Telos sees Q4 revenue below expectations, cuts FY forecast; shares plunge

Telos

09/11/2022 16:17

** Shares of cyber security co Telos Corp  TLS.O  fall 67%
to an all-time low of $3.65
    ** Co cuts FY rev forecast to range of $213 mln-$217 mln
from $226 mln-$242 mln
    ** TLS sees Q4 rev in the range of $43 mln to $47 mln, well
below analysts' expectations of $64.4 mln - IBES Refinitiv data
    ** Revised outlook reflects lower Q4 rev in its Secure
Networks segment, says TLS
    ** Co reports Q3 adj EPS of 10 cents, rev of $63.6 mln, both
beating Wall Street consensus expectations
    ** Five of six brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $13
    ** Stock has fallen 76.4 YTD, compared with a 32.9% decline
in the Nasdaq  .IXIC 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))