Telos Corporation Awarded Contract Extension with Central Intelligence Agency

ASHBURN, Va., Sept. 12, 2023 (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 a $6.7 million, two-year contract extension with the Central Intelligence Agency (CIA).

This contract builds on Telos' six-year relationship with the CIA and adds three option periods (27 months) to the existing contract. The CIA will continue using Xacta^® professional services to support their Commercial Cloud Enterprise (C2E) Assessment and Authorization (A&A) efforts. Xacta professional services include supporting the automation of all A&A initiatives within the C2E office, including body of evidence (BoE) generation, vulnerability assessments, business intelligence, and data driven-workflow.

"We are pleased to continue supporting the CIA in its endeavors to maintain the highest level of security and trust for the intelligence community cloud environments," said John B. Wood, CEO and chairman, Telos. "At Telos, we provide streamlined solutions that support organizations like the CIA in their efforts to automate workflows and aid operations."

With this contract extension, Telos' services are being leveraged to support and automate various aspects of the A&A process within C2E via intelligent workflow – a feature that delivers the workflow and structure needed to automate tasks requiring human intervention. The contract also includes integrations of existing cybersecurity toolkits and delivers continuous ad-hoc reporting and business intelligence support.

Xacta professional services will continue to support the intelligence community’s mission to expand cloud capabilities by aiding various aspects of the A&A process.

For more information about Xacta, including various use cases, visit www.telos.com/xacta.

About Xacta
The Xacta suite of enterprise cyber risk management and compliance automation solutions helps organizations meet the complex challenges of managing IT risk with continuous compliance monitoring, security assessment and ongoing authorization. With the customizable nature of Xacta software, Telos offers customers the option to engage professional services to assist with additional advanced services they may require to implement Xacta successfully.

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, 2022, 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.

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