Filing Flows › Telos (TLS) › Q2 2025
Telos (TLS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Telos (TLS) reported revenue of $36.0M for the second quarter 2025 (Q2 2025), +26% from a year earlier and +17% from the quarter before. Operating margin was -27.5%, net loss $9.5M (26.5% of revenue).
Telos, Q2 2025: revenue $36.0M (+26% year over year), operating margin -27.5%, net loss $9.5M, operating cash flow $7.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $36.0M | +17% | +26% |
| Operating profit | −$9.9M | — | — |
| Net earnings | −$9.5M | — | — |
| Operating cash flow | $7.0M | +14% | — |
| Free cash flow | $6.8M | +14% | — |
What changed
Revenue was $36.0M in Q2 2025, up 26% year over year and up 17% from the previous quarter. Service was the largest line at 81% of revenue. Product added $5.1M year over year (up 336%), 69% of the total change.
Gross margin was 33.2%, down 0.9 points from a year earlier. Operating costs exceeded revenue by $9.9M, an operating margin of -27.5%. Operating expenses grew 19% against revenue growth of 26%. The fastest-growing cost line was SG&A (+20%). The quarter ended with a net loss of $9.5M, wider than the previous quarter's $8.6M loss.
Operating cash flow was $7.0M. Non-cash charges added back $2.5M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items added $6.2M. Capital expenditures of $134K left free cash flow of $6.8M.
Questions
What was Telos' revenue in the second quarter 2025?
Telos (TLS) reported revenue of $36.0M for the second quarter 2025 (Q2 2025), +26% from a year earlier and +17% from the quarter before.
Was Telos profitable in the second quarter 2025?
Operating loss was $9.9M (-27.5% of revenue) and net loss $9.5M.
Source: Telos 10-Q on SEC EDGAR.