Telos Corporation announces $5 –

ASHBURN, Va., May 24, 2022 (GLOBE NEWSWIRE) — Telos ® Corporation (TLS), a leading provider of cybersecurity, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced that its Board of Directors has authorized a repurchase program of up to $50 million of the company’s common stock.

“This share buyback program underscores the confidence of the Board of Directors and senior management in the Company’s performance and our commitment to creating shareholder value,” said John B. Wood, CEO and Chairman. of Telos. “We will continue to balance our capital allocation strategy between investing in organic and inorganic growth, carefully managing our balance sheet and liquidity profile, and now also distributing capital to shareholders.”

Under the buyback program, Telos may purchase shares of common stock on a discretionary basis from time to time through open market buybacks, privately negotiated transactions or other means, including through negotiation of Rule 10b5-1. The actual timing and number of shares repurchased will be determined by management based on a variety of factors, including the stock price, trading volume, market conditions, cash flow and liquidity profile of the Company and other business considerations. The buyback program has no expiry date and may be modified, suspended or terminated at any time.

Repurchases under this program will be funded from Telos’ existing cash and cash equivalents and future cash flows. As of March 31, 2022, Telos had $120.2 million in cash and cash equivalents.

Forward-looking statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws. These statements are based on the Company’s management’s current beliefs, expectations and assumptions regarding future events, conditions and results and on information currently available to it. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, those described under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” appearing from time to time. other in the Company’s filings and reports with the United States Securities and Exchange Commission (SEC), including their Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as well as future filings and Company reports, copies of which are available at and on the SEC website at

Although the Company bases these forward-looking statements on assumptions it believes were reasonable at the time they were made, it cautions the reader that forward-looking statements are not guarantees of future performance and that the Company’s actual results of operations, its financial condition and liquidity, as well as industry developments may differ materially from the statements made or implied by the forward-looking statements contained in this release. Given these risks, uncertainties and other factors, many of which are beyond its control, the Company cautions readers not to place undue reliance on such forward-looking statements. Any forward-looking statement speaks only as of the date of such statement and, except as required by law, the Company undertakes no obligation to publicly update any forward-looking statement or to revise any forward-looking statement to reflect future events. or developments occurring after the statement date, even if new information becomes available later. Comparisons of results for current and prior periods are not intended to express future trends or indications of future performance, unless specifically expressed as such, and should be considered historical data only.

About Telos Corporation
Telos Corporation (TLS) empowers and protects the world’s most security-conscious organizations with solutions to ensure the continued security of people, systems and information. Telos offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable ongoing compliance with industry and government security standards; and enterprise security solutions for identity and access management, secure mobility, organizational messaging, and network management and defense. The Company serves commercial enterprises, regulated industries and government customers worldwide.

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Luisa D. Fuller