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Side-by-side financial comparison of TELOS CORP (TLS) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $46.8M, roughly 1.3× TELOS CORP). TSS, Inc. runs the higher net margin — 20.0% vs -34.9%, a 54.8% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs 21.8%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $8.0M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs 25.7%).
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.
TLS vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.8M | $60.9M |
| Net Profit | $-16.3M | $12.2M |
| Gross Margin | 35.0% | 17.6% |
| Operating Margin | -39.6% | 1.5% |
| Net Margin | -34.9% | 20.0% |
| Revenue YoY | 77.4% | 21.8% |
| Net Profit YoY | -74.8% | 535.7% |
| EPS (diluted) | $-0.22 | $0.44 |
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.
| Q4 25 | $46.8M | $60.9M | ||
| Q3 25 | $51.4M | $41.9M | ||
| Q2 25 | $36.0M | $44.0M | ||
| Q1 25 | $30.6M | $99.0M | ||
| Q4 24 | $26.4M | $50.0M | ||
| Q3 24 | $23.8M | $70.1M | ||
| Q2 24 | $28.5M | $12.2M | ||
| Q1 24 | $29.6M | $15.9M |
| Q4 25 | $-16.3M | $12.2M | ||
| Q3 25 | $-2.1M | $-1.5M | ||
| Q2 25 | $-9.5M | $1.5M | ||
| Q1 25 | $-8.6M | $3.0M | ||
| Q4 24 | $-9.3M | $1.9M | ||
| Q3 24 | $-28.1M | $2.6M | ||
| Q2 24 | $-7.8M | $1.4M | ||
| Q1 24 | $-7.4M | $15.0K |
| Q4 25 | 35.0% | 17.6% | ||
| Q3 25 | 39.9% | 11.1% | ||
| Q2 25 | 33.2% | 17.8% | ||
| Q1 25 | 39.8% | 9.3% | ||
| Q4 24 | 40.3% | 14.4% | ||
| Q3 24 | 13.2% | 11.3% | ||
| Q2 24 | 34.1% | 37.3% | ||
| Q1 24 | 37.0% | 17.1% |
| Q4 25 | -39.6% | 1.5% | ||
| Q3 25 | -4.8% | -2.2% | ||
| Q2 25 | -27.5% | 5.1% | ||
| Q1 25 | -29.5% | 4.2% | ||
| Q4 24 | -37.6% | 0.0% | ||
| Q3 24 | -121.4% | 5.4% | ||
| Q2 24 | -30.3% | 14.0% | ||
| Q1 24 | -28.5% | 1.6% |
| Q4 25 | -34.9% | 20.0% | ||
| Q3 25 | -4.1% | -3.6% | ||
| Q2 25 | -26.5% | 3.4% | ||
| Q1 25 | -28.1% | 3.0% | ||
| Q4 24 | -35.4% | 3.8% | ||
| Q3 24 | -118.0% | 3.8% | ||
| Q2 24 | -27.2% | 11.5% | ||
| Q1 24 | -24.9% | 0.1% |
| Q4 25 | $-0.22 | $0.44 | ||
| Q3 25 | $-0.03 | $-0.06 | ||
| Q2 25 | $-0.13 | $0.06 | ||
| Q1 25 | $-0.12 | $0.12 | ||
| Q4 24 | $-0.13 | $0.08 | ||
| Q3 24 | $-0.39 | $0.10 | ||
| Q2 24 | $-0.11 | $0.06 | ||
| Q1 24 | $-0.10 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $53.2M | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $96.0M | $76.6M |
| Total Assets | $139.9M | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $53.2M | $85.5M | ||
| Q3 25 | $59.0M | $70.7M | ||
| Q2 25 | $57.0M | — | ||
| Q1 25 | $57.8M | — | ||
| Q4 24 | $54.6M | $23.2M | ||
| Q3 24 | $69.8M | $46.4M | ||
| Q2 24 | $80.1M | $8.3M | ||
| Q1 24 | $93.9M | $14.4M |
| Q4 25 | $96.0M | $76.6M | ||
| Q3 25 | $119.7M | $63.4M | ||
| Q2 25 | $118.4M | $9.5M | ||
| Q1 25 | $126.1M | $9.4M | ||
| Q4 24 | $127.1M | $7.1M | ||
| Q3 24 | $129.5M | $7.7M | ||
| Q2 24 | $149.1M | $5.2M | ||
| Q1 24 | $154.4M | $3.7M |
| Q4 25 | $139.9M | $184.9M | ||
| Q3 25 | $164.3M | $165.4M | ||
| Q2 25 | $165.0M | $139.5M | ||
| Q1 25 | $158.1M | $113.5M | ||
| Q4 24 | $158.2M | $96.6M | ||
| Q3 24 | $166.3M | $67.3M | ||
| Q2 24 | $182.4M | $28.9M | ||
| Q1 24 | $195.4M | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $8.0M | $15.8M |
| FCF MarginFCF / Revenue | 17.0% | 25.9% |
| Capex IntensityCapex / Revenue | 0.1% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $29.4M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.0M | $16.3M | ||
| Q3 25 | $9.1M | $-18.4M | ||
| Q2 25 | $7.0M | $16.3M | ||
| Q1 25 | $6.1M | $20.6M | ||
| Q4 24 | $-10.5M | $-21.6M | ||
| Q3 24 | $-7.1M | $38.6M | ||
| Q2 24 | $-8.0M | $-4.3M | ||
| Q1 24 | $-350.0K | $2.6M |
| Q4 25 | $8.0M | $15.8M | ||
| Q3 25 | $8.7M | $-24.9M | ||
| Q2 25 | $6.8M | $5.4M | ||
| Q1 25 | $6.0M | $5.8M | ||
| Q4 24 | $-12.4M | $-28.4M | ||
| Q3 24 | $-7.1M | $38.6M | ||
| Q2 24 | $-8.2M | $-6.0M | ||
| Q1 24 | $-447.0K | $2.6M |
| Q4 25 | 17.0% | 25.9% | ||
| Q3 25 | 16.9% | -59.3% | ||
| Q2 25 | 19.0% | 12.3% | ||
| Q1 25 | 19.5% | 5.8% | ||
| Q4 24 | -47.0% | -56.7% | ||
| Q3 24 | -30.0% | 55.1% | ||
| Q2 24 | -28.9% | -49.4% | ||
| Q1 24 | -1.5% | 16.4% |
| Q4 25 | 0.1% | 0.9% | ||
| Q3 25 | 0.9% | 15.3% | ||
| Q2 25 | 0.4% | 24.8% | ||
| Q1 25 | 0.4% | 15.0% | ||
| Q4 24 | 7.1% | 13.4% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.8% | 13.8% | ||
| Q1 24 | 0.3% | 0.2% |
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.02× | ||
| Q1 25 | — | 6.93× | ||
| Q4 24 | — | -11.32× | ||
| Q3 24 | — | 14.60× | ||
| Q2 24 | — | -3.09× | ||
| Q1 24 | — | 176.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
