Telos Corporation awarded a prime contractor role in U.S. Navy's SeaPort NxG contract for professional support services.
Quiver AI Summary
Telos Corporation has been selected as a prime contractor for the U.S. Navy's SeaPort Next Generation (SeaPort NxG) contract, which allows it to compete for task orders through 2028. SeaPort NxG is essential for providing professional support services to various Navy commands and the Marine Corps. Telos plans to leverage this contract to offer the Navy services including network engineering, program management, logistics, and cyber risk assessment support. This award complements Telos's existing federal government contracts, collectively representing a potential $35 billion market opportunity. CEO John B. Wood expressed enthusiasm for strengthening the partnership with the Navy and highlighted the company's commitment to providing security solutions for defense and government entities.
Potential Positives
- Telos Corporation has been awarded a prime contractor position on the U.S. Navy’s SeaPort Next Generation (SeaPort NxG) IDIQ contract, enhancing its credibility and strength in the defense sector.
- This contract provides Telos with eligibility to bid on task orders until 2028, potentially leading to significant revenue opportunities.
- The aggregate addressable market from this and other recent contracts is approximately $35 billion, indicating substantial growth potential for the company.
- Telos aims to strengthen its relationship with the U.S. Navy by providing critical support services, aligning with their strategic focus on cybersecurity and operational support.
Potential Negatives
- Telos Corporation's press release heavily emphasizes their participation in the SeaPort NxG contract, which may signal reliance on government contracts for revenue, raising concerns about long-term sustainability.
- The press release includes a cautionary note regarding forward-looking statements, which indicates potential uncertainties and risks that could affect the company's future performance.
- The inclusion of a legal disclaimer about forward-looking statements may suggest that the company is preparing for potential challenges ahead, possibly reflecting instability or lack of confidence in projected outcomes.
FAQ
What is the SeaPort NxG contract that Telos Corporation has won?
SeaPort NxG is an indefinite-delivery/indefinite-quantity contract for providing professional support services to the U.S. Navy.
How long is Telos Corporation eligible to bid on task orders?
Telos Corporation is eligible to bid on task orders until 2028, after which a re-compete will occur for a nine-year period.
What services will Telos provide under the SeaPort NxG contract?
Telos will provide network engineering, operational support, program management, logistics, and training for cyber risk assessment.
What is the total addressable market for Telos contracts?
The total addressable market for Telos contracts, including SeaPort NxG, represents approximately $35 billion in new business opportunities.
How does Telos support cybersecurity for organizations?
Telos offers cybersecurity solutions for IT risk management, cloud security, identity management, and secure mobility for various organizations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TLS Insider Trading Activity
$TLS insiders have traded $TLS stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $TLS stock by insiders over the last 6 months:
- FREDRICK SCHAUFELD has made 2 purchases buying 250,000 shares for an estimated $621,494 and 0 sales.
- JOHN B WOOD (Chairman and CEO) purchased 158,644 shares for an estimated $379,159
- MARK D GRIFFIN (EVP, Security Solutions) purchased 10,000 shares for an estimated $26,300
- BRADLEY W. JACOBS has made 2 purchases buying 5,000 shares for an estimated $15,820 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TLS Hedge Fund Activity
We have seen 48 institutional investors add shares of $TLS stock to their portfolio, and 54 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PORTOLAN CAPITAL MANAGEMENT, LLC removed 1,110,557 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $3,986,899
- NORTHERN RIGHT CAPITAL MANAGEMENT, L.P. added 1,038,209 shares (+inf%) to their portfolio in Q3 2024, for an estimated $3,727,170
- EP WEALTH ADVISORS, LLC added 1,020,854 shares (+inf%) to their portfolio in Q3 2024, for an estimated $3,664,865
- MASTERS CAPITAL MANAGEMENT LLC removed 800,000 shares (-27.6%) from their portfolio in Q3 2024, for an estimated $2,872,000
- PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. added 623,302 shares (+inf%) to their portfolio in Q3 2024, for an estimated $2,237,654
- GOLDMAN SACHS GROUP INC removed 561,621 shares (-74.1%) from their portfolio in Q3 2024, for an estimated $2,016,219
- BLACKROCK, INC. added 506,895 shares (+13.8%) to their portfolio in Q3 2024, for an estimated $1,819,753
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ASHBURN, Va., Jan. 29, 2025 (GLOBE NEWSWIRE) --
Telos Corporation
(NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced its on-ramp as a prime contractor to the U.S. Navy – SeaPort Next Generation (SeaPort NxG) multiple award, indefinite-delivery/indefinite-quantity (IDIQ) contract.
SeaPort NxG serves the Navy Virtual SYSCOM Commanders, including NAVAIR, NAVFAC, NAVSEA, NAVSUP, NAVWAR and ONR, as well as the Military Sealift Command (MSC) and the United States Marine Corps (USMC). SeaPort NxG is the U.S. Navy’s integrated and mandatory approach to contracting for professional support services (PSS). As a prime contractor, Telos will be eligible to bid on task orders until 2028, at which time the Navy will perform a re-compete for a nine-year period of performance.
“Telos is pleased to be a part of SeaPort NxG, which strengthens our relationship with the U.S. Navy,” said John B. Wood, CEO and chairman, Telos. “We look forward to providing the Navy with network engineering and operational support, program management, logistics, and training to support cyber risk assessment.”
In addition to SeaPort NxG, since 2023, Telos has won positions on the following federal government blanket purchase agreement (BPA) and IDIQ contract vehicles, which, when combined with SeaPort NxG, provide market access to compete for new business opportunities that, in the aggregate, represent approximately a $35 billion addressable market, including:
Defense Logistics Agency (DLA) J6 Enterprise Technology Services 2.0 (JETS 2.0)
United States Air Force (USAF) Base Infrastructure Modernization (BIM)
Defense Manpower Data Center (DMDC) Defense Enterprise HR Applications and Data Services (DEHRADS)
United States Army EUROPE Infrastructure Modernization Capabilities Set (Army IMOD CAPSET)
United States Marine Corps (USMC) Infrastructure Services, Transport and Communications (ISTC) Base Area Network (BAN)
Federal Bureau of Investigations (FBI) Information Technology Supplies and Support Services (IT-SSS) 2nd Generation (IT-SSS2)
For a full list of Telos contract vehicles and additional information, please visit
www.telos.com/contracts
.
About Telos Corporation
Telos Corporation
(NASDAQ: TLS) empowers and protects the world’s most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos’ offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions for identity and access management, secure mobility, organizational messaging, and network management and defense. The company serves commercial enterprises, regulated industries and government customers around the world.
Forward-Looking Statements
This press release contains forward-looking statements which are made under the safe harbor provisions of the federal securities laws. These statements are based on the Company’s management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to them. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in the Company’s filings and reports with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2023, as well as future filings and reports by the Company, copies of which are available at
https://investors.telos.com
and on the SEC’s website at www.sec.gov.
Although the Company bases these forward-looking statements on assumptions that its management believes are reasonable when made, the Company cautions the reader that forward-looking statements are not guarantees of future performance and that the Company’s actual results of operations, financial condition and liquidity, and industry developments, may differ materially from statements made in or suggested by the forward-looking statements contained in this release. Given these risks, uncertainties and other factors, many of which are beyond its control, the Company cautions the reader not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date of such statement and, except as required by law, the Company undertakes no obligation to update any forward-looking statement publicly, or to revise any forward-looking statement to reflect events or developments occurring after the date of the statement, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.
Media:
media@telos.com
Investors:
InvestorRelations@telos.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
