Telos Corporation (TLS): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde des enjeux élevés de la cybersécurité, Telos Corporation apparaît comme un formidable gardien, transformant des défis complexes de défense numérique en solutions stratégiques pour les clients gouvernementaux et d'entreprises. En pionnier des architectures avancées de confiance zéro et en tirant parti de l'expertise approfondie dans les technologies de l'information sécurisées, Telos s'est positionné comme un partenaire critique pour protéger les infrastructures nationales et les réseaux d'entreprise contre l'évolution des cyber-menaces. Leur toile complète du modèle commercial révèle une approche sophistiquée pour fournir des services de cybersécurité de pointe qui vont bien au-delà des paradigmes de protection traditionnels.

Telos Corporation (TLS) - Modèle d'entreprise: partenariats clés

Contrats de cybersécurité et de technologie de l'information du gouvernement américain

Telos Corporation détient plusieurs contrats fédéraux actifs avec une valeur totale estimée à 245,6 millions de dollars en 2024. Les principales zones de contrat comprennent:

Type de contrat	Valeur estimée	Durée
Département de la cybersécurité de la défense	87,3 millions de dollars	Trimestre de 3 ans
Modernisation fédérale de la sécurité de l'information	62,5 millions de dollars	Mandat de 2 ans
Solutions informatiques de la communauté du renseignement	95,8 millions de dollars	Trimestre de 4 ans

Collaborations de la défense et de l'agence de renseignement

Telos maintient des partenariats stratégiques avec plusieurs agences de défense et de renseignement:

• Cyber ​​Command
• Agence de sécurité nationale (NSA)
• Agence des systèmes d'information de la défense (DISA)
• Direction des technologies de l'information de l'Agence centrale de renseignement (CIA)

Partenaires technologiques

Les partenariats sur les technologies du cloud et de la sécurité comprennent:

Partenaire	Focus de partenariat	Valeur de collaboration
Services Web Amazon	Solutions de sécurité cloud	42,7 millions de dollars
Microsoft Azure	Sécuriser les infrastructures du cloud gouvernemental	35,2 millions de dollars
Réseaux palo alto	Intégration de la technologie de la cybersécurité	28,6 millions de dollars

Alliances stratégiques avec des intégrateurs de systèmes fédéraux

Telos collabore avec les principaux intégrateurs du système fédéral:

• Booz Allen Hamilton
• Saic
• Leidos
• Mantech International

Logiciels de cybersécurité et fournisseurs de matériel

Les partenariats des vendeurs englobent:

Fournisseur	Segment technologique	Revenus de partenariat
Cowsterrike	Sécurité des points finaux	22,4 millions de dollars
Sabot	Informations de sécurité et gestion d'événements	18,9 millions de dollars
Systèmes Cisco	Infrastructure de sécurité du réseau	33,5 millions de dollars

Telos Corporation (TLS) - Modèle d'entreprise: activités clés

Développer des solutions de technologie de l'information en entreprise sécurisée

Telos Corporation se concentre sur la création de solutions informatiques en entreprise avancées avec des capacités technologiques spécifiques:

Catégorie de technologie	Investissement annuel	Focus de développement
Logiciel d'entreprise	14,2 millions de dollars	Plates-formes de sécurité basées sur le cloud
Infrastructure de cybersécurité	9,7 millions de dollars	Systèmes de détection de menaces avancées

Fournir des services de cybersécurité et une gestion des risques

Les offres de services de cybersécurité comprennent:

• Évaluations complètes de la sécurité
• Surveillance des renseignements sur les menaces
• Planification de la réponse aux incidents

Catégorie de service	Revenus annuels	Segments du client
Services de cybersécurité	87,3 millions de dollars	FÉDÉRAL, COMMERCIAL, DEFENSE

Concevoir des plateformes avancées d'identité et de gestion d'accès

Capacités technologiques clés:

• Systèmes d'authentification multi-facteurs
• Technologies de vérification biométrique
• Contrôles d'accès zéro-frust

Type de plate-forme	Dépenses de développement	Portée de la mise en œuvre
Gestion de l'identité	6,5 millions de dollars	Clients gouvernementaux et d'entreprise

