28	(92)	(114)	(108)	(90)	(47)	(48)
	Shareholders’ equity	(132)	(137)	—	(137)	127	180	172	159	127	96
Returns, %
Returns, %	ROA	(10.24)	(19.31)	0.00	(9.27)	1.29	(20.07)	(22.10)	(15.43)	(28.63)	(24.52)
	ROIC	0.00	0.00	3.40	0.00	0.52	(38.95)	(52.34)	(36.38)	(43.54)	(51.52)
	ROE	5.33	4.33	1.21	4.72	(35.45)	(28.07)	(30.30)	(20.78)	(36.71)	(32.76)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
QIWI QIWI PLC	$355.6M	9.1×	3.3×	−360.74% (below 0%: shrinking)	n/m	−94.56% (below 0%: shrinking)	51.39%	24.46%	Compare
NUAI New Era Energy & Digital, Inc.	$354.9M	— (loss-making)	—	−82.54% (below 0%: shrinking)	n/m	−399.88% (below 0%: shrinking)	100.00%	(46,250.68%)	Compare
AIOT PowerFleet, Inc.	$334.2M	— (loss-making)	53.6×	+6.41% (above 0%: growing)	n/m	+92.55% (above 0%: growing)	55.20%	0.24%	Compare
SUPX SuperX AI Technology Limited	$325.4M	—	—	—	—	−135,337.38% (below 0%: shrinking)	—	—	Compare
IMXI INTERNATIONAL MONEY EXPRESS, INC.	$319.6M	16.4×	29.3×	−18.60% (below 0%: shrinking)	−62.16% (below 0%: shrinking)	+203.48% (above 0%: growing)	20.76%	6.67%	Compare
TLS Telos Corporation	$319.1M	— (loss-making)	— (loss-making)	+32.74% (above 0%: growing)	n/m	+42.95% (above 0%: growing)	34.96%	0.65%
KDK Kodiak AI, Inc.	$319.0M	— (loss-making)	—	+595.63% (above 0%: growing)	n/m	−60.60% (below 0%: shrinking)	100.00%	(1,248.27%)	Compare
XNET Xunlei Limited	$295.8M	— (loss-making)	—	+38.73% (above 0%: growing)	n/m	+309.97% (above 0%: growing)	56.13%	(4.67%)	Compare
PSFE Paysafe Limited	$295.5M	— (loss-making)	— (loss-making)	+4.49% (above 0%: growing)	n/m	−148.29% (below 0%: shrinking)	54.48%	(2.84%)	Compare
Median of peers	$322.5M	—	29.3×	+4.49%	—	−77.58%	55.20%	(2.84%)

All 173 Software Infrastructure stocks →

Telos Corporation (TLS) key facts

Strength: Telos Corporation’s revenue for fiscal 2025 (year ended December 2025) was $164.8 million, up 52.2% from fiscal 2024.
Telos Corporation (TLS) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, TLS traded at $4.03, a market capitalization of $319.1 million.
Return on equity was −32.8% and debt-to-equity 0.05.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.17 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.