Telos vs TSS
TSS is the larger business, with $246m of revenue in fiscal 2025 against $165m for Telos (1.5 times as much). TSS grew faster (65.9% against 52.2%). TSS kept more of each dollar of sales as profit: a net margin of 6.2% against -22.2%. Telos carries less debt relative to equity (0.0% against 23.5%).
| Latest fiscal year | TelosTLS, 2025 | TSSTSSI, 2025 |
|---|---|---|
| Revenue | $165m | $246m |
| Revenue growth | 52.2% | 65.9% |
| Net income | −$36.5m | $15.1m |
| Operating margin | -24.2% | 2.6% |
| Net margin | -22.2% | 6.2% |
| Return on equity | -32.8% | 36.1% |
| Free cash flow | $29.4m | $2.1m |
| Cash | $53.2m | $85.5m |
| Total debt | $0 | $18.0m |
| Debt to equity | 0.0% | 23.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $13.6m | $4.9m |
| Employees | 525 | 286 |
| Market value | $385m | $196m |
| Price vs our value range | — | — |
| Moat score | 16 (Weak) | 24 (Weak) |
| Insider trades, 12 months | 0 buys, 26 sales | 1 buys, 13 sales |