Implémentation des architectures de sécurité Zero Trust

Les stratégies de mise en œuvre de la confiance zéro impliquent:

• Protocoles d'authentification continue
• Techniques de micro-segmentation
• Détection de menace en temps réel

Soutenir les initiatives de transformation numérique du gouvernement fédéral

Secteur du gouvernement	Valeur du contrat	Focus technologique
Cybersécurité fédérale	129,6 millions de dollars	Infrastructure numérique sécurisée

Telos Corporation (TLS) - Modèle d'entreprise: Ressources clés

Logiciels et plateformes technologiques de cybersécurité propriétaires

Telos Corporation maintient un portefeuille complet de technologies de cybersécurité avec les principaux actifs technologiques suivants:

Plate-forme technologique	Capacités spécifiques
Xacta	Plateforme de gestion des risques et d'automatisation de la conformité
Segmentation du Guardicore	Micro -gegmentation et solution de sécurité de confiance zéro

Cybersécurité expérimentée et main-d'œuvre professionnelle informatique

Composition de la main-d'œuvre depuis le quatrième trimestre 2023:

Catégorie des employés	Nombre d'employés
Total des employés	1,394
Professionnels de la cybersécurité	~ 65% de la main-d'œuvre

Portefeuille de contrats du gouvernement fédéral fort

Détails du contrat du gouvernement:

• Valeur du contrat fédéral total en 2023: 328,4 millions de dollars
• Pourcentage de revenus des contrats fédéraux: 82%
• Clients clés de l'agence fédérale: Département de la défense, communauté du renseignement

Capacités avancées de recherche et de développement

Métriques d'investissement en R&D:

Métrique de R&D	Valeur 2023
Dépenses de R&D	42,1 millions de dollars
R&D en pourcentage de revenus	12.3%

Des brevets de propriété intellectuelle robuste et technologique

Portfolio de propriété intellectuelle:

• Brevets actifs totaux: 37
• Catégories de brevets: cybersécurité, sécurité du cloud, gestion de l'identité
• Demandes de brevet en attente: 12

Telos Corporation (TLS) - Modèle d'entreprise: propositions de valeur

Solutions complètes de cybersécurité d'entreprise

Telos Corporation fournit des solutions de cybersécurité de bout en bout avec les mesures clés suivantes:

Catégorie de solution	Revenus annuels	Pénétration du marché
Plateforme de sécurité d'entreprise	87,3 millions de dollars	42% des clients du Fortune 500
Services de sécurité cloud	53,6 millions de dollars	36 déploiements de niveau d'entreprise

Expertise spécialisée du gouvernement et du secteur de la défense

Telos fournit des services de cybersécurité spécialisés aux agences gouvernementales:

• Valeur du contrat du ministère de la Défense: 124,7 millions de dollars
• Solutions de sécurité des agences civiles fédérales: 67,2 millions de dollars
• Contrats de cybersécurité de la communauté du renseignement: 41,5 millions de dollars

Technologies avancées de sécurité de confiance zéro

Technologie	Investissement annuel	Demandes de brevet
Architecture de confiance zéro	22,4 millions de dollars	7 brevets en instance
Systèmes de vérification d'identité	15,9 millions de dollars	4 brevets accordés

Services de transformation numérique sécurisés

Les offres de transformation numérique comprennent:

• Services de modernisation numérique: 43,6 millions de dollars de revenus
• Solutions de migration en cloud: 28 Implémentations de l'entreprise majeures
• Compliance et gestion des risques: 31,2 millions de dollars en contrats annuels

Plateformes innovantes d'identité et de gestion de l'accès

Plate-forme	Revenus annuels	Base d'utilisateurs
Gestion de l'identité Xacta	39,7 millions de dollars	127 Clients du gouvernement / d'entreprise
Systèmes de contrôle d'accès sécurisé	26,3 millions de dollars	94 environnements implémentés

Telos Corporation (TLS) - Modèle d'entreprise: relations clients

Partenariats contractuels du gouvernement à long terme

Depuis le quatrième trimestre 2023, Telos Corporation maintient 87 Contrats gouvernementaux actifs Aux niveaux fédéral, étatique et local. La valeur totale du contrat pour ces partenariats est de 456,3 millions de dollars.

