Telos(TLS) - 2024 Q1 - Earnings Call Presentation

• SN revenue assumptions: • Down low-40% to mid-30% YoY (down high teens % to HSD % sequentially) • Primarily driven by ongoing reductions in backlog • Implied 1H revenue of $54.6M to $57.6M compares favorably with previously provided modelling input of ~$55M • GAAP gross margin down ~750 bps to ~425 bps YoY (down ~700 bps to ~375 bps sequentially); Cash gross margin1 down ~250 bps to flat YoY: • SS GM down primarily due to higher amortization of software development costs and revenue mix • SN GM down prima ...