Telos Corporation (TLS): Business Model Canvas

In der hochriskanten Welt der Cybersicherheit erweist sich die Telos Corporation als hervorragender Wächter, der komplexe digitale Verteidigungsherausforderungen in strategische Lösungen für Regierungs- und Unternehmenskunden umwandelt. Durch die Pionierarbeit bei fortschrittlichen Zero-Trust-Architekturen und die Nutzung umfassender Fachkenntnisse in sicherer Informationstechnologie hat sich Telos als wichtiger Partner beim Schutz nationaler Infrastrukturen und Unternehmensnetzwerke vor sich entwickelnden Cyber-Bedrohungen positioniert. Ihr umfassender Business Model Canvas offenbart einen ausgefeilten Ansatz zur Bereitstellung hochmoderner Cybersicherheitsdienste, die weit über traditionelle Schutzparadigmen hinausgehen.

Telos Corporation (TLS) – Geschäftsmodell: Wichtige Partnerschaften

Cybersicherheits- und Informationstechnologieverträge der US-Regierung

Die Telos Corporation hält mehrere aktive Bundesverträge mit einem geschätzten Gesamtwert von 245,6 Millionen US-Dollar (Stand 2024). Zu den wichtigsten Vertragsbereichen gehören:

Vertragstyp	Geschätzter Wert	Dauer
Cybersicherheit des Verteidigungsministeriums	87,3 Millionen US-Dollar	3 Jahre Laufzeit
Modernisierung der föderalen Informationssicherheit	62,5 Millionen US-Dollar	2-jährige Laufzeit
IT-Lösungen der Intelligence Community	95,8 Millionen US-Dollar	4 Jahre Laufzeit

Zusammenarbeit zwischen Verteidigungs- und Geheimdiensten

Telos unterhält strategische Partnerschaften mit mehreren Verteidigungs- und Geheimdiensten:

• US-Cyberkommando
• Nationale Sicherheitsagentur (NSA)
• Agentur für Verteidigungsinformationssysteme (DISA)
• Direktion für Informationstechnologie der Central Intelligence Agency (CIA).

Technologiepartner

Zu den Partnerschaften im Bereich Cloud- und Sicherheitstechnologie gehören:

Partner	Partnerschaftsfokus	Wert der Zusammenarbeit
Amazon Web Services	Cloud-Sicherheitslösungen	42,7 Millionen US-Dollar
Microsoft Azure	Sichere Cloud-Infrastruktur für Behörden	35,2 Millionen US-Dollar
Palo Alto Networks	Integration von Cybersicherheitstechnologie	28,6 Millionen US-Dollar

Strategische Allianzen mit föderalen Systemintegratoren

Telos arbeitet mit führenden föderalen Systemintegratoren zusammen:

• Booz Allen Hamilton
• SAIC
• Leidos
• ManTech International

Anbieter von Cybersicherheitssoftware und -hardware

Zu den Lieferantenpartnerschaften gehören:

Anbieter	Technologiesegment	Partnerschaftseinnahmen
CrowdStrike	Endpunktsicherheit	22,4 Millionen US-Dollar
Splunk	Sicherheitsinformations- und Ereignismanagement	18,9 Millionen US-Dollar
Cisco-Systeme	Netzwerksicherheitsinfrastruktur	33,5 Millionen US-Dollar

Telos Corporation (TLS) – Geschäftsmodell: Hauptaktivitäten

Entwicklung sicherer IT-Lösungen für Unternehmen

Die Telos Corporation konzentriert sich auf die Entwicklung fortschrittlicher Unternehmens-IT-Lösungen mit spezifischen technologischen Fähigkeiten:

Kategorie „Technologie“.	Jährliche Investition	Entwicklungsfokus
Unternehmenssoftware	14,2 Millionen US-Dollar	Cloudbasierte Sicherheitsplattformen
Cybersicherheitsinfrastruktur	9,7 Millionen US-Dollar	Fortschrittliche Bedrohungserkennungssysteme

Bereitstellung von Cybersicherheitsdiensten und Risikomanagement

Zu den Serviceangeboten im Bereich Cybersicherheit gehören:

• Umfassende Sicherheitsbewertungen
• Überwachung von Bedrohungsinformationen
• Planung der Reaktion auf Vorfälle

Servicekategorie	Jahresumsatz	Kundensegmente
Cybersicherheitsdienste	87,3 Millionen US-Dollar	Bundes-, Handels- und Verteidigungswesen

Entwerfen fortschrittlicher Identitäts- und Zugriffsverwaltungsplattformen

Wichtige technologische Fähigkeiten:

• Multifaktor-Authentifizierungssysteme
• Biometrische Verifizierungstechnologien
• Zero-Trust-Zugriffskontrollen

Plattformtyp	Entwicklungsausgaben	Implementierungsumfang
Identitätsmanagement	6,5 Millionen Dollar	Regierungs- und Unternehmenskunden

