The following is a summary of the Telos Corporation (TLS) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Telos Corporation returned to positive cash flow in Q4 despite financial headwinds in 2023.

• They reported a revenue of $41.1 million, exceeding their guidance range by $7.1 million due to strong performance in Secure Networks and Security Solutions.

• Despite GAAP gross margin falling slightly below their guidance range to 34.3% due to major revenue performance in Secure Networks, the adjusted EBITDA significantly outperformed expected losses.

• The company predicts Q1 2024 revenue to range between $28 million and $29 million with an anticipated EBITDA loss between $5 million to $5.5 million.

Business Progress:

• In 2023, Telos streamlined its business operations, reduced its workforce by around 20%, and focused resources on new business acquisitions.

• They hired new executives and entered teaming agreements worth up to $525 million over five years.

• The company saw substantial progress in terms of new business capture, including renewals with government departments, new orders, and contract renewals.

• Transaction volumes in Telos ID business' TSA PreCheck program showed a quarter-over-quarter increase till Q4 2023.

• The Telos security solutions sector holds 80% of the business pipeline with high expectations for future yields.

• Despite potential revenue dips due to lower backlog in Q1 2024, the company has a positive outlook for financial growth starting from 2025.

More details: Telos IR

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