Telos Renews $5.4 Million Partnership with Fortune 100 Tech Company
Telos announced the renewal of its ongoing partnership with a Fortune 100 global technology company to deliver cyber governance, risk, and compliance, GRC, and security operations support for large-scale commercial cloud environments. The agreement, valued at $5.4 million, reflects the continued growth of a relationship that began in July 2022. "In support of the customer, Telos will continue providing cyber GRC oversight across multiple cloud product lines, supporting the maintenance of existing authorities to operate and the achievement of new authorizations, while leading enterprise security, account operations, and information assurance workflows," the company said.
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Telos Corporation Renews $5.4 Million Cybersecurity Agreement with Fortune 100 Company
- Partnership Renewal: Telos Corporation has renewed a $5.4 million agreement with a Fortune 100 global technology company, continuing to provide cyber governance, risk, and compliance (GRC) and security operations support, reflecting the growth of their relationship since July 2022.
- Cloud Environment Support: This agreement will facilitate cyber GRC oversight across multiple cloud product lines, ensuring the maintenance of existing authorities to operate (ATOs) and achieving new authorizations, thereby enhancing client compliance capabilities in complex cloud environments.
- Industry Leadership: Telos's deep expertise in cyber GRC and operational security positions it as a trusted long-term partner for organizations in highly regulated cloud environments, further solidifying its market position in cybersecurity.
- Experience Accumulation: With over two decades of experience delivering cyber governance, risk, and compliance solutions across government and commercial sectors, Telos helps clients navigate evolving threats and accelerate compliance processes, enhancing the company's industry reputation.
Wall Street Optimistic About Telos Corporation (TLS) as Financials Improve and Price Target Increased
Telos Corporation Overview: Telos Corporation (NASDAQ: TLS) is recognized as a promising cybersecurity stock under $50, holding a Moderate Buy consensus rating from analysts with a significant upside potential of 53.44% based on an average price target of $8.70.
Recent Analyst Upgrades: Analysts from DA Davidson and Northland have raised their price targets for Telos to $7.50 and $9 respectively, reflecting confidence in the company's strong third-quarter performance and positive future outlook, particularly regarding EBITDA margins.
Financial Performance: The company reported a revenue of $51.4 million, exceeding guidance and showing a 116% year-over-year increase, while also narrowing its net loss to $0.03 per share compared to $0.39 a year prior.
Investment Considerations: While Telos shows potential as an investment, the article suggests that certain AI stocks may offer better upside potential and lower risk, encouraging readers to explore other investment opportunities.