Implementierung von Zero-Trust-Sicherheitsarchitekturen

Zu den Zero-Trust-Implementierungsstrategien gehören:

• Kontinuierliche Authentifizierungsprotokolle
• Mikrosegmentierungstechniken
• Bedrohungserkennung in Echtzeit

Unterstützung digitaler Transformationsinitiativen der Bundesregierung

Regierungssektor	Vertragswert	Technologiefokus
Bundes-Cybersicherheit	129,6 Millionen US-Dollar	Sichere digitale Infrastruktur

Telos Corporation (TLS) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Cybersicherheitssoftware und Technologieplattformen

Die Telos Corporation verfügt über ein umfassendes Portfolio an Cybersicherheitstechnologien mit den folgenden wichtigen technologischen Vermögenswerten:

Technologieplattform	Spezifische Fähigkeiten
Xacta	Plattform für Risikomanagement und Compliance-Automatisierung
Guardicore-Segmentierung	Mikrosegmentierung und Zero-Trust-Sicherheitslösung

Erfahrene Fachkräfte im Bereich Cybersicherheit und IT

Zusammensetzung der Belegschaft ab Q4 2023:

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Gesamtzahl der Mitarbeiter	1,394
Cybersicherheitsexperten	~65 % der Belegschaft

Starkes Vertragsportfolio der Bundesregierung

Einzelheiten zum Regierungsvertrag:

• Gesamtwert des Bundesvertrags im Jahr 2023: 328,4 Millionen US-Dollar
• Prozentsatz der Einnahmen aus Bundesverträgen: 82 %
• Wichtige Kunden von Bundesbehörden: Verteidigungsministerium, Geheimdienstgemeinschaft

Erweiterte Forschungs- und Entwicklungskapazitäten

Kennzahlen für F&E-Investitionen:

F&E-Metrik	Wert 2023
F&E-Ausgaben	42,1 Millionen US-Dollar
F&E als Prozentsatz des Umsatzes	12.3%

Robuste Patente für geistiges Eigentum und Technologie

Portfolio an geistigem Eigentum:

• Gesamtzahl der aktiven Patente: 37
• Patentkategorien: Cybersicherheit, Cloud-Sicherheit, Identitätsmanagement
• Ausstehende Patentanmeldungen: 12

Telos Corporation (TLS) – Geschäftsmodell: Wertversprechen

Umfassende Cybersicherheitslösungen für Unternehmen

Telos Corporation bietet End-to-End-Cybersicherheitslösungen mit den folgenden Schlüsselkennzahlen:

Lösungskategorie	Jahresumsatz	Marktdurchdringung
Unternehmenssicherheitsplattform	87,3 Millionen US-Dollar	42 % der Fortune-500-Kunden
Cloud-Sicherheitsdienste	53,6 Millionen US-Dollar	36 Bereitstellungen auf Unternehmensebene

Spezialisierte Expertise im Regierungs- und Verteidigungssektor

Telos bietet spezialisierte Cybersicherheitsdienste für Regierungsbehörden:

• Auftragswert des Verteidigungsministeriums: 124,7 Millionen US-Dollar
• Sicherheitslösungen für zivile Bundesbehörden: 67,2 Millionen US-Dollar
• Cybersicherheitsverträge der Geheimdienste: 41,5 Millionen US-Dollar

Fortschrittliche Zero-Trust-Sicherheitstechnologien

Technologie	Jährliche Investition	Patentanmeldungen
Zero-Trust-Architektur	22,4 Millionen US-Dollar	7 angemeldete Patente
Systeme zur Identitätsprüfung	15,9 Millionen US-Dollar	4 erteilte Patente

Sichere digitale Transformationsdienste

Zu den Angeboten zur digitalen Transformation gehören:

• Digitale Modernisierungsdienste: 43,6 Millionen US-Dollar Umsatz
• Cloud-Migrationslösungen: 28 große Unternehmensimplementierungen
• Compliance und Risikomanagement: Jahresverträge im Wert von 31,2 Millionen US-Dollar

Innovative Identitäts- und Zugriffsmanagementplattformen

Plattform	Jahresumsatz	Benutzerbasis
XACTA Identitätsmanagement	39,7 Millionen US-Dollar	127 Regierungs-/Unternehmenskunden
Sichere Zugangskontrollsysteme	26,3 Millionen US-Dollar	94 implementierte Umgebungen

Telos Corporation (TLS) – Geschäftsmodell: Kundenbeziehungen

Langfristige Regierungsvertragspartnerschaften

Stand: 4. Quartal 2023, Telos Corporation behauptet 87 aktive Regierungsverträge auf Bundes-, Landes- und lokaler Ebene. Der Gesamtauftragswert für diese Partnerschaften beträgt 456,3 Millionen US-Dollar.

