Filing Flows › Telos (TLS) › Q1 2026 › vs Q1 2025
Telos (TLS) Q1 2026 vs Q1 2025 (year over year)
Telos's revenue rose $17.1M (+56%) from $30.6M in Q1 2025 to $47.7M in Q1 2026. The biggest changes: Service +$13.2M (+46%); Product +$3.9M (+221%). Gross margin 36.4% against 39.8% (-3.4 pts).
Telos, Q1 2026: revenue $47.7M (+56% year over year), operating margin 3.0%, net earnings $2.0M, operating cash flow $8.7M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 36.4% | 39.8% | -3.4 pts |
| Operating margin | 3.0% | -29.5% | +32.5 pts |
| Net margin | 4.2% | -28.1% | +32.3 pts |
| Free cash flow margin | 17.8% | 19.5% | -1.7 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Service | $42.1M | $28.8M | $13.2M | +46% |
| Product | $5.7M | $1.8M | $3.9M | +221% |
| Revenue | $47.7M | $30.6M | $17.1M | +56% |
| Gross profit | $17.4M | $12.2M | $5.2M | +43% |
| Cost of revenue | $30.4M | $18.4M | $11.9M | +65% |
| Other income, net | $586K | $414K | $172K | +42% |
| Operating profit | $1.5M | −$9.0M | $10.5M | — |
| Operating expenses | $15.9M | $21.2M | −$5.3M | -25% |
| Pre-tax earnings | $2.0M | −$8.6M | $10.6M | — |
| Research & development | $1.4M | $1.6M | −$214K | -14% |
| SG&A | $14.6M | $19.6M | −$5.1M | -26% |
| Net earnings | $2.0M | −$8.6M | $10.6M | — |
| Income tax | $18K | −$4K | $22K | — |
| Depreciation & amortization | $3.4M | $2.3M | $1.1M | +47% |
| Share-based compensation | $3.0M | $7.0M | −$4.1M | -58% |
| Working capital & other | $233K | $5.3M | −$5.1M | -96% |
| Operating cash flow | $8.7M | $6.1M | $2.5M | +42% |
| Free cash flow (OCF − capex) | $8.5M | $6.0M | $2.5M | +42% |
| Capital expenditures | $145K | $123K | $22K | +18% |
Questions
How much did Telos's revenue grow year over year in Q1 2026?
Telos's revenue rose $17.1M (+56%) from $30.6M in Q1 2025 to $47.7M in Q1 2026.
What drove Telos's revenue change in Q1 2026?
Service +$13.2M (+46%); Product +$3.9M (+221%).