Telos Corporation (TLS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo de alto riesgo de la ciberseguridad, Telo Corporation emerge como un tutor formidable, transformando los complejos desafíos de defensa digital en soluciones estratégicas para los clientes gubernamentales y empresariales. Al ser pioneros en las arquitecturas de confianza cero avanzadas y aprovechar una profunda experiencia en tecnología de información segura, Telos se ha posicionado como un socio crítico en la protección de la infraestructura nacional y las redes corporativas contra las amenazas cibernéticas evolucionadas. Su lienzo de modelo de negocio integral revela un enfoque sofisticado para ofrecer servicios de ciberseguridad de vanguardia que van mucho más allá de los paradigmas de protección tradicionales.

Telos Corporation (TLS) - Modelo de negocios: asociaciones clave

Contratos de ciberseguridad y tecnología de la información del gobierno de los Estados Unidos

Telos Corporation posee múltiples contratos federales activos con un valor total estimado de $ 245.6 millones a partir de 2024. Las áreas clave del contrato incluyen:

Tipo de contrato	Valor estimado	Duración
Ciberseguridad del Departamento de Defensa	$ 87.3 millones	Plazo de 3 años
Modernización federal de seguridad de la información	$ 62.5 millones	Término de 2 años
Soluciones de TI de la comunidad de inteligencia	$ 95.8 millones	Plazo de 4 años

Colaboraciones de la agencia de defensa e inteligencia

Telos mantiene asociaciones estratégicas con múltiples agencias de defensa e inteligencia:

• Comando cibernético de EE. UU.
• Agencia de Seguridad Nacional (NSA)
• Agencia de Sistemas de Información de Defensa (Disa)
• Dirección de Tecnología de la Información de la Agencia Central de Inteligencia (CIA)

Socios tecnológicos

Las asociaciones de tecnología de la nube y de seguridad incluyen:

Pareja	Enfoque de asociación	Valor de colaboración
Servicios web de Amazon	Soluciones de seguridad en la nube	$ 42.7 millones
Microsoft Azure	Infraestructura de nube gubernamental segura	$ 35.2 millones
Palo Alto Networks	Integración de tecnología de ciberseguridad	$ 28.6 millones

Alianzas estratégicas con integradores de sistemas federales

Telos colabora con los principales integradores de sistemas federales:

• Booz Allen Hamilton
• Saic
• Leidos
• Mantech International

Proveedores de software y hardware de ciberseguridad

Las asociaciones de proveedores abarcan:

Proveedor	Segmento tecnológico	Ingresos de la asociación
Crowdstrike	Seguridad de punto final	$ 22.4 millones
Flojo	Información de seguridad y gestión de eventos	$ 18.9 millones
Sistemas de Cisco	Infraestructura de seguridad de red	$ 33.5 millones

Telos Corporation (TLS) - Modelo de negocio: actividades clave

Desarrollo de soluciones seguras de tecnología de información empresarial

Telos Corporation se centra en crear soluciones de TI de empresa avanzada con capacidades tecnológicas específicas:

Categoría de tecnología	Inversión anual	Enfoque de desarrollo
Software empresarial	$ 14.2 millones	Plataformas de seguridad basadas en la nube
Infraestructura de ciberseguridad	$ 9.7 millones	Sistemas avanzados de detección de amenazas

Proporcionar servicios de ciberseguridad y gestión de riesgos

Las ofertas de servicios de ciberseguridad incluyen:

• Evaluaciones de seguridad integrales
• Monitoreo de inteligencia de amenazas
• Planificación de respuesta a incidentes

Categoría de servicio	Ingresos anuales	Segmentos de cliente
Servicios de ciberseguridad	$ 87.3 millones	Federal, Comercial, Defensa

Diseño de plataformas avanzadas de gestión de identidad y acceso

Capacidades tecnológicas clave:

• Sistemas de autenticación multifactor
• Tecnologías de verificación biométrica
• Controles de acceso a la confianza cero

Tipo de plataforma	Gasto de desarrollo	Alcance de implementación
Gestión de identidad	$ 6.5 millones	Clientes gubernamentales y empresariales