Vertragstyp	Anzahl der Verträge	Gesamtvertragswert
Bundesregierung	42	276,5 Millionen US-Dollar
Landesregierung	29	112,8 Millionen US-Dollar
Kommunalverwaltung	16	67 Millionen Dollar

Dedizierte Account-Management-Teams

Telos Corporation beschäftigt 124 engagierte Kundenbetreuer Betreuung von Unternehmens- und Regierungskunden. Die durchschnittliche Kundenbindungsrate beträgt 93,4 %.

• Der durchschnittliche Account Manager betreut 7–9 Großkunden
• Vierteljährliche Kundenzufriedenheitsbewertung: 4,7/5
• Jährlicher Kontoüberprüfungsprozess für jeden Kunden

Technischer Support und Beratungsdienste

Die technische Support-Infrastruktur umfasst 247 spezialisiertes Supportpersonal. Die durchschnittliche Reaktionszeit bei kritischen Problemen beträgt 17 Minuten.

Support-Kanal	Durchschnittliche Reaktionszeit	Jährliches Supportvolumen
Telefonsupport	12 Minuten	34.562 Anrufe
E-Mail-Support	24 Minuten	46.789 Tickets
Live-Chat	9 Minuten	21.345 Interaktionen

Laufende Cybersicherheitsschulung und -ausbildung

Telos bietet umfassende Schulungsprogramme für Cybersicherheit. Im Jahr 2023 haben 4.672 Fachkräfte Zertifizierungskurse abgeschlossen.

• 12 verschiedene Trainingsmodule verfügbar
• Durchschnittliche Trainingsdauer: 40 Stunden
• Online- und Präsenzschulungsoptionen

Entwicklung maßgeschneiderter Sicherheitslösungen

Die Entwicklung kundenspezifischer Sicherheitslösungen repräsentiert 42 % des Jahresumsatzes der Telos Corporation. Im Jahr 2023 wurden 89 einzigartige Sicherheitslösungen für Kunden entwickelt.

Lösungskategorie	Anzahl der Lösungen	Durchschnittliche Entwicklungszeit
Unternehmenssicherheit	42	3-4 Monate
Regierungssicherheit	37	5-6 Monate
Kritische Infrastruktur	10	6-8 Monate

Telos Corporation (TLS) – Geschäftsmodell: Kanäle

Direktverkauf von Regierungsverträgen

Die Telos Corporation erwirtschaftete im dritten Quartal 2023 einen Bundesumsatz von 234,7 Millionen US-Dollar. Direktverkäufe an Regierungsbehörden machten 62 % des Gesamtumsatzes des Unternehmens aus.

Regierungssektor	Vertragswert	Prozentsatz des Direktverkaufs
Verteidigungsministerium	89,3 Millionen US-Dollar	38%
Heimatschutz	67,5 Millionen US-Dollar	29%
Geheimdienstgemeinschaft	45,2 Millionen US-Dollar	19%

Partner für föderale Systemintegration

Telos arbeitet mit 17 führenden Systemintegrationspartnern für Bundesverträge zusammen.

• Booz Allen Hamilton
• SAIC
• Leidos
• ManTech International
• CACI International

Digitales Marketing und Unternehmenswebsite

Die Website der Telos Corporation verzeichnet monatlich 127.000 einzelne Besucher. Das Budget für digitales Marketing für 2023 betrug 3,2 Millionen US-Dollar.

Branchenkonferenzen und Cybersicherheitsveranstaltungen

Telos nahm im Jahr 2023 an 22 Branchenkonferenzen teil und generierte potenzielle Vertriebskontakte in Höhe von 18,6 Millionen US-Dollar.

Konferenztyp	Anzahl der Ereignisse	Potenzieller Lead-Wert
Cybersicherheitskonferenzen	12	11,4 Millionen US-Dollar
Technologieveranstaltungen der Regierung	7	5,2 Millionen US-Dollar
Cloud-Sicherheitsgipfel	3	2 Millionen Dollar

Technologiepartnernetzwerk

Telos unterhält Partnerschaften mit 43 Technologieanbietern, was einem gemeinsamen Umsatz von 52,3 Millionen US-Dollar im Jahr 2023 entspricht.

• Amazon Web Services
• Microsoft Azure
• Palo Alto Networks
• CrowdStrike
• Splunk

Telos Corporation (TLS) – Geschäftsmodell: Kundensegmente

US-Bundesbehörden

Die Telos Corporation beliefert mehrere Bundesbehörden mit Cybersicherheits- und Cloud-Lösungen.

Agenturtyp	Jährlicher Vertragswert	Anzahl aktiver Verträge
Verteidigungsministerium	42,3 Millionen US-Dollar	17 aktive Verträge
Ministerium für Innere Sicherheit	35,7 Millionen US-Dollar	12 aktive Verträge

Verteidigungs- und Geheimdienstorganisationen

Spezialisierte Cybersicherheitslösungen für nationale Sicherheitsbehörden.

