Telos(US:TLS)2022-08-09 18:42Financial Performance Summary - Revenue for Q2 2022 was $55.8 million, exceeding the guidance of $50 million to $54 million[19] - Revenue growth was +4% year-over-year and +11% sequentially[19] - Gross profit was $20.9 million with a 37.5% margin, which is -449 bps year-over-year, also above the guidance of 33% to 35% margin (-900 to -700 bps)[19] - Adjusted EBITDA was $4.5 million, above the high end of the guidance range[18, 19] - Adjusted EPS was $0.04[19] Segment Performance - Security Solutions revenue decreased by 4% year-over-year but increased by 15% sequentially[9] - Secure Networks revenue increased by 17% year-over-year and 7% sequentially[11] - Security Solutions weighted 55% of total revenues, contributing to higher gross margins[14] Guidance and Assumptions - Q3 2022 revenue is projected to be between $58 million and $62 million, with adjusted EBITDA between $3.5 million and $5 million[26] - Full year 2022 revenue guidance is updated to $226 million to $242 million, with adjusted EBITDA of $18 million to $24 million[31] - Gross margin for Q3 2022 is expected to be down 350-500 basis points year-over-year[28] Additional Information - Below the line expenses excluding stock based compensation ~$1M higher YoY due to ramp of R&D and G&A investments during 2021[29]