Implementación de arquitecturas de seguridad de fideicomiso cero

Las estrategias de implementación de cero confianza implican:

• Protocolos de autenticación continua
• Técnicas de micro segmentación
• Detección de amenazas en tiempo real

Apoyo a las iniciativas de transformación digital del gobierno federal

Sector gubernamental	Valor de contrato	Enfoque tecnológico
Ciberseguridad federal	$ 129.6 millones	Infraestructura digital segura

Telos Corporation (TLS) - Modelo de negocio: recursos clave

Plataformas de tecnología y software de ciberseguridad patentada

Telos Corporation mantiene una cartera integral de tecnología de ciberseguridad con los siguientes activos tecnológicos clave:

Plataforma tecnológica	Capacidades específicas
Xacta	Plataforma de automatización de gestión de riesgos y cumplimiento
Segmentación de Guardicore	Solución de seguridad de microsegmentación y cero fideicomiso

Ciberseguridad experimentada y fuerza laboral profesional de TI

Composición de la fuerza laboral a partir del cuarto trimestre 2023:

Categoría de empleado	Número de empleados
Total de empleados	1,394
Profesionales de ciberseguridad	~ 65% de la fuerza laboral

Portafolio de contrato de gobierno federal fuerte

Detalles del contrato del gobierno:

• Valor total del contrato federal en 2023: $ 328.4 millones
• Porcentaje de ingresos de contratos federales: 82%
• Clientes clave de la agencia federal: Departamento de Defensa, Comunidad de Inteligencia

Capacidades avanzadas de investigación y desarrollo

I + D Métricas de inversión:

I + D Métrica	Valor 2023
Gasto de I + D	$ 42.1 millones
I + D como porcentaje de ingresos	12.3%

Patentes robustas de propiedad intelectual y tecnología

Cartera de propiedades intelectuales:

• Patentes activas totales: 37
• Categorías de patentes: ciberseguridad, seguridad en la nube, gestión de identidad
• Solicitudes de patentes pendientes: 12

Telos Corporation (TLS) - Modelo de negocio: propuestas de valor

Soluciones integrales de seguridad cibernética empresarial

Telos Corporation ofrece soluciones de ciberseguridad de extremo a extremo con las siguientes métricas clave:

Categoría de soluciones	Ingresos anuales	Penetración del mercado
Plataforma de seguridad empresarial	$ 87.3 millones	42% de los clientes Fortune 500
Servicios de seguridad en la nube	$ 53.6 millones	36 implementaciones de nivel empresarial

Experiencia especializada en el gobierno y del sector de defensa

Telos ofrece servicios especializados de ciberseguridad a las agencias gubernamentales:

• Valor del Contrato del Departamento de Defensa: $ 124.7 millones
• Soluciones de seguridad de la agencia civil federal: $ 67.2 millones
• Contratos de ciberseguridad comunitaria de inteligencia: $ 41.5 millones

Tecnologías avanzadas de seguridad de fideicomiso cero

Tecnología	Inversión anual	Solicitudes de patentes
Arquitectura de confianza cero	$ 22.4 millones	7 patentes pendientes
Sistemas de verificación de identidad	$ 15.9 millones	4 patentes concedidas

Servicios seguros de transformación digital

Las ofertas de transformación digital incluyen:

• Servicios de modernización digital: ingresos de $ 43.6 millones
• Soluciones de migración en la nube: 28 implementaciones empresariales principales
• Cumplimiento y gestión de riesgos: $ 31.2 millones en contratos anuales

Plataformas innovadoras de gestión de identidad y acceso

Plataforma	Ingresos anuales	Base de usuarios
Gestión de identidad de XACTA	$ 39.7 millones	127 clientes gubernamentales/empresariales
Sistemas de control de acceso seguro	$ 26.3 millones	94 entornos implementados

Telos Corporation (TLS) - Modelo de negocios: relaciones con los clientes

Asociaciones por contrato gubernamental a largo plazo

A partir del cuarto trimestre de 2023, Telo Corporation mantiene 87 contratos gubernamentales activos a través de niveles federales, estatales y locales. El valor total del contrato para estas asociaciones es de $ 456.3 millones.