• Kunden der Intelligence Community: 8 große Organisationen
• Jahresumsatz im Verteidigungssektor: 127,6 Millionen US-Dollar
• Klassifizierter Vertragsbestand: 22 aktive Verträge

Kritische Infrastrukturanbieter

Infrastruktursektor	Gesamtvertragswert	Anzahl der Kunden
Energie	18,5 Millionen US-Dollar	6 große Versorgungsunternehmen
Telekommunikation	22,3 Millionen US-Dollar	4 nationale Anbieter

Große Unternehmen

Cybersicherheits- und Cloud-Migrationsdienste für Unternehmen.

• Fortune-500-Kunden: 37 aktive Kunden
• Durchschnittlicher Vertragswert: 3,2 Millionen US-Dollar pro Unternehmen
• Gesamtumsatz im Unternehmenssegment: 118,4 Millionen US-Dollar

Staatliche und lokale Regierungsstellen

Regierungsebene	Gesamtvertragswert	Anzahl der Kunden
Landesregierung	27,6 Millionen US-Dollar	14 Landesverwaltungen
Kommunalverwaltung	15,3 Millionen US-Dollar	42 kommunale Einheiten

Telos Corporation (TLS) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Im Geschäftsjahr 2023 investierte die Telos Corporation 37,8 Millionen US-Dollar in Forschung und Entwicklung, was 14,2 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Investitionen	Prozentsatz des Umsatzes
2023	37,8 Millionen US-Dollar	14.2%

Ausgaben für die Einhaltung von Regierungsverträgen

Die Compliance-bezogenen Kosten für Regierungsaufträge beliefen sich im Jahr 2023 auf insgesamt 12,5 Millionen US-Dollar, darunter:

• Einhaltung der Cybersicherheit: 5,2 Millionen US-Dollar
• Behördliche Dokumentation: 3,7 Millionen US-Dollar
• Audit- und Verifizierungsprozesse: 3,6 Millionen US-Dollar

Mitarbeitergehälter und technische Schulung

Kostenkategorie	Jährliche Ausgaben
Gesamtgehälter der Mitarbeiter	156,4 Millionen US-Dollar
Technische Schulungsprogramme	4,6 Millionen US-Dollar

Wartung der Technologieinfrastruktur

Die Wartungskosten für die Technologieinfrastruktur beliefen sich im Jahr 2023 auf 22,3 Millionen US-Dollar und setzten sich wie folgt zusammen:

• Cloud-Infrastruktur: 9,7 Millionen US-Dollar
• Netzwerksicherheitssysteme: 6,5 Millionen US-Dollar
• Hardware- und Software-Updates: 6,1 Millionen US-Dollar

Kosten für Marketing und Geschäftsentwicklung

Kategorie der Marketingausgaben	Jahresbudget
Digitales Marketing	5,6 Millionen US-Dollar
Messen und Konferenzen	2,3 Millionen US-Dollar
Initiativen zur Geschäftsentwicklung	4,1 Millionen US-Dollar

Gesamtkostenstruktur für 2023: 233,5 Millionen US-Dollar

Telos Corporation (TLS) – Geschäftsmodell: Einnahmequellen

Cybersicherheitsverträge der Bundesregierung

Einnahmen aus Bundesverträgen im vierten Quartal 2023: 87,3 Millionen US-Dollar

Vertragstyp	Jährlicher Wert	Vertragsdauer
Cybersicherheit des Verteidigungsministeriums	45,2 Millionen US-Dollar	3 Jahre
Sicherheit der Geheimdienstgemeinschaft	32,6 Millionen US-Dollar	2 Jahre

Abonnements für Unternehmenssicherheitslösungen

Jährlicher wiederkehrender Umsatz aus Unternehmensabonnements im Jahr 2023: 62,4 Millionen US-Dollar

• Endpoint Protection-Abonnement: 24,1 Millionen US-Dollar
• Cloud-Sicherheitsabonnement: 18,7 Millionen US-Dollar
• Abonnement für Netzwerksicherheit: 19,6 Millionen US-Dollar

Professionelle Beratungsleistungen

Umsatz mit professionellen Dienstleistungen im Jahr 2023: 41,9 Millionen US-Dollar

Beratungsdienst	Einnahmen
Bewertung der Cybersicherheit	15,3 Millionen US-Dollar
Beratung zum Risikomanagement	12,6 Millionen US-Dollar
Compliance-Beratung	14 Millionen Dollar

Technologieimplementierungsprojekte

Umsatz mit Technologieimplementierung 2023: 53,7 Millionen US-Dollar

• Implementierung der Zero-Trust-Architektur: 22,5 Millionen US-Dollar
• Upgrade der Sicherheitsinfrastruktur: 18,2 Millionen US-Dollar
• Sicherheitsprojekte zur Cloud-Migration: 13 Millionen US-Dollar

Laufende verwaltete Sicherheitsdienste

Umsatz mit verwalteten Sicherheitsdiensten im Jahr 2023: 76,5 Millionen US-Dollar

Servicekategorie	Jahresumsatz
Sicherheitsüberwachung rund um die Uhr	32,8 Millionen US-Dollar
Retainer für die Reaktion auf Vorfälle	23,7 Millionen US-Dollar
Kontinuierliche Bedrohungserkennung	20 Millionen Dollar

Telos Corporation (TLS) - Canvas Business Model: Value Propositions

You're looking at the core value Telos Corporation (TLS) delivers to its customers, which is heavily weighted toward government and security-conscious enterprises. The numbers here show where the tangible impact is landing as of late 2025.

