IT & Cybersecurity Firm Telos Tops Q3 Expectations Despite Weak Results, Boosts FY23 Guidance
Portfolio Pulse from Lekha Gupta
Telos Corp (NASDAQ:TLS) reported Q3 FY23 revenue of $36.2 million, beating the consensus of $31.9 million. However, both services and products revenue decreased compared to the previous year. Adjusted EPS loss was $(0.07), beating the consensus loss of $(0.13). The company revised its FY23 outlook for revenue to $134 million - $138 million from $122 million - $137 million.
November 09, 2023 | 4:27 pm
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Telos Corp reported better than expected Q3 results and revised its FY23 outlook upwards. However, the company saw a decrease in both services and products revenue.
Telos Corp's better than expected Q3 results and upward revision of its FY23 outlook are positive signals that could boost investor confidence and potentially drive the stock price up in the short term. However, the decrease in services and products revenue could be a concern for investors.
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