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Side-by-side financial comparison of TELOS CORP (TLS) and Whitestone REIT (WSR). Click either name above to swap in a different company.
TELOS CORP is the larger business by last-quarter revenue ($46.8M vs $43.9M, roughly 1.1× Whitestone REIT). Whitestone REIT runs the higher net margin — 52.0% vs -34.9%, a 86.9% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs 7.5%). Whitestone REIT produced more free cash flow last quarter ($50.5M vs $8.0M). Over the past eight quarters, TELOS CORP's revenue compounded faster (25.7% CAGR vs 8.7%).
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.
Whitestone REIT is a publicly traded real estate investment trust that acquires, owns, manages and redevelops open-air community shopping centers, primarily located in high-growth metropolitan areas across the southwestern and southeastern United States. Its property portfolio is largely anchored by daily necessity, service-focused retail tenants that cater to regular local consumer demand.
TLS vs WSR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.8M | $43.9M |
| Net Profit | $-16.3M | $22.8M |
| Gross Margin | 35.0% | — |
| Operating Margin | -39.6% | 53.0% |
| Net Margin | -34.9% | 52.0% |
| Revenue YoY | 77.4% | 7.5% |
| Net Profit YoY | -74.8% | 31.7% |
| EPS (diluted) | $-0.22 | $0.43 |
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 | $43.9M | ||
| Q3 25 | $51.4M | $41.0M | ||
| Q2 25 | $36.0M | $37.9M | ||
| Q1 25 | $30.6M | $38.0M | ||
| Q4 24 | $26.4M | $40.8M | ||
| Q3 24 | $23.8M | $38.6M | ||
| Q2 24 | $28.5M | $37.6M | ||
| Q1 24 | $29.6M | $37.2M |
| Q4 25 | $-16.3M | $22.8M | ||
| Q3 25 | $-2.1M | $18.3M | ||
| Q2 25 | $-9.5M | $5.1M | ||
| Q1 25 | $-8.6M | $3.7M | ||
| Q4 24 | $-9.3M | $17.3M | ||
| Q3 24 | $-28.1M | $7.6M | ||
| Q2 24 | $-7.8M | $2.6M | ||
| Q1 24 | $-7.4M | $9.3M |
| 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 24 | 37.0% | — |
| Q4 25 | -39.6% | 53.0% | ||
| Q3 25 | -4.8% | 45.5% | ||
| Q2 25 | -27.5% | 13.8% | ||
| Q1 25 | -29.5% | 10.2% | ||
| Q4 24 | -37.6% | 43.3% | ||
| Q3 24 | -121.4% | 20.3% | ||
| Q2 24 | -30.3% | 7.2% | ||
| Q1 24 | -28.5% | 25.9% |
| Q4 25 | -34.9% | 52.0% | ||
| Q3 25 | -4.1% | 44.7% | ||
| Q2 25 | -26.5% | 13.3% | ||
| Q1 25 | -28.1% | 9.7% | ||
| Q4 24 | -35.4% | 42.5% | ||
| Q3 24 | -118.0% | 19.7% | ||
| Q2 24 | -27.2% | 6.9% | ||
| Q1 24 | -24.9% | 25.1% |
| Q4 25 | $-0.22 | $0.43 | ||
| Q3 25 | $-0.03 | $0.35 | ||
| Q2 25 | $-0.13 | $0.10 | ||
| Q1 25 | $-0.12 | $0.07 | ||
| Q4 24 | $-0.13 | $0.34 | ||
| Q3 24 | $-0.39 | $0.15 | ||
| Q2 24 | $-0.11 | $0.05 | ||
| Q1 24 | $-0.10 | $0.18 |
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 | $4.9M |
| Total DebtLower is stronger | — | $649.4M |
| Stockholders' EquityBook value | $96.0M | $458.1M |
| Total Assets | $139.9M | $1.2B |
| Debt / EquityLower = less leverage | — | 1.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $53.2M | $4.9M | ||
| Q3 25 | $59.0M | $6.8M | ||
| Q2 25 | $57.0M | $5.3M | ||
| Q1 25 | $57.8M | $5.6M | ||
| Q4 24 | $54.6M | $5.2M | ||
| Q3 24 | $69.8M | $2.5M | ||
| Q2 24 | $80.1M | $3.2M | ||
| Q1 24 | $93.9M | $6.2M |
| Q4 25 | — | $649.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $632.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $96.0M | $458.1M | ||
| Q3 25 | $119.7M | $439.5M | ||
| Q2 25 | $118.4M | $427.5M | ||
| Q1 25 | $126.1M | $431.0M | ||
| Q4 24 | $127.1M | $438.2M | ||
| Q3 24 | $129.5M | $419.5M | ||
| Q2 24 | $149.1M | $418.3M | ||
| Q1 24 | $154.4M | $421.6M |
| Q4 25 | $139.9M | $1.2B | ||
| Q3 25 | $164.3M | $1.1B | ||
| Q2 25 | $165.0M | $1.2B | ||
| Q1 25 | $158.1M | $1.1B | ||
| Q4 24 | $158.2M | $1.1B | ||
| Q3 24 | $166.3M | $1.1B | ||
| Q2 24 | $182.4M | $1.1B | ||
| Q1 24 | $195.4M | $1.1B |
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $50.8M |
| Free Cash FlowOCF − Capex | $8.0M | $50.5M |
| FCF MarginFCF / Revenue | 17.0% | 114.9% |
| Capex IntensityCapex / Revenue | 0.1% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 2.22× |
| TTM Free Cash FlowTrailing 4 quarters | $29.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.0M | $50.8M | ||
| Q3 25 | $9.1M | $18.0M | ||
| Q2 25 | $7.0M | $13.8M | ||
| Q1 25 | $6.1M | $3.1M | ||
| Q4 24 | $-10.5M | $58.2M | ||
| Q3 24 | $-7.1M | $16.4M | ||
| Q2 24 | $-8.0M | $12.3M | ||
| Q1 24 | $-350.0K | $11.5M |
| Q4 25 | $8.0M | $50.5M | ||
| Q3 25 | $8.7M | — | ||
| Q2 25 | $6.8M | — | ||
| Q1 25 | $6.0M | — | ||
| Q4 24 | $-12.4M | $58.0M | ||
| Q3 24 | $-7.1M | — | ||
| Q2 24 | $-8.2M | — | ||
| Q1 24 | $-447.0K | — |
| Q4 25 | 17.0% | 114.9% | ||
| Q3 25 | 16.9% | — | ||
| Q2 25 | 19.0% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | -47.0% | 142.1% | ||
| Q3 24 | -30.0% | — | ||
| Q2 24 | -28.9% | — | ||
| Q1 24 | -1.5% | — |
| Q4 25 | 0.1% | 0.7% | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 7.1% | 0.5% | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | — | 2.22× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 2.74× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 3.36× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | 4.73× | ||
| Q1 24 | — | 1.23× |
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% |
WSR
Segment breakdown not available.