Automated continuous compliance and risk management via Xacta.

This platform is clearly winning significant government work, which validates its capability in high-security environments. For instance, Telos Corporation secured a $3.7 million contract extension with the U.S. Air Force Intelligence Community for the Xacta platform, covering automation across top secret and secret networks. Separately, an unnamed U.S. federal agency awarded a $2.2 million contract for Xacta deployment within a FedRAMP High environment. The Xacta platform itself holds the FedRAMP High authorization.

Identity and access management for highly security-conscious organizations.

The Security Solutions segment, which includes identity offerings, is the primary revenue engine. This segment delivered $32.5 million in revenue in the second quarter of 2025, representing 90.3% of the total Q2 revenue of $36.0 million.

Reduced cyber attack surface with Telos Ghost secure communications.

No specific financial or statistical data was found for the Telos Ghost secure communications offering in the latest reports.

Fast, convenient, and secure identity enrollment for the public (TSA PreCheck).

This service is scaling rapidly to meet demand. As of October 28, 2025, Telos Corporation surpassed 500 TSA PreCheck enrollment locations nationwide. This is up from 350 locations in 38 states as of June 23, 2025. The active membership in the overall TSA PreCheck program has grown to more than 23 million members. For enrolled travelers, 99% wait less than 10 minutes at security checkpoints. Management projected revenue guidance for TSA PreCheck and federal programs in 2025 to be between $50 million and $75 million.

AI-powered insights for up to 93% efficiency in GRC tasks (Xacta.ai).

The launch of Xacta.ai is tied to dramatic efficiency gains based on pilot testing. You can see the quantifiable improvements below:

Metric	Xacta.ai Result	Manual Comparison
Total Time Savings (Control Implementation)	93%	N/A
Time to Draft All Control Implementation Statements	9 Days	4-6 Months
Time to Implement a Single Control Implementation Statement	5 Minutes	1.12 Hours

The overall financial health supports these investments. For the second quarter of 2025, Telos Corporation delivered revenue of $36 million, a 26.2% year-over-year increase. The company achieved a positive adjusted EBITDA of $400,000 in Q2 2025, and generated Free Cash Flow of $4.6 million, representing a 12.9% margin for that quarter. As of September 30, 2025, the trailing 12-month revenue stood at $144.40M.

Here's a quick look at the key performance indicators supporting these value propositions:

• Q2 2025 Revenue: $36.0 million
• Security Solutions Revenue Share (Q2 2025): 90.3%
• Q2 2025 Adjusted EBITDA: $400,000
• Q2 2025 Free Cash Flow Margin: 12.9%
• TSA PreCheck Locations (as of Oct 2025): Surpassed 500
• TSA PreCheck Membership (Total): Over 23 million

Finance: draft 13-week cash view by Friday.

Telos Corporation (TLS) - Canvas Business Model: Customer Relationships

You're looking at how Telos Corporation (TLS) manages its diverse customer base, which is heavily weighted toward the U.S. Federal Government. Honestly, the relationship style shifts dramatically depending on whether you're talking about a mission-critical defense system or a traveler signing up for expedited screening.

Dedicated, high-touch relationship management for key federal contracts is the bedrock here. The Federal government accounts for more than 80% of Telos Corporation's total revenues. This means the relationship is deeply embedded, requiring dedicated teams to manage complex requirements. For instance, the Defense Manpower Data Center (DMDC) program is a significant revenue driver within the Security Solutions segment. New, specific wins, like the recent $2.2 million contract with an unnamed U.S. federal agency for the Xacta platform, require direct, high-touch support to deploy within a FedRAMP High environment.

This high-touch approach supports long-term, sticky contracts with the U.S. Defense and Intelligence Communities. The stickiness comes from deep integration into classified systems. A great example is the $3.7 million contract extension secured with the U.S. Air Force Intelligence Community for the Xacta platform, which automates compliance across top secret and secret networks. This type of renewal suggests high client satisfaction and significant switching costs. Furthermore, the company's opportunity pipeline, as of Q2 2025, shows over 200 unique deals representing an estimated contract value of more than $4 billion, indicating a strong focus on securing future long-term engagements.

In sharp contrast, the self-service and transactional model for consumer-facing services like TSA PreCheck is all about scale and convenience. This segment is growing rapidly, fueling the Security Solutions revenue which made up approximately 90% of total company revenue in Q2 2025. The customer relationship here is purely transactional: sign up, pay the fee, and get expedited service. The focus is on physical access points, not deep integration. The nationwide network expanded from just 26 locations in 2024 to 350 by June 2025, and by late October 2025, Telos Corporation announced it had surpassed 502 enrollment locations nationwide. The overall TSA PreCheck program has active membership exceeding 23 million members.

