Telos Corporation (TLS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo da segurança cibernética, a Telos Corporation surge como um guardião formidável, transformando desafios complexos de defesa digital em soluções estratégicas para clientes do governo e da empresa. Ao pioneiro em arquiteturas avançadas de confiança zero e alavancar a profunda experiência em tecnologia da informação segura, a Telos se posicionou como um parceiro crítico na proteção de infraestrutura nacional e redes corporativas contra ameaças cibernéticas em evolução. Sua abrangente modelo de negócios Canvas revela uma abordagem sofisticada para fornecer serviços de segurança cibernética de ponta que vão muito além dos paradigmas de proteção tradicionais.

Telos Corporation (TLS) - Modelo de Negócios: Principais Parcerias

Contratos de segurança cibernética do governo dos EUA e tecnologia da informação

A Telos Corporation detém vários contratos federais ativos com um valor total estimado de US $ 245,6 milhões a partir de 2024. As principais áreas de contrato incluem:

Tipo de contrato	Valor estimado	Duração
Departamento de Segurança Cibernética do Departamento	US $ 87,3 milhões	Mandato de 3 anos
Modernização federal de segurança da informação	US $ 62,5 milhões	Mandato de 2 anos
Soluções de TI da Comunidade de Inteligência	US $ 95,8 milhões	Mandato de 4 anos

Colaborações da Agência de Defesa e Inteligência

Telos mantém parcerias estratégicas com múltiplas agências de defesa e inteligência:

• Comando cibernético dos EUA
• Agência de Segurança Nacional (NSA)
• Agência de Sistemas de Informação de Defesa (DISA)
• Diretoria de Tecnologia da Informação da Agência Central de Inteligência (CIA)

Parceiros de tecnologia

As parcerias de tecnologia em nuvem e segurança incluem:

Parceiro	Foco em parceria	Valor de colaboração
Amazon Web Services	Soluções de segurança em nuvem	US $ 42,7 milhões
Microsoft Azure	Segura infraestrutura de nuvem do governo	US $ 35,2 milhões
Redes Palo Alto	Integração de tecnologia de segurança cibernética	US $ 28,6 milhões

Alianças estratégicas com integradores federais de sistemas

Telos colabora com os principais integradores federais de sistemas:

• Booz Allen Hamilton
• Saic
• Leidos
• Mantech International

Software de segurança cibernética e fornecedores de hardware

Parcerias de fornecedores englobam:

Fornecedor	Segmento de tecnologia	Receita de parceria
Crowdstrike	Segurança do endpoint	US $ 22,4 milhões
Splunk	Informações de segurança e gerenciamento de eventos	US $ 18,9 milhões
Sistemas Cisco	Infraestrutura de segurança de rede	US $ 33,5 milhões

Telos Corporation (TLS) - Modelo de Negócios: Atividades -chave

Desenvolvendo soluções seguras de tecnologia da informação corporativa

A Telos Corporation concentra -se na criação de soluções avançadas de TI da empresa com recursos tecnológicos específicos:

Categoria de tecnologia	Investimento anual	Foco de desenvolvimento
Software corporativo	US $ 14,2 milhões	Plataformas de segurança baseadas em nuvem
Infraestrutura de segurança cibernética	US $ 9,7 milhões	Sistemas avançados de detecção de ameaças

Fornecendo serviços de segurança cibernética e gerenciamento de riscos

As ofertas de serviços de segurança cibernética incluem:

• Avaliações de segurança abrangentes
• Monitoramento de inteligência de ameaças
• Planejamento de resposta a incidentes

Categoria de serviço	Receita anual	Segmentos de clientes
Serviços de segurança cibernética	US $ 87,3 milhões	Federal, Comercial, Defesa

Projetando plataformas avançadas de identidade e gerenciamento de acesso

Capacidades tecnológicas -chave:

• Sistemas de autenticação multifatores
• Tecnologias de verificação biométrica
• Controles de acesso a zero-confiança

Tipo de plataforma	Gasto de desenvolvimento	Escopo de implementação
Gerenciamento de identidade	US $ 6,5 milhões	Clientes do governo e da empresa

