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Side-by-side financial comparison of TELOS CORP (TLS) and VersaBank (VBNK). Click either name above to swap in a different company.
TELOS CORP is the larger business by last-quarter revenue ($46.8M vs $26.7M, roughly 1.8× VersaBank). VersaBank runs the higher net margin — 30.3% vs -34.9%, a 65.2% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs 31.2%). Over the past eight quarters, TELOS CORP's revenue compounded faster (25.7% CAGR vs 16.6%).
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.
VersaBank is a Canada-based digital-first financial institution offering commercial lending, high-interest deposit accounts and customized financial services for SMEs, retail clients and institutional partners across North America. It operates no physical branches, using secure digital infrastructure to deliver efficient, cost-effective banking experiences.
TLS vs VBNK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $46.8M | $26.7M |
| Net Profit | $-16.3M | $8.1M |
| Gross Margin | 35.0% | — |
| Operating Margin | -39.6% | — |
| Net Margin | -34.9% | 30.3% |
| Revenue YoY | 77.4% | 31.2% |
| Net Profit YoY | -74.8% | 35.9% |
| EPS (diluted) | $-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 | — | $26.7M | ||
| Q4 25 | $46.8M | — | ||
| Q3 25 | $51.4M | $23.1M | ||
| Q2 25 | $36.0M | $22.0M | ||
| Q1 25 | $30.6M | $20.3M | ||
| Q4 24 | $26.4M | — | ||
| Q3 24 | $23.8M | $19.7M | ||
| Q2 24 | $28.5M | $20.8M |
| Q1 26 | — | $8.1M | ||
| Q4 25 | $-16.3M | — | ||
| Q3 25 | $-2.1M | $4.8M | ||
| Q2 25 | $-9.5M | $6.2M | ||
| Q1 25 | $-8.6M | $5.9M | ||
| Q4 24 | $-9.3M | — | ||
| Q3 24 | $-28.1M | $7.1M | ||
| Q2 24 | $-7.8M | $8.6M |
| 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 | -39.6% | — | ||
| Q3 25 | -4.8% | — | ||
| Q2 25 | -27.5% | — | ||
| Q1 25 | -29.5% | — | ||
| Q4 24 | -37.6% | — | ||
| Q3 24 | -121.4% | — | ||
| Q2 24 | -30.3% | — |
| Q1 26 | — | 30.3% | ||
| Q4 25 | -34.9% | — | ||
| Q3 25 | -4.1% | 20.8% | ||
| Q2 25 | -26.5% | 28.3% | ||
| Q1 25 | -28.1% | 29.3% | ||
| Q4 24 | -35.4% | — | ||
| Q3 24 | -118.0% | 35.9% | ||
| Q2 24 | -27.2% | 41.5% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.22 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.13 | — | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $-0.13 | — | ||
| Q3 24 | $-0.39 | — | ||
| Q2 24 | $-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 | $53.2M | $458.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $96.0M | $396.4M |
| Total Assets | $139.9M | $4.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $458.4M | ||
| Q4 25 | $53.2M | — | ||
| Q3 25 | $59.0M | $336.0M | ||
| Q2 25 | $57.0M | $248.3M | ||
| Q1 25 | $57.8M | $282.3M | ||
| Q4 24 | $54.6M | — | ||
| Q3 24 | $69.8M | $181.0M | ||
| Q2 24 | $80.1M | $145.1M |
| Q1 26 | — | $396.4M | ||
| Q4 25 | $96.0M | — | ||
| Q3 25 | $119.7M | $385.5M | ||
| Q2 25 | $118.4M | $385.7M | ||
| Q1 25 | $126.1M | $380.5M | ||
| Q4 24 | $127.1M | — | ||
| Q3 24 | $129.5M | $298.6M | ||
| Q2 24 | $149.1M | $292.1M |
| Q1 26 | — | $4.5B | ||
| Q4 25 | $139.9M | — | ||
| Q3 25 | $164.3M | $4.0B | ||
| Q2 25 | $165.0M | $3.7B | ||
| Q1 25 | $158.1M | $3.6B | ||
| Q4 24 | $158.2M | — | ||
| Q3 24 | $166.3M | $3.3B | ||
| Q2 24 | $182.4M | $3.2B |
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 | $40.6M |
| Free Cash FlowOCF − Capex | $8.0M | — |
| FCF MarginFCF / Revenue | 17.0% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | 5.03× |
| TTM Free Cash FlowTrailing 4 quarters | $29.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.6M | ||
| Q4 25 | $8.0M | — | ||
| Q3 25 | $9.1M | — | ||
| Q2 25 | $7.0M | — | ||
| Q1 25 | $6.1M | $-65.0M | ||
| Q4 24 | $-10.5M | — | ||
| Q3 24 | $-7.1M | — | ||
| Q2 24 | $-8.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $8.0M | — | ||
| Q3 25 | $8.7M | — | ||
| Q2 25 | $6.8M | — | ||
| Q1 25 | $6.0M | — | ||
| Q4 24 | $-12.4M | — | ||
| Q3 24 | $-7.1M | — | ||
| Q2 24 | $-8.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 17.0% | — | ||
| Q3 25 | 16.9% | — | ||
| Q2 25 | 19.0% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | -47.0% | — | ||
| Q3 24 | -30.0% | — | ||
| Q2 24 | -28.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.8% | — |
| Q1 26 | — | 5.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -10.94× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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% |
VBNK
Segment breakdown not available.