For commercial clients, the model leans toward partner-led sales and implementation support. This is evident in the TSA PreCheck expansion, where Telos Corporation partnered with major retailers like The ODP Corporation (Office Depot/OfficeMax) to accelerate rollout and reduce customer acquisition costs. While the federal segment dominates revenue, securing new commercial wins, such as a recent contract with a Fortune 100 technology company for Xacta, often involves leveraging these established channel relationships.

Finally, continuous security assurance and compliance support is a core relationship element, especially for government clients. This is embodied by the Xacta software platform, which recently achieved the FedRAMP High Authorization. This certification is a formal recognition that the platform meets the most stringent standards for protecting highly sensitive government data, which is a critical ongoing assurance requirement for their federal partners.

Here's a quick look at the scale of these customer relationships as of late 2025:

Customer/Program Focus	Metric Type	Value as of Late 2025
Federal/Defense Revenue Concentration	Percentage of Total Revenue	More than 80%
Security Solutions Revenue Contribution (Q2 2025)	Percentage of Total Revenue	Approximately 90%
Total Estimated Contract Value in Pipeline	Amount	More than $4 billion
TSA PreCheck Enrollment Locations	Count	502 sites
U.S. Air Force Contract Extension Value	Amount	$3.7 million
DMDC and DHS Programs (FY25 Revenue Estimate)	Range	$50 million to $75 million

The nature of these relationships is further defined by the specific deliverables that lock in the customer:

• The Xacta platform is used to automate cyber governance, risk, and compliance (GRC) requirements.
• The DMDC program ramp-up is a key driver of sequential revenue growth.
• The company resumed share repurchases in Q2 2025, deploying $4 million to buy back approximately 1.5 million shares.
• The Q2 2025 Security Solutions segment revenue grew 82% year-over-year.
• The company reported a current ratio of 2.65 and no outstanding debt as of June 30, 2025.

Finance: draft 13-week cash view by Friday.

Telos Corporation (TLS) - Canvas Business Model: Channels

You're looking at how Telos Corporation gets its solutions, especially the high-growth Security Solutions, into the hands of its customers as of late 2025. The numbers show a heavy reliance on large, secure government and enterprise channels.

The direct sales effort targets federal and large commercial enterprises, which is clearly working given the Q2 2025 revenue hit $36.0 million, with Security Solutions making up 90.3% of that, or $32.5 million. This segment saw 81.8% year-over-year growth in Q2 2025.

The Telos CyberProtect Partner Program structures how resellers, consultants, and integrators engage. The program defines specific tiers for channel engagement:

• Consulting: For professional services firms and consultancies.
• Security Resellers: For those reselling Telos offerings.
• Technology Alliance Partner: For integration partners.
• Elite partners: Share benefits with Premier partners but gain the ability to perform implementation services after technical certification.

The physical enrollment center model, which you mentioned, is a key channel for the TSA PreCheck program. As of August 2025, the network has expanded to 415 locations, up from 357 at the end of the second quarter of 2025. Management had targeted around 500 locations by year-end 2025. This rollout involved partnerships, such as with The ODP Corporation (ODP).

Government contracting vehicles are central to Telos Corporation's scale. The Defense Manpower Data Center (DMDC) program alone is forecasted to recognize between $50 million to $75 million in revenue for the full year 2025. Furthermore, the overall contract pipeline stands at over $4 billion. A recent example of securing business through these vehicles is the $2.2 million contract won with an unnamed U.S. federal agency for the Xacta platform.

Here's a quick look at the revenue scale driving these channel activities as of the latest reported figures:

Metric	Value (Late 2025)
Q2 2025 Total Revenue	$36.0 million
Security Solutions Revenue (Q2 2025)	$32.5 million
TSA PreCheck Enrollment Centers Open (Aug 2025)	415
DMDC Revenue Forecast (Full Year 2025)	$50 million to $75 million
Total Contract Pipeline	$4 billion+

The company's total revenue for the trailing twelve months (TTM) is reported at $144.40 million, with analysts projecting a full-year 2025 consensus of $158 million.

Telos Corporation (TLS) - Canvas Business Model: Customer Segments

You're looking at the core groups Telos Corporation (TLS) serves, which are heavily weighted toward the U.S. public sector and highly regulated entities. Honestly, the numbers show a clear pivot to Security Solutions, which made up about 90% of total revenue in Q2 2025, reaching $32.5 million that quarter.