Type de contrat	Nombre de contrats	Valeur totale du contrat
Gouvernement fédéral	42	276,5 millions de dollars
Gouvernement de l'État	29	112,8 millions de dollars
Gouvernement local	16	67 millions de dollars

Équipes de gestion des comptes dédiés

Telos Corporation emploie 124 gestionnaires de comptes dédiés desservant les entreprises et les clients gouvernementaux. Le taux moyen de rétention des clients est de 93,4%.

• Le gestionnaire de compte moyen gère 7 à 9 clients clés
• Évaluation de satisfaction trimestrielle du client: 4.7 / 5
• Processus d'examen du compte annuel pour chaque client

Services de support technique et de conseil

L'infrastructure de support technique comprend 247 Personnel de soutien spécialisé. Le temps de réponse moyen pour les problèmes critiques est de 17 minutes.

Canal de support	Temps de réponse moyen	Volume de soutien annuel
Support téléphonique	12 minutes	34 562 appels
Assistance par e-mail	24 minutes	46 789 billets
Chat en direct	9 minutes	21 345 interactions

Formation et éducation en cours de cybersécurité

Telos Offres Programmes de formation complète de la cybersécurité. En 2023, 4 672 professionnels ont suivi des cours de certification.

• 12 modules de formation différents disponibles
• Durée de formation moyenne: 40 heures
• Options de formation en ligne et en personne

Développement de solutions de sécurité personnalisées

Le développement de la solution de sécurité personnalisée représente 42% des revenus annuels de Telos Corporation. En 2023, 89 solutions de sécurité uniques ont été développées pour les clients.

Catégorie de solution	Nombre de solutions	Temps de développement moyen
Sécurité de l'entreprise	42	3-4 mois
Sécurité du gouvernement	37	5-6 mois
Infrastructure critique	10	6-8 mois

Telos Corporation (TLS) - Modèle d'entreprise: canaux

Ventes de contrats gouvernementaux directs

Telos Corporation a généré 234,7 millions de dollars de recettes gouvernementales fédérales au troisième trimestre 2023. Les ventes directes vers les agences gouvernementales représentaient 62% du total des revenus de l'entreprise.

Secteur du gouvernement	Valeur du contrat	Pourcentage de ventes directes
Ministère de la Défense	89,3 millions de dollars	38%
Sécurité intérieure	67,5 millions de dollars	29%
Communauté du renseignement	45,2 millions de dollars	19%

Partenaires d'intégration des systèmes fédéraux

Telos collabore avec 17 partenaires d'intégration des systèmes Prime pour les contrats fédéraux.

• Booz Allen Hamilton
• Saic
• Leidos
• Mantech International
• CACI International

Marketing numérique et site Web d'entreprise

Le site Web de Telos Corporation reçoit 127 000 visiteurs mensuels uniques. Le budget du marketing numérique pour 2023 était de 3,2 millions de dollars.

Conférences de l'industrie et événements de cybersécurité

Telos a participé à 22 conférences de l'industrie en 2023, générant 18,6 millions de dollars en prospects potentiels.

Type de conférence	Nombre d'événements	Valeur de plomb potentielle
Conférences de cybersécurité	12	11,4 millions de dollars
Événements technologiques gouvernementaux	7	5,2 millions de dollars
Sommets de sécurité du cloud	3	2 millions de dollars

Réseau de partenaires technologiques

Telos maintient des partenariats avec 43 fournisseurs technologiques, représentant 52,3 millions de dollars de revenus collaboratifs pour 2023.

• Services Web Amazon
• Microsoft Azure
• Réseaux palo alto
• Cowsterrike
• Sabot

Telos Corporation (TLS) - Modèle d'entreprise: segments de clientèle

Agences gouvernementales fédérales américaines

Telos Corporation dessert plusieurs agences fédérales avec des solutions de cybersécurité et de cloud.

Type d'agence	Valeur du contrat annuel	Nombre de contrats actifs
Ministère de la Défense	42,3 millions de dollars	17 contrats actifs
Département de sécurité intérieure	35,7 millions de dollars	12 contrats actifs

Organisations de défense et de renseignement

Solutions spécialisées de cybersécurité pour les entités de sécurité nationale.