Tipo de contrato	Número de contratos	Valor total del contrato
Gobierno federal	42	$ 276.5 millones
Gobierno estatal	29	$ 112.8 millones
Gobierno local	16	$ 67 millones

Equipos de gestión de cuentas dedicados

Telo Corporation emplea 124 gerentes de cuentas dedicados Sirviendo a los clientes empresariales y gubernamentales. La tasa promedio de retención del cliente es del 93.4%.

• El administrador de cuentas promedio maneja 7-9 clientes clave
• Clasificación trimestral de satisfacción del cliente: 4.7/5
• Proceso de revisión de cuentas anual para cada cliente

Soporte técnico y servicios de consultoría

La infraestructura de soporte técnico incluye 247 personal de apoyo especializado. El tiempo de respuesta promedio para problemas críticos es de 17 minutos.

Canal de soporte	Tiempo de respuesta promedio	Volumen de soporte anual
Soporte telefónico	12 minutos	34,562 llamadas
Soporte por correo electrónico	24 minutos	46,789 boletos
Chat en vivo	9 minutos	21,345 interacciones

Capacitación y educación de ciberseguridad en curso

Ofertas de telos Programas integrales de capacitación en ciberseguridad. En 2023, 4.672 profesionales completaron cursos de certificación.

• 12 módulos de entrenamiento diferentes disponibles
• Duración promedio de entrenamiento: 40 horas
• Opciones de capacitación en línea y en persona

Desarrollo de soluciones de seguridad personalizadas

El desarrollo de la solución de seguridad personalizada representa 42% de los ingresos anuales de Telo Corporation. En 2023, se desarrollaron 89 soluciones de seguridad únicas para los clientes.

Categoría de soluciones	Número de soluciones	Tiempo de desarrollo promedio
Seguridad empresarial	42	3-4 meses
Seguridad del gobierno	37	5-6 meses
Infraestructura crítica	10	6-8 meses

Telos Corporation (TLS) - Modelo de negocios: canales

Ventas directas de contratos gubernamentales

Telos Corporation generó $ 234.7 millones en ingresos del gobierno federal en el tercer trimestre de 2023. Las ventas directas a las agencias gubernamentales representaron el 62% de los ingresos totales de la compañía.

Sector gubernamental	Valor de contrato	Porcentaje de ventas directas
Ministerio de defensa	$ 89.3 millones	38%
Seguridad Nacional	$ 67.5 millones	29%
Comunidad de inteligencia	$ 45.2 millones	19%

Socios de integración de sistemas federales

Telos colabora con 17 socios de integración de sistemas Prime para contratos federales.

• Booz Allen Hamilton
• Saic
• Leidos
• Mantech International
• Caci internacional

Marketing digital y sitio web corporativo

El sitio web de Telos Corporation recibe 127,000 visitantes mensuales únicos. El presupuesto de marketing digital para 2023 fue de $ 3.2 millones.

Conferencias de la industria y eventos de ciberseguridad

Telos participó en 22 conferencias de la industria en 2023, generando $ 18.6 millones en posibles clientes potenciales.

Tipo de conferencia	Número de eventos	Valor de plomo potencial
Conferencias de ciberseguridad	12	$ 11.4 millones
Eventos tecnológicos gubernamentales	7	$ 5.2 millones
Cumbres de seguridad en la nube	3	$ 2 millones

Red de socios tecnológicos

Telos mantiene asociaciones con 43 proveedores de tecnología, que representan $ 52.3 millones en ingresos colaborativos para 2023.

• Servicios web de Amazon
• Microsoft Azure
• Palo Alto Networks
• Crowdstrike
• Flojo

Telos Corporation (TLS) - Modelo de negocios: segmentos de clientes

Agencias del gobierno federal estadounidense

Telos Corporation atiende a múltiples agencias federales con ciberseguridad y soluciones en la nube.

Tipo de agencia	Valor anual del contrato	Número de contratos activos
Ministerio de defensa	$ 42.3 millones	17 contratos activos
Departamento de Seguridad Nacional	$ 35.7 millones	12 contratos activos

Organizaciones de defensa e inteligencia

Soluciones de ciberseguridad especializadas para entidades de seguridad nacional.

