Q1 2024 Telos Corp Earnings Call Transcript
Key Points
- Telos Corp (TLSRP.PFD) exceeded both revenue and profit guidance for Q1 2024, with a revenue of $29.6 million, which is $600,000 above the forecast.
- Security Solutions generated 63% of total company revenues, showing a favorable variance and expected to widen as the year progresses.
- Cash gross margin expanded by 249 basis points year-over-year to 42.2%, marking the second highest quarter since IPO.
- Adjusted EBITDA also exceeded expectations, with a $2.3 million loss compared to the forecasted range of a $5.5 million to $5 million loss.
- Telos Corp (TLSRP.PFD) has secured positions on five new contract vehicles since 2023, providing access to a $12 billion addressable market.
- Despite the positive financial outcomes, there are ongoing protests regarding federal awards which could impact future revenues if not resolved favorably.
- Q2 2024 revenue is expected to decline due to nonrecurring perpetual license sales from the previous year.
- Secure Networks revenue is forecasted to decline by 30-40% year-over-year due to ongoing reductions in backlog.
- GAAP gross margin is expected to decrease by 425 to 750 basis points year-over-year in Q2 2024.
- Free cash flow remains negative with a $3.6 million outflow, although it shows improvement from the previous year.
Good day and thank you for standing by. Welcome to the Telus Corporation First Quarter 2020 for earnings call. At this time, all participants are in a listen only mode after the speakers' presentation, there will be a question and answer session to ask a question. During the session, you'll need to press star one one on your telephone. You will then hear an automated message device, in your hand is raised to withdraw your question, please press star one again. Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Alison Philip, please go ahead.
Good morning. Thank you for joining us to discuss Telos Corporation's First Quarter 2024 financial results. With me today is John Wood, Chairman and CEO of Telos, and Mark Bento, Executive Vice President and CFO of Telos.
Let me quickly review the format of today's presentation. Mark will begin with remarks on our first quarter 2024 results. Next, John will discuss
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