• Clients de la communauté du renseignement: 8 organisations grandes
• Revenus annuels du secteur de la défense: 127,6 millions de dollars
• Portefeuille de contrats classifiés: 22 accords actifs

Fournisseurs d'infrastructures critiques

Secteur des infrastructures	Valeur totale du contrat	Nombre de clients
Énergie	18,5 millions de dollars	6 grandes entreprises de services publics
Télécommunications	22,3 millions de dollars	4 fournisseurs nationaux

Grandes entreprises d'entreprise

Services de cybersécurité et de migration du cloud d'entreprise.

• Clients Fortune 500: 37 clients actifs
• Valeur du contrat moyen: 3,2 millions de dollars par entreprise
• Revenu total des segments d'entreprise: 118,4 millions de dollars

Entités gouvernementales et locales

Niveau du gouvernement	Valeur totale du contrat	Nombre de clients
Gouvernement de l'État	27,6 millions de dollars	14 Administrations d'État
Gouvernement local	15,3 millions de dollars	42 entités municipales

Telos Corporation (TLS) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Telos Corporation a investi 37,8 millions de dollars dans la recherche et le développement, ce qui représente 14,2% des revenus totaux.

Exercice fiscal	Investissement en R&D	Pourcentage de revenus
2023	37,8 millions de dollars	14.2%

Frais de conformité du contrat du gouvernement

Les coûts liés à la conformité pour les contrats gouvernementaux en 2023 ont totalisé 12,5 millions de dollars, notamment:

• Conformité à la cybersécurité: 5,2 millions de dollars
• Documentation réglementaire: 3,7 millions de dollars
• Processus d'audit et de vérification: 3,6 millions de dollars

Salaires des employés et formation technique

Catégorie de coûts	Dépenses annuelles
Salaires totaux des employés	156,4 millions de dollars
Programmes de formation technique	4,6 millions de dollars

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques pour 2023 étaient de 22,3 millions de dollars, en panne comme suit:

• Infrastructure cloud: 9,7 millions de dollars
• Systèmes de sécurité du réseau: 6,5 millions de dollars
• Mises à jour du matériel et des logiciels: 6,1 millions de dollars

Coûts de marketing et de développement commercial

Catégorie de dépenses de marketing	Budget annuel
Marketing numérique	5,6 millions de dollars
Salons et conférences	2,3 millions de dollars
Initiatives de développement commercial	4,1 millions de dollars

Structure totale des coûts pour 2023: 233,5 millions de dollars

Telos Corporation (TLS) - Modèle d'entreprise: Strots de revenus

Contrats de cybersécurité du gouvernement fédéral

T2 2023 Revenus de contrat fédéral: 87,3 millions de dollars

Type de contrat	Valeur annuelle	Durée du contrat
Département de la cybersécurité de la défense	45,2 millions de dollars	3 ans
Sécurité de la communauté du renseignement	32,6 millions de dollars	2 ans

Abonnements de solution de sécurité d'entreprise

2023 Revenus récurrents annuels des abonnements aux entreprises: 62,4 millions de dollars

• Abonnement à la protection des terminaux: 24,1 millions de dollars
• Abonnement à la sécurité du cloud: 18,7 millions de dollars
• Abonnement à la sécurité du réseau: 19,6 millions de dollars

Services de conseil professionnel

2023 Revenus de services professionnels: 41,9 millions de dollars

Service de conseil	Revenu
Évaluation de la cybersécurité	15,3 millions de dollars
Conseil de gestion des risques	12,6 millions de dollars
Conseil de conformité	14 millions de dollars

Projets de mise en œuvre de la technologie

2023 Revenus de mise en œuvre de la technologie: 53,7 millions de dollars

• Implémentation d'architecture de fiducie zéro: 22,5 millions de dollars
• Mise à niveau des infrastructures de sécurité: 18,2 millions de dollars
• Projets de sécurité de migration dans le cloud: 13 millions de dollars

Services de sécurité gérés en cours

2023 Revenus de services de sécurité gérés: 76,5 millions de dollars

Catégorie de service	Revenus annuels
Surveillance de la sécurité 24/7	32,8 millions de dollars
Répose de la réponse aux incidents	23,7 millions de dollars
Détection de menace continue	20 millions de dollars

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.