• Clientes de la comunidad de inteligencia: 8 organizaciones principales
• Ingresos anuales del sector de defensa: $ 127.6 millones
• Portafolio de contrato clasificado: 22 acuerdos activos

Proveedores de infraestructura crítica

Sector de infraestructura	Valor total del contrato	Número de clientes
Energía	$ 18.5 millones	6 principales compañías de servicios públicos
Telecomunicaciones	$ 22.3 millones	4 proveedores nacionales

Grandes corporaciones empresariales

Servicios empresariales de ciberseguridad y migración en la nube.

• Fortune 500 Clientes: 37 clientes activos
• Valor promedio del contrato: $ 3.2 millones por empresa
• Ingresos totales del segmento empresarial: $ 118.4 millones

Entidades del gobierno estatal y local

Nivel gubernamental	Valor total del contrato	Número de clientes
Gobierno estatal	$ 27.6 millones	14 administraciones estatales
Gobierno local	$ 15.3 millones	42 Entidades municipales

Telos Corporation (TLS) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, Telos Corporation invirtió $ 37.8 millones en investigación y desarrollo, lo que representa el 14.2% de los ingresos totales.

Año fiscal	Inversión de I + D	Porcentaje de ingresos
2023	$ 37.8 millones	14.2%

Gastos de cumplimiento del contrato del gobierno

Los costos relacionados con el cumplimiento para los contratos gubernamentales en 2023 totalizaron $ 12.5 millones, incluidos:

• Cumplimiento de ciberseguridad: $ 5,2 millones
• Documentación regulatoria: $ 3.7 millones
• Procesos de auditoría y verificación: $ 3.6 millones

Salarios de empleados y capacitación técnica

Categoría de costos	Gasto anual
Salarios totales de los empleados	$ 156.4 millones
Programas de capacitación técnica	$ 4.6 millones

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica para 2023 fueron de $ 22.3 millones, desglosados ​​de la siguiente manera:

• Infraestructura en la nube: $ 9.7 millones
• Sistemas de seguridad de red: $ 6.5 millones
• Actualizaciones de hardware y software: $ 6.1 millones

Costos de marketing y desarrollo empresarial

Categoría de gastos de marketing	Presupuesto anual
Marketing digital	$ 5.6 millones
Ferias y conferencias	$ 2.3 millones
Iniciativas de desarrollo empresarial	$ 4.1 millones

Estructura de costos totales para 2023: $ 233.5 millones

Telos Corporation (TLS) - Modelo de negocios: flujos de ingresos

Contratos de ciberseguridad del gobierno federal

Q4 2023 Ingresos federales del contrato: $ 87.3 millones

Tipo de contrato	Valor anual	Duración del contrato
Ciberseguridad del Departamento de Defensa	$ 45.2 millones	3 años
Seguridad comunitaria de inteligencia	$ 32.6 millones	2 años

Suscripciones de solución de seguridad empresarial

2023 Ingresos recurrentes anuales de suscripciones empresariales: $ 62.4 millones

• Suscripción de protección de punto final: $ 24.1 millones
• Suscripción de seguridad en la nube: $ 18.7 millones
• Suscripción de seguridad de red: $ 19.6 millones

Servicios de consultoría profesional

2023 Ingresos de servicios profesionales: $ 41.9 millones

Servicio de consultoría	Ganancia
Evaluación de ciberseguridad	$ 15.3 millones
Consultoría de gestión de riesgos	$ 12.6 millones
Aviso	$ 14 millones

Proyectos de implementación de tecnología

2023 Ingresos de implementación de tecnología: $ 53.7 millones

• Implementación de arquitectura de fideicomiso cero: $ 22.5 millones
• Actualización de infraestructura de seguridad: $ 18.2 millones
• Proyectos de seguridad de migración en la nube: $ 13 millones

Servicios de seguridad administrados en curso

2023 Ingresos de servicios de seguridad administrados: $ 76.5 millones

Categoría de servicio	Ingresos anuales
Monitoreo de seguridad 24/7	$ 32.8 millones
Retenedor de respuesta a incidentes	$ 23.7 millones
Detección de amenazas continuas	$ 20 millones

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.