TLS earnings analysis
What we found in TLS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Telos delivered Q2 2026 revenue of $47.7 million and diluted EPS of $0.04, with revenue up approximately 32.5% year over year and EPS improving from $(0.13). Revenue was broadly stable sequentially versus $48 million in Q1, while the supplied filing text does not provide current-quarter margin, segment, balance-sheet, or cash-flow details. The company repurchased $4.7 million of stock during the quarter, and no quantitative forward guidance or material risk-factor changes were disclosed.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue remained elevated year over year
- Second-quarter revenue was $47.7 million, up from $36 million in the prior-year quarter, an increase of approximately 32.5%, but down slightly from $48 million in Q1 2026.
- EPS improved to $0.04
- Diluted EPS was $0.04 in Q2 2026 versus $(0.13) in Q2 2025 and $0.03 in Q1 2026, indicating continued year-over-year profitability improvement.
- Share repurchases continued
- The company repurchased 1,042,350 shares during Q2 2026 for an aggregate $4.7 million, including 733,100 shares in June at an average price of $4.54.
- Repurchase capacity remains substantial
- Following Q2 repurchases, $43,199,457 remained available under the repurchase authorization, which includes the additional $25.0 million authorized on March 12, 2026.
- No reported control deficiencies
- Management concluded that disclosure controls and procedures were effective at the reasonable assurance level as of June 30, 2026, and reported no changes in internal control that materially affected, or were reasonably likely to materially affect, reporting controls.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Financial-market risk remains
- The company remains exposed to interest-rate, foreign-currency translation, and counterparty risk; the 10-Q states the 2025 Form 10-K disclosure had not changed materially during the six months ended June 30, 2026.
- Repurchases use available capital
- The company spent $4.7 million to repurchase 1,042,350 shares in Q2 2026 while free cash flow and balance-sheet cash details were not provided in the supplied filing text, creating a potential capital-allocation and liquidity consideration.
- Existing risks remain unchanged
- The 10-Q reports no material changes to the risk factors disclosed in the 2025 Form 10-K for the year ended December 31, 2025; therefore, the filing provides no evidence that prior risks such as government-contract dependence or litigation exposure have diminished.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.04
What they said about what is next.
No quantitative revenue or EPS outlook was provided in the supplied 10-Q text. Management's market-risk disclosure states it had not changed materially during the six months ended June 30, 2026.
The filing reads better than the one before it.
What came before.
- 10-Q · May 11, 2026
- Telos Corporation reported strong revenue growth in Q1 2026, with actual revenue of $47.7 million, surpassing estimates by 7.04%. The EBPS of $0.06 marked a significant improvement from the prior year, reflecting a…
- 10-K · March 16, 2026
- Telos reported a step-change 2025 driven by product-led demand and federal programs: full-year revenue totaled $165.0M in 2025 versus $108.0M in 2024, with Security Solutions growing to 90.8% of revenue (2025). Gross…
- 10-Q · November 10, 2025
- Telos reported a step-change quarter: Q3 revenue of $51,444,000 (reported as $51,444 in the filing, in thousands) up sharply year-over-year from $23,783 (in thousands), with gross profit improving to $20,546 (in…
- 10-Q · November 12, 2024
- Telos reported Q3 revenue of $23.783 million (down from $36.186 million in Q3 2023) and a GAAP net loss of $28.055 million (diluted EPS $(0.39)), driven by an $11.706 million impairment of intangible assets and higher…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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