Implementando zero arquiteturas de segurança de confiança

As estratégias de implementação de confiança zero envolvem:

• Protocolos de autenticação contínua
• Técnicas de micro-segmentação
• Detecção de ameaças em tempo real

Apoiando iniciativas de transformação digital do governo federal

Setor governamental	Valor do contrato	Foco em tecnologia
Segurança cibernética federal	US $ 129,6 milhões	Infraestrutura digital segura

Telos Corporation (TLS) - Modelo de Negócios: Recursos Principais

Plataformas proprietárias de software de segurança cibernética e tecnologia

A Telos Corporation mantém um portfólio abrangente de tecnologia de segurança cibernética com os seguintes ativos tecnológicos -chave:

Plataforma de tecnologia	Recursos específicos
Xacta	Plataforma de gerenciamento de riscos e automação de conformidade
Segmentação do guarda	Microsementation e Solução de Segurança de Confiança Zero

Experiência cibernética experiente e força de trabalho profissional de TI

Composição da força de trabalho a partir do quarto trimestre 2023:

Categoria de funcionários	Número de funcionários
Total de funcionários	1,394
Profissionais de segurança cibernética	~ 65% da força de trabalho

Forte portfólio de contratos do governo federal

Detalhes do contrato do governo:

• Valor total do contrato federal em 2023: US $ 328,4 milhões
• Porcentagem de receita de contratos federais: 82%
• Principais clientes da agência federal: Departamento de Defesa, Comunidade de Inteligência

Capacidades avançadas de pesquisa e desenvolvimento

Métricas de investimento em P&D:

Métrica de P&D	2023 valor
Despesas de P&D	US $ 42,1 milhões
P&D como porcentagem de receita	12.3%

Patentes de propriedade intelectual e tecnologia robustas

Portfólio de propriedade intelectual:

• Total de patentes ativas: 37
• Categorias de patentes: segurança cibernética, segurança em nuvem, gerenciamento de identidade
• Aplicações de patentes pendentes: 12

Telos Corporation (TLS) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes de segurança cibernética corporativa

A Telos Corporation fornece soluções de segurança cibernética de ponta a ponta com as seguintes métricas-chave:

Categoria de solução	Receita anual	Penetração de mercado
Plataforma de segurança corporativa	US $ 87,3 milhões	42% dos clientes da Fortune 500
Serviços de segurança em nuvem	US $ 53,6 milhões	36 implantações no nível da empresa

Especializado Governo e Especorção do Setor de Defesa

A Telos oferece serviços especializados de segurança cibernética às agências governamentais:

• Valor do contrato de Departamento de Defesa: US $ 124,7 milhões
• Soluções federais de segurança da agência civil: US $ 67,2 milhões
• Comunidade de inteligência Contratos de segurança cibernética: US $ 41,5 milhões

Tecnologias avançadas de segurança do Zero Trust

Tecnologia	Investimento anual	Aplicações de patentes
Zero Trust Architecture	US $ 22,4 milhões	7 patentes pendentes
Sistemas de verificação de identidade	US $ 15,9 milhões	4 patentes concedidas

Serviços de transformação digital seguros

As ofertas de transformação digital incluem:

• Serviços de modernização digital: receita de US $ 43,6 milhões
• Soluções de migração em nuvem: 28 principais implementações corporativas
• Conformidade e Gerenciamento de Riscos: US $ 31,2 milhões em contratos anuais

Plataformas inovadoras de identidade e gerenciamento de acesso

Plataforma	Receita anual	Base de usuários
Gerenciamento de identidade XACTA	US $ 39,7 milhões	127 clientes governamentais/corporativos
Sistemas de controle de acesso seguro	US $ 26,3 milhões	94 Ambientes implementados

Telos Corporation (TLS) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias de contratos governamentais de longo prazo

A partir do quarto trimestre 2023, a Telos Corporation mantém 87 contratos governamentais ativos nos níveis federal, estadual e local. O valor total do contrato para essas parcerias é de US $ 456,3 milhões.

