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Side-by-side financial comparison of Primis Financial Corp. (FRST) and TELOS CORP (TLS). Click either name above to swap in a different company.
TELOS CORP is the larger business by last-quarter revenue ($46.8M vs $45.6M, roughly 1.0× Primis Financial Corp.). Primis Financial Corp. runs the higher net margin — 16.0% vs -34.9%, a 50.9% gap on every dollar of revenue. Over the past eight quarters, TELOS CORP's revenue compounded faster (25.7% CAGR vs 13.0%).
Primis Financial Corp is a U.S.-based financial holding company operating full-service banking subsidiaries. It provides a comprehensive range of financial solutions including personal and commercial deposit products, diverse loan facilities, mortgage services, and wealth management support, primarily serving retail and corporate customers across the U.S. mid-Atlantic region.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
FRST vs TLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $45.6M | $46.8M |
| Net Profit | $7.3M | $-16.3M |
| Gross Margin | — | 35.0% |
| Operating Margin | — | -39.6% |
| Net Margin | 16.0% | -34.9% |
| Revenue YoY | — | 77.4% |
| Net Profit YoY | 200.0% | -74.8% |
| EPS (diluted) | $0.30 | $-0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $45.6M | — | ||
| Q4 25 | $80.9M | $46.8M | ||
| Q3 25 | $41.0M | $51.4M | ||
| Q2 25 | $43.2M | $36.0M | ||
| Q1 25 | $58.7M | $30.6M | ||
| Q4 24 | $38.8M | $26.4M | ||
| Q3 24 | $37.3M | $23.8M | ||
| Q2 24 | $35.7M | $28.5M |
| Q1 26 | $7.3M | — | ||
| Q4 25 | $29.5M | $-16.3M | ||
| Q3 25 | $6.8M | $-2.1M | ||
| Q2 25 | $2.4M | $-9.5M | ||
| Q1 25 | $22.6M | $-8.6M | ||
| Q4 24 | $-26.2M | $-9.3M | ||
| Q3 24 | $1.2M | $-28.1M | ||
| Q2 24 | $3.4M | $-7.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 39.9% | ||
| Q2 25 | — | 33.2% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | — | 34.1% |
| Q1 26 | — | — | ||
| Q4 25 | 44.8% | -39.6% | ||
| Q3 25 | 21.3% | -4.8% | ||
| Q2 25 | 6.9% | -27.5% | ||
| Q1 25 | 41.9% | -29.5% | ||
| Q4 24 | -123.0% | -37.6% | ||
| Q3 24 | -3.1% | -121.4% | ||
| Q2 24 | 7.8% | -30.3% |
| Q1 26 | 16.0% | — | ||
| Q4 25 | 36.5% | -34.9% | ||
| Q3 25 | 16.7% | -4.1% | ||
| Q2 25 | 5.6% | -26.5% | ||
| Q1 25 | 38.6% | -28.1% | ||
| Q4 24 | -100.3% | -35.4% | ||
| Q3 24 | 3.3% | -118.0% | ||
| Q2 24 | 9.6% | -27.2% |
| Q1 26 | $0.30 | — | ||
| Q4 25 | $1.19 | $-0.22 | ||
| Q3 25 | $0.28 | $-0.03 | ||
| Q2 25 | $0.10 | $-0.13 | ||
| Q1 25 | $0.92 | $-0.12 | ||
| Q4 24 | $-0.95 | $-0.13 | ||
| Q3 24 | $0.05 | $-0.39 | ||
| Q2 24 | $0.14 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $159.9M | $53.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $427.2M | $96.0M |
| Total Assets | $4.3B | $139.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $159.9M | — | ||
| Q4 25 | $143.6M | $53.2M | ||
| Q3 25 | $63.9M | $59.0M | ||
| Q2 25 | $94.1M | $57.0M | ||
| Q1 25 | $57.0M | $57.8M | ||
| Q4 24 | $64.5M | $54.6M | ||
| Q3 24 | $77.3M | $69.8M | ||
| Q2 24 | $66.6M | $80.1M |
| Q1 26 | $427.2M | — | ||
| Q4 25 | $422.9M | $96.0M | ||
| Q3 25 | $382.2M | $119.7M | ||
| Q2 25 | $376.4M | $118.4M | ||
| Q1 25 | $375.6M | $126.1M | ||
| Q4 24 | $351.8M | $127.1M | ||
| Q3 24 | $381.0M | $129.5M | ||
| Q2 24 | $376.0M | $149.1M |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.0B | $139.9M | ||
| Q3 25 | $4.0B | $164.3M | ||
| Q2 25 | $3.9B | $165.0M | ||
| Q1 25 | $3.7B | $158.1M | ||
| Q4 24 | $3.7B | $158.2M | ||
| Q3 24 | $4.0B | $166.3M | ||
| Q2 24 | $4.0B | $182.4M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $8.0M |
| Free Cash FlowOCF − Capex | — | $8.0M |
| FCF MarginFCF / Revenue | — | 17.0% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $10.8M | $8.0M | ||
| Q3 25 | $-11.4M | $9.1M | ||
| Q2 25 | $-41.0M | $7.0M | ||
| Q1 25 | $34.4M | $6.1M | ||
| Q4 24 | $19.5M | $-10.5M | ||
| Q3 24 | $6.1M | $-7.1M | ||
| Q2 24 | $52.3M | $-8.0M |
| Q1 26 | — | — | ||
| Q4 25 | $9.0M | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | $18.3M | $-12.4M | ||
| Q3 24 | — | $-7.1M | ||
| Q2 24 | — | $-8.2M |
| Q1 26 | — | — | ||
| Q4 25 | 11.2% | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | — | 19.5% | ||
| Q4 24 | 47.3% | -47.0% | ||
| Q3 24 | — | -30.0% | ||
| Q2 24 | — | -28.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 3.1% | 7.1% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.36× | — | ||
| Q3 25 | -1.67× | — | ||
| Q2 25 | -16.82× | — | ||
| Q1 25 | 1.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.93× | — | ||
| Q2 24 | 15.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRST
| Net Interest Income | $32.1M | 70% |
| Noninterest Income | $13.6M | 30% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
