2023-03-16 12:27:54 ET
- Telos ( NASDAQ: TLS ) stock tumbled ~32% on Thursday after the company's said it expects lower revenue this year; and Q1 and FY23 revenue guidance was seen below estimates.
- Adjusted EPS declined -54.5% Y/Y to $0.05. Meanwhile, revenue fell -26% Y/Y to $47.34M. However, both top and bottom line beat estimates.
- Telos Chairman and CEO John Wood said, "the wind-down of large programs coming to completion in Secure Networks, insufficient new business wins in 2022, and meaningful revenue reductions on some ongoing programs will weigh heavily on 2023 performance. 2023 will be a transition year focused on generating new business wins for 2024 and beyond."
- Q4 adjusted EBITDA declined -38.6% Y/Y to $5.4M.
- Outlook : The company expects Q1 2023 revenue between $30M and $33M, a decline of -40% to -34% Y/Y ( consensus $41.55M).
- Telos expects full year 2023 revenue between $115M and $140M, a decrease of -47% to -35% Y/Y ( consensus $185.63M).
For further details see:
Telos stock slumps ~30% after CEO warns of decline in FY23 revenue; outlook below estimates