Filing Flows › Telos (TLS) › Q4 2025
Telos (TLS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 16, 2026
Telos (TLS) reported revenue of $46.8M for the fourth quarter 2025 (Q4 2025), +77% from a year earlier and -9% from the quarter before. Operating margin was -39.6%, net loss $16.3M (34.9% of revenue).
Telos, Q4 2025: revenue $46.8M (+77% year over year), operating margin -39.6%, net loss $16.3M, operating cash flow $8.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.8M | -9% | +77% |
| Operating profit | −$18.5M | — | — |
| Net earnings | −$16.3M | — | — |
| Operating cash flow | $8.0M | -13% | — |
| Free cash flow | $8.0M | -9% | — |
What changed
Revenue was $46.8M in Q4 2025, up 77% year over year and down 9% from the previous quarter. Service was the largest line at 75% of revenue.
Gross margin was 35.0%, down 5.3 points from Q4 2024. Operating costs exceeded revenue by $18.5M, an operating margin of -39.6%. Operating expenses grew 70% against revenue growth of 77%. The fastest-growing cost line was Research & development (+48%). The quarter ended with a net loss of $16.3M, wider than the previous quarter's $2.1M loss.
Operating cash flow was $8.0M. Non-cash charges added back $3.4M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items added $14.9M. Capital expenditures of $30K left free cash flow of $8.0M.
Questions
What was Telos' revenue in the fourth quarter 2025?
Telos (TLS) reported revenue of $46.8M for the fourth quarter 2025 (Q4 2025), +77% from a year earlier and -9% from the quarter before.
Was Telos profitable in the fourth quarter 2025?
Operating loss was $18.5M (-39.6% of revenue) and net loss $16.3M.
Source: Telos 10-K on SEC EDGAR.