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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Telos
Telos (TLS) investor relations material
Telos Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Q3 revenue rose 7.3% YoY to $55.2M, exceeding guidance; GAAP net income was $4.4M versus a $2.1M loss a year earlier.
Adjusted EBITDA was $10.6M and free cash flow was $7.4M; FY26 revenue and Adjusted EBITDA guidance increased.
Financial highlights
Q3 operating income was $4.1M versus a $2.5M loss; GAAP operating expenses declined 26.8% YoY, primarily on lower stock-based compensation.
Adjusted net income was $7.0M versus $6.8M; adjusted EBITDA rose to $10.6M from $10.1M.
Nine-month revenue increased 27.7% to $150.7M, while net income was $7.1M versus a $20.2M loss.
Nine-month free cash flow rose 36% to $20.4M, primarily on higher adjusted EBITDA.
Outlook and guidance
FY26 revenue guidance rose to $198.2M-$200.7M, or 20%-22% YoY growth; Adjusted EBITDA guidance increased to $32.3M-$34.1M, with a 16.3%-17.0% margin.
Q4 revenue guidance is $47.5M-$50.0M, up 2%-7% YoY; Adjusted EBITDA is $7.0M-$8.8M, with a 14.7%-17.6% margin.
$58M of net new Xacta and professional-services bookings are expected to contribute $6M revenue in 2026 and $20M in 2027, at normalized margins.
Third-party software phase-out is expected to create a $32M YoY revenue headwind in 2027 with modest profit impact; IT GEMS phase-out is expected to lift full-year run-rate gross margin by ~600 bps.
Funded backlog was $84.0M at September 30; ~90% of remaining performance obligations are expected to be recognized over the next 12 months.
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Latest events from Telos
- Revenue up 33% YoY, margins and cash flow improved, profit outlook raised.TLS
Q2 2026 - Revenue up 56% with strong margins, cash flow, and outlook; share buybacks accelerating.TLSQ1 2026
- Key votes include board elections, auditor ratification, and executive compensation approval.TLSProxy filing
- Proxy covers director elections, equity plan, auditor, and say-on-pay, all with board support.TLSProxy filing
- Double-digit revenue growth, margin expansion, and strong cash flow expected in 2026.TLSQ4 2025
- Q3 revenue was $23.8M, with sequential Security Solutions growth and restructuring for 2025.TLSQ3 2024
- Q2 revenue beat guidance but fell year-over-year; Q3 outlook signals further declines.TLSQ2 2024
- Q1 revenue up 3.4% to $30.6M, gross margin 39.8%, and positive cash flow despite wider net loss.TLSQ1 2025
- Q4 revenue rose 11% to $26.4M, with record margins and a strong 2025 outlook.TLSQ4 2024
Next Telos earnings date
Q4 202615 Mar, 2027
Telos
Next Telos earnings date
Q4 202615 Mar, 2027
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Frequently asked questions
As a IT solutions provider with more than 36 years of experience, Telos delivers cyber security, secure mobility and identity management solutions to government and commercial organizations worldwide. The company's solutions help their partners safeguard their environments, ensure compliance, and implement sophisticated modern telecommunications services by leveraging Telos deep expertise, open innovation, and global presence. Telos provides their services and products to government and commersial clients.