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Price · 1Y
$4.51
Thesis
Telos is a small-cap specialist in cyber risk, compliance, and identity services for US federal, defense, and intelligence customers. Xacta is its anchor product for continuous authorization and FedRAMP / FISMA workflows, and Telos ID handles identity vetting and trust services for cleared and regulated populations.
The customer mix is the story in both directions. Sticky federal accounts and high switching costs sit on one side; lumpy contract timing, narrow commercial footprint, and modest scale sit on the other. This is a tactical position rather than a compounder.
Catalysts
- New Xacta wins across civilian and defense agencies
- Federal cyber budget execution and continuing-resolution timing
- Identity-services contract expansion at TSA and adjacent programs
- Path to durable commercial revenue beyond government
Recent events
Material filings, federal awards, and regulatory activity. Impact is scored against market cap.