Telos Corp plunges on disappointing 2022 revenue forecast

Telos

16/03/2022 11:42

** Shares of cyber security firm  TLS.O  down ~16%
pre-market; set to open at all-time low of $8.65, if losses hold
    ** Co forecast full-year 2022 and Q1 revenue below estimates
 urn:newsml:reuters.com:*:nFWN2VJ0S6
    ** TLS expects 2022 revenue between $226 mln and $257 mln,
below analysts' average expectation of $282 mln - Refinitiv IBES
data 
    ** Co also sees Q1 revenue between $44 mln and $48 mln,
below analysts' average expectation of $60 mln, per Refinitiv
IBES data 
    ** However, TLS beat Q4 revenue and adjusted profit
estimates, helped by growth in security solutions and secure
networks  urn:newsml:reuters.com:*:nGNX2SLX3j
    ** Up to Tuesday's close, stock had fallen ~33% YTD

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))