Filing Flows › Telos (TLS) › Q2 2026 › vs Q2 2025
Telos (TLS) Q2 2026 vs Q2 2025 (year over year)
Telos's revenue rose $11.8M (+33%) from $36.0M in Q2 2025 to $47.7M in Q2 2026. The biggest changes: Service +$11.3M (+39%); Product +$484K (+7%). Gross margin 35.0% against 33.2% (+1.8 pts).
Telos, Q2 2026: revenue $47.7M (+33% year over year), operating margin 0.6%, net earnings $660K, operating cash flow $8.8M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 35.0% | 33.2% | +1.8 pts |
| Operating margin | 0.6% | -27.5% | +28.1 pts |
| Net margin | 1.4% | -26.5% | +27.8 pts |
| Free cash flow margin | 18.0% | 19.0% | -1.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Service | $40.6M | $29.3M | $11.3M | +39% |
| Product | $7.2M | $6.7M | $484K | +7% |
| Revenue | $47.7M | $36.0M | $11.8M | +33% |
| Gross profit | $16.7M | $11.9M | $4.8M | +40% |
| Cost of revenue | $31.1M | $24.0M | $7.0M | +29% |
| Other income, net | $394K | $412K | −$18K | -4% |
| Operating profit | $310K | −$9.9M | $10.2M | — |
| Operating expenses | $16.4M | $21.8M | −$5.4M | -25% |
| Pre-tax earnings | $704K | −$9.5M | $10.2M | — |
| Research & development | $1.3M | $1.5M | −$167K | -11% |
| SG&A | $15.0M | $20.3M | −$5.3M | -26% |
| Net earnings | $660K | −$9.5M | $10.2M | — |
| Income tax | $44K | $46K | −$2K | -4% |
| Depreciation & amortization | $3.3M | $2.5M | $838K | +33% |
| Share-based compensation | $3.2M | $7.8M | −$4.5M | -59% |
| Working capital & other | $1.6M | $6.2M | −$4.6M | -74% |
| Operating cash flow | $8.8M | $7.0M | $1.9M | +27% |
| Free cash flow (OCF − capex) | $8.6M | $6.8M | $1.8M | +26% |
| Capital expenditures | $246K | $134K | $112K | +84% |
Questions
How much did Telos's revenue grow year over year in Q2 2026?
Telos's revenue rose $11.8M (+33%) from $36.0M in Q2 2025 to $47.7M in Q2 2026.
What drove Telos's revenue change in Q2 2026?
Service +$11.3M (+39%); Product +$484K (+7%).