Tipo de contrato	Número de contratos	Valor total do contrato
Governo federal	42	US $ 276,5 milhões
Governo do Estado	29	US $ 112,8 milhões
Governo local	16	US $ 67 milhões

Equipes de gerenciamento de contas dedicadas

A Telos Corporation emprega 124 gerentes de conta dedicados Servindo clientes empresariais e governamentais. A taxa média de retenção de clientes é de 93,4%.

• O gerente médio de contas lida com 7-9 clientes-chave
• Classificação trimestral de satisfação do cliente: 4.7/5
• Processo de revisão de conta anual para cada cliente

Serviços técnicos de suporte e consultoria

A infraestrutura de suporte técnico inclui 247 pessoal de apoio especializado. O tempo médio de resposta para questões críticas é de 17 minutos.

Canal de suporte	Tempo médio de resposta	Volume de suporte anual
Suporte telefônico	12 minutos	34.562 chamadas
Suporte por e -mail	24 minutos	46.789 ingressos
Bate -papo ao vivo	9 minutos	21.345 interações

Treinamento e educação em andamento em andamento

Telos oferece Programas abrangentes de treinamento em segurança cibernética. Em 2023, 4.672 profissionais concluíram os cursos de certificação.

• 12 módulos de treinamento diferentes disponíveis
• Duração média do treinamento: 40 horas
• Opções de treinamento online e pessoalmente

Desenvolvimento de solução de segurança personalizada

O desenvolvimento de soluções de segurança personalizado representa 42% da receita anual da Telos Corporation. Em 2023, 89 soluções de segurança exclusivas foram desenvolvidas para clientes.

Categoria de solução	Número de soluções	Tempo médio de desenvolvimento
Segurança corporativa	42	3-4 meses
Segurança do governo	37	5-6 meses
Infraestrutura crítica	10	6-8 meses

Telos Corporation (TLS) - Modelo de Negócios: Canais

Vendas diretas de contrato do governo

A Telos Corporation gerou US $ 234,7 milhões em receita do governo federal no terceiro trimestre de 2023. As vendas diretas para as agências governamentais representaram 62% da receita total da empresa.

Setor governamental	Valor do contrato	Porcentagem de vendas diretas
Departamento de Defesa	US $ 89,3 milhões	38%
Segurança Interna	US $ 67,5 milhões	29%
Comunidade de inteligência	US $ 45,2 milhões	19%

Parceiros de integração de sistemas federais

A Telos colabora com 17 parceiros de integração de sistemas principais para contratos federais.

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

Marketing digital e site corporativo

O site da Telos Corporation recebe 127.000 visitantes mensais únicos. O orçamento de marketing digital para 2023 foi de US $ 3,2 milhões.

Conferências da indústria e eventos de segurança cibernética

A Telos participou de 22 conferências do setor em 2023, gerando US $ 18,6 milhões em possíveis leads de vendas.

Tipo de conferência	Número de eventos	Valor potencial de chumbo
Conferências de segurança cibernética	12	US $ 11,4 milhões
Eventos de tecnologia do governo	7	US $ 5,2 milhões
Cúpulas de segurança em nuvem	3	US $ 2 milhões

Rede de parceiros de tecnologia

A Telos mantém parcerias com 43 fornecedores de tecnologia, representando US $ 52,3 milhões em receita colaborativa para 2023.

• Amazon Web Services
• Microsoft Azure
• Redes Palo Alto
• Crowdstrike
• Splunk

Telos Corporation (TLS) - Modelo de Negócios: Segmentos de Clientes

Agências do governo federal dos EUA

A Telos Corporation atende várias agências federais com segurança cibernética e soluções em nuvem.

Tipo de agência	Valor anual do contrato	Número de contratos ativos
Departamento de Defesa	US $ 42,3 milhões	17 contratos ativos
Departamento de Segurança Interna	US $ 35,7 milhões	12 contratos ativos

Organizações de Defesa e Inteligência

Soluções especializadas de segurança cibernética para entidades de segurança nacional.