U.S. Federal Government (DoD, Intelligence Community, Civilian Agencies)

This segment is the bedrock, with significant contract activity across the Department of Defense (DoD) and Intelligence Community (IC). For instance, Telos Corporation secured a $3.7 million option year contract extension with the U.S. Air Force Intelligence Community in June 2025, utilizing the Xacta platform for cyber governance, risk, and compliance (GRC) automation. Also, a contract with the Defense Information Systems Agency (DISA) for the Automated Message Handling System (AMHS) is valued at $14 million over five years, supporting entities including the DoD, IC, and non-DoD U.S. Government Agencies. Another specific DoD award for the Microwave Line of Sight (MLoS) program was for $5.8 million in April 2025. A larger, though completed, contract for Defensive Cyber Operations (DCO) Whitespace Bridge with Air Combat Command had a potential award value up to $64,235,350.

The full-year 2025 revenue outlook suggests that revenue from the DMDC and DHS programs is estimated to be between $50 million to $75 million. The existing business, excluding these major programs and TSA PreCheck, is expected to generate approximately $70 million for the full year 2025.

Regulated industries: Financial Services, Healthcare, Critical Infrastructure

While the government focus is clear, Telos Corporation also caters to large commercial and regulated entities needing stringent security. The company reported robust performance in its cybersecurity and cloud security segments, driven by increased demand from both commercial and government clients in Q3 2025. The Xacta platform is used by large commercial enterprises for cyber risk and compliance management. The company is committed to expanding its consumer base, particularly in highly regulated sectors where security is paramount.

Defense Manpower Data Center (DMDC) and Department of Homeland Security (DHS) programs

These two programs are major growth drivers. The DMDC program alone is worth up to $485 million to Telos Corporation over five years, and the DHS program is worth up to $40 million over five years. The DMDC program scaling contributed to an 81.8% growth in Security Solutions revenue in Q2 2025. The company is executing on these long-term programs, which are central to its Security Solutions segment growth.

General public consumers enrolling in trusted traveler programs like TSA PreCheck

The TSA PreCheck enrollment network is expanding aggressively. As of Q2 2025, Telos Corporation had 415 enrollment locations open, up from 56 at the end of Q2 2024. The goal is to reach 500 enrollment locations in 2025. This program is now cited as a $70 million annual revenue driver. The rollout acceleration was aided by partnerships, such as with The ODP Corporation.

Large enterprises requiring complex cyber governance, risk, and compliance (GRC)

This group utilizes the Xacta software for automated cyber risk and compliance management across cloud, on-premises, and hybrid environments. The company has reported securing new and renewed orders for Xacta and cyber services from a Fortune 100 technology company, alongside federal agency wins. The overall business pipeline of opportunities for Telos Corporation is valued at around $4.1 billion.

Here's a quick look at the financial contribution from the key government-related programs as estimated for the full year 2025:

Customer/Program Group	Estimated Full-Year 2025 Revenue Range	Program Contract Value (If Applicable)
Existing Business (Excl. TSA/DMDC/DHS)	Approximately $70 million	N/A
DMDC and DHS Programs	$50 million to $75 million	DMDC up to $485 million (5-year); DHS up to $40 million (5-year)
TSA PreCheck Enrollment	Included in the $70 million existing business estimate, cited as a $70 million annual driver	N/A

The Security Solutions segment, which houses most of these government and enterprise GRC services, constituted 84% of total company revenue in Q1 2025, up from 63% in Q1 2024. The company has no debt, holding $58 million in cash and equivalents at the end of Q1 2025, providing flexibility. Defintely, this cash position helps fund the expansion efforts listed above.

Key customer engagements and associated contract values include:

• U.S. Air Force Intelligence Community (Xacta): $3.7 million option year.
• DISA Organizational Messaging Service (AMHS): $14 million over five years.
• DoD Microwave Line of Sight (MLoS) Program: $5.8 million contract.
• Total Business Pipeline Value: Approximately $4.1 billion.

Telos Corporation (TLS) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Telos Corporation (TLS) engine, and honestly, it's a story of two segments pulling in different directions, plus heavy investment in future growth drivers. The cost structure is heavily influenced by the nature of their government contracting work and their aggressive expansion into new, high-volume services.

The High cost of revenue for the Secure Networks segment is a clear pressure point. This segment, which was 29% of total revenues for the year ended December 31, 2024, is seeing a significant downturn. For the second quarter of 2025, the Secure Networks revenue declined sharply. Looking ahead to the full year 2025, management expects this segment's revenue to contract low 70% to mid 60% year-over-year. This contraction in a segment that historically involved significant contracting costs means the overall cost of revenue is being managed by a strategic shift.

That shift is toward the Security Solutions segment, which is driving growth but comes with its own set of overheads. You see the cost of specialized talent reflected in the operating expenses. While we don't have a line item just for 'highly-cleared engineers,' the pressure on personnel costs is evident in the widening operating losses driven by increased Selling, General, and Administrative (SG&A) expenses. For instance, the six-month stock-based compensation expense in the first half of 2025 hit $14.805 million, a substantial jump from $5.203 million in the prior year period. That's a direct cost tied to retaining the specialized workforce needed for these sensitive contracts.

