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Telos cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$8.6M in Q2 2026 · $33.7M over twelve months

Operating cash flow$8.8M
Capital spending−$246K
Free cash flow+$8.6M
Cash / net income13.4×
Cash conversion cycle31 days

Analysis

In Q2 2026, Telos generated $8.8M of operating cash flow and spent $246K on capital projects, leaving free cash flow of $8.6M. That is $1.8M more than in Q2 2025 ($6.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was $34.6M; the largest uses were buybacks ($16.5M), taxes on employees’ shares ($13.8M), other investing ($7.9M); besides operations, cash came from other financing ($73K); the cash balance fell by $6.3M.

Operating cash flow was $8.8M against net income of $660K — 13.4× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$8.2M, depreciation & amortization +$3.3M, stock-based pay +$3.2M.

Its cash conversion cycle was 31 days (receivables 33 + inventory 11 − payables 13).

Free cash flow

Telos: free cash flow by quarterTelos: free cash flow by quarter−$7.1MQ3 2024−$12.4MQ4 2024$6.0MQ1 2025$6.8MQ2 2025$8.7MQ3 2025$8.0MQ4 2025$8.5MQ1 2026$8.6MQ2 2026
Operating cash flow less capital spending.
Telos: operating cash flow against capital spendingTelos: operating cash flow against capital spendingOperating cash flowCapital spending−$7.1M$49KQ3 2024−$10.5M$1.9MQ4 2024$6.1M$123KQ1 2025$7.0M$134KQ2 2025$9.1M$452KQ3 2025$8.0M$30KQ4 2025$8.7M$145KQ1 2026$8.8M$246KQ2 2026
Latest (Q2 2026): Operating cash flow $8.8M, Capital spending $246K.

Capital allocation, year by year

Telos: where the cash came from (up) and went (down), by fiscal yearTelos: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $7.3MFY2021: Net borrowing −$1.3MFY2021: Shares issued $64.3MFY2021: Capital spending −$3.2MFY2021: Acquisitions −$5.9MFY2021: Buybacks −$1.3M$71.5MFY2021FY2022: Operating cash flow $16.5MFY2022: Net borrowing −$1.5MFY2022: Capital spending −$1.0MFY2022: Buybacks −$11.1M$16.5MFY2022FY2023: Operating cash flow $1.6MFY2023: Net borrowing −$1.6MFY2023: Capital spending −$926KFY2023: Buybacks −$139K$1.6MFY2023FY2024: Operating cash flow −$25.9MFY2024: Net borrowing −$1.7MFY2024: Shares issued $203KFY2024: Capital spending −$2.3M$203KFY2024FY2025: Operating cash flow $30.2MFY2025: Net borrowing −$1.9MFY2025: Shares issued $108KFY2025: Capital spending −$739KFY2025: Buybacks −$13.6M$30.3MFY2025
Over these 5 years operating cash flow totalled $29.6M; the largest uses were buybacks ($26.2M) and operating cash flow ($25.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$50.6M
Debtnone
Net cash$50.6M

Telos funds itself: free cash flow was $33.7M over the last twelve months, with $50.6M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Telos: sources (+) and uses (−) of cash, Q2 2026Telos: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$8.8MBuybacks−$4.7MOther investing−$2.0MTaxes on employees’ shares−$1.0MNet borrowing (+) / repaid (−)−$501KCash drawn (+) / kept (−)−$418KCapital spending−$246K
Telos: sources (+) and uses (−) of cash, TTM to Q2 2026Telos: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$34.6MBuybacks−$16.5MTaxes on employees’ shares−$13.8MOther investing−$7.9MCash drawn (+) / kept (−)$6.3MNet borrowing (+) / repaid (−)−$2.0MCapital spending−$873KOther financing$73K

From profit to cash

Telos: net income to operating cash flow, Q2 2026Telos: net income to operating cash flow, Q2 2026Net income$660KDepreciation & amortization$3.3MStock-based pay$3.2MDeferred taxes$2KGains on disposals$1KReceivables−$1.6MPayables−$594KEmployee-related liabilities$325KDeferred revenue−$953KPrepaid and other assets$8.2MOther liabilities−$1.9MOperating cash flow$8.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202633111331
Q1 20263261027
Q4 20253771033
Q3 202535112224
Q2 202548112533
Q1 2025568558
Q4 20245991257
Q3 20246261257

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$8.8M−$246K−$4.7M−$501K—−$418K$8.6M
Q1 2026$8.7M−$145K−$2.2M−$491K—$3.0M$8.5M
Q4 2025$8.0M−$30K−$6.0M−$484K—$5.9M$8.0M
Q3 2025$9.1M−$452K−$3.6M−$479K$108K−$2.1M$8.7M
Q2 2025$7.0M−$134K−$4.0M−$462K—$793K$6.8M
Q1 2025$6.1M−$123K—−$452K—−$3.2M$6.0M
Q4 2024−$10.5M−$1.9M—−$447K$54K$15.2M−$12.4M
Q3 2024−$7.1M−$49K—−$441K$45K$10.3M−$7.1M

Telos: income statement and cash flow

Telos, Q2 2026: revenue $47.7M (+33% year over year), operating margin 0.6%. The chart follows the revenue to costs, profit and cash.

Telos: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.