• Clientes da comunidade de inteligência: 8 grandes organizações
• Receita anual do setor de defesa: US $ 127,6 milhões
• Portfólio de contratos classificados: 22 acordos ativos

Provedores críticos de infraestrutura

Setor de infraestrutura	Valor total do contrato	Número de clientes
Energia	US $ 18,5 milhões	6 grandes empresas de serviços públicos
Telecomunicações	US $ 22,3 milhões	4 fornecedores nacionais

Grandes corporações empresariais

Enterprise Cybersecurity e Cloud Migration Services.

• Fortune 500 Clientes: 37 clientes ativos
• Valor médio do contrato: US $ 3,2 milhões por empresa
• Receita do segmento total da empresa: US $ 118,4 milhões

Entidades do governo estadual e local

Nível do governo	Valor total do contrato	Número de clientes
Governo do Estado	US $ 27,6 milhões	14 Administrações estaduais
Governo local	US $ 15,3 milhões	42 entidades municipais

Telos Corporation (TLS) - Modelo de Negócios: Estrutura de Custo

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Telos Corporation investiu US $ 37,8 milhões em pesquisa e desenvolvimento, representando 14,2% da receita total.

Ano fiscal	Investimento em P&D	Porcentagem de receita
2023	US $ 37,8 milhões	14.2%

Despesas de conformidade do contrato governamental

Os custos relacionados à conformidade para contratos governamentais em 2023 totalizaram US $ 12,5 milhões, incluindo:

• Conformidade de segurança cibernética: US $ 5,2 milhões
• Documentação regulatória: US $ 3,7 milhões
• Processos de auditoria e verificação: US $ 3,6 milhões

Salários de funcionários e treinamento técnico

Categoria de custo	Despesa anual
Salários totais dos funcionários	US $ 156,4 milhões
Programas de treinamento técnico	US $ 4,6 milhões

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de infraestrutura tecnológica para 2023 foram de US $ 22,3 milhões, divididos da seguinte forma:

• Infraestrutura em nuvem: US $ 9,7 milhões
• Sistemas de segurança de rede: US $ 6,5 milhões
• Atualizações de hardware e software: US $ 6,1 milhões

Custos de marketing e desenvolvimento de negócios

Categoria de despesa de marketing	Orçamento anual
Marketing digital	US $ 5,6 milhões
Feiras e conferências	US $ 2,3 milhões
Iniciativas de desenvolvimento de negócios	US $ 4,1 milhões

Estrutura de custo total para 2023: US $ 233,5 milhões

Telos Corporation (TLS) - Modelo de negócios: fluxos de receita

Contratos de segurança cibernética do governo federal

Q4 2023 Receita do contrato federal: US $ 87,3 milhões

Tipo de contrato	Valor anual	Duração do contrato
Departamento de Segurança Cibernética do Departamento	US $ 45,2 milhões	3 anos
Segurança da comunidade de inteligência	US $ 32,6 milhões	2 anos

Assinaturas de solução de segurança corporativa

2023 Receita recorrente anual de assinaturas corporativas: US $ 62,4 milhões

• Assinatura de proteção de endpoint: US $ 24,1 milhões
• Assinatura de segurança em nuvem: US $ 18,7 milhões
• Assinatura de segurança de rede: US $ 19,6 milhões

Serviços de Consultoria Profissional

2023 Receita de Serviços Profissionais: US $ 41,9 milhões

Serviço de consultoria	Receita
Avaliação de segurança cibernética	US $ 15,3 milhões
Consultoria em gerenciamento de riscos	US $ 12,6 milhões
Aviso de conformidade	US $ 14 milhões

Projetos de implementação de tecnologia

2023 Receita de implementação de tecnologia: US $ 53,7 milhões

• Implementação de arquitetura de confiança zero: US $ 22,5 milhões
• Atualização da infraestrutura de segurança: US $ 18,2 milhões
• Projetos de segurança de migração em nuvem: US $ 13 milhões

Serviços de segurança gerenciados em andamento

2023 Receita de Serviços de Segurança Gerenciada: US $ 76,5 milhões

Categoria de serviço	Receita anual
Monitoramento de segurança 24/7	US $ 32,8 milhões
Retentor de resposta a incidentes	US $ 23,7 milhões
Detecção contínua de ameaças	US $ 20 milhões

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.