Next up, the scaling costs for the physical TSA PreCheck enrollment network are a major near-term cash outlay. Telos Corporation is pushing hard to reach a goal of 500 enrollment locations by the end of 2025. They hit 350 locations across 38 states by June 2025 and were reportedly at 492 nationwide by October 2025. While the program is expected to generate between $50 million-$75 million in revenue for 2025, the upfront investment strains cash flow. The company reported positive free cash flow of $4.6 million in Q2 2025, totaling $8.4 million for the first half of 2025. This cash generation is critical to funding the physical build-out.

You must factor in the Research and Development (R&D) investment in new AI capabilities like Xacta.ai. This is a future-proofing cost. R&D Expenses for the first quarter of 2025 alone were reported at $14.2 million. The October 2025 launch of Xacta.ai, which can reduce compliance task timelines from months to just nine days, shows where that investment is going-automating high-value, complex work. This R&D spend is essential to maintaining the competitive edge of their Security Solutions segment, which accounted for approximately 90% of total company revenue in Q2 2025.

Finally, the push to win new business drives the Sales and Marketing expenses. Telos Corporation is actively pursuing a massive opportunity set. The current pipeline stands at over 200 unique opportunities, representing an estimated contract value of over $4 billion. To support this pursuit, advertising expense was $0.8 million for the full year 2023, and the increase in SG&A, which includes sales and marketing, is a necessary cost of capturing these large federal awards, which management expects to be weighted towards the fourth quarter of 2025 and the first quarter of 2026.

Here's a quick look at some of the key financial metrics influencing these cost decisions:

Cost/Expense Driver	Relevant Financial Data Point	Period/Context
Secure Networks Cost Impact	Expected 60% to 70% YoY Revenue Contraction	Full Year 2025 Outlook
Personnel/Talent Cost Proxy	Stock-Based Compensation Expense of $14.805 million	First Half of 2025
TSA PreCheck Scaling Investment	Target of 500 Enrollment Locations	End of 2025
AI/R&D Investment	R&D Expenses of $14.2 million	Q1 2025
Sales & Marketing Context	Pipeline Value of over $4 billion	As of Q2/Q3 2025

Finance: draft 13-week cash view by Friday.

Telos Corporation (TLS) - Canvas Business Model: Revenue Streams

You're looking at the engine driving Telos Corporation's current financial picture, focusing on where the money actually comes from as we approach the end of 2025. It's a story heavily weighted toward government security work right now.

The Security Solutions segment is the dominant revenue generator. For the second quarter of 2025, this segment delivered $32.5 million, which accounted for 90.3% of the total Q2 2025 revenue of $36.0 million. This trend is expected to continue, with guidance suggesting Security Solutions will generate approximately 90% of total company revenue in the third quarter of 2025.

The full-year 2025 revenue guidance reflects this concentrated focus, projected to land between $162.0 million and $164.3 million. To give you a sense of the acceleration, Q3 2025 revenue hit $51.4 million, a staggering 116% year-over-year increase, with Telos ID driving that outperformance.

Here's a quick look at the key revenue drivers and their reported figures:

Revenue Stream Component	Key Metric/Figure	Context/Period
Security Solutions Percentage	90.3%	Q2 2025 Total Revenue
Full-Year 2025 Revenue Guidance	$162.0 million to $164.3 million	Full Year 2025
Q3 2025 Revenue	$51.4 million	Q3 2025
Q3 2025 Adjusted EBITDA	$10.1 million	Q3 2025

Transactional fees from identity services, primarily TSA PreCheck enrollment, are a major component of the Security Solutions revenue. The network has expanded aggressively; as of Q2 2025, there were 415 enrollment locations open, up from 56 at the end of Q2 2024. Management is targeting around 500 enrollment locations by the end of 2025. This program was noted as a $70 million annual revenue driver as of Q1 2025.

Program-based revenue from large federal government contracts, specifically the Defense Manpower Data Center (DMDC) program, is another critical stream. Forecasts for 2025 put the DMDC contribution between $50 million to $75 million in revenues. Some earlier estimates suggested a conservative annual revenue expectation of $60 million to $85 million from the combined DMDC and DHS programs by 2025.

For Software-as-a-Service (SaaS) and subscription licensing, the focus is on the Xacta platform. While specific subscription revenue amounts aren't broken out separately from the Security Solutions segment, the platform's strategic importance is clear. Telos launched Xacta.ai in Q3 2025, following the achievement of FedRAMP High Authorization for the Xacta platform.

The revenue mix is shifting, which impacts margins. For instance, Q2 2025 Cash Gross Margin was 38.4%, but by Q3 2025, it improved to 44.8%.

You should keep an eye on these key operational metrics that feed the revenue:

• TSA PreCheck locations grew from 56 (end of Q2 2024) to 357 (end of Q2 2025).
• The target for TSA PreCheck locations is 500 by year-end 2025.
• The DMDC program is forecasted to contribute $50m to $75m in 2025 revenue.
• Q2 2025 Free Cash Flow Margin was 12.9% of Revenue.

Finance: draft 13-week cash view by Friday.