Telos Corporation announced fourth quarter and full year ended December 31, 2025 financial results, with Q4 revenue of $46.8 million up 77% year-over-year, GAAP gross margin of 35.0%, Adjusted EBITDA of $7.3 million, and Q4 free cash flow of $6.3 million. The company forecasts double-digit revenue growth for 2026 and increased share repurchase authorization to $75.0 million.
Key takeaways
Q4 2025 revenue $46.8 million, up 77% from $26.4 million same quarter prior year
Adjusted EBITDA $7.3 million in Q4 2025, up from $(0.2) million prior year
GAAP net loss $16.3 million in Q4 2025, including $14.9 million goodwill impairment and $1.5 million restructuring charge
Q4 free cash flow $6.3 million or 13.4% of revenue; full year $21.3 million or 12.9% of revenue
FY2026 revenue guidance $187-200 million (14-21% growth); Q1 2026 $44.0-45.0 million (44-47% growth)
Share repurchase authorization increased to $75.0 million; Q4 repurchases $6.0 million for